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the best Peacemaker, because it wil remove one of the greatest causes of international jealousy and friction.

So much has been written on this question that I may suppose the reader to be acquainted with its position, which is that universal adoption of Freetrade is admitted to be desirable and that this has assumed the weight of an axiom which needs no proof. — But as a lucid illustration of the interdependance of the nations and their industries and trade I cannot do better than quote Mr. Norman Angell in his address to the International Congress for Free-Trade, which Was to be held in Amsterdam in September 1914, and in which he says: "What do we mean with "German" trade in an international sense? Take "the owner of an Ironworks in Essen, who builds "locomotives for a railway in an Argentine province "(for which railway the capital was found in Paris), "which railway has become necessary for exporting wool to Bradford, where work has increased owing to sales in the United States, which were caused by the high prices obtainable there, owing to the development of agriculture in the West, which had necessitated the fertilisation of desert land now no longer available for sheep-farming. If the money had not been found in Paris, (which now is due to good wine -and olive crops, which are chiefly sold in London and New-York ) and if the Bradford manufacturer had not required the wool, (he may have found a market for woollen blankets amongst the miners in