6. This is a manufacturing country and upon the continnance
 of our manufactures in a healthy and stable condition
pur greatness as a nation depends and must continue to
depend.

7. We cannot contemplate this country if reduced to
trading and finance being able to support a population of 46
million people. Under such circumstances it would with
difficulty support 18 millions.
8. These facts are elementary, and it might be thought
that the first care of our legislators, keeping these facts in
mind, would be to frame their policy in the direction of the
conservation and development of industry, or, at least, to
refrain from impeding industrial development.

9. So far from this being the case it must be realised
that for the last two decades sentiment and sentimentalism
rather than reason have been the mainspring of domestic
policy.

10. The industrial ignorance of political parties in this
country, and the readiness with which they have from political
motives added to the burdens on industry, is illustrated by
the fact that during the last 40 years social burdens have
increased by about 1,500 per cent.

11. In vain have protests been made as to the inevitable
result of such a course; in vain has it been urged that the
cumulative effect of such burdens and their accompanying
administrative expenses must sooner or later result in a
declining industry and a bankrupt Treasury.

12. It is indeed time that we faced facts. Democracy
instead of being bribed by promises and benefits must be
told the truth.

13. The passion for making royal roads for everyone
from the cradle to the grave must give place to the consideration
 that in a well ordered State, the conception of
the State as a fairy godmother is a fundamental fallacy.

14. The prosperity of a people depends on their own
exertions and the measure of that prosperity must govern
anv State henevolence.

15. The example set by the State in the matter of
extravagance has served as an encouragement to local
authorities.

16. Such extravagance, national and local, is draining
the country of money and is engendering in the people a
feeling of false security which is being translated into apathy.