Sir Edward Grey has sent his reply to the United
States protest of December 29th as to British interference with American shipping. An interim reply was sent on January 7th, and the new Note is the final British statement. As regards the complaint that American trade has suffered the following points are made :— " (i.) In this war, for which Great Britain is in no way responsible, it is impossible for the trade of any country to escape all injury and loss.
(it) For the seven months to July, 1914, inclusive, there was a drop of 126 millions of dollars (.£25,200,000) is the exports of merchandise from the United States. From August to November, excluding cotton, there was a drop of only 22 millions compared with 1913.
(iii.) If cotton be excluded, the effect of the war has bean practically to arrest the decline of American exports. Cotton, not being contraband, has not been touched by us.
(iv.) Our naval operations are not the cause of any diminu- tion in the volume of American exports.
(v.) The outbreak of war produced in the United States an acute but temporary disturbance of trade. There has been a steady recovery, and to-day the exports from the United States stand at a higher figure than on the same day last year."
Previous page
