Though the vast and rapid development of American export trade through the trade in war material, and the change in position from debtor to creditor, was only effected gradually, and the loss of the German market at first made itself adversely felt both actively and passively, the size of the contracts from the Allies and the consequent profits at once acted like a narcotic on public opinion. This was all the more the case as a result of the extraordinarily skilful way in which the English handled the question. They always proceeded cautiously and gradually. For instance, they at first accepted the Declaration of London in principle, but made several alterations which to the public, who did not realize the extent of their effect, seemed unimportant and which yet formed the basis for the gradual throwing overboard of the Declaration of London. After public opinion had grown accustomed to the English encroachments and the interests affected had been pacified by the Allied contracts, the blockade was introduced after careful preparation in the Press; it was not at first described as a blockade, but was gradually and systematically tightened. Among other things, the export of cotton to Germany was expressly agreed to at the end of 1914, but was afterwards hampered in practice by various measures, as, for example, the holding up of individual ships, and the refusal of marine insurance, and finally brought to an end by the declaration of cotton as unconditional contraband. It is characteristic that the declaration of cotton as unconditional contraband was made public on the very day on which the whole American Press was in a state of great excitement over the _Arabic_ case, so that this comparatively unimportant incident filled the front pages and leading articles of the newspapers, while the extremely important economic measure was published in a place where it would hardly be noticed.