The Board of Trade Returns for 1905, issued last Saturday
evening, furnish another damaging commentary on Mr. Chamberlain's doleful predictions as to our declining trade and dying industries. Thus not only has the declared value of our exports of merchandise risen by £29,300,000, or 91 per cent. on the total of 1904, which in turn showed a rise of £9,900,000, or 31 per cent. on the total of 1903—the year in which Mr. Chamberlain began his campaign—but the increased export of cotton yarns and manufactures—the largest item—is equivalent to 10'68 per cent., of iron and steel to 12/1 per cent., and of other metals to 16.85 per cent. as compared with 1904. Such figures are worth a wilderness of Tariff Reform leaflets and speeches.