New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-16

Continued from first page

enter into competition with protectionist rivals.
self-depTived Of the only instrument WHEREBY
their policy conceivably be modified The
most essential object Of our national efforts
should be 10 get rid Of the bonds in which we
have grstuitously entangled ourselves. The pre-
else manner I'm which we should use our re-
gained liberty is important, yet, after ALL only
secondary issue.
on the zollverein question Mr.. Balfour says:
The most momentous. perhaps the most per-
rather on national than on economic grounds,
interstate tariffs were forbidden in the United
States
Neither does Mr.. Balfour admit that Great
Britain's trade is on the verge Of ruin. He
says:
Judged by all available tests. both the total
wealth and the diffused webeing of the
Try are greater than they have ever been We
are not only rich and prosperous in appear
4nce, but also. believe. in reality. / can find
no evidence that we are living on our capital
The Premier thinks that this is because pro-
tectionist tariffs less bad than they look
and protectionist countries and the British col
onies are still our most important customers"
he contends. however that in the future. as the
disadvantages that Great Britain suffers must
increase with the growth and spread of pro-
lection abroad and the absorption Of new mar
kets such China by powerful protectionist
States. Britain should strive for freedom TO
negotiate. so that freedom Of exchange may he
increased lie adds
The only alternative is to 90 to foreign nations
what they always do to each other. and instead
OF appealing TO economic theories, in which they
wholly disbelieve. to use fiscal Inducements
which they thoroughly understand.
Two illustrative tables are appended to the
pamphlet showing British exports to protected
and unprotected markets and the value Of Brit
ish exports since 1850. The pamphlet contains
sixty pages.
Mr. Balfour's pamphlet is reprint of notes
which he circulated among his colleagues in the
Cabinet in the early part Of August. and now
published. he explains. because he thinks they
might interest larger circle than that fer
which they were originally written. The publ
cation Of the pamphlet Immediately after the
u1omentous Cabinet council held yesterday ard
to-day indicates that it embodies statement
Of policy accepted. or. rather. acquesced in. by
the majority OF the Cabinet. II this assump-
| ton is correct. il means the abandonment Of the
! idea Of a preferential tariff with The colonies
and the taxation Of food. in favor of system
! Of retalistory duties Even this. however. is
tentative Mr. Balfour in his speech on octo-
! Der l is expected 10 elaborate and explain his
case. and then the ca binet will closely watch
its reception by the Conservative delegates
In short. the great question Of free trade
versus protection, so far as the Cabinet is con-
oerned, is still undecided. What the Colonial
Secretsrys attitude will be is the burning CUES
ton Of the moment The most striking feature
/ Of Mr.. Balfour's pamphlet is that. from the be-
ginning 20 the end il does not refer to Mr.
Chamberlain's proposals. There is not word
/ about the threatened breaking UP of the empire
/ or preferential tariffs. and the colonies are
/ scarcely mentioned. On the contrary the whole
1 line Of Mr.. Balfour's reasoning is opposed TO
tariffs for purely protectonist purposes. Mr.
Chamberlain is faced with the alternative Of
either abandoning preferential tariffs or prose
/ cutting his campaign unsupported by Mr. Bal
| four.
| The papers universally praise Mr.. Balfours
pamphlet for the ability and lucdty with which
/ the arguments are presented and warm well
come is extended to it by organs which. though
in favor Of protectionist ideas, were opposed on
J the grounds Of political expediency TO Mr. Cham
! berlain's food taxation proposals The Liberal
papers however. IN their editorials strongly de-
nounce the booklet. because they contend that
it leaves Mr. Balfour on the protectionist side
without in any way settling the issue before the
country.
The Duke OF Devonshire had conference
| lasting two hours with Mr. Balfour at the
Premier's residence this evening. Mr.. wynd-
ham, Chief Secretary for Ireland: the Earl Of
Selborne and Gerald Bafour also called on the
| Premier. 1t is believed that within day two
the resignation Of the Chancellor Of the Ex-
chequer, Mr.. Richie and perhaps of the Duke
/ OF LeNOfSniTe VIII De announced. although
| nothing certain is known. and The Standard
| a Conservative organ, contends in its editorial
/ that there is no occasion whatever under the
/ existing understanding for any member Of the
! Cabinet to withdraw.
| According The Daily Mail" Mr.. Chamber
lain agrees. under the stress Of necessity, not TO
| press his programme. The paper says he prob
/ ably viii not admit that his schemes are aban-
| doned. but nevertheless, they can safely be
| garded by the public dead for the time
| being at least
| A circumstantisl statement is published at
| tributing to the Colonial Secretary the predic
/ ton Of a general election and the defeat Of the
| government in the spring. The Conservatives
! will be in opposition for six months, and then
/ he viii return 10 office with the country at his
/