New-York tribune., 1894-06-25
THE NEW FINANCE.
NOT DEMOCRATIC BUT sOCIALIsTIC-uor.
1T is LIKELY TO AFFECT ENGLISH
LIFE-THE DUKE OF DEVON.
SHIRES VIEW.

Slowly but surely the true nature Of the ena,o,,
revolution which Sir William Harcourt's Ruaoa.
will bring about is becoming clear: or II M,
clear, clearer. When his opponents accented NJ.
friends description Of 1t as Democratic tho,
showed the usual English slowness OF anna
henson m presence OF situation M
doubt there is a sense in which 1t is Democrau,
but II is much more Soclastic than Democratic
The two words are in danger Of being confused
At the pace things going in this country the
confusion Is perhaps rather In the thing than IN
the name Socialism in one form or another has
done its best TO seize upon the movement which
is or once was. essentially Democratic. That IA
but one more illustration Of the old truth that
in all controversies 1t IS the extremists who come
70 the front and take the lead The word Democ.
racy is undergoing a process OF perverson and
will pres, nty signify In England something very
different from that which it signifies In America
Sir William Harcourt's new schemes Of taxa.
ton have. in reality, nothing to do with Democ-
racv Let VA keep to the true definition
Democracy may be, Sir Henry Maine says
only a name for a form OF government, but Il
does at least mean the rule Of the whole people
Soclaliytic Democracy means the rule Of part Of
the people; the rule Of classes for the benefit Of
classes; and not OF the community. The rule 10
AS a whole the Budget may be described as a
scheme OF taxation by which the wealthy and
the toerably we'll off are to be made to pay more
than their share in order that the wage-earning
classes may pay less than their share. That 10
not Democracy. II Is the negation OF Democ-
racy. and the nesation Of Democracy is rank
Socialism.
This IS country in which a policy Of expert
mcnt must have far-reachlng consequences. The
observation is trite. and perhaps for that reason
in constant danger Of being forgotten. II does
no harm To remind ones self from time 10 time Of
familiar truths. Tho geometrician never gets
far avav from the axoms on which his science
IS built II he does. things happen. But az
geometry is an exact science, and perhaps the
only exact science errors are soon detected. In
politics. which is the least Of all sciences. o.
rather not a science at ALL but purely empir-
cal process errors reveal themselves at very
late stage; often not till they are irremediabe
That does not prevent the politician from being
the most confident Of men, and, with tho eXcep-
ton OF the theol0gian, the most dogmatc The
posltiveness Of his assertions is in inverse ratio
- the extent Of his knowledge When he pre-
diets. he becomes more confident still. knowing
that nobody can contradict him. X is his nature
70 live from hand to mouth. The greatest poll
strlctly-Mr Gladstone expressly discouraged the
taking Of large views. ~ thought for the fu-
ture He found the burden OF immediate re-
sponsbties sufficiently heavy, and chose for his
motto: Sufficient unto the day is the evil
thereof: and also the good.
His successor as fnancier to the Liberal party
has adopted and bettered his late chiefs in,
structons II this We're a psychological essay,
which it Is not, should like nothing better than
10 explore the mental and spiritual influences or
qualities which have made the present Chancellor
Of the EXchequer what he is and have therefore
brought about the new revolution in finance
upon which he has so joyfuly entered. But let
us keep 10 the facts. Here Is very eminent
politician with a very energetic mind which ne
applies with equal facility and force 70 an I'M
nense variety of the most diverse subjects. Poll
tics law diplomacy. administration, debate. lead
Ing the House OF Commons. writing letters to
The Times" opposing Home Rule. supporting
Home Rule,-nothing comes amiss 10 him. Now
IL "a finance He masters that as he mastered
each Of the other subjects with which In turn ne
occupied himself Each Of them he treated as
subject Of to-day. with no tomorrow. The NOR
row does not exist for him. and the suggestion
that there might be a day after tomorrow he
would moet with scorn; and would regard an
alusion TO the Day of Judgment a personal
insult. as perhaps il would be Shorslghtedness
IS one basis Of optimism; not think. the best
II the shortsghtedness is due. not 10 defect OF
vision but 10 a wilful closing OF the eyes, that
| hardly helps the matter.
STR William Harcourt sees before him deficit
Of three or four millions. His business IS 10 find
| the money clear 1t. He might like do not
| know whether he would or MOTTO go down to
the Bank Of England with an escort Of the police
| who used 10 defend him against dynamlters
| when he was Home Secretary, and take the
| money he needs and bring Il back 70 Whitehall.
| and so end the matter. Such course wouio
| simplify his financial perpexities but might no'
| relieve him from the political embarrassmens
| attendant on them Being, like his predecessor
| before all things a politician. he never forge"
that though the money must be found, 1t must
| be found In such way will not only put las
| greatest number OF pounds sterling into the ca
| pacious pockets OF the Chancellor Of the TX
chequer, but the greatest number OF votes mo
| the party ballot-boxes These are the only Two
| factors he recognizes in the problem; the oh4y
| limitations upon his financial imagination.
II happens In this case that his financial ana
political necessities work together. Two forcsA
| sometimes hostile, moving In the same u-
rection: and moving with tremendous velocity
| He avalls himself Of both. He gets botn tne
money and the votes. He takes the money from
| the rich, who have few votes. and he gives II 70
| the poor, who give him votes in return
| His teacher and master In finance IS Ar
| Alderman Ben Tillett OF the London county
| Council, whom am never tired OF quoting. ne
IS the Adam Smith of modern Socialism anu
| the financial Gamaliel from whom the present
| Chancellor of the Exchequer has learned h''
| lesson Mr.. Ben Tillett laid down the maxifh-
he propounded It like true political geome's''
as an axiom-that the poor ought TO levy NV
taxes and the rich pay them. Sir Wlllam mar
court has built his Budget on that foundauoh
| The Progressive Alderman announced the p'iH'
| cple II is the greater glory Of Sir WilaAi "