Page:The Bank of England and the State, 1905.djvu/75

 for our having lagged behind somewhat both in the electrical and the motor-car industries.

This leads me to the last point in my paper. Is it not strange that in this great commercial country there is no special Government Department to watch over the interests of commerce? We have, indeed, the Board of Trade, and it is interesting to note that when the first Committee for Trade was instituted in 1622, amongst the principles laid down for its guidance was "the importance of encouraging the home manufacture of wool by permitting free trade and lowering the Customs." But admirably as this department is carrying on its work, the duties imposed upon it are so varied and so numerous that it is almost impossible they should be dealt with under one roof; it comprises the Commercial, Labour, and Statistical Department, which has to deal with strikes, trade unions, and all labour questions, the Railway Department, the Standards Department, the Marine Department, which is concerned with all matters of shipping, including questions of safety and health, and life-saving, and the Fisheries and Harbour Department, the supervision of electric lighting, gas, water, the Finance and General Department dealing with patents, trade-marks, life insurance, joint stock companies, registration, bankruptcies, and so on. Has not the time arrived, then, for a new and important office to be created, which is to deal with all industrial matters and watch over the whole commerce of the nation, and which is to be presided over by a Secretary of State who can keep in close touch with the interests of our great industries, and whose duty it would be to ensure continuity in our commercial policy and keep it as far as possible removed from the political arena? Such a minister would have great power and influence, and is really urgently needed to represent in the Cabinet and in Parliament the great interests of the commercial community. Such a minister would, I doubt not, before any changes affecting the commercial policy of the Empire were proposed, seek the advice