2 JANUARY 1915, Page 10

The concluding paragraph of the Note is as follows :—

" In conclusion it should be impressed on His Majesty's Govern- ment that the present condition of American trade with the neutral European countries is each that if it does not improve it may arouse a feeling contrary to that which has so long existed between the American and British peoples. Already it is becom- ing more and more the subject of public criticism and complaint. There is an increasing belief, doubtless not entirely unjustified, that the present British policy towards American trade is respon- sible for the depression in certain industries which depend upon European markets. The attention of the British Government is called to this possible result of their present policy to show how widespread is the effect upon the industrial life of the United States and to emphasize the importance of removing the cause of complaint."