The Report states that British trade as a whole has
not suffered from the increases in foreign tariffs since 1913. The great growth of wealth in America has caused a demand for luxuries which goes on almost irrespective of price. Thus certain grades of British goods are enabled to surmount even the present high tariff wall. The Report makes some valuable remarks on the detri- mental effect of the uncertainty created by import restrictions which continually change. The Report also in effect exhorts British traders not to think that they have only got to wait for opportunities to carry on their trade in the good old way which may prove in the end to be a very bad old way. The fact is that many of the results of the War are permanent. The times have changed and we must change with them. We must not try to sell what people do not want. We must adapt whole industries to new conditions.
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