In explaining the increased living costs he identified a number of reasons: "obstacles for domestic trade, the almost total paralysing of the foreign trade and finally the strong decreasing of labour power, caused partly by the mobilisation, but partly also by the extermination of the Armenian race ".
I en forklaring af de stigende leveomkostninger identificerede han en række årsager: "forhindringer for indenrigshandel, den næsten totalt paralyserede internationale handel og endelig det voldsomme fald i arbejdskraft, som dels skyldes mobilisering, men dels også udryddelsen af den armenske race."