Appendix II 



"Mr. Hughes and the metal companies, what are 

 " we to think of the bland internationalism of the 

 "fiscal policy which allowed Germany to control 

 " zinc and copper ? British free-traders during 

 " long years of careless peace were content to let 

 " Germans take charge of these metals, with the 

 " result that since the outbreak of war the chuckling 

 " German ring has been able to sell British metal 

 "to the British Government at three times the 

 " price asked for the same material in Germany." 



"Political and fiscal readjustments within the 

 " British Empire can scarcely be completed while 

 "the war is at its present dangerous crisis. For 

 "the moment, the energies of the nation are em- 

 " ployed to the utmost in getting men and munitions 

 "to the front. Having deliberately suppressed her 

 " military strength, Britain must now think first of 

 "restoring it. But old errors will be renewed if 

 " when the war ceases Britain has not consolidated 

 " her national position in a world full of enmity. 

 " Are we to go back to the system in which com- 

 " modities produced in Australia and used in Eng- 

 " land are exploited by Germans on the way } Is 

 " Britain herself to keep the gates open to the 

 " inrush of German goods establishing in Germany 

 "at Britain's expense the industrial and financial 

 "reserves which are the hidden strength of the 

 " army ? Philosophically it is untrue to say that 



162 



