FISCAL REFORM.

Taranaki Daily News, Volume XXXXV, Issue 237, 3 November 1903, Page 3

FISCAL REFORM.

CABLE NEWS.

BY SLBOTIiIO THuVJSRAPH—OO?TBIPVP.

( » _- "HISTORICU3 ON THIS WAR PATH. PUR PRESS ASSOCIATION, Received 2,10.48 p.m. , London, Nov ruber 2. The Eight iloa Sir W. Vernon Harcourt, ex-Leader cf the Liberals, addressed a crowded and enthusiastic meet-iny ~at Rawtenßtall, Lancashire. Ho said it wp.s a mere presence to allege that Mr B-ilfour's ahd Mr Ohamberbii/s policies were sepira'e, as io was n. j -ink stock concern, snd | though they were skilfal cud piayf-rs they would not sore (he oid vrick and certainly vi'ould not g .in tha i honours. Io was a mere two card ] framfl, whichever you back you lose, j Retaliation nas ,joS re\lly meani, but I was a nidi e device for the feeble folk I who did not like tuxed food. Tne real wolf was the food tax disguised in the ' sheep's clo'hin" of retaliation. It. was | a shallow, hollow, indefensible scheme,; rotten before being ripe, like a medlar.' He ridiculed Mr Chamberlain's asser-1 tion that he understood the opinions of Trade Unionists batter than their leaders who opposed him. He claimed that wages in free-trade England were the highest in Europe, despito Mr i Chamberlain's contention that protec-1 I tion raises wages. The cost of living! in Germany had fallen much less than in the United Kingdom. It was mere nonsense th« he t .iked about dumping and high protection being liwety to afford Britain similar rpportunitieg. j The largest British iron magnates ridiculed the assertion that the iron trades were being destroyed, for statistics showed that iron exports were increasing largely, and the Welsh tin plates industry had entirely revived. Every cou-jtry eoviei British shipping. The importation cf watches was declining, and therfi was no truth in the alleged decay of British trade. He contrasted, the condition of trade at the close of the protectionist era with the present condition, as described in Mr Balfour's pamphlet, and contended it was a fallacy to suppose foreigners would pay. If the price of corn was not raised, colonial and British farmers would not be benefitted. Though his party had bean lectured on Imperialism, the Liberals had their own view as to what was good for the consolidation of the Empire, also that what would never unite the Empire was putting a tax on British foo-f, and leaving the rest of the Empire untaxed. Such a policy was utterly unsustainable by Mr Chamberlain's fallacious argument?, supported by baseless alarms, unproved statements, inaccurate figures and perverted facts." His contentions were contentious and were contrary to commonsense, experience, and tha cdinary practica of mankind. There was no evidence that we were living on capital, though perhaps it was badly invested. It was impossible to say anything new, and the old answer must suffice for old fallacies. Mr Chamberlain's contention that exports were the test of a nations wealth was a blunder. Exports were o r :!y cne-sixth of the wbota.. of the manufacture", and the projectors cf the H"me market w>.-ra larger than ever. Naturally other nations' exports had grown proportionately, but mora rapidly, because their trade j was in its infancy. Mr Seddon F.eeined to be tb.B only profossor* of economy who was supporting Mr Ohamb-rlain. A six millions tax on food would increase the prices at Honip and in the coloziies to the extent of nine millions more. The public were '•ntitled to a remission of taxes on sugar and tea without any new tsx. Ihe proposed nine millions tax on the manufacturers would enormously increase the price of every manufacture