* * The Chancellor of the Exchequer, speaking - lately in
Scotland, astonished us by giving a glowing account of the present revival of the country's trade, and we were not surprised that Sir Herbert Samuel took him to task. in a speech delivered a few days later. Mr. Churchill in return had some difficulty in convincing- a Lancashire audience on Monday that he had been justified in announcing a rosy prospect, except in comparison with the wretched days of a year ago. On Tuesday the. Trade Returns for August were published and confirm this. Compared with the figures for August, 1926, -there is a decrease in the value of imports and an increase in that Of exports, which was last month about two-thirds that of our imports. s This is, of course, far better than when industry was stagnant during the coal dispute, 'but there is no reason for anyone, least of all a Chancellor of the Exchequer, to throw up his hat for joy while the balance remains so heavily against us.
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