TRADE WILL TELL.

Taranaki Daily News, Volume LVII, Issue 154, 25 November 1914, Page 4

TRADE WILL TELL.

The Wellington Post points out tliat in 1912 German imported raw materials ■ worth £250,000,000 (liritain in the same year imported raw materials worth £208,000,000) and exported manufactures worth €281,000,000 (corresponding British figures £385,000,000). Britain's hest sources of imports and heat markets for exports are outside the area of war, and as her sea-borne trade has heen maintained, her commerce proceeds almost normally. But flermanv, as much dependent as Britain is on outside sources for raw materials (though not for food), has to rely on precarious sup"plies through neutrals, and lias to semi out her manufactures by the same costljand unreliable channels, because her mercantile marine of about three million tons is either captured or locked up in neutral ports, or blockaded in Germany. While British exports find, only Germain and Austria closed to tliem. German manufactures find it difficult or impossible to export to any market. By the cessation of trade between Britain and the two enemy countries, the latter are the chief losers, because in 1013 Britain's imports from them were worth £BBOOO- - competitive with British—and her exports to them £45,000,000. By going to war, they give the , British manufacturer a thiijJ; ], O never "jiad helore—complete protection against them I in Ins own home, market, and great ad-/«

devote his efforts to capture the German and Austrian export trade, which in 1913 is estimatod to havo reached £400,000,000. Even a portion of this commerce cannot bo captured in a day, and a great deal that is captured in a day will not be permanently held. But the point is that every month during which the war oontinues will increase the proportion of trade that is permanently captured from Germany. Germany's commercial men, according to a Copenhagen message, recognise this, and realise that tho prolongation of the war will spell eventual ruin. Every month of continued hostilities means a further sacrifice of labor for which there is no substitute, an additional loss of many millions of sorely-needed capital, and an extra concession of invaluable time during which British-made competitive articles or substitutes are strengthening their position in world-trade.