POLITICAL ECONOMY.

Rangitikei Advocate and Manawatu Argus, Volume XXXI, Issue 8712, 11 January 1907, Page 2

POLITICAL ECONOMY.

Press Association —Copyright. London, January 10. Mr Haldane, presiding at the International Economic Congress now sitting in London, gave a presidential address. Dwelling on the brotherhood of science, he admitted that the cause of freotrado had suffered from a certain insularity and narrowness on the part of some of its advocates. .Conclusions, he said, regarding Britain were not necessarily true for other countries. Political economists were to statesmen what the general staff was to the commander of an army. It worked out principles and plans, but warned him that these were not a sufficient guide for unforeseen emergencies. Statesmen took the particular circumstances of the time and country as basis for their conclusions, hut as the conditions of nations varied their ground was oijly sura if the comparison covered a wide area, time, and space.