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"The beginning and the declaration of the unrestricted U-boat war," said Holtzendorff, "must follow so quickly one upon the other that there is no time for negotiations, especially between England and the neutrals. The wholesome terror will exercise in this case upon enemy and neutral alike."

The submarines were to begin the general attack not later than February 1, 1917. England was to be starved out in five months, and the Allies forced to surrender by August 1st. This is all stated in that memorandum, and those exact dates are given.

The probable entrance of the United States as a belligerent was discussed, and Holtzendorff took pains to set forth what little influence this country's participation could have upon the "trend of the war," saying:

As regards tonnage this influence would be negligible. It is not to be expected that more than a small fraction of the tonnage of the Central Powers lying in America and many other neutral harbors could then be enlisted for the traffic to England. For the far greatest part of this shipping can be damaged in such a way that it cannot sail in the decisive time of the first months. Preparations to this effect have been made. There would also be no crews to be found for them.