SOCIALISM.

Dominion, Volume 1, Issue 24, 23 October 1907, Page 7

SOCIALISM.

THE ATTITUDE OF THE LIBERALS. A CHARGE RENEWED. SPEECH BY A CONSERVATIVE E I MINISTER. DY TELEGRAM—I'ItEBS ASSOCIATION— COPYUIOI London, Ootobor 21. Viscount St. Aldwyn (formerly Sir Miclir Hicks-Beach, Chancellor of tho Exchcqu in ■ Conservative Administrations), speakii at i Cheltenham,- :said tho Government's o cessivei weakness l had given- Socialism its pi sent prominence'..' ' ;■■■■• • ■■': ':'■■ : . His Lordship agreed that* it was impossib to. combat Socialism by mero .nogation at individualism, or:by tho gospel ofiselfishnes .'Much that was advocated by.Socialists, sa the speaker, was'pure robbery; and, beside the succciss-of Socialism would destroy tl ,mainspring of individual onterpriso—person: interest. ■ . : A critic of Socialism, in its municipal phas lately wrote to' tHe'"Standar(l" :—"ln 1903 t! ■'■ ;LocaL Governmout ; Board issued ■ a; racmor.ii dum dealing;, with-..the, earning .capacity ( the public money invested by local autlioritii in 'productive' industry. This memorandu: deals. with boroughs' out of, a total nun : ber'6f' 317, as it' appears that'all 1 in'iinicipi corporations in England and l Wales, withth exception, of ( . 18, .were, in -March, 1902, carryin on ono or, more 'reproductive , undertakinßi XondoriV'Scotland, ''and Ireland' are excliidc( Tho extenti of these ;business ventures include .-■ waterworks, gasworks, electrical supply, tran ;ways, markets, harbours, and such', othe: , 'undertakings;-, classified;-, as: productive: ! ' i Tli ' iShawiiii.on.au;outstanding, capital o •■£100,786,40*,wa5'.£378,281,. or less than half o '.l'per cent.; : and. this , profit, when looked intc ~ is really but.a-'paper ipVoflt.' iFor how was i .' obtained? ; l Why > :;by,,s»tting .aside for deprc ciation a sum of less than one-sixth of 1 pe ' 'cont." . "■'" I .'■■"■'■■ . - ••■" I , '-, : ' "■;'"' ' : ;'' ! " ''■■'■■ ■?\.~t-- :.;-.-.. l ":B======== -.-..,.. -....;.