v REPARATION 183

German Trade (1913) according to Destination and Origin

Destination of Germany 'sExports.

Origin of Germany 'sImports.

Million £.

Per cent.

Million £.

Per cent.

Great Britain

71-91

14-2

43*80

8-1

India

753

1-5

27-04

5-0

Egypt

2*17

0-4

5-92

1*1

Canada

3*02

0'6

3*20

0*6

Australia .

4-42

0-9

14-80

• 2*8

South Africa

2*34

0*5

3-48

0*6

Total, British )

98-24

7 1Empire . . /

91*39

18-1

18*2

France

39-49

7-8

29*21

5*4

Belgium

27*55

5-5

17*23

3-2

Italy

19-67

3-9

15*88

3-0

U.S.A.

35-66

7-1

85*56

15-9

Russia

44-00

8-7

71-23

13-2

Roumania .

7-00

1-4

399

0*7

Austria-Hungary

55*24

10-9

41-36

7-7

Turkey

4-92

1-0

3*68

0-7

Bulgaria

1-51

0-3

0*40

...

Other Countries .

178-04

353

171-74

32*0

504*47

100-0

538*52

100-0

The above analysis affords some indication of thepossible magnitude of the maximum modification ofGermany 's export balance under the conditions whichwill prevail after the Peace. On the assumptions

(1) that we do not specially favour Germany overourselves in supplies of such raw materials as cottonand wool (the world's supply of which is limited),

(2) that France , having secured the iron-ore deposits,