Mr. Runciman on Trade Reviewing the progress of British trade
before Parliament rose, Mr. .Runciman naturally put things in as favourable alight as he could and gave special piomi- nence to the working of his thirteen Trade Agreements. . But when it is observed that the total growth of British exports for the first six months ,of 1934, as compared with the same period of 1988, is only 2.15 millions, one's enthusiasm cannot. be unbounded. To do Mr.. Runciman justice, his was not either; he said frankly that world trade was "the least that we can rely on for the suppoit of our people," and that present -adjustments were "only alleviations and will not tend to a permanent , cure." There were :signs'," be thought, . that the home market was nearing saturation point, and could not be expanded further without unduly endangering our export trade. The last is a. point Which Mr. Greenwood missed, when he argued that the home market was capable at once of very great expansion,. No doubt it Can be expanded, 'but unless in the result we are to burden and handicap- our industries still fnither,. it will have to be done on economic lines. Save perhaps in the acceleration of sound housing schemes, it is not easy to put One's finger on policies in which the 'Government Might have moved faster. * * *
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