On the subject of our Insurance business and the fair-mindedness and
quickness of settlement with which it was conducted, we can cite the
same witness as follows:--

"Insurance, again, represented by the well-known organisation of
Lloyds, which in form is something between a stock exchange and a
co-operative partnership, is nowhere more elastic and adaptable than
in London. It must be said, to the credit of Lloyds, that anyone
asking to be insured there was never hindered by bureaucratic
restrictions, and always found his wishes met to the furthest possible
extent. The agencies of Lloyds abroad are also so arranged that both
the insured and the insurer can have their claims settled quickly and
equitably."

But one of the most remarkable tributes to a quality with which
Englishmen are seldom credited, and one of the frankest confessions of
a complete absence of this quality in our German rivals, is contained
in the following passage:--

"A further bad habit, harmful to our economic development, is
narrow-mindedness. This, too, is very prevalent in Germany--and
elsewhere as well. And this is not surprising. Even among the
generation which is active to-day, the older members grew up at a time
when possibilities of development were restricted and environment was
narrow. With commendable foresight many of these older men have
freed themselves from this petty spirit, and are second to none in
enterprise and energy. Germany can be as proud of its 'captains of
industry' as America itself. But many commercial circles in Germany
are still unable to free themselves from these shackles. The relations