THE FISCAL ISSUE.

Press, Volume LX, Issue 11691, 18 September 1903, Page 5

THE FISCAL ISSUE.

THE CABINET AND MR CHAMBERLAIN. MR BALFOURS MANIFESTO. AN IMPORTANT BLUE BOOK. United Press Association—By Electiio 1 elegraph—Copyright. LONDON, September 16. The statement by the "Standard" that it is understood that the Government will adhere to its determination to attempt no innovation of policy until after appealing to the country, the action of Ministers meanwhile being limited to discussions and inquiry, and the further report by the same paper-that tho question of preferential trade within the Empire will form no part of the Government's collective policy, continues to be a subject of interesting discussion. The "St. James Gazette" contradicts the "Standard's" information, and urges, in support of its contradiction, that the momentous issue of trade preference within the Empire cannot be indefinitely postponed. The "Gazette" adds:—"Were the Cabinet to arrive at the decision indicated, a reconciliation between the Cabinet and Mr Chamberlain would be impossible, the result being that Mr Chamberlain would immediately resign his office." MR BALFOUR'S PAMPHLET. IN HARMONY WITH FREE TRADE. LONDON, September 16. In the course of his notes on trade preference to his colleagues, Mr Balfour declares: "I am in harmony with the true spirit of freetrade, and am asking freedom to negotiate in order that the freedom of exohange may be increased." OPINIONS OF THE PRESS. LONDON, September 16. "The Times," commenting on Mr Balfour's notes on trade preference, says: "Mr Balfour's active sympathies are with Mr Chamberlain's policy. It is hardly possible to suppose that he will not meet Parliament to defend these principles. If vacancies occur, doußtless they will be filled." The "Standard" declares that Mr Balfour's cardinal idea is potential retaliation. He has passed tho stage of the "open mind" to the fixed belief that the principle of a tariff for exclusively revenue purposes must no longer dominate our policy, but he does not indicate the specific steps to bo taken. The "Daily Mail" says: "Mr Balfour's manifesto is a great political surprise. He points to the origin of the decline in trade, but does not mention food taxes." The Liberal organs describe the manifesto as an advocacy of protection. LONDON, September 16. The "Westminster Gazette" declares that Mr Balfour's absolute silence upon the question of colonial preference is no proof of its abandonment. The country is entitled to believe the Cabinet is sticking to its mandate of protection within the limits of their own discretion. Clearly, Mr Balfour is not strong enough to demand Mx Chamberlain's resignation or the withdrawal of his policy. The "St. James's Gazette" says that, though Mr Balfour and Mr Chamberlain are advancing towards the same goal on converging lines, it is regrettable tha t Air Balfour's pamphlet tries not to emphasise the importance of preference for the colonies. The policy will fail, unless preference is conceded to Canadian com and Australasian meat. TRADE FIGURES. LONDON, September 16. A Blue Book has been issued, covering 500 pages, which shows that between 1890 and 1902 British exports of . manufactured and partly manufactured articles to Germany, Belgium, Holland, France, Russia, the United States, and Italy fell from £83,629,000 to £69,837,000, while the exports to all foreign countries fell, from £149,651,000 to £131,688,000. The exports to British possessions in the same period rose from £79,154,000 to £95,959,000. AUSTRALIAN OPINIONS. SYDNEY, September 17. The "Herald," commenting on Mr Balfour's pamphlet, says: "The speech next month may be intended to prepare tne way for a more definite statement of the proposed policy of retaliation. Tho notes may represent a pilot balloon, sent up ro try the wind, on such ground as uie "Standard" announced. The decision of the Cabinet may resolve itself into an effort to run in protection by a side door, aud tho fight for freetrade may only be just begun. We are hopeful, however, that Mr Balfour and Mr Chamberlain will realise the hopelessness of the outlook, and not be unprepared to place the more serious questions which demand at tention in the foreground. It would be worse than madness to fiddle on protection while the Balkans are in flames, and Europe is in danger of a mighty conflagration." NOTES FROM THE BLUE BOOK. WAGES AND FOOD. (Received September 17th, 10.6 p.m.) LONDON, September 17. The. Blue Book contains a memorandum declaring that it is an established fact that Continental and American tariffs checked British exports, especially of manufactured articles. The excess of imports over exports tends to increase since the year 1850. The proportion of exports to protected markets has fallen from 56 to 42, while that of exports to unprotected markets has risen from 44 to 58. A chapter on food shows that the- German workman during the past five years has been able to make 100 marks go as far as 112 did twenty years previously, while the corresponding figures in England are 100 and 140. The memorandum adds: —"But statistics cannot determine the comparative welfare of the workers of different countries, owing to the differences in their wants and tasks. Since 1881 Germany is the country showing the greatest rise in the rate of wages. BIRMINGHHAM CHAMBER OF COMMERCE. LONDON, September 16. The report of the Tariff Committee of the Birmingham Chamber of Commerce favours preference to the colonies on the basis of

CABLE NEWS.

reciprocity, suggesting moderate duties on Britain's foreign products exclusive of raw materials. A FRENCH CRITICISM. PARIS, September 16. The newspaper "Le Temps," commenting on Mr Balfour's manifesto, says the fear of seeing Mr Chamberlain resign keeps Cabinet, on the brink of irreparable quarrels. Mr Balfour treats him with circumspection, and finally adopts his opinion. -Mr Chamberlain, the paper adds, has become Britain's first politician, and practically the Empire's pastor under tho new incarnation. HMr Chamberlain shatters the Unionist party in order to become Premier, Mr Balfour will have wished it. FOREIGN OPINIONS. LONDON, September 16. German newspaper comment is gingerly cautions. The American newspapers declare tho manifesto to be a statesmanlike document, and to propound a fair method of conserving national interests.