be on those who think any of this exceptional legislation should be
retained. Of course, care must be taken, especially in matters affecting
commerce and industry, to give due notice of alterations and to change
gradually so as not to prejudice arrangements already made and contracts
in course of fulfilment.

Special attention will have to be given to the early removal of those
restraints on trade--prohibition of exports and imports--which have been
frequently necessary, either to retain in the country what is wanted to
satisfy home requirements or to prevent goods from finding their way to
the enemy, or to ensure that the limited tonnage available is used to
bring the commodities which are vital to meet the pressing needs either
of the forces engaged in War or of the civilian population. These
restraints, however, are not only most harassing to merchants and
involve much additional labour when labour is scarce, but if continued
would prevent this country from carrying on the valuable entrepôt trade
for which its geographical position, its financial resources, and its
command of shipping specially fit it. That trade at least depends on the
maintenance of a policy of the open door both for coming in and going
out. England is a good distributing centre--unless by artificial
restrictions we destroy our opportunities. Merchants and manufacturers
have been very patient as a rule under the fetters it has been thought
necessary to impose to meet War conditions; these fetters should be
removed as soon as possible. Unless this is done they will be fatally
handicapped when Hamburg and Bremen again come into competition with
them as distributing centres for the countries now neutral, and even for
those which have been in alliance with us.

There is sure to be a cry to protect certain industries; in some cases
it may be necessary to do so for a time at least, but every such claim