ARE WE RUINED BY THE
GERMANS?

BY

HAROLD COX,

FORMERLY SCHOLAR OF JESUS COLLEGE, CAMBRIDGE.

Republished from the “Daily Graphic” for the Cobden Club.

CASSELL and COMPANY, Limited:

LONDON, PARIS & MELBOURNE.

PREFACE.

The greater part of the contents of this little volume appeared originally in the Daily Graphic, in the form of a series of six articles written in criticism of Mr. Ernest Williams’s “Made in Germany.” To these articles Mr. Williams replied in two letters, and to that reply I made a final rejoinder. In the present reproduction this sequence has been abandoned. For the convenience of readers, and for the economy of space, I have anticipated in the text all of Mr. Williams’s objections which appeared to me to have any substance, and, in addition, I have modified or omitted phrases, in themselves trivial, upon which he had fastened to build elaborate but unsubstantial retorts. By doing this I have been able to preserve the continuity of my argument and at the same time to cut down a somewhat lengthy rejoinder into a brief concluding chapter. Incidentally a few new points and some further figures have been added to the articles. This arrangement, unfortunately, deprives Mr. Williams’s reply of most of its original piquancy; but, in order that my readers may have an opportunity of seeing what the author of “Made in Germany” was able to say for himself, his letters are reprinted verbatim in an Appendix. I am indebted to the proprietors of the Daily Graphic for their courteous permission to republish the articles, and to the Committee of the Cobden Club for undertaking the republication. I have only to add that the opinions expressed throughout are my own, and that the Cobden Club does not necessarily endorse every one of them.

H. C.

Gray’s Inn,
December, 1896.

CONTENTS.

Are we Ruined by the Germans?

CHAPTER I.
Our Expanding Trade.

In a little book recently published, an attempt is made to show that British trade is being knocked to pieces by German competition, that already the sun has set on England’s commercial supremacy, and that if we are not careful the few crumbs of trade still left to us will be snapped up by Germany. This depressing publication, aptly entitled “Made in Germany,” has received the quasi-religious benediction of an enterprising and esoteric journalist, and the puff direct from a sportive ex-Prime Minister. Thus sent off it is sure to be widely circulated, and, being beyond dispute well written, to be also widely read. Unfortunately—such is the nature of the book—it cannot be so widely criticised. It consists largely of quoted statistics and deductions therefrom, and few readers will have the means at hand for verifying the many figures quoted, while fewer still will have the patience to compare them with other figures which the author omits to mention. As a necessary consequence, a large number of persons will believe that Mr. Williams has proved his case, and some of them will jump to the conclusion, which is evidently the conclusion to which Mr. Williams himself leans, that the only way to prevent the commercial downfall of our country is to reverse the Free Trade policy which we deliberately adopted fifty years ago.

THE ART OF EXAGGERATION.

That may or may not be a wise thing to do, but at least let us be certain before taking action, or before taking thought which is preliminary to action, that we know our facts, and all our facts. The second point is as important as the first. On hastily reading