These proposals are in the main an attempt to divert the trade of foreign countries, especially Germany, into British channels.
But I do want to insist that by that time every belligerent, and not simply Germany, will be exhausted to a pitch of extreme reasonableness.
And there is small hope that the Central Powers, and particularly industrial Germany, will have the politeness to wait through the ten or twelve years of economic embarrassment that a refusal to take this bold but obviously advantageous step into scientific Socialism will entail.
One or two other countries, notably Germany, set us a good example, with the best results as far as their investors are concerned."
Austria had been put outside the German pale, and Germany north of the Main had accepted unity under the hegemony of Prussia, but there still remained the four great States of South Germany to bring in.