A BRIEF EXAMINATION OF FUEE-TRADE PRINCIPLES 323 



Coal Puoductiox (Board of Trade Mem.) 



FllEE-TRADEKS MINIMISE EviL EFFECTS OF FeEE- TKADE 



The writer then comments on the state of affairs disclosed 

 by these tables — luhich is distinctly inimical to British interests 

 — as follows : — 



" It will be noticed that the output of tlie United States and 

 Germany has increased much more than that of Great Britain. This 

 is not wonderful ; their industrial development began later, and 

 their mineral wealth is at the base of their manufacturing progress. 

 AVhether these countries will ultimately take the lead in manufactures 

 remains yet to be seen." * 



As the reader is quite capable of forming his own conclu- 

 sions from so plain a pronouncement of the perilous position of 

 two of our chief mineral industries, further comment here 

 would be supererogatory. 



Further on, however, "The Free-trade Movement," while 

 deprecating many things that have been said about the unsatis- 

 factory condition of British trade, has the following : — 



" Sensational alarms as to the decay of British industry and com- 

 merce have been seen to be baseless, but sufficient ground exists for 



• " The Free-trade :Movemeut," p. 209. 



