June 15, 1916 
LAND & WATER 
EMPIRE HOUSE, KINGSWAY, LONDON, W.C 
Telephone: HOLBORN 2828 
THURSDAY, JUNE 15. 1916 
CONTENTS 
Der Tag. By Louis Raemaekcrs i 
The Economic Conference. (Leading Article) 3 
The Russian Offensive. Bv Hilaire Belloc 4 
Battle of Jutland {continued). By Arthur Pollen ii 
Epitaphe (A Poem). By Eniile Cammaerts 13 
Letters to a Lonely Civihan ^4 
A Bad School for Statesmen. By L. P. Jacks 15 
Sortes Shakespearianae. By Sir Sidney Lee 15 
The Air Board. By F. W. Lanchester 17 
Union Jack Club Extension: Special Appeal 19 
Choosing Kit ^ -^ 
THE ECONOMIC CONFERENCE 
Two weeks ago we spoke of the endeavour to 
arrive at a settlement of the Government of 
Ireland difficulty, "as the first experiment in 
constructive statesmanship which this world- 
struggle has caused to be attempted within the British 
Empire." The Economic Conference which began in 
Paris vesterday, is, if we look at it aright, the second 
serious attempt in the same direction. Its importance 
from the Imperial point of view is emphasised by the 
presence of the Prime Minister of the Australian Common- 
wealth and the Canadian Minister of Trade and Com- 
merce. That Mr. Hughes and Sir George Foster should 
be taking part in an international council which has for 
its main object the defence of the peaceful nations of the 
v,-orld against renewed treacherous aggression after the 
war in almost the very hour that the men of Canada 
and Australia arc lighting heroically in the trenches 
against the onslaught of Germany, is in itself an event of 
singular significance. We have pointed out that a 
solution of the Irish problem might possibly be the easier 
at this time in that the constitution of the Imperial 
Parliament would be one of the first questions demanding 
revision when peace was given back to us. That this 
is an accurate view is established by the proposals placed 
before the Irish Parties wherein it is stated in distinct 
terms that immediately after the war an Imperial Con- 
ference of representatives from all the Dominions of the 
Empire will be held to consider the future Government 
of the Empire. But at Paris the supreme right has 
practically been conceded, and freely conceded, to the 
Dominions of representation when questions affecting 
the Empire as a whole are under discussion with the 
friendly Great Powers of Europe. This is an immense 
stride towards Imj^erial union on a sound -and common- 
sense basis. It will be cordially welcomed by all men 
of thought throughout the British' Empire. 
We speak of the Paris Conference as an economic 
conference which is, of course, quite correct in that it 
deals with questions of trade and commerce. But 
we must be on our guard against confusion of ideas, for 
with Germany commerce is not peaceful barter, but 
preparation for world-power at a future date. Not a 
nation or state e.xists which is not suffering from Pots- 
dam's cunning and cleverly organised trade campaigns. 
The number of German firms which have been conducting 
prosperous business in these islands and which are now 
being closed down is amazing to most people. There 
does not appear to be a single industry which has not 
been eaten into by Teuton traders who, like the lesser 
vennin of the tropics, have a curious instinct for 
LAJNU(X\VAiI^K 6 
assimilating themselves to their surroundings and counter 
feiting the very substance on which they work destruction. 
While that is so at home, it is far more the case in the 
Dominions and Colonies. We hope that Mr. Bonar Law 
may signalise his administration of the Colonial Office by 
tabulating exact figures and facts from all parts of the 
Empire showing how Germany has eaten into British 
trade during the last two decades. We ought also to 
have details of the way in which British traders have 
been welcomed in (jerman Colonies, and how they have 
been allowed to carry on their business without let or 
hindrance (if such instances exist, which we doubt). We 
know that not only have British firms received no en- 
couragement t(j plant themselves in Germany, but no 
obstacle or injustice has been spared to prevent them 
taking root there except through German Agents. 
Not a person in his senses can believe that the free trading 
of the past will be permitted to Germany in the future, 
if it can be prevented. 
Can it be prevented ? We believe so, but not easily 
or without sacrifice. All trade questions are in them- 
selves complicated and intricate, and this question of our 
economic relations with Germany after the war is still 
further involved in that we shall have to deal with an older 
intellect than the Teuton and with a race of world-wide 
ramifications and outstanding ability and age-long 
experience in trading. Germany's peaceful penetration, 
as it is called, could never have attained its gigantic 
dimensions in so short a period had not the organising 
and executive power been largely furnished by Jewish 
brains. It is folly to blink that truth, for it will be a 
dominant factor in the future. Mr. Hughes in one of 
his earliest speeches in London said : ." We may be sure 
that the great commercial interests of Germany drank in 
with avid zest the teachings of Treitschke and Bernhardi." 
Evidence abounds that this was not the case ; Ger- 
many's great commercial interests lived in terror of these 
very teachings ; this w(jrld-war atos a continuous night- 
mare to them, for possessing to the full those fine qualities 
of the Jewish blood, patience, perseverance and far- 
sightedness, they saw world-power within their grasp 
provided nothing occurred to alann the rival nations 
for another twenty or at most another forty years. The 
Declaration of War, or to be more exact the Battle 
of the Marne, when the quick destruction of France was 
seen to be impossible, was the end of .their dreams for 
the time being. 
As certainly as the sun will rise to-morrow, thesa 
same brains, directly peace returns, will plan and scheiTle 
to build up their ruined hopes on the old foundations. 
Doubtless already they are hard at work^ No prejudice 
can obscure the truth that the rapid coniniercial rise of 
Germany throughout the world has been a miracle — 
an achievement of which any nation has the right to be 
proud. It is the purpose to which it has been turned 
that is the danger, and the Powers will deserve neither 
pity nor mercy in the future if they shut their eyes to it. 
We may be certain of two things ; first, that the enemy's 
commercial interests will do everything in their power 
to persuade the Allies that Germany after the war will be 
a new (iermany, and therefore safeguarcls will be un- 
necessary ; secondly, that no attempt wil' be spared to 
foster and develop confiicting interests and trade rivalries 
between the Allies. Against both these perils we must 
be on the watch. It seems an elementary precaution for 
the Allied countries to agree on withholdiiig from Ger- 
many for a period of at least five yeai'-s, but pre- 
ferably longer, all most-favoured-nation clauses and on 
miposing adet[uate trade restrictions to enable the 
economic conditions of their own people to revert to the 
normal. Though this involve sacrifice, it were nothing 
as compared with the sacrifices we have endured owing 
to our neglect of adequate precautions in the past. 
