THE FISCAL QUESTION.

Taranaki Daily News, Volume XXXXV, Issue 259, 1 December 1903, Page 3

THE FISCAL QUESTION.

5 GERMAN FORESIGHT.

ffARIFF EFFECTS ON" MACHINERY TRADE.

LONDON, Nov. 29. Some German manufacturers are Ityuying lamd in Emjland with a view to establishing a plant in the event of ChauiUerlain's policy being adopted. The trade journal of the machinery market, after investigating the effects of retaliatory preferential tariffs, •OTtsiders that Great Britain ■would gain little by preference and stand to lose much by retaliation. ,The colonies import £3,36-1,000 of foreign machinery, chiefly American specialties, and possibly trade worth £992,000 twould be diverted to the United Kingdom, while a retaliatory tariff would be likely to reduce exports of British machinery to Europe fry 25 per cent., causing- a loss of Over £2,000,000. VARIOUS VIEWS. s; "" LONDON, Nov. 29. 'An important meeting of Manchester Free Traders adopted a resolution strongly condemning the reversal ~ot the fiscal policy, as being certain to raise the price of food and manufactured goods, reduce trade, cause a war of tariffs, endanger relations with the colonies, and threaten the stability of the Empire. Mr Asquith, speaking at Truro, Said British exports to Germany, the United States, and France increased by 20 per cent, in 1902,' compared with 1898. Free trade tended to counteract violent and unnecessary changes. "We must consider the trade as a whole, given those forms of industry which Great Britain enjoyed—the greatest facility tor investment, labour, and enterprise."

The Right Hon. G. Wyndham, Chief Secretary for Ireland, at Ed? inburgh, said that if the proposition was the same now as* in 1861 there would be nearly two millions more employed in thirteen particular trades, or, compared with 1881, there would be 890,000 more. He Wriieved the workers w«uM insist <m volume and security of employment, and instead of invisible exports and commercial repose we .would do brisker business with the colonies. Mr Chamberlain, in a letter 'io the Bon. H. Copeland, Agent-General lor New South Wales, on preferential trade, says : " The details have yet to be settled, but that cannot be until we are in a position to negotiate. Meanwhile I do not think that anything I should ask could be more than a fair return for the large concessions I am prepared to give. If any colony wishes to remain outside such an arrangement, it can, of course, do so. We cannot force it, and would not if we could. The whole idea is based on its tending to unite the Empire. If it does not do that, I had better betbaten." _A meeting of 500 miners at Baillieston, Lanarkshire, endorsed Mr IChamberlain-'s policy practically ungarimously.

Mr George E. Foster, formerly [Canadian Finance Minister, Is touring England, and strongly advocating Mr Chamberlain's proposals. The Parliamentary Trade Union Congress, replying to Mr ChamberJam's attack, declai-ed that the .Congress' resolution condemning protection was issued by the trade to June, and was before them until September, without eliciting amendments, although numerous amendments to other resolutions were received. Soon the organised trades ■would express a strong conriemnatloH m Political " hooliganism '* The Imperial Labour" Federation has- issued a circular, in which it explains that it is not antagonistic to any other labour, but that so-called free trade is not free except to foreigners.

Lord Stanley, Postmaster-General in a speech at Manchester, said he ■wished to see free trade obtained by persuasion if possible ; if not, then by compulsion. The Spectator publishes extracts from .a letter by Mr Harry Jones managing editor of the Western Mail L WeU "«»ri that lnd ft-ies, which state that the tin-plate trade does not live upon - dumped" steel ;T Ut the H« rJ- S , W<ilCOme ** aa auxiliary He points out that every ton im ported increases the difficulty wh " n Americans and Germans experience tn competition with Britain in^he wmo«r ke ware llera * *£ "ri galvanisealtt *rdes that there BrS The iron and steel imported many during the t« October was valued at £B2O 000 Beceived 30, H. 12 p.,„. ,Wo ' xr «.••„. LONDON, Nov. 30 Ww'Jf am J Red, " ond ' peaking at Hhigram, Mid that if Mr Chamberlain chose to offer Home Rule in return for the Nationalists' assistance, the party was open to accept the highest bidder.