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THERE-OPENING OF THE MARKET.

AFTER the armistice, the possibility presented itself J- *- again, of supplying the German cotton industry with raw material. The government, however, made certain stipulations under which the Import might be carried on, but no hymn of praise can be sung about them. Notwith« Standing all difficulties, cotton found its way into the coun= try, and when, finally, all government measures were can= celled, the legitimate business was restartet. All round the Bremen market, competition had grown. Rotterdam made great exertions to push Bremen aside, even Copenhagen made similar endeavours. A few American firms, whidi were hostile to Germany, didtheir bestto circumventBremen. These efforts, however, were not crowned with success, Bremen regained its position. It has been shown that the natural development through many years, cannot be killed and artificially replaced. The manifold relations, started in peace=time, of personal or business diaracter, showed their value. The economic life flows through a great net- work of diannels, should these be artificially closed, they will re=open again of their own accord, as soon as the barriers have been removed. Düring the war, the German

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