THE FISCAL ISSUE.

Taranaki Daily News, Volume XLVII, Issue 7712, 14 January 1905, Page 3

THE FISCAL ISSUE.

SPEECH BY MR. CHAMBERLAIN, " Tie Opportunity of a Generation." LONDON, Jan. 12. Mr Chamberlain, addressing an audience of five thousand at Preston, reminded the Right Hon. 11. H. Asquith that the test, of a nation's prosperity rested on comparative, not positive, statistics. Sir Henry Campbell-Bunncrman had quoted thirteen millions of people as being on the verge of hunger in a rich and prosperous country, but he never quoted the fact that three million three hundred thousand since 1900 had suffered reduction in wages, and that the reduction amounted to 12J millions jier annum. The year 1904 was a record year, bul if exports had increased unemployment, pauperism and crime had also increased. The increase of exports was due to the ••bearing" of raw material, especially cotton, consequently the exports of cotton manufactures had risen in value and risen in volume, although operatives had not benefitted. While Lancashire, in a short time, as compared with protected countries, used more cotton, statistics showed that since 1876 Britain's consumption of the world's cotton supply decreased from 41 to 25J per cent., and also that there had been less employment. Our proportion of the world's trade was rapidly diminishing ; the protected foreign competitor threatened our hold on. the neutral markets. Replying to a question, he said he would in no circumstances tax raw cotton. He desired to reduce the sugar duty, and put the burden on articles of luxury. He advocated reasonable preference and reciprocity with the colonics. Replying to the Free Fooders' attack on the colonies, he said : "In the opinion of the colonies and in mine they have more to give than we have to offer them. If you consider the matter of your interests alone, and refuse to discuss wfch the colonies a matter so predominant, and of such interest to yourselves, it would he imbecility." He had no doubt the country was too sensible and too patriotic to lose the greatest opportunity of the generation towards commercial union and the ultimate organisation- of the Empire. A resolution in favour of reconsideration of the fiscal policy, and of a conference, was carried with enthuriasm, and few dissentients.

Mr Chamberlain, referring to the mover's (Mr W. Tomlinson's) remark that the resolution did not commit the meeting wholly to his policy, said : "I do not think that the resolution commits you to Mr Balfour's policy. I do not believe he will call a conference unless you intend to pay great and favourable attention to its decisions, and I am convinced that the colonies will then propose some scheme for the mutual protection and development of interImperial trade." THE PRIME MINISTER'S IDEAL. FUTURE OF THE COLONIAL IMPERIAL UNITS. (Received Jan. 14, 0.5 a.m.) LONDON, J a n. 13. In the course of his speech at the Scottish Unionist Ibanquct al Glasgow, Mr Balfour, referring to fiscal matters, said he bad nothing to add)to or, -withdraw from his Edinburgh speech. He recommended his Countrymen to avail themselves of every opportunity to produce a closer union with the colonies, and he hoped that colonial conferences would become as essential ki part of the working machinery of the Empire as the House of Commons. Every effort would be made by the Government in that direction, to forward the movfcment whatever might be the issue. He would rather fail with those holding a great ideal than succeed with the purblind, nar-row-minded, and unimaginative ones who were never capable of gazing beyond their parish confines and were incapable of picturing a future when the colonies, in their plenitude of strength, would foe bound to the Erapiro by organic tics.