,APP5DIX ,J 
,MR4 ,GIFF5'S ,& ,MR4 ,FLUX'S ,FIGURES ,CONC]N+ ,! ,POSITION ,( ,! ,UNIT$ ,K+DOM ,9 ,9T]NATIONAL ,TRADE 

#ahihahih 

,PEOPLE 3 

,AU?OR 3 ,PET] ,KROPOTK9 

,TEXT 3 

  

,PHOTO BY ,LUCA ,RUSSO1,C,C ,B,Y-,N,C-,N,D ,LIC5SE ,A FEW REM>KS CONC]N+ !SE FIGURES MAY BE ( SOME AVAIL4 

,:5 A SUDD5 FALL 9 ! ,BRITI% & ,IRI% EXPORTS TOOK PLACE 9 ! YE>S #a#h#h#b-#a#h#h#f1 & ! AL>MI/S TOOK ADVANTAGE ( ! BAD TIMES TO RAISE ! NEV]-=GOTT5 W>-CRY ( PROTECTION1 ESPECIALLY 9SI/+ ON ! DAMAGES MADE TO ,BRITI% TRADE BY @&_?#a#d#g2,G]MAN COMPETITION1@&_?#a#d#h2 ,MR4 ,GIFF5 ANALYZ$ ! FIGURES ( 9T]NATIONAL TRADE 9 HIS @&_?#a#d#g2,F9ANCE ,ESSAYS1@&_?#a#d#h2 & 9 A REPORT READ 9 #ahhh BE=E ! ,BO>D ( ,TRADE ,COMMISSION4 ,SUBSEQU5TLY1 ,MR4 ,A4 ,W4 ,FLUX ANALYZ$ AGA9 ! SAME FIGURES1 EXT5D+ !M TO A LAT] P]IOD4 ,HE CONFIRM$ ,MR4 ,GIFF5@&_?#a#d#f2S CONCLUSIONS & 5DEAVOR$ TO PROVE ?AT ! FAM\S @&_?#a#d#g2,G]MAN COMPETITION@&_?#a#d#h2 IS A FALLACY4 

,MR4 ,GIFF5@&_?#a#d#f2S CONCLUSIONS1 QUOT$ BY ,MR4 ,A4 ,W4 ,FLUX 7@&_?#a#d#g2,! ,COMM]CIAL ,SUPREMACY ( ,GREAT ,BRITA91@&_?#a#d#h2 9 ,ECONOMICAL ,J\RNAL1 #a#h#i#d1 IV41 P4 #d#e#g71 W]E AS FOLL[S3- 

@&_?#a#d#g2,ON ! :OLE1 ! FIGURES >E NOT SU* AS TO 9DICATE ANY GREAT & OV]:ELM+ ADVANCE 9 ,G]MAN EXPORTS1 9 COMP>ISON ) ?OSE ( ! ,UNIT$ ,K+DOM4 ,!RE IS GREAT] PROGRESS 9 C]TA9 DIRECTION1 BUT1 TAK5 ALTOGE!R1 NO GREAT DISPROPORTIONATE ADVANCE1 & 9 MANY IMPORTANT M>KETS = ! ,UNIT$ ,K+DOM ,G]MANY H>DLY APPE>S AT ALL4@&_?#a#d#h2 

,9 ?IS SUBDU$ =M1 ) REG>D TO ,G]MAN COMPETITION ALONE @&_?#a#e2 & DUE ALL[ANCE BE+ MADE = FIGURES 9 :I* NO CONSID]ATION IS GIV5 TO :AT SORT ( GOODS MAKE A GIV5 VALUE ( EXPORTS1 & 9 :AT QUANTITIES @&_?#a#e2 ,MR4 ,GIFF5@&_?#a#d#f2S /ATEM5T C\LD BE ACCEPT$4 ,BUT ?AT WAS ALL4 

,IF WE TAKE1 H[EV]1 ,MR4 ,GIFF5@&_?#a#d#f2S FIGURES AS !Y >E REPRODUC$ 9 EXT5D$ TABLES 7ON PP4 #d#f#a-#d#f#g ( ! JU/ QUOT$ PAP]71 TABULAT$ ) GREAT PA9S 9 ORD] TO %[ ?AT ,G]MANY@&_?#a#d#f2S P>T 9 ! IMPORTS TO SEV]AL ,EUROPEAN C\NTRIES1 SU* AS ,RUSSIA1 ,ITALY1 ,S]VIA1 ETC41 HAD DECL9$1 AS WELL AS ! P>T ( ! ,UNIT$ ,K+DOM 1 ALL WE C\LD CONCLUDE FROM !SE FIGURES WAS1 ?AT !RE W]E O!R C\NTRIES BESIDES ,G]MANY @&_?#a#e2 NAMELY1 ! ,UNIT$ ,/ATES & ,BELGIUM @&_?#a#e2 :I* COMPET$ V]Y EFFECTIVELY ) ,5GL&1 ,FRANCE1 & ,G]MANY = SUPPLY+ :AT MANUFACTUR$ GOODS W]E TAK5 BY ,RUSSIA1 ,ITALY1 ,S]VIA1 ETC41 FROM ABROAD4 

,AT ! SAME TIME SU* FIGURES GAVE NO IDEA ( ! FACT ?AT :]E MANUFACTUR$ METAL GOODS W]E =M]LY SUPPLI$1 COAL & RAW METALS W]E IMPORT$ = ! HOME MANUFACTURE ( ?OSE SAME GOODS2 OR1 :]E DY$ & PR9T$ COTTONS W]E IMPORT$1 ONLY Y>N WAS REQUIR$4 ,! :OLE SUBJECT IS 9F9ITELY MORE COMPLICAT$ ?AT IT APPE>$ 9 ,MR4 ,GIFF5@&_?#a#d#f2S CALCULATIONS2 &1 VALUABLE AS HIS FIGURES MAY HAVE BE5 = APPEAS+ EXAGG]AT$ FE>S1 !Y CONTA9$ NO ANSW] :ATEV] TO ! MANY ECONOMIC QUE/IONS 9VOLV$ 9 ! MATT]S TREAT$ BY ,MR4 ,GIFF54 

,! CONCLUSIONS :I* ,I CAME TO 9 !SE L9ES 9 ! FIR/ $ITION ( ?IS BOOK F\ND FUR!R CONFIRMATION 9 ! SUBSEQU5T ECONOMICAL DEVELOPM5T ( ALL NATIONS 9 ?AT SAME DIRECTION4 ,! RESULT IS1 ?AT @&_?#a#e2 AP>T FROM ! EXTRAORD9>Y EXPORTS ( ! YE>S #aia & #aiaa 7:I* ,I V5TURE TO EXPLA9 BY ! G5]AL PREVISION ( A GREAT ,EUROPEAN W> GO+ TO BREAK \T7 @&_?#a#e2 ! EXPORTS FROM ?IS C\NTRY1 AP>T FROM !IR USUAL P]IODICAL FLUCTUATIONS1 CONT9U$ TO REMA9 :AT !Y W]E1 9 PROPORTION TO ! 9CREAS+ POPULATION1 & MANY ( !M BECAME LESS PR(ITABLE2 :ILE ! EXPORTS FROM ALL O!R C\NTRIES 9CREAS$ 9 A MU* GREAT] PROPORTION4 

,FROM 3 ,AN>*Y ,>*IVES4 

,*RONOLOGY 3 
,NOVEMB] #c1 #ahig 3 ,APP5DIX ,J -- ,PUBLICATION4 
,JANU>Y #a#f1 #bag 3 ,APP5DIX ,J -- ,ADD$4 

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