[28] _Cf._ foreign correspondence in _The Times_ (London), October 25, 1898, and days immediately thereafter. [29] For an analysis of this situation see _The Manchester Guardian_, July 31, 1899, which took the stand that “for no sort of mercantile gain would a nation be justified in making friendly advances to the blood-stained tyrant of Armenia.” [30] In this connection see Leonard Woolf, _Economic Imperialism_ (London and New York, 1920), Chapter I; Ramsay Muir, _The Expansion of Europe_ (New York, 1917), Chapter I; J. E. Spurr (editor), _Political and Commercial Geology_ (New York, 1920), Chapter XXXII, entitled “Who Owns the Earth?”; Aspi-Fleurimont, “La Question du coton,” in _Questions diplomatiques et coloniales_, Volume 15 (1903), pp. 429–432; J. A. B. Scherer, _Cotton as a World Power_ (New York, 1922). In addition, for the wider aspects of imperialism, consult H. N. Brailsford, _The War of Steel and Gold_ (New edition, London, 1915), Chapter II; F. C. Howe, _Why War?_ (New York, 1916), _passim_; Walter Lippman, _The Stakes of Diplomacy_ (New York, 1915); J. A. Hobson, _Imperialism: A Study_ (London, 1902). [31] W. H. Dawson, _The Evolution of Modern Germany_ (New York, 1908), Chapter XII. P. Rohrbach, _Deutschland unter den Weltvölkern_, p. 17. [32] Riesser, _op. cit._, pp. 110, 121. [33] It should be remarked here that the author is not unaware of the fallacy of speaking of “German trade” and “German industry.” He is cognizant of the fact that trade takes place not between countries, but between individuals. If he anthropomorphizes the German Empire for the purposes of this description, it is not because of either ignorance or malice, but for convenience. [34] For further consideration of German economic progress during the late nineteenth century see: Dawson, _op. cit._, Chapters III, IV, XII, XVI; E. D. Howard, _The Cause and Extent of the Recent Industrial Progress of Germany_ (New York, 1907); T. B. Veblen, _Imperial Germany and the Industrial Revolution_ (New York, 1915); W. H. Dawson, _Industrial Germany_ (London, 1913); Karl Helfferich, _Germany’s Economic Progress and National Wealth_ (New York, 1913); G. Blondel, _L’Essor industriel et commercial du peuple allemand_ (Paris, 1900). [35] Paul Dehn, _Weltwirtschaftliche Neubildungen_ (Berlin, 1904), _passim_. [36] Bernhard von Bülow, _Imperial Germany_ (English translation, New York, 1914), pp. 17, 18–20.