FISCAL UNITY.

Taranaki Daily News, Volume XXXXV, Issue 132, 5 June 1903, Page 3

FISCAL UNITY.

THE CRUX CF THE SOHEMS. Per Press Association. London, June 3. The financial Times says that Australian apprehensions with regard to the preferential trade proposals are unfounded. It is not a zollverein that is proposed P 'sslbiy r.h : Empire's variety of product' s r-cdsrea a srict oust ms union impracticable, No colony was asked to alter,its fiscal system, the only proposal being one to enable Britain to reciprocate preferential trea'ment, and protect Briieh trade against attacks from abroad. OPPOSITION VIEWS. Received 4, 1t.4 p.m. London, June 4. Sir Edward Grey, speaking at Belford, said Mr Chamberlain's proposals ueant a rise in the cost of living all V Dund, and utdrrmined the whole baeis of cur trrde relations. Protection invariably led to lowering wagpp, because it ms'.nt a reduction in trade. If the Empire was independent of foreign trade there wou'd he no pensions. Sir Charles Dilkf, in a speech at Gloucester, said the ah'ask from advccacy rf a duty or; coU.on which the larger United States export, but proposed a duty on grain ard meat. The int-iferenre with the United States' trade would weaken ote of Britain's greatest securities in b general war, because the American fleet would protect tbe tights of neu trals, feeding us as a last resart, while we fought Mr' Eurt, in his monthly report to the Northumberland miners, says he cannot cocceive a worse way of raising money, or likelier to b:ing ruin and disaster than a tax on food,supplies and raw material.

FURTHER EXPLANATIONS, Received 5, 12.30 a.m. Lokdon, June 4, Mr. Chambsrlain, in reply to a corn epondent, states that in order to secure preferential rates from th> colonies for British manufactures, it will be neeessiry to giv?» pr< ference to their products here, which chiefly consist of food. Assuming a small dutv was placed on foreign corn, wlile Canadian and Australian ei'er free, the result would probably be that bef< ra !on« the whole trade would be in the colonials' hand?, and thf ir trade with manufactures proportionally incrcßFel.