ABSTRACT
From the point of view of the banker, the billbroker, or the dealer in foreign exchange the benefits of Free Trade are so obvious and so overwhelming that it is almost a waste of time and space to state them. The interest of Lombard Street in Free Trade has recently been admirably stated by Mr. Felix Schuster, whose half-yearly speech to the shareholders of the Union Bank is always looked forward to as certain to contain a philosophical and luminous analysis of market conditions. And Lombard Street has developed the science of dealing in credit further than any other centre—which is only another way of saying that its assets, more than those of any other, are expressed in terms of credit rather than of gold. To the Stock Exchange also the proposed restriction of British trade within the Empire could only have disastrous effects.
