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 In the past, Germany's chief weapon against us has been her commercial enterprise and activity. It should now be part of our business to prevent her harming us in the future, and, in the commercial field, the strongest weapon in our armoury has hitherto remained unsheathed. Shall we, in the days that are to come, do our imperial trading on a great family scale—British goods the most favoured in British markets—or shall we here again "muddle through" on a policy which gives the stranger and the enemy alien at least as friendly a welcome as we extend to our own sons?

Perhaps, in the days that are coming, that in itself will be a question upon which the future of the British Empire will depend.