manufacturers, who share the overhead cost, are forming to open up new
markets the world over. These syndicates correspond with the familiar
German Cartel, which did so much to plant German products wherever the
sun shone.

England, too, has wiped out one other block to her trade expansion: For
years many of her consuls were naturalised Germans. Many of them were
trustworthy public servants. Others, true to the promptings of birth,
diverted trade to their Fatherland. To-day the Consular Service is
purged of Teutonic blood. It is one more evidence of the gospel of
"England for the English!"

All this new trade expansion cannot be achieved without the real sinew
of war, which is capital. Here, too, England is awake to the emergency.
Typical of her plan of campaign is the projected British Trade Bank,
which will provide facilities for oversea commercial development, and
which will not conflict with the work ordinarily done by the
joint-stock, colonial and British foreign banks. It will do for British
foreign trade what the huge German combinations of capital did so long
and so effectively for Teuton commerce. Furthermore, it will make a
close corporation of finance and trade, with the government sitting in
the board of directors and lending all the aid that imperial support can
bestow.

The bank will be capitalised at fifty million dollars. It will not
accept deposits subject to call at short notice, which means constant
mobilisation of resources; it will open accounts only with those who
propose to make use of its oversea machinery; it will specialise in
credits for clients abroad, and it will become the centre of syndicate
operations. One of its chief purposes, I might add, will be to enable