_The British Board of Admiralty, with the sanction of the War
Cabinet and the concurrence of the Allies, on March 21 published
a memorandum revealing the world's total shipping losses from
the beginning of the war to Jan. 1, 1918. The essential portions
are as follows:_
In the Spring of 1917 the full menace of the submarine campaign was
first disclosed. Since that date we have steadily increased our
knowledge and our material resources for this novel warfare. Three
statements are attached, showing for the United Kingdom and for the
world, for the period August, 1914, to December, 1917: