• The figures of trade balances are always tricky things
from which to make deductions of causes and effects. In dealing with them here gold and coin are omitted as not comparable with other primary products or manu- factures. The adverse balance of the United Kingdom in her trade with the Dominions is shown to be £100 millions in favour of the Dominions. The export trade from this country to the continent of Europe and other. foreign countries is not forgotten. The delegates remind their colleagues of our 2,750,000 out of work here, and say that "Anything tending to check the foreign exports of the United Kingdom must lessen the purchasing and saving power of her people and so damage the markets on which the Dominions so largely depend for the con- sumption of their products." We rejoice to see this broad view of the freedom of exchange and the circula- tion of commerce. Trade finds its own best channels when unrestricted. When a bargain is struck between traders in two countries, others may profit and payment be made not directly but through widely distant parties whose trade is stimulated. Mr. Chamberlain makes himself responsible for words that might have been found in the -Spectator during our controversies with his father nearly thirty years ago.
