* * Trade and the Empire By a cruel irony,
the announcement of increased tariff rates in Australia coincides with a thoughtful monograph by Mr. F. L. McDougall, Australian Repre- sentative on the Empire Marketing Board, entitled The Growing Dependence of British Industry upon Empire Markets (Stationery Office. ls.). This publication records two significant facts which dominate the present situation of British trade : that while the volume of world trade has continued to increase, though perhaps at a slower rate each year, since the beginning of 1927 there has been a steady fall in the quantum of British export trade. The falling off to only 83 per cent. of the 1918 level cannot unfortunately be attributed simply and solely to the propensity of adolescent nations for the wild oats of self-sufficiency.
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