"The commercial jealousy about which we [in Germany] hear so much is based on a wrong conception of the circumstances. Certainly Germany's rise as a commercial power after 1870 and during the following decades was a menace to British commercial circles which with their industries and export houses had held a virtual monopoly. The increasing commerce with Germany, which was the leading country in Europe as regards British exports, had, however, given rise to the wish to maintain friendly relations with their best customer and business friend, and had driven all other considerations into the background. Notably, in commercial spirit and the effort to further our common commercial interests." "At the English cities to which I was invited (by the Chambers of Commerce and municipalities) I was well received everywhere. * * * In all other circles I also met with the most friendly reception and co-operation--at Court, in society, and from the Government." "On account of our fleet alone England would not have drawn the sword any more than on account of our trade, which has been alleged to have produced jealousy and finally war. * * * It was possible to arrive at an understanding in spite of the fleet, and without a 'naval holiday,' [intermission of naval shipbuilding.]" Second--The memorandum shows that the attitude of the British Government, and in particular of Sir Edward Grey, then Foreign Minister, was entirely pacific. The admirable characterization of Sir Edward it contains is too long to quote, but it testifies to his perfect straightforwardness and constant wish to maintain good relations with Germany, and after describing how "the simplicity and honesty of his ways secured him the respect even of his opponents," it adds: "This is a true picture of the man who is decried [in Germany] as 'Liar Grey' and instigator of the world war." The memorandum goes on to show how sincerely Sir Edward had worked for peace, first in 1913, during the Balkan troubles, when he went hand-in-hand with Germany, "hardly ever supporting the French or Russian claims. He conducted the negotiations with circumspection, calm, and tact." Frequently, when appealed to by Lichnowsky to use his influence with the Russian Government to arrange difficulties between it and Germany, "Sir Edward gladly did this, and his intervention contributed in no small degree to smooth the matter over."