Speaking at Manchester on Monday Mr. Churchill discussed such interesting
questions as currency, Ration- alization, Safeguarding, and the position of the cotton trade.
" There is another thing," he said, which. I do not think would do us any good at the present time, and that is a 'stand-up old- fashioned fight about Protection and Free Trade. I am glad to think that there is no question of a revolution in our fiscal system for the establishment of a general system of Protection. The Safeguarding of industries ought to be argued out, not as a question for the hustings, but as a question for business men. And in pleading for this matter to be kept out of ordinary polities, let me say that I presume that the great majority here are Free Tr:aders- as I am myself. But we should make a great mistake if we did not readily address ourselves to new facts and new forces."
As regards the cotton trade, Mr. Churchill said : "There is no doubt whatever that easier times are coming." The Bank of England had co-operated in an almost unprecedented manner in the rehabilitation. He was convinced that the reconstitution of the cotton trade now being undertaken would end in a triumph for Lancashire.
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