THE FISCAL QUESTION.

Auckland Star, Volume XXXV, Issue 251, 20 October 1904, Page 5

THE FISCAL QUESTION.

A Seceder's Return. (By Cable.—press Association.---Copyright.) LONDON?* October 19. Lord Hugh Cecil, in a letter to "The Times," says that the fiscal policies of j Mr. Balfour and Mr. Chamberlain differ fundamentally. Mr. Chamberlain proposes to erect a general protective tariff on all manufactured goods, and Mr. Balfour, by way of retaliation, proposes a penalising duty on somo imports of a While Mr. Balfour's method may have a slight protective effect on the Home market, it will much less easily degenerate into a protective sys-, tern than Mr. Chamberlain's. • The "Tiniest" commenting on the letter, says it is significant that the most active of tbe free-food leaders has resumed his confidence in the Prime Minis--ter. 5 SOUTH AFRICA FAVOURS PREFERENCE. (Received 10 a.m.) CAPETOWN, October 19. . . Mr. T. W. Smartt, M.L__, ex-Commis-sioner of Works of Cape Colony, speaking at Fort Beaufort, said that all the South African colonies favoured preference, not only so far as South Africa was concerned, but throughout the Empire, inasmuch as it would promote the Empire's consolidation and unification, which was the ideal of those working for preference.