COMPARED WITH EXCEPTIONS AND DEVIATIONS OBSERVABLE INTHE OTTAWA
AGREEMENTS.  THERE HAD BEEN NO CHANCE IN GERMANY'S VIEWS ON THE
MOST FAVORED NATION PRINCIPLE SINCE BEFORE 1914, BUT THE ALTERED
CIRCUMSTANCES THROUGHOUT THE WORLD WITH RESPECT TO THE GOLD
STANDARD, SEVERE EXCHANGE FLUCTUATIONS AND BLOCKED CURRENCIES
HAD RENDERED THESE DEVIATIONS FROM THE THEORETICAL PRINCIPLE
NECESSARY, IF TRADE WERE TO BE AMINTAINED AT ALL.  FOR EXAMPLE: THE
COUNTRIES IN SOUTHEASTERN EUROPE- WHICH GERMANY REGARDED AS
FALLING WITHIN THE GERMAN SPHERE OF INFLUENCE, AND WITH WHOM
VARIOUS TRADE AGREEMENTS AND ARRANGEMENTS HAD BEEN EFFECTED- ALL
HAD EXCHANGE CONTROLS OF ONE KIND OR ANOTHER.  GERMANY WAS THE
BEST MARKET BY FAR FOR THEIR PRODUCTS.  THESE COUNTRIES WERE READY
AND WILLING TO ACCEPT GERMAN GOODS IN PAYMENT AND TO ACCEPT THE
CAPITAL ASSISTANCE WHICH GERMANY OFFERED TO BUILD UP THEIR
INDUSTRIES AND TO DEVELOP THEIR NATURAL RESOURCES.  THESE COUNTRIES,
HOWEVER, COULD NOT COMPETE WITH SOME OF THE LARGE WORLD
PRODUCERS.