THE FISCAL QUESTION.

New Zealand Herald, Volume XLII, Issue 13055, 21 December 1905, Page 5

THE FISCAL QUESTION.

SPEECH BY MR. BALFOUR. '

RETALIATION AND FREE TRADE,

By Telegraph— Association Copyright. London, December 19. Mil; Balfour, addressing four .thousand Unionists at Leeds yesterday, said he did not wish to augment nor did ho wish to diminish the differences in the Unionist party on the fiscal question. His policy was not to prejudge the question.. Protection might be right or wrong. He believed in the section of the party which was for free trade, and not'foiv protection. His views on retaliation and the fiscal union of the colonies were absolutely consistent with free trade, and not less consistent with the views of those favouring some return to the policy prevalent in America and elsewhere. Lord Rosebery seemed to think that the fiscal status quo alone really embodied the doctrine of free trade, but free trade was not a virtue practised as a man practised honesty. "We practise free trade when we do our best to maintain and make others accept it. Retaliation is a policy whereon there should be no difference in regard to principle among Unionists. We ought not to allow protection to interfere with this or other portions of fiscal reform. Preference touches a higher note than any other. Nobody can deny that if it is possible to obtain permanently free trade with the colonies in return for a microscopic tax on foodstuffs, it would be a gain to all concerned, and free traders would admit the benefit of it."

On the question of the degree and the method of preferential trade, the' colonies had not yet advanced a plan. Moreover, the duty on corn -would only be "a very partial solution, as from many of the colonies corn was not imported. There were many Imperial commercial aspects which free conference alone could reveal in their entirety, instead of isolated elements. Meanwhile it would be better to suspend judgment, since nothing would endanger the Imperial idea more than the rash introduction of the insular idea.

Mr. Balfour went on to say that protection was insular or nothing. It was alien in essence and spirit to the Imperial idea. He did not deny that a general tariff was a convenient starting point for dealing with the foreigner, but Great Britain had no general tariff, and did not require a tariff, protective or non-protective. It was a question of suasion, with threats in the background. Of all men Mr. Chamberlain had done the most to foster the Imperial idea. He had taught ,us not merely to talk about, but to feel about the Empire. ,

CARPET-MAKING INDUSTRY. London, December 19.

The Tariff Commission, summarising the evidence., states that markets which formerly offered almost a monopoly for British carpets are now closed by high tariffs. Foreign carpets are increasingly imported into the Home and colonial markets, though Great Britain's carpet trade is improving where preferential tariffs are in force.

DECISION OF UNIONIST FREE

TRADERS.

liloccived December 20, 9.42 p.m.) London, December.2o.

The Executive Committee of the Unionist Free Trade Club has passed a resolution to.the effect that it is the duty of all Unionist free traders to do their utmost to prevent the country or the party adopting a policy involving a general protective tariff, or the preferential taxation of food. ■ ' '

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