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(Continued from page 866.) The April number of World Trade contains the usual amount of useful solid material, but only one or two contributions of special interest. M. Theunis, as President of the International Chamber of Commerce, reviews economic conditions in 1929. He notes that " the margin of profits of British industries is very small, which makes their reorganization very difficult. Besides, bound by tradition, English banks show a certain hesitation towards direct intervention in industry." One hopes that Mr. Thomas' co-operation with the banks has already made this statement somewhat out of date. A Supplement to this issue of World Trade contains résumés of the reports by the various National Committees. " Ivanhoe " writes shrewdly on Rationalization, and Herr Franz von Mendelssohn in an editorial foreword makes pertinent and well- deserved criticism of the recent conference on the treatment of foreigners held under the auspices of the League. The International Chamber of Commerce, he, says, is consulted by the League—which is a good thing—but " it would at times be desirable that the League of Nations should not content itself with listening courteously to the suggestions of the International Chamber, but that it should also follow them ! " By far the most interesting contribution is a review by hi. Rene Arnaud of a book,' Les Deux Europes, to which we hope to refer in a future leading article.
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