-11- Canada alone exceed by $200 millions total exports to South America. While all this trade would not disappear with the defect of Britain and the downfall of the Empire, it can certainly be anticipated that every effort would be made by the victors to divert Europe's purchases to totalitarian sources of supply, and the vastly increased prestige and power of the dictator States would be fully utilized to curtail American sales to Latin America and the Far East. Furthermore, the United States at such time would be primarily preoccupied with military measures and would be handicapped in promoting its own overseas commerce. The defeat of Britain and France would give such an impetus to the German system of government controlled foreign trade that, in self defense, a parallel system would have to be adopted in the Untied States. It would not be an exaggeration, therefore, to say that the downfall of the British Empire would cut American exports at least 50 percent in volume. It is estimated that approximately 3 million American workers are directly engaged in producing for the export trade. Half of the cotton, a third of |