head of the population. In France the wealth, calculated on the same
basis, is no higher, and yet in France annually 20 marks, in Germany
only 16 marks, per head of the population are expended on the army and
navy. In England, on the contrary, where the average wealth of the
individual is some 1,000 marks higher than in Germany and France, the
outlay for the army and navy comes to 29 marks per head. Thus our most
probable opponents make appreciably greater sacrifices for their
armaments than we do, although they are far from being in equal danger
politically.

Attention must at the same time be called to the fact that the increase
of wealth in Germany continues to be on an ascending scale. Trades and
industries have prospered vastly, and although the year 1908 saw a
setback, yet the upward tendency has beyond doubt set in again.

The advance in trade and industry, which began with the founding of the
Empire, is extraordinary. "The total of imports and exports has
increased in quantity from 32 million tons to 106 million tons in the
year 1908, or by 232 per cent., and in value from 6 milliards to 14
1/2-16 milliards marks in the last years. Of these, the value of the
imports has grown from 3 to 8-9 milliards marks, and the value of the
exports from 3 1/2 to 6 1/2-7 milliards.... The value of the import of
raw materials for industrial purposes has grown from 1 1/2 milliards in
1879 to 4 1/2 milliards marks lately, and the value of the export of
such raw materials from 850 million to 1 1/2 milliard marks. The import
of made goods had in 1879 a value of 600 million marks, and in 1908 a
value of 1 1/4 milliard marks, while the value of the export of
manufactured goods mounted from 1 to 4 milliards. The value of the
import of food-stuffs and delicacies has grown from 1 to 2 1/2-2 1/3
milliard marks, while the value of the export of articles of food