“It has been positively demonstrated during this time that the falling off of imports caused by the war in Europe will in the future be principally covered by American industry....
“The complete stopping of importation of German products will, in truth, to a limited extent, especially in the first part of the blockade, help the sale of English or French products, but the damage which will be done to us in this way will not be great....
“The Lusitania case did, in fact, give the English efforts in this direction a new and powerful impetus, and at first the vehemence with which the anti-German movement began anew awakened serious misgivings, but this case also will have a lasting effect, which, unless fresh complications arise, we may be able to turn to the advantage of the sale of German goods....
“The war will certainly have this effect, that the American business world will devote all its energy toward making itself independent of the importation of foreign products as far as possible....
“If the decision is again brought home to German industry it should not be forgotten what position the United States took with reference to Germany in this war. Above all, it should not be forgotten that the ‘ultimate ratio’ of the United States is not the war with arms, but a complete prohibition of trade with Germany, and, in fact, through legislation. That was brought out very clearly and sharply in connection with the still pending negotiations regarding the Lusitania case.”
Dr. Albert received among many reports one giving an analysis of the trade here in war materials:
“The large war orders, as the professional journals also print, have become the great means of saving American business institutions from idleness and financial ruin.
“The fact that institutions of the size and international influence of those mentioned could not find sufficient regular business to keep them to some extent occupied, throws a harsh light upon the sad condition in which American business would have found itself had it not been for the war orders. The ground which induced these large interests to accept war orders rests entirely upon an economical basis and can be explained by the above-mentioned conditions which were produced by the lack of regular business.... These difficulties resulting from the dividing up of the contracts are held to have been augmented, as stated in business circles, by the fact that certain agents working in German interest succeeded in further delaying and making worse American deliveries....