THE FISCAL QUESTION.

Taranaki Daily News, Volume XLV, Issue 251, 15 December 1903, Page 3

THE FISCAL QUESTION.

REVENUE AND'TRADE, LONDON, Dec. 12. The Duke of Devonshire, in a letter, advises MecKors sympathising With the Free Food League not to support Unionists who express sympathy with Mr Ohamberlain:s policy.

Sir Thomas Sutherland, Chairman Of Directors of the Peninsula and Oriental Company, presiding at a Tneeting of the Company, said he was Confident Australian trade would Speedily revive. He did hcit desire to enter the fiscal controversy, but So far as a revenue of eighty millions of British 'shipping 'being" avail ale to pay for an equivalent amount of imports was concerned it >vftuld be a more correct estimate to say that owing to shipowners' heavy disbursements only' tme half would be available m payment for imports.

LONDON, Dec. 13. Sir W. Vernon Harcourt, in a Speech, admitted that dumping required very serious consideration. He was prepared to study the proposal. but did not believe taxation Of food . could remedy dumping, tojiith was the outcome and result fcf. protectee®. Criticised Mr Chamberlain.s . scheme; find drily asked wbat we would get in return for taxation on food. There was no evidence that preference would create a material bond between the Motherland and the colonies. He wou.ld like to .sVo the wheat fields of England more cultivated, but to talk ol doing that by a 2s duty was mere nonsense. Germany was unable to do it with 7s, and France was unable to do it with a twelve shftlhigs duty. In order to make Britain self-support-ing twenty shillings would not suffice, and we would deprive ourselves of tb« world's wheat fields. It would be madness to tie the hatods bf futurfe finance , ministers. The Government was derelict—-it had lost its best officers and was washed ab\)ut by waves over which it had no control. Sir Bdwarid Fry, art Loads, asked whether we were sure the colbhjes meant the same thing as ourselves by preference tariff. We heard of flhelr passing mafiy resolutions, but it was plaan their idea was to increase the duties against foreigners while diminishing tfhem against British. Mr» Chkmberlsun's proposals would drag us into protection, bring with it heartburns and disappointment, and lead to political logrolling by people seeking to enrich themselves at the community's expense.

OTTAWA, Dec. 14. Sir R. J. Sartwright, Canadian Minister of Finance and Trade, speaking at Toronto, said"lf Mr Chamberlain says he can tax food from all countries without increasing the price to the consumer he is wrong. Britain can force reciprocity on the United States or stimulate immigration and food production of countries outside the United States, or pave the way for a trade alliance of the English-speak-ing people. He believed the United States was willing to enter into reciprocal trade relations, giving the

Anglo-Saxon race control of three and a-half continents. If England f taxed food imports the tax would hit the American iarmer too hard ,■ (affecting his position by 30 pei' cent) that he would renounce protection and the result would be an alliance to the advantage of Britain, America, and Canada. LONDON, Dec. 13. Mr James Ribon, apropos the alleged decline in the iron trade, declares that within 40 years his firm's wages increased from 28/3 per week of 60 hours to 37/9 of 53 bours. .Our pig iron production for the first half of the present, year was nearly a record, while the United States production is decreasing.