Page:Problems of Empire.djvu/96

PROBLEMS OF EMPIRE. , and the rate of their industrial development has increased. The exports of Germany rose from 166,000,000l. in 1895 to 222,000,000l. in 1900; those of the United States from 165,000,000 in 1895 to 286,000,000 in 1900; those of the United Kingdom from 226,000,000 in 1895 to 283,000,000 in 1900, the increase in the latter case being largely accounted for by the greater value of the coal exported.

The huge aggregations of capital under single control in the American Trust Companies, and the acquisition of some of our most important lines of steamers by the Atlantic Shipping Combine, are a reasonable ground for alarm as to the future of British industry. The American manufacturer has the advantage of an enormous home market. Owing to high protective duties he is able to make a large profit on goods sold in the home market, and then in order to spread his general charges, he can sell his surplus abroad at a price not perhaps below the cost of manufacture, but below the cost of production if the goods sold abroad were debited with their due proportion of general charges. Against competition of this character it will become increasingly difficult for British industry to hold its own.

To turn to another point of view, viz., the extent to which we depend on foreign countries for our food supplies. The fact that this country is provisioned for little more than six weeks would undoubtedly constitute a serious danger in case of war. The recognition of this fact led to an agitation a few years ago for the establishment of national granaries. It is idle to make preparation to meet invasion unless our food supply is assured. Invasion can only be possible if we lose 78