According to the figures of the National Foreign Trade Council, the total volume of international trade is about what it was the year before the War. For the fiscal year ending June 30, 1913, total exports of the 15 leading nations amounted to $15,800,000,000, while for the fiscal year ending in 1925 they have aggregated $15,088,000,000a decrease of only 5%.
However, this apparent return to trade normalcy does not tell the whole story. Some individual countries have greatly increased their exports between the two dates taken, while others have shown serious decreases in...