If we hadn't, their exchange would have gone down soon and they know it.
I shall never forget the afternoon I spent with Mr.Balfour and Mr.
Bonar Law on that subject.

They saw blue ruin without our financial help.

And now, if we can save them from submarines, those that know will know how vital our help was.

Again, the submarine is the great and grave and perhaps the only danger now.

If that can be scotched, I believe the whole Teutonic military structure would soon tumble.
If not, the Germans may go on as long as they can feed their army, allowing their people to starve.
Of course, you know, we're on rations now--yet we suffer no inconvenience on that score.