Free Traders with scrupulous fairness in a light the most favourable to their case, that the exports of all our principal and protected competitors are increasing even more rapidly than their population increases. France has an almost stationary population, but, even upon the surface of the figures, her exports show a vitality equal to ours. When we remember that the British returns for the last quinquennium include new ships, not previously reckoned, it becomes obvious that our rate of growth is the lowest in the list.
The detailed statistics for the last lustrum only are instructive, and will perhaps satisfy Mr. Chamberlain's opponents that the most recent movements of British commerce are not so much in their favour as they suppose:
| 1900. | 1901. | 1902. | 1903. | 1904. | Increase Per Cent. 1900 over 1900. | |
| Mill. £. | Mill. £. | Mill. £. | Mill. £. | Mill. £. | ||
| United Kingdom | 291⋅2 | 280⋅0 | 283⋅4 | 290⋅8 | 300⋅7 | 3 |
| Germany | 230⋅6 | 221⋅6 | 233⋅9 | 260⋅7 | 261⋅2 | 13 |
| France | 164⋅3 | 160⋅6 | 170⋅1 | 170⋅1 | 179⋅0 | 9 |
| United States | 286⋅6 | 304⋅3 | 282⋅4 | 290⋅0 | 299⋅0 | 4 |
It will be shown more and more clearly as the present examination progresses that the latest statistics of international trade do not in the least impair the solidity of Mr. Chamberlain's foundation arguments. Since the movement in favour of Imperial union upon a commercial basis was launched two years ago, Germany, for example, has been gaining upon us more rapidly than before. German exports for 1904 were actually larger than British exports were in any year up to 1899!
