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116 on the amount and quality of workmanship that is put into it.

The bicycle trade, with some exceptions, was leaning in the same direction in 1914, and at the time of going to press has hardly recovered from the after effects of the war. It must, however, tend to develop more and more into a specialized form of trade where manufacturers will concentrate on one part, and so reduce prices and competition to such a level that no maker who attempts to make all the machine under one roof can hope to withstand.

At the time these pages went to press there existed a protective tariff on bicycles imported from abroad of 33 ⅓ per cent., which held back imports from Germany, U.S.A., and Japan.

Japan has long threatened to export bicycles to this country, Germany could do so with advantage to herself owing to the rate of exchange, and U.S.A. could possibly do a certain amount of trade here. All are at present prevented by a wise tariff from competing with British makers while the latter labour under present difficulties.

No one can tell exactly what will occur, but I think the British cycle maker eventually will be able to survive all forms of competition from abroad, but that will hardly suffice to keep him going on full time if he be barred out of other countries and only has home demands to fill.

The cycle trade has a well organized Union to conduct its annual exhibition, frame regulations for the conduct of its membership in trading with the agents, to watch its interests in Parliament and generally safeguard the industry, the members of which are practically all in the Union.

The full title of this organization is The Cycle and Motor Cycle Manufacturers' and Traders' Union, and