- The speeches of our larger industrialists have now, for
good or ill, assumed a. national importance. Last Satur- day's Times contained a four-column report of Lord Leverhulme's speech at the annual general meeting of Lever Brothers, Ltd. It contained many interesting things, such as, for instance, an account of Trade Union opposition to the firm's co-partnership scheme and the House of Lords' decision that a member of a Trades Union who had been expelled not in accordance with the rules of his society could be legally reinstated. But perhaps the most striking single item was some figures as to what happened when the export tax on cocoa in the Gold Coast was halved by the Governor, Sir Frederick Guggisberg. If there had been no increase in trade the loss of revenue would have been £326,000. The Governor's advisers considered that there would be sufficient trade increase to bring the net loss down to £23,000. As a. matter of fact, the trade responded so fast that there was no loss, but actually a gain of £190,000. Could one have an apter object-lesson in economic science ?
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