onclude new
commercial treaties with France and assure for ourselves a really
favoured nation relation that carries the guarantee of a permanent
foreign trade now so necessary to our permanent prosperity.

In the last analysis you will find that it is France and not England to
whom we must look for the larger commercial kinship after the war. The
spirit of the awakened Britain, so far as we are concerned, is the
spirit of militant trade conquest: the dominant desire of the speeded-up
France is benevolent Self-Sufficiency.

Whether England realises her vast dream remains to be seen. But one
thing is certain: No man can watch France in the supreme Test of War
without catching the thrill of her heroic endeavour, or feeling the
influence of that immense and unconquerable serenity with which she has
faced Triumph and Disaster. They proclaim the deathlessness of her
democracy, the hope of a new world leadership in art and craft.

She will be a worthy trade ally.

V--_Saving for Victory_

By making patriotism profitable, England has enlisted an Army of Savers
and launched the greatest of all Campaigns of Conservation. No contrast
in the greatest of all conflicts is so marked as this flowering of
thrift amid the ruins of a mighty extravagance. The story of Britain's
"Economy First" campaign is a chapter of regeneration through
destruction that is full of interest and significance for every man,
woman, and child in the United States. Through self-denial a complete
revolution in national habits has begun. Out of colossal evil has come
some good.

It has taken a desperate disease to invoke a desperate remedy. The
average American, firm in his belief that he holds a monopoly on world
waste, has had, almost without his knowledge, a formidable rival in
England these past years. Whether the visiting Yankee tourist helped to
set the pace or not, the fact remains that when the war broke over
England she was as extravagant as she was unprepared.

The Englishman, like his American brother, though unlike the Scotch, is
not thrifty by instinct. He regards thrift as a vice. He prefers to let
the tax gatherer do his saving for him. He believes with his great
compatriot Gladstone that "it is more difficult to save a shilling than
to spend a million."

Contrasting the Englishman and the Frenchman in the matter of economy,
you find this interesting parallel: With the Frenchman the first
question that attends income is "How much