BRITAIN'S FISCAL POLICY.

Taranaki Daily News, Volume LII, Issue 39, 11 March 1909, Page 2

BRITAIN'S FISCAL POLICY.

I'TiICE-TKADE DKMO.NSTHATIOX IN LOXJXIN. I'ItEMUUCS TIIKXCIIAXT SI'KKCU. Keeeived 10. 0.3U p.m. London, March It). 'Lord Avebury presided tU a J''' l ''' Trade Union's demonstration hi Queen; Mall.

The ll'reniicv (Mr 11. 11. Asquith) movI'd, and Lord Balfour seconded, a resolution declaring that the maintenance of principles protecting free trade was vital to the unity of the Empire and the preservation of our industries and tin- well-being' of all classes. I Mr. Asquith contended that free trad" from the outset of the controversy

had been submitted to the country, mn as an abstract doctrine, but- as the best, | iiav, tlie only system, suited lo the actual condition of industrial exigencies and necessities of liritish trade, wlii.c protection, besides being injurious would be fatal to the country s lntcr-

Mr. -W|iiitli. diseasing the alleged displacement of capital, said In- uilinilliml that tin' volume of capital exported from Jtriliih. w..> nin.-li UirKi-r 11i.ni fr«.i» niiv other eountrv. but, he naked, was that, a representing British labor or service and returned chiotly in tin; form ol goo, i raw material. The total British eapital invested abroad was CM.nni). -'»«- invested in countries Iroin winch our only imports v , w, ' l ' , 1 ' . '.",'•' and raw material. Xor uail }]'» led to the .sterilisation ol British industries, for the amount of trade pro- ■ fits assessed for income tax in the <l< - • cade ending. )»»: increased '•>•> per cent., compared With air increase, ol S..i in tu> population during the same period. _ Itegiirdmg the proposal to tax loreijri manufactures, he remarked that,, except in times of dumping they coa-isted «nl>stantiallv either of raw material or articles Britain was unable to produce.. J. d in either case, they outfit to V , free; or I Lev .had represented articles i (,„■ the product!"" whereof foreign cotmtries either from superior natural adv,nta»es. or better training, enjoyed a . prepouderatim: advantage. Taxing them 1 U-..UUI. beside: lining the consumer remove front British manutaeturo.rs the ". „„lv incentive to improvement ol the „ processes of manufacture. Once tat ill reform started tlie tariff must be por- ;; pelually re-cast. The consumer during Ihe process would go to the wall: tlie ': manv would he saeriliccd to tlie few Free trade the. Premier proceeded, ; had developed the EmpirVs resources and: bv exclu.li-.ig from British politic" ~ the sinister and illegitimate pressure ot sellish forces, it maintained punt} a . of public life, which tariff reform threat...i to ieopardise. The predicted assault on free trade would, he declared, be re- % polled again as before, but the upholder* ,'. !,f free trade must emulate the r op Z ponents, and by: ceaseless zeal a-ul " I'ner.n- make the most of every occasion for argument, discussion and conversion.