[To the Editor of the . SPECTATOR.] Sm r –Some of your
corespondents who urge your readers to buy British goods imply, in their arguments, that when anyone buys imported goods they deprive their fellow-country- men of the employment represented by the value of the foreign goods they purchase. This is incorrect, as • the following
example will show , .
If I spend £1,000 on a British motor car, I give employment in the motor :car and allied industries in this country.- If. I purchase an imported car for the -same sum, there will be Jess employment- in the motor-ear trade, but a corresponding amount of employment (equivalent to my thousand pounds) in some other industries. No foreigner sends cars gratis to this country. He must be paid ultimately by our exporting goods, or by rendering services which will give employment in other industries. We cannot export unless we import an equal value of goods or services. The adjustment of imports and exports •may be spread -over a period, owing to loans, etc., but the above example is typical of what ultimiftely must occur in all our foreign trade.—I am, Sir, &c., .
W. HOWARD HAZELL.
19 Montagu• Street, Montagu' Square, W. 1,
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