Mr. Baldwin, the new President of the Board of Trade,
moved two resolutions, in the House of Commons on Monday, as the basis of a Bill for safeguarding British industries against foreign competition. The first resolution approved of the imposition for five years of a duty of 331 per cent. on the value of certain specified articles—the product of so-called " key industries "- such as optical glass, laboratory porcelain, scientific measuring instruments, wireless valves, magnetos, hosiery latch needles, tungsten, and synthetic and fine chemicals, excluding dyes. The Board of Trade was to be empowered to define the par- ticular articles from time to time. The second resolution would authorize the Board—apparently for three years—to impose an additional duty of 33i per cent. on any foreign articles offered for sale here at prices below the cost of production, or at prices below those at which " similar goods can be profitably manufactured " in this country. Mr. Baldwin said that, until the exchanges righted themselves, we should be exposed to the danger of being flooded with cheap foreign goods, especially from Germany with her depreciated currency.
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