The Creature from Jekyll Island (8)

War

It was at that point in history that governments' wars began to heat up. They always had wars but they were relatively small things because wars are expensive and people won't pay more than 40% for everything including wars. But now that they had a way to tax higher than that, they could engage in every expensive wars. It's at that point in history that Europe plugged headlong into continuous war and big, very, very expensive wars. The people paid for them uncomplainingly through the process of inflation.