EDITORIAL. 
special dyes to an extent far greater than any other nation could 
cope with. Consequently, we provided that Germany should no longer be 
able to “ corner” the dye industry by insuring that, for five years, 25 
per cent. of her total production should be capable of being bought at 
the option of the Allies at a price which should be reasonable, at all 
events as low as the price at which they sold to any other nation. He 
had been delighted to read, in a German industrial publication, an 
article protesting that it would make impossible the favorite German 
“full line system ” of selling, under which their manufacturers refused 
to sell a particular dye unless the customer bought all his other dyes 
from them. It was exactly for that purpose that the clause was inserted, 
to prevent a German monopoly of dye production. The operation of 
this provision was limited to five years, because its purpose was to stir 
up England to help herself. To extend the provision over a long series 
of years would lead us to put off the time when we should apply our- 
selves to the formation of this industry. If the industry could not 
within five years become strong enough to bear its burden, and to hold its 
own against the chemistry of Germany, it did not deserve assistance. 
The time had already come for the 50 per cent. provision of the Treaty 
to be carried out. Remarking that he had been invited by the Board of 
Trade to be the English representative at Paris on the committee which 
was dealing with the 50 per cent. and its division among the Allies, Lord 
Moulton said that the committee had agreed, without prejudice to the 
ultimate proportion of the shares, that certain advances should be made 
out of these stocks. Italy, France, and Belgium together were allotted 
2,200 tons; we had the right to take 1,500 tons, and America also 1,500 
tons. The first consignment of our 1,500 tons, he believed, was now on 
the eve of arriving in this country. It started from Germany several 
days ago. He did not think there was any foundation for the idea that 
other nations were getting their shares more quickly than ourselves. 
THE AMALGAMATION AND TRADE PROSPECTS. 
Alluding to the position created by the amalgamation of British 
Dyes Limited with Messrs. Levinstein Limited, Lord Moulton said he 
found himself at the head of this great concern, which had a great 
honour bestowed upon it by the Government consenting to become a 
co-partner instead of a creditor. Since then it had received a proof of. 
the country’s confidence in a subscription of five millions. They had, in 
his opinion; such a staff that there was no dye of any importance which 
they were not prepared to make when they had the plant. The idea 
that there were secrets unknown to them, ignorance of which paralyzed 
their efforts, was absurd. It was naturally true that the experience of 
the Germans had given them skill in getting the last bit of yield out of 
a combination. It must be remembered that the German combine was 
_ one, not only of dye works, but of chemical works of all kinds, pooling 
their profits, and capable, therefore, of selling any particular class of 
things at a loss, if necessary, in order to destroy a formidable growing 
industry in a foreign country. Such a combine as that, possessing the 
sort of morality revealed in the reports published by the American 
Government, was sure to give the British company trouble, and, if they 
intended to give trouble, it could be done through the most honest and 
well-meaning people. He said he was not surprised at the attacks made 
in some quarters upon the company. He neyer expected that England 
73 
