The first few years of the War did, indeed, seem to discredit it, to show that this interdependence was not so vital as had been supposed. Germany seemed for a long time really to be self-supporting, to manage without contact with other peoples. It seemed possible to re-direct the channels of trade with relative ease. It really appeared for a time that the powers of the Governments could modify fundamentally the normal process of credit almost at will, which would have been about equivalent to the discovery of perpetual motion! Not only was private credit maintained by governmental assistance, but exchanges were successfully 'pegged'; collapse could be prevented apparently with ease. Industry itself showed a similar elasticity. In this country it seemed possible to withdraw five or six million men from actual production, and so organise the remainder as to enable them to produce enough not only to maintain themselves, but the country at large and the army, in food, clothing and other necessaries. And this was accomplished at a standard of living above rather than below that which obtained when the country was at peace, and when the six or seven or eight millions engaged in war or its maintenance were engaged in the production of consumable wealth. It seemed an economic miracle that with these millions withdrawn from production, though remaining consumers, the total industrial output should be very little less than it was before the War. But we are beginning to see how this miracle was performed, and also what is the truth as to the self-sufficiency of the great nations. As late as the early summer of 1918, when, even after four years of the exhausting drain of war, well-fed German armies were still advancing and gaining victories, and German guns were bombarding Paris (for the first time in the War), the edifice of German self-sufficiency seemed to be sound. But this apparently stalwart economic structure crumbled in a few months into utter ruins and the German population was starving and freezing, without adequate food, fuel, clothing. England has in large measure escaped this result just because her contacts with the rest of the world have been maintained while Germany's have not. These latter were not even re-established at the Armistice; in many respects her economic isolation was more complete after the War than during it. Moreover, because our contacts with the rest of the world are maintained by shipping, a very great flexibility is given to our extra-national economic relationships. Our lines of communication can be switched from one side of the world to the other instantly, whereas a country whose approaches are by railroads may find its communications embarrassed for a generation if new frontiers render the old lines inapplicable to the new political conditions.