British Foreign Trade Mr. Chamberlain pointed out last Monday that
the more other countries buy from us the more we shall buy from them. An examination of our imports and exports compelled him to go on to state the converse of his propo- sition—namely, that we cannot increase our trade with other countries without ourselves buying more from them. His admission seems to indicate that it is no good bowing down before the " wave of economic nationalism which seems to be sweeping over the world "—rather, we must break it down by buying from other countries and making it desirable for them to purchase from us. The annual report of the Chamber of Shipping, commenting on the depression in the shipping trade, pointed out that Great Britain is now no exception to the spirit of economic nationalism which continues to block the exchange of goods. In adopting a tariff policy " the nation has been faced with the inevitable reaction our shipping as its chief exporting industry." If our movement of trade has been slightly less depressed than that of other coun- tries during the last year, that is not because of our restrictive policy, but because our restrictions have been less drastic than those imposed elsewhere.-
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