Grey, who was and is our best friend, and who was unwilling to quarrel with us more than he was obliged to, was thrown out of office and his career ended because the blockade, owing to his consideration for us, was not tight enough.

Our delay caused his fall.
But most of all, it gave the Germans time (and to some extent material) to build their present fleet of submarines.

They were at work on them all the while and according to the best opinion here they continue to build them faster than the British destroy them; and the submarines are destroying more merchant ships than all the shipbuilding docks of all the world are now turning out.

This is the most serious aspect of the war--by far the most serious.

I am trying to get our Government to send over hundreds of improvised destroyers--armed tugs, yachts, etc., etc.