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 natives are, the better for you; for it means more trade. All the gold, ivory, oil, rubber, and timber in West Africa are useless to you without the African to work them; you can get no other race that can replace him, and work them; the thing has now been tried, and it has failed. Whereas in South Africa the converse is true: you can do without the African there, you can replace him with pretty nearly any other kind of man you like, or do the work yourself. The second difference is, that the land in South Africa is worth your having, you can go and domesticate on it; whereas in West Africa you cannot. A failure to recognise these differences is at the root of our present ill-judged West African policy, outside the Royal Niger Company's domain; by introducing South African methods we are trying to get what is of no use to us, the Landes Hoheit, and thereby devastating what is of use to us, the trade.

However, I will not detain you over this interesting question of Chartered Company government. I merely wish to draw your attention to the two breeds, the Land Company, and the Trade Company; and to urge that they are things to be applied in their respective proper environments. I can honestly assure you, I know every blessed, single, mortal thing that can be said against the trade form which I admire, for I have lived under a hail of this sort of information since I was discovered by my big juju, Liverpool, to be such an admirer of what I called a co-ordinate system of government and trade, and Liverpool called divers things.

I shall go to my grave believing that Liverpool had reasons for attacking the Company, but neglected fundamental facts in its controversy with the Trade Company, which, to it, was "a little more than kith, and less than kind."