But there is this further. We are told that our

German exports of manufactured goods to protected nations

in^strv ^^^ decreasing. I admit the mischief that is dpne

to us by these foreign tariffs. But we must not

exaggerate. Take, for example, our production of iron and steel. That



268

is a trade which is often put before us as one that is falling altogether,
in comparison with the same trade in Germany. But what has
happened, altogether apart from tariffs ? In old days we were the happy
possessors of the hematite ores. Only from hematite ores could steel be
made, and Germany had to come to us for her supply of steel. Then
came a great scientific discovery, and it was found that the phosphoritic
ores of Germany could be utilised for the production of steel, and a
great steel-producing industry at once naturally sprung up in Germany.
She was able to supply herself and to export steel here. Wllat has
that got to do with tariffs ?

Cotton Take another case. I have spoken of tlie great

exports to exports of your cotton industry. • Out of your total

protected foreign exports I believe you send no less than one-fourth

countries, to the great protected countries — Germany, France, and

the United States. How do you do that ? Why, as I have salid before,

by your energy and your skill, and by the cheapness of your machinery

and of your building materials, which enable you to compete, with, and

to beat, other manufacturers even in those protected countries.
