The further details of the Anglo-American Trade Agreement which have now come hand fully justify the expectations that have been expressed. Opinion in Washington holds that this document and the Canadian-
American Trade Agreement are of tremendous significance as welding the English speaking nations in the closest bond since the Great War. It goes even further in believing that the treaties point towards more closely parallel policies of the two nations in world affairs, while some even suggest that it may prove 9 Istepping stone towards an ultimate military alliance uniting all the world's democracies. That last seems somewhat of a high flight of fancy, but it may safely be said that Janything which tends to bring Great Britain and the United Slates closer together may operate for the ultimate good of the It the principles for which these agreements stand can in turn be applied to the remaining democracies, then an important zconomle bloc would be created which might very well be conducive of the well being of heir mutual trade, for all round democratic "ceiprocity would establish bonds of common interest which would undoubtedly prove beneficial. The danger, however, of following a policy which might lead to the formation of we economic blocs;—totalitarian and democratie—cannot be overlooked, for economics are still one of the most fruitful causes of war, The dictates of peace require that all the nations of the world should have access to the natural wealth of the world, and, while the Anglo-American agreements do not Interfere with such access, the wider establishment. of references for' the manufactured product might lead to the denial to other nations, not within the bloc, of means of securing the raw materials of which they might be in need, That necessitates the selling of the Anished goods and if the markets were restricted in the manner present enthusiasm would seem to suggest, nations outside the bloc might find themselves unable to purchase material for development into finished products through inability to find a ready market for the latter, What is wanted is reciprocity all round until the nearest possible proach to free trade is again established. The establishment of ex-elusive trading systems may prove a very real source of danger, and it Is to be hoped that such will never develop.
Text read from the printed page and cleaned; old type leaves the occasional error.