(Figures in millions of £ sterling, with rough equivalent in $) =============================+==============+==========+============= |United Kingdom| Germany |United States -----------------------------+------+-------+----+-----+-----+------- Net imports for consumption. | £218 | $1090 |£260|$1300|£188 |$940 Imports of manufactures. | 72 | 360 | 48| 240| 81 | 405 Exports of domestic products.| 230 | 1150 | 244| 1220| 221 |1105 Exports of manufactures. | 177 | 885 | 170| 850| 140 | 700 =============================+======+=======+====+=====+=====+======= The figures, it should be noted, give not the total commerce of any country, but the gain which each country had made in the period in question. The figures do not take account of the difference in population in the three countries; they treat the three different countries as units. The reader in studying them cannot fail to be impressed by the closeness in the struggle for commercial leadership, and will be better prepared to understand how precarious was the situation if in one of the countries the view was dominant that commercial interests were group interests, to be furthered by any assistance which the state could render, if necessary by the sword. QUESTIONS AND TOPICS 1. Note the different senses in which the commerce of a country may be described as “declining.” (1) Other things remaining the same, there may be an absolute decrease in the quantity and value of both exports and imports. (2) The decrease may affect only one side of the balance, while the total figures may remain the same. Why is the decrease viewed with especial apprehension if it affects exports? (3) Other things remaining the same, including the quantity of wares, there may be a decrease in the value of a country’s commerce, due to a change in the level of prices. (4) The quantity and value of a country’s commerce may remain the same, and yet be regarded as “declining” if the population of the country increases; the share of each person in commerce would be diminishing. (5) Similarly, a country’s commerce may keep pace with its population, and yet be termed “declining” if the commerce of other countries increased more rapidly, so that the given country conducted a diminishing share of the world’s trade. (6) Previous standards of “decline” have been based on quantity, measured either in bulk or value, but there may also be a decline in quality. A scientist might gain more income if he adopted the trade of an artisan, but he would be thought, nevertheless, to lose in rank. Endeavor to make clear to yourself the significance of each one of these various changes, and be prepared to distinguish them as you study the commercial tendency of different countries. Find examples of as many of them as you can. 2. Pick from following sections a concrete example to illustrate each of the three heads suggested in sect. 452.