It was believed, when trade talks first started between Great Britain and the United States, that the Ottawa Agreement establishing the principle of imperial preference, might prove an insuperable obstacle to the attainment of any great degree of agreement between the two s. Mr. Sumner Welles, acting U.S.
of State, is reported to have stated that he had a very definite feeling of optimism with regard to a trade pact between the two nations, based on the knowledge that pourparlers were proceeding in a satisfactory manner. The fact that the trade interests of the United States vis-a-vis of Great Britain were parallel with those of the Dominions and other signatories of the Ottawa Agreements is one of the main difficulties with which the negotiators have 1o contend, but the utmost goodwill with which the negotiations have been prosecuted, and the full comprehension by the United States of Great Britain's position in the matter is paving the way for a complete understanding, and possibly an adjustment of the trade relations between the two. That is greatly to be desired, for not only will it enhance the cordiality of Anglo-American relations, but wil! erve to show the world at large that with goodwill on both sides it is still possible to reach solutions of mutual difficulties satisfactory all round. If present conversations result in the formulation of an agreement, a potent cause of friction will have been removed, but what is of even greater importance is the fact that that would be another demonstration of the ability of the statesmen of both countries to adapt their policies in a manner best for the common good.
Text read from the printed page and cleaned; old type leaves the occasional error.