On Monday the Report stage of the Board of Trade
vote was taken and the President gave his annual review. It could not be a cheerful speech, and Sir Philip Cunliffe- Lister was right not to make any optimistic forecast. He gave figures of the results in the iron, steel, coal, and shipbuilding industries, but not for textiles. Where he could point to the recent increases of production he had to admit that producers were overtaking orders unfulfilled during the coal dispute and that the increases were likely to fade away. Other increases were discounted by comparison with far greater increases in rival lands. Our exports shrink and our imports increase until the apparent trade balance is now against us by over £200,000,000. Sir Philip urged the country to buy British goods. This is one remedy, but it is the second best. He urged the cultivation of our Colonial markets, and for foreign trade he urged producers to combine firstly in employing joint agencies abroad and eventually in factory combination at home. This last highly controversial doctrine seems to have been thrown out with some levity. * * * *
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