German business.

The rise of prices now prevalent in England, and the paralyzing of
great branches of trade which could not occur in an England that
really ruled the sea, may be attributed in chief part to this war of
the submarines. The advantage of the insular position of England has
been greatly lessened, thanks to this excellent German weapon, even if
it cannot be completely eliminated. But if one compares with the total
voyages of the English merchant shipping the losses of the English
merchant marine, amounting to more than 100 ships in a period of
exactly ninety days, and a tonnage of 216,000 tons, (from the totals
mentioned above there must be deducted the shares of France and
Russia,) then we must consider only that part of the British merchant
marine that entered ports of the island kingdom in this period or left
them; and one must bear in mind further that a large number of those
ships is contained several times in the English statistics, since they
do coast service.

But as valuable booty for our submarines particularly those ships are
to be regarded that import any kinds of commodities to England. And
statistics will later be able to show on the basis of these figures
the great success of the German submarine warfare, as indicated by
figures.

A glance at the map that accompanies the list of losses suffices to
show that mine fields as little as great distances are factors of
decisive importance in the activities of our submarines. The closing
of the English Channel and of the North Channel (between Ireland and
Scotland) has not prevented our boats from penetrating wherever there
was booty. Even on the northwest coast of Scotland and out in the west
of Ireland the German submarines have carried on a successful hunt.
The numbers in the little circles on the map represent the successive
ships on the list.

_The Frankfurter Zeitung adds figures given by the British Admiralty
on the same subject. These, it says, total 130 merchant ships with a
registered tonnage of 457,000 tons, from the beginning of the war to
May 26. Added to these, it says, are 83 fishing vessels with a tonnage
of 13,585 tons, making a total of 213 ships with 470,585 tons. It
says:_

These figures, however, are certainly incomplete, inasmuch as up to
March 16 there had already been announced 145 ships with a total
tonnage of 500,000 as lost, and the figures published by us above,
based upon authentic material, concerning the victims o