The Daily News. TUESDAY, JUNE 2, 1903. PREFERENTIAL TRADE.

Taranaki Daily News, Volume XXXXV, Issue 129, 2 June 1903, Page 2

The Daily News. TUESDA Y, JUNE 2, 1903. PREFERENTIAL TRADE.

When Mr Chamberlain a few days ago made his speech on the subj 'ct of preferential trade, and stated that tbe time had come for s me agreement between Great Britain and tbe co'onies, his speech failly startled , tbe world, because it was recogoi ei that it indicated a most important step on tht pare of the Home Government, and a departure from traditions which many held even more sacred than the S'fety and welfare of the Empire. By many this spwch of Mr Ohamberliin's wa« considered to indicate a split in tbe British Oabine"; but the migaifkent speech s'nee made by the Pi iuie Minister, Mr Ba!fou r , in which hj) -announced his complete concurrence with the views exrr ssed by his c lleigu •, shows that Great Bri'ain is on the eve of a complete chinge of policy > a regards her coxm rcial relations wi.h her own colonies and o her nation*. " We must possess some weapon," said Mr Balfour, " to meat those who ate attempting to disintegrate the Empire by fiscal means. We night pofimbly discuss the desirability <f raising revenue in order to bind the colonies and the Empire closer. Ic in not imaginn anyone denying that this is v or'.h paying for, if you do not piy too heavily for it." The Premier went on to say that it would be unwise to tax raw material?, but if the people were not ready to submit to a tax oa food in order to gain this object it would be impossible to carry out the large schemes proposed by the colonial Premiers. It woull never do to tax food, he said, unless the pe pie accepted it as pirt of a big policy which they heartily endorsed. "If it would mean that by a tax on food you can pufe the wholo fisctl p sitio", and the who'e Imperial position on a different and a better footing," asked the Premier, "is it so certain that the working classes would repudiate such a tax? If by a general tax. on foid stuffs it is possible to obtain from the colonies large measures of freetr<tde in manufactured goods, I am not sure that it ia not worth while. Ido not know whether the British working classes will consent to the sacrifice, or whether the colonies will consent to modify their tariffs, but without discussion no conclusion is possible, "If "hstradi tional objection of the Brit'sh to tax their food, and the traditional affection of the colonies for protection can be overcome," said Mr Balfour, " I dp not believe the evil economic tendencies precicted will occur. My vhwj are m absolute cooformity with those of Mr Chmberlain. I am not certain that the scheme is practicable, but it the Empire remains a series of isolated economic units, it is vain to hope that this branch of Anglo Saxjndcm ran attain the great triumphant des'iDy of united States," These are great ideas, nobly expressed. Three things have doubtless brought about this recognition of the uetd of a change of policy. Ist the visit of the colonials to London on tbe occasion of the Diamond Jubilee) and the Coronation of the King, particularly the Conference of Premiers;' 2nd, the visit of the Duke of York to the colonies; and 3rd the vi it of Mr Chamberlain to South Africa. Mr Chamberlain his stated his willingness to call together a Colonial Conference to arrange a policy of reciprocity, and this should be easily arranged. If Great Britain will agree to tax foreign goods and the colonies discriminate agains' foreign goods, no great disturbance of colonial finance would eventuate, but the impetus it would give colonial production and British trade would be enormous.