cialisation of industry and consequent
industrial interdependence would leave all parties to this relation less
capable, materially and spiritually, to break off amicable relations. So
again, in time of peace and except with a view to eventual hostilities,
it would involve no loss, and presumably little pecuniary gain, to any
country, locality, town or class, if all merchant shipping were
registered indiscriminately under neutral colors and sailed under the
neutral no-man's flag, responsible indiscriminately to the courts where
they touched or where their business was transacted.

Neither producers, shippers, merchants nor consumers have any slightest
interest in the national allegiance of the carriers of their freight,
except such as may artificially be induced by discriminatory shipping
regulations. In all but the name--in time of peace--the world's merchant
shipping already comes near being so neutralised, and the slight further
simplification required to leave it on a neutral peace footing would be
little else than a neglect of such vexatious discrimination as is still
in force. If no nation could claim the allegiance, and therefore the
usufruct, of any given item of merchant shipping in case of eventual
hostilities, on account of the domicile of the owners or the port of
registry, that would create a further handicap on eventual warlike
enterprise and add so much to the margin of tolerance. At the same time,
in the event of hostilities, shipping sailing under the neutral no-man's
flag and subject to no national allegiance would enjoy such immunities
as still inure to neutral shipping. It is true, neutrality has not
carried many immunities lately.

Cumulatively effective usage and the exigencies of a large, varied,
shifting and extensive maritime trade have in the course of time
brought merchant shipping to something approaching a neutral footing.
For most, one might venture to say for virtually all, routine purposes
of business and legal liability the merchant shipping comes under the
jurisdiction of the local courts, without reservation. It is true, there
still are formalities and reservations which enable questions arising
out of incidents in the shipping trade to become subject of
international conference and adjustment, but they are after all not such
as would warrant the erection of national apparatus to take care of them
in case they were not already covered by usage to that effect. The
visible drift of usag