The Effect of the War on the External Trade of the United Kingdom: An Analysis of the Monthly Statistics, 1906-1914

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University Press, 1915 - Great Britain - 55 pages
"Theis essay contains the substance of four lectures, delivered at the London school of economics and political science in January and February, 1915"--Prefatory note.
 

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Page 54 - Finally, it appears that our dependence on foreign and colonial supplies and our possible vulnerability at sea have had as yet hardly any visible effect on our production or consumption; for prices must rise, credit be temporarily disorganized, capital cease to accumulate, production be checked and industry diverted, in any country engaged in a serious war, whether it be insular or continental, trading or self.sufficient.
Page 54 - ... to reach £350,000,000 or £400,000,000 a year. So far as can be judged this total is little if at all more than the amounts due as interests, profits, etc., from abroad, together with the high earnings of shipping, which at once cause part of the excess and help to meet it.
Page 53 - During the five months beginning August, 1914, less than two weeks' imports was lost from the Empire, and from nonbelligerent foreign countries, and that even of this much was simply delayed by congestion at the docks. The enemy's efforts to check our supplies from countries not actually at war have thus had less effect than a minor trade crisis and about as much as a moderately serious strike of transport workers. With exports . . . the position is different.
Page 31 - ... of modern trade and manufacture is wonderfully elastic and adaptable, and so far as one can judge any effects that are felt will be rather in enhanced price than in absence of supply.
Page 15 - ... those homeward bound cargoes, belonging to residents in the United Kingdom, destroyed or captured by the enemy and paid for by home underwriters; the difference between these items is not great in comparison with the £192,800,000 in question.
Page 12 - ... to citizens of neutral powers trading with each other to do without the conveniences of entrepot furnished by London, and on the other hand, the great entrepots of Antwerp, Rotterdam, Amsterdam and Hamburg have not been easily available.
Page 12 - From the point of view of commerce the statistics of reexports are deserving of special study...
Page 53 - January 1915 the scale of our exports of home-produce has shrunk so as to cause a diminution (if there is no change) of about £230,000,000 per annum, of which £100,000,000 is due to loss of trade with Germany, Austria, Turkey, Belgium and Russia ; re.exports have also diminished ; meanwhile imports approximate to their old level of value.
Page 11 - ... has been greater than if the entire cotton export trade had ceased to exist...

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