of the alarm and agitation which has often prevailed in the course of this arduous contest ... we have increased our external and internal commerce to a higher pitch than ever it was before; and we may look to the present as the proudest year that has ever yet occurred for this country.” Let us return to the year 1793. Trembling with indignation at the sight of the murder of the French sovereigns, and of the introduction of the religion of Reason; deeply incensed by the proclamation of the Republic, and fearing for the liberties of Europe, England flung herself—on the trade and industry of France. The latter was to be isolated from the rest of the world. The British Government declared that it was necessary to starve the French nation, by preventing the importation of corn. When we consider that France in those days had a much smaller population than she has to-day, whereas her soil was just as fruitful then as now, it is difficult to suppose that the starvation plan was a serious one. Some sagacious Germans recognised afterwards, when it was too late, the truth of the matter: the starvation of France was a pretext, the object of which was to hold up to England’s continental allies a common aim to be realised, and to hide the real purpose of the English blockade from their view. The purpose in question was none other than the destruction of the entire industry of the Continent, for England succeeded in persuading the majority of European States to bind themselves over not to sell anything to France. In this way did they suppress their own export trade to that country; and the consequence was, that especially the German industry lost a valuable, nay indispensable, market. German industry was, in future, compelled to work at such a cost, that the cheaper English goods were able to flood the German market. We can observe here the time-honored English policy, which wages war only when large business profits are to be drawn from it. The more heterogeneous and complicated European political life grew, the more cunningly did England proceed. At the beginning of the last century she succeeded, by the simple means of a few high-sounding words, in inducing the whole of Europe to destroy the latter’s own industry and the foundations of its own economic existence.