But the imperial trade idea has changed the attitude of our friends to the south.

They have small liking for any scheme which will improve trade between Great Britain and Canada, because trade between Great Britain and Canada must be improved at their expense.

And now you cannot take up an American paper without finding the report of some commercial association demanding closer trade relations with Canada, or an American magazine in which some far-sighted economist is not urging the same thing.

They see us thinking about keeping the business in the family; with that hard American common sense that has made them what they are, they accept the situation; and at this moment they are ready to offer us better terms to keep our trade." Bingham, Horace Williams, and Mr Farquharson applauded loudly.

Their young man frowned a little and squared his chin.