Among sections of the business community who have kept themselves informed of proclamations and notifications, it may seem somewhat curious to find that the query is frequently made to-day whether trading with Germany is legal. As a matter of fact, however, this is now a common query, and is becoming more so owing to the frequency of communications with Germany. In the civeumstances it may be convenient to restate the position.
Between the date of the armistice and the signing of the peace' treaty 2 general licence was given for certain descriptions of trade between the United Kingdom and Germany, while by proclamation issued in April last it was announced that trade could be resumed to the full, with only a few restrictions on particular articles, such as aeroplanes, munitions of war and the like, although one notable export which was forbidden was butter. It is presumed that these restrictions apply here as well as at Home.
The resumption of trade, however, does not cover business which the war interrupted. Contracts in force when hostilities broke out were duly liquidated by the authorities appointed. and the Custodian of Enemy Property took possession of money in transit as payment for goods. As matters stand these transactions must be considered as having been wound up. As regards dividends—which in normal circumstances would be paid to German shareholders, these are also subject to the war measures brought into force, and must still he'nade over to the Custodian of Enemy Proper With these exceptions, however—there may be a few others—trade can be freely resumed, and we understand that this is gradually and slowly being done. In Europe the United Kingdom seems to have resumed business to a fairly large extent, and an American paper recently went the length of stating that the enterprise of British merchants appeared likely to capture the greater part of Germany's import and export trade. British steamers have now opened on the run from Hamburg to the East, and most of the Far Eastern, ports hava in their returns shown imports of German articles, principally metals and dyes. The position is that if British firms neglect this trade, there are others, such as those who were neutral during the war, who will secure it.
We have mentioned that applications to resume business with German firms have become more numerous recently, firms in Germany showing a desire to resume
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