You will be interested to know that despite the fact that the me troduction of the Flat Rate coincided with the beginning of a period of trade depression it-was followed im= mediately by an increase in" the volume of Empire trate practically everywhere and this continued during a. period when the volume of non-Empire trae was falling, 'There seem, therefore, to be reasonable grounds for the' belief that the Flat Rate scheme had the effect of diminishing the effect of trade conditions on Empire trame and it may be hoped that this in turn Will diminish the effect of general world conditions on Empire trade, Tt is gratifying to note also that since the commencement of this year
Text read from the printed page and cleaned; old type leaves the occasional error.