British Industries Fair It is true, as the Duke of
Gloucester pointed out at the opening of the British Industries Fair, that peace for our export trade, is, in Lord Burleigh's words, " the sovereign sole medicine of all." It is, however, encouraging that after a year that has exposed trade and industry to many shocks, the President of the Board of Trade could point out that the health of British trade was not so pre- carious as some would have us believe. This country is the largest purchaser in the world. In 1937 our imports exceeded fx,000 million in value. Even during the reces- sion of last year we bought over £920 million—a total greater by £60 million than our imports in any year since 193o. Clearly we can only continue to provide the world with this great market for its goods if nations from whom we buy spare no effort in return to increase their purchases of British goods. Our whole standard of living depends on the maintenance of our export trade. In the meantime the Fair is proof that British industry is prepared to offer skill and versatility in craftsmanship, and alertness in methods of salesmanship and display. British manufacturers arc increasingly learning the folly of competition between different sections of their own trades. Similar agreements with foreign traders would bring general prosperity much nearer.
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