Warfare is primarily concerned with operating the blockade against Germany, etc., the very operation of the blockade means that a considerable quantity of" raw. material is confiscated for Great Britain's use, During the first five weeks of the war the total quantity of goods detained as suspected contraband amounted to about 315,000. tons. During the week ending October 7 the British zontraband control detained 25,000 tons of goods asto which there was evidence that they were contraband destined to Germany. The cargoes included:—13,800 tons of petroleum products; 2,500 tons of sulphur; 1,500 tons of jute and 400 tons of other fibres; 1,500 tons of feeding stuffs 1,300 {ons of oils and fats; 1,200 tons of foodstuffs; 600 tons of -oilseeds 570 tons of copper and 430 tons of other ores and metals; 500 tons of phosphates; 520 tons of timber, Finance is the life-blood of industry in war-time as well as in peace. Britain's overwhelming financial strength isa considerable contribution to the national industrial effort. This country can devote practically half its income if need be to the prosecution of a war, since it is the margin over the level of bare necessities which determines financial strength. It has been estimated that in 1937 the, per capita income of Germany was £623, while in the same year the corresponding figure from Great Britain was £107. There is here, therefore, a margin which, while it is spent on luxury in peace time, would be mobilized for the purpose of war if necessary. Britain's external financial strength is also impressive. The. annual income on British foreign investments is about £200,000,000 per year, while the capital is many times greater. In gold foreign exchange and income yielding investments Great Britain has foreign assets of more than £100 per head of its population- Even for the United States, which is recognized as a wealthy nation, the figure is no more than about £47 per head.
Text read from the printed page and cleaned; old type leaves the occasional error.