Iniperinl C1icmic:il Industries, I,td ., the greatest nierger in the history of British industry, is barely nine niontlu old, ant1 is becoining iiicrcasiiigly rccogiiised as one of the ninin fi1ctol.s in Imperinl trndc nntl Impcrinl industriiil relntions. It is unnccessmy to rlctnil tlic m:iny ndviintnges of t,he proccss of :unalgnmations in industry. During t.Iw Iiiet 20 years tlic economic trcnd of industries throughont the world Iiiis been towards tlic growth of bigger ant1 bigger unit-s. In Amcricn tlic tentleiicy has developed far niorc tlinii iii tliis coiiiitry, : i d in Gcrmiiny, owing sometimes to the conciirrence, nncl somctimcs nlniost to the conipulsioii of tlic goveriiinciit, cartels linve incrensctl in number.
Wllc~l ~,IIc strength s~lrl iid?tllltngcs of tliis economic tendencjwere invcstignted i t wns decided tlint the chicf clicniicnl nntl nllied producers in t!iis country should forni, not n cartel, but i i coniplctc sninlgnmntioii or niergcr. It wns felt thnt .siiccessful 81s the Iiistorics of the inilivitiunl compnnies lind been, niitl prosperous ns the WIIOIC industry was under tlic existing conditions, in order t o enslire the snpreiiincy of tlic I3ritish chemical intliistry throughout the Empire, it slioultl form one indivisiblc ~h o l c , capable of negotintiug or combnting upon cqunl t e r m with the nlreiltl~ iiinn1giiin:Lted industries in Aincrica and Germany.
Any industry ~vhicli conilietcs in tlic world's mnrkcts must keep up witli \rorltl econoniic tendencies. Thc cliemiciil indnstry has done so, and will continuc to do so. For, by the pooling of finnncial nncl other rcsourccs, by the pooling of in forinn tion and resciirch processes, by forming n united front in tlie mnrkcts of the world, in nil directions, in industry, in finiincc, in production, in distribution nnil i n si~lesmnnship, economies coultl be effected \-hich \voultl incrensc tlic prosperity of the industry, incrensc tlic prosperity of tlic consunier, whether intcrnietliritc or end, and nllo~v tlint Iiiglicr standnrd of living which nll desire to see npplied to industrin 1 rrorkers,
The clicniicnl industry plilys sic11 n n i ~i i p ~r t n n t rind predoiominnnt pnrt in id1 industrinl dcvclopiiicnts that. the two stntcnicnt,s " Clieniicnls foriii the foundtition of