ABSTRACT
Great Britain is, however, of all the belligerents, the country most dependent upon economic relations with the rest of the world—in short, upon sea-borne trade. For this reason there are vital financial problems to be solved in the conduct of her external economic relations. Exports are an essential weapon in our battle—without whose strength our other arms will be brought to a halt. The whole weight of our administrative machine in the field of economic warfare, and in the organisation of our industrial life, is directed to: the prevention of commodities reaching the enemy; the transport to this country; the requisitioning of machinery and men for the manufacture of munitions. The money value of our exportable stocks of gold are very much greater than they were in 1914.
