[February, 1902.] 
IMPERIAL INSTITUTE JOURNAL. 
Vol. VIII. No. 86. 
everyone who is acquainted with business, and has had anything to do with any kind of 
organisation among mankind, must know that if there is one thing more calculated to render 
effort unsuccessful, it is the squandering of forces of those who are interested in different and 
competing bodies. And it appears to me that this is the position with reference to the Board 
of Trade and the Imperial Institute. It is impossible not to see that, in order to carry 
matters to a successful issue, there must be unity of design and unity of administration ; 
otherwise, as I have said, you squander your forces in vain efforts of a useless competition 
between two persons in the same field, working at the same objects. That difficulty must 
be got over ; and I must say for myself, after giving full consideration to this matter, that I 
have come to the conclusion that, in order that the real objects of this Institute should be 
fulfilled, it is absolutely necessary that the first place should be taken by either the Board, of 
Trade or the Imperial Institute. It is impossible not to see that the powers of the Govern- 
ment, and their mode of administration, must be the one to prevail. 
I now beg to move the following Resolution : — 
“That this meeting of the Governing Body of the Imperial Institute, believing that 
its objects and purposes will be best carried out by the Institute and its pro- 
perty being transferred to the Nation, hereby approves of such transfer.” 
Sir David Tennant, in seconding the Resolution, said ; — -When we look back upon the 
past history of the Institute, and recall the strenuous efforts to create a success, which has 
been so long delayed, we must feel sure that the further continuance of the Institute, on 
its present lines under the existing circumstances, will not achieve that advance which we 
are all so desirous of obtaining. Division is always to he deprecated. Under these 
circumstances, I think we should do wisely to adopt the Resolution, and I am sure the 
Colonies will heartily respond to the suggestions made, — that there should be one undivided 
authority; that that authority should be the Government ; and that the Government should 
bring to its aid such counsel as they deem advisable for the furtherance of the objects of the 
Institute, and to secure for it a permanence which otherwise it might fail to obtain. 
I, therefore, most heartily second the Resolution, and feel sure that it will receive the 
unanimous support of all the Governing Body, who take a deep interest in the welfare of 
this country, of its Colonies, and the progress of trade. , 
Sir Walter Peace said : — I think myself that this proposal, which has been sprung 
upon us somewhat as a surprise, will depend, for what measure of approval it will receive in 
the country, upon the answer which will be made as to how Ills Majesty’s Government will 
utilize the Institute after the premises have been transferred to it. Whether it is to be 
made a vitalising influence, which will accomplish the objects which we all desire, or 
whether the transfer to the Government is of something which we could do nothing with, 
and will be made without our knowing what steps the Government would take to fulfil 
the objects and purposes for which the Institute was founded, I feel that the general 
opinion will be to desire that information. 
Mr. W. J. Davis (representing the Trades Union Congress of Great Britain) said: — 
I represent the working men of England, and although the Resolution was a great surprise 
to me, I entirely fall in with it. The Government manage their great Institutions so well 
that they are popular throughout this country. We have the assurance that this will not he 
an unconditional gift to the Nation, and I think that this answers the remarks of Sir Walter 
Peace. But if we found that the original objects and purposes of this great Institute were 
to be perverted, there would of course be considerable opposition to the proposal. The 
question of overlapping is a very serious one in all great institutions ; we see instances of it 
in the educational system and in the Local Government Bodies. I, therefore, think that the 
case is well made out. We all appreciate the difference between times of adversity and times 
of prosperity : now is a time of prosperity for the Institute, and I feel that we should take 
the opportunity of presenting it to the Nation. 
Lord James said : — In reference to the remarks of Sir Walter Peace, I can assure 
Sir Walter that, so far as it lies within our power, his views shall be carried into effect. 
I pointed out in my statement that this is noL to be an unconditional gift ; we are not going 
to let the Government do what they like with the Institute ; they will have to undertake to 
carry out the objects for which it was founded. The Representatives of India and the 
Colonies will have ample opportunity of considering the terms upon which the transfer will 
be made, and' the full concurrence of the Governing Body will be sought after they have liad 
full information. 
Sir Owen Tudor Burne said : — I should like to say a word, as one of those who 
have represented India upon the Governing Body of the Institute from the time of its 
birth. I think it is very satisfactory to learn that the proposed gift will not be made without 
certain conditions. Especially do I say this, because, among many who are here I represent 
a country which, after all, contributed a large proportion of the funds subscribed, and 
has been foremost in advancing the objects of the Institute — I refer to India. It is very 
satisfactory to learn that the Indian Authorities will be fully consulted in this matter, in 
regard to the handing over of the gift under certain conditions ; and I hope that the 
Memorial character of the Institute will be maintained. That Institute was built with the 
concurrence of our late most gracious Sovereign as a Memorial of her Reign ; and I trust 
that if we do hand it over to the Nation, this point will be kept in view from first to last. 
The Resolution was then submitted to the meeting by the Prince of Wales and 
carried unanimously. 
Lord Kelvin said : — I have the honour to propose that the following members of the 
Governing Body, with power to add to their number, be appointed a Committee for the 
purpose of carrying the Resolution just passed into effect : — The Lord Chancellor, the Lord 
Tames of Hereford, the Lord Chief Justice, Sir Henry Fowler, Sir Robert Herbert, Sir 
Owen Tudor Burne, and Sir Frederick Abel. 
The Hon. H. Coprland said : — With reference to the Resolution proposed by Lord 
Kelvin, I have no objection whatever to offer to it, and have great pleasure in seconding it. 
I should like, however, to say one word with reference to the Resolution which has just 
been passed, and to ascertain whether it is intended to keep a Standing Committee in the 
interests of the Institute, so as to take care that the Government act up to what we consider 
to be the best policy in the interests of the objects of this Institute. It would be desirable 
to have a Standing Committee for that purpose, and such a Committee should be a little more 
representative than the one just announced by Lord Kelvin. I think that it should include 
at least one Representative of each of the great portions of the Empire — India, Canada, 
Australia, and of all the States who have helped to build up the Institute, so as to see that 
the Government are kept up to the mark. Governments often take matters in hand which 
afterwards, owing to something else more important turning up, are apt to get shelved, and 
such poor little matters as the Imperial Institute might get overlooked. Therefore it would 
be desirable to keep a representative Committee always in existence to look after the interests 
of the Institute. 
Lord James said : — We have placed in Resolution No. 2 the words “with power to 
add to their number,” which I trust will meet the point raised by Mr. Copeland. 
After the Prince of WALES had put to the Meeting the second Resolution, 
which was carried unanimously, he said Your Royal Highness, my Lords and 
Gentlemen, I only wish to say that, before the proposal had been submitted to you, 
I did not wish to offer any opinion, but now that it has been sanctioned by you, 
I should like to express my complete satisfaction with your decision, and I am sure 
that you will be glad to hear that the King entirely approves of the course to be 
adopted. 
FINANCIAL AND COMMERCIAL 
RETROSPECT. 
United Kingdom. — The Board of Trade returns for December were 
more satisfactory then they have been for several months. In comparison 
with the returns for December, 1900, which had the same number of 
working days, there was an improvement in the imports, which were valued 
at ^46,770,097, of A 3 2 3 ) 435 j or °’7 P er cent., while the exports of British 
and Irish produce, valued at ^624,313,777, showed an increase of £ 701 , 805 , 
or 2 ‘9 per cent. The re-exports were worth ^5,912,247, against ^(5,087,220 
in the preceding December. In the imports the increase was pretty 
generally spread over every class of article except living animals, duty-free 
articles of food and drink, manufactured articles and metals. Cattle fell off 
by about 18 per cent, both in numbers and in value, but sheep rose 
66 per cent, in the former respect and 68-5 in the latter. Bacon, beef, 
butter, cheese, and mutton all increased both in value and in quantity. 
The shipments of wheat from Argentina fell considerably, and, as a result, in 
spite of larger supplies from the United States, the total arriving in this 
country was 3*2 per cent, less than in the preceding December, while a fall 
in price reduced its value by 7 ‘8 per cent. Wheat flour, however, increased 
in amount by 47,000 cwt., though its value was slightly less. Barley rose 
3S‘3 per cent, in quantity and 35 '2 in value, and in oats, owing to larger 
supplies from Russia, there was a rise of 51 ’2 per cent, in quantity and 
of 8 2 '4 in value. In Indian corn, on the other hand, there was a fall of 
over 2,000,000 cwt., while the value was reduced by nearly AA° 0 > 000 
(28-6 per cent.). In refined sugar there was an increase of 26 per cent, in 
quantity and 9 ’.7 in value, while the quantity was 30'2 per cent, and the 
value 6'4 per cent, better in raw sugar. In tea there was a slight increase 
in quantity, but the value remained stationary ; while in coffee an increase 
of 83-6 per cent, in amount only brought 26*2 per cent, improvement in 
value. Wine increased 10*3 per cent, in quantity and 8 - 6 in value. In raw 
materials for textile manufactures, the weight of the cotton imports increased 
by 445,676 cwt. (i8'8 per cent.), but the increase in value was only A"93}383 
(i’3 per cent.) ; the contribution of the United States was greater, but 
those of Egypt and India less. Flax, hemp and jute, all increased in quantity 
and to a greater or less extent in value, but raw silk fell off 48' 2 per cent, in 
amount and 44-9 per cent, in value. In the exports, coal was less by only 
173,024 tons (47 per cent.), but its value was reduced by £ 736 , 0 ?! 
(24-5 per cent.). Iron and steel were 3-6 per cent, higher in quantity, but 9-9 
less in value. In spite of an increase in locomotives, due to larger shipments 
to South Africa, machinery was worth nearly a quarter of a million less. In 
new ships sold to foreigners, there was, however, the large increase of 
<; 6’i,093,52 5. Cotton manufactures showed a satisfactory increase in 
amount (227 per cent.), as a result of larger shipments to China, Japan, 
India, and British South Africa, but the total increase, which amounted to 
93,608,700 yards, was not accompanied by a proportionate increase in value, 
which was only greater by ^609,536 or i3’5 per cent. Other cotton 
manufactures, as well as cotton yarn, showed decreases in value, though the 
latter rose 157 per cent, in quantity. In wool there was a slight increase 
of quantity, though the value was less, but woollen and worsted yarns and 
tissues were all reduced in quantity and to a still larger extent in value. 
Chemical manures were less, though the fall in the value was not so large as 
in the quantity, but soda-compounds improved 19*5 per cent, in amount 
and 14-2 per cent, in value. As will be seen from the following table 
the total volume of trade in 1901 was 07 per cent, less than in the preceding 
year : — 
; 
1900. 
1901. 
Increase or Decrease. 
Imports 
£ 
523,075,163 
£ 
522,238,986 
jC 
-836,177 = 0-15? 
Exports — British 
and Irish produce 
291,191,996 
280,498,889 
-10,693,107 = 3*6 % 
Exports — Foreign 
and Colonial mer- 
chandise 
63,181,758 
67,846,843 
+ 4,665,085 = 77 % 
Volume of Trade . 
877,448,917 
870,584,718 
-6,864,199 = 0-7 % 
An issue of ^2, 000,000 Local Loans Three per cent. Stock, resulted in 
applications for nearly 13 millions sterling, at prices varying from ^99 (the 
minimum) to £ 100 . 10s. Tenders at £ 100 . 3s. received about 35 per cent, of 
the amounts applied for ; those above allotment in full. The average price 
obtained was A 100. 3s. pd. A considerable amount of the stock is believed 
to have been taken on behalf of the Post Office Savings Bank. 
According to Lloyd’s ship-building returns, the number of vessels 
(excluding warships) launched during 1901 in the United Kingdom was 639, 
with a gross tonnage of 1,524,739 ; of these only 48 (tonnage 23,661 tons) 
were sailing ships. Of the steamers no less than 140 were over 4,000 tons 
(in 1892 only 37 reached that tonnage), and eight exceeded 10,000 tons. The 
total output of the world in 1901 (excluding warships) appears to have been 
about 2,617,000 tons, while the ships removed by being wrecked or broken 
up amounted to 746,000 tons. Hence the net increase of the world's 
mercantile tonnage was 1,871,000 tons. The number of warships launched 
in the United Kingdom was 41, with a total displacement of 211,969 tons, 
and it may be added that the amount of warship tonnage (330,000 tons) now 
under construction in this country is smaller than it has been since December, 
1897. In other countries S5 war-vessels, of 454,000 tons displacement, were 
built in the course of the year. The largest output of tonnage in this country 
