These figures furnish a striking answer to the alarmists who can see in Germany nothing but a vigorous and not too scrupulous rival. In every year during the last ten years she has apparently bought more from us than she has sold to us. It is quite true that all the things she has bought from us were not produced or manufactured by us. A portion of her purchases consists of foreign or colonial goods sent to London, or Liverpool, or Hull, and there purchased for re-sale in Germany. But in the same way some of the goods we buy from Germany certainly had their origin in other countries, and have only passed through Germany on their way to us; so that the fairest way of making a comparison is to take the whole trade in each case. Moreover, this _entrepôt_ trade of ours is not in itself a thing to be sneezed at; it contributes a goodly fraction of the wealth of the city of London. In order, however, to complete the picture of our trade with Germany, the following table is appended, distinguishing in each of the ten years under review the home produce exported from the foreign and colonial goods re-exported. This table shows that in purely British goods we are doing a very satisfactory trade with Germany. Taking averages, we see that during the ten years our export of our own manufactures and produce to German ports was at the rate of £17,800,000 a year, against a total import from German ports of £25,900,000, this figure including both German goods and other countries’ goods passing through Germany. If we recollect that on the whole our imports from the outside world must be very much larger than our exports, for the reasons detailed in the preceding chapter, it will be seen that these two figures, even by themselves, are not unsatisfactory. ANALYSIS OF OUR TRADE WITH GERMAN PORTS. In Millions Sterling. ----------------------+----+----+----+----+----+----+----+----+----+---- |1886|1887|1888|1889|1890|1891|1892|1893|1894|1895 ----------------------+----+----+----+----+----+----+----+----+----+---- British Goods exported|15·7|15·7|15·8|18·5|19·3|18·8|17·6|17·7|17·8|20·6 to German ports | | | | | | | | | | | | | | | | | | | | Foreign and Colonial |10·6|11·5|11·6|12·8|11·2|11·1|12·1|10·3|11·4|12·2 Goods exported from | | | | | | | | | | British ports to | | | | | | | | | | German ports | | | | | | | | | | ----------------------+----+----+----+----+----+----+----+----+----+---- OUR PRINCIPAL CUSTOMERS. Let us now go a step further and compare our trade with Germany and our trade with other principal customers. The comparison is worked out in the following table, which shows the total imports into the United Kingdom from the respective countries, and the total exports from the United Kingdom to the same countries:—