Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1903-09-16
INSULAR FREE TRADE
Balfour Argues in Favor of a
Change in Great Britain's
Fiscal Policy.
DETRlMEST TO MANUFACTURERS

not Compete With Protectionist
Rivais-Expsrt Trade Seriously ri.
minished,
London. Sept. 16-Premier Balfour
issued the advance sheets of a pam,
phlet on the subject of ''lnsular Free
Trade. in which he presents at length
arguments in favor of change in
Great Britain's fiscal policy. Mr. Bat
four says he approaches the subject
from the standpoint OF a free trader
as far as contemporary circumstances
will permit He continues:
II am a free trader, but not of the
pattern which holds that the doctrines
of free trade is so universal III Its ap'
plieation and SO capable of an exact
expression that every conclusion to
which it logically leads must be ac-
cepted without hesitation and reserve.
The arguments presented through
out the pamphlet vary little from those
already enunciated, but the premier
points out that as a result of England'c
policy Of retaining fiscal policy made
for a free trade country in world OF
free traders-not for free trade eoun-
try in world of protectionists-the
rate of her export trade has not in.
creased and in fact has seriously d.
minished Compared with past years
some departments show no increase,
viii Tf1, CHI ~ nf ia
cay. The premier asserts that there
is no reason to expect an improve
ment. Meanwhile Germany, America,
France, Russia and even Great Brit
aims self-governing colonies continue
To build up a protected interest within
their borders.
Mistakes Made Half Century Ago.
Mr.. Balfour says the mistakes made
by the free traders half a century ago
lave left Great Britain bearing all the
burdens and enjoying only half the al
yantages which should attach to the
empire He devotes considerable space
I t. the effect Of protection upon combin-
ations in countries in which protection
exists, This, the premier points out,
is to tho disadvantage of the British
manufacturer, who is unable to com
pete with the manufacturer who is
able to sell abroad at a lower prie9
than he charges for the same article
at home He gives an instance of Ger.
/ nan steel in this particular, saying
that II is selling cheaper in England
than the English manufacturer can
possibly produce it.
Mr. Balfour declares that the op-
timists who advocate a continuance
of the free trade policy in face OF the
injury worked by protection on Great
Eritains interests are foolish AMI
their arguments little short of reck.
less, The only possible hope OF miti-
cation of the evil is through negotia
ton. which, he says, can only appeal
tc seif-interest in foreign protected
countries and in the case OF the colo
MES to self-interest coupled with SEN
tlment Mr. Balfour concludes:
Were I proved to be wrong my
opinion on the fundamental question
would remain unchanged. Where we
fail others may succeed. 1t cannot be
right for country with free trade
ideals to enter into competition with
proteetionist rivals, selfdepriyed of
the only instrument whereby theic
policy can coneeivably be modified
The most essential object of our na.
tonal efforts should be to get rid OF
the bonds in which we have gratuit-
ously entangled ourselves. The pre-
else manner in which we should use
our regained liberty is important, yet
after all, only secondary issue
Policy Favored by Cabinet.
The publication of the pamphlet i'm
mediately after the momentous cabi
net council indicates that it embodies
statement Of policy accepted or
rather acquiesced in by the majority
of the cabinet n this assumption "a
correct it means the abandonment OF
the idea of preferential tariff with
the colonies and the taxation Of food
IL favor of system OF retaliatory
duty Even this. however, is tentative.
Mr. Balfour in his speech Oct is ex-
pected to elaborate and explain his
case, and the entire cabinet will close
ly watch its reception by the conserv-
ative delegates.
In short, the great question of free
trade versus protection so far as the
cabinet is concerned is still undecided
What will be Colonial Secretary
Ghamberlain's attitude is the burning
question of the moment The most
striking feature of Mr. Balfor's pam.
phlet is that from the beginning T.,
the end it does not refer to Mr. Cham,
herlains proposals. There is not a
word about the threatened breaking
up of the empire or preferential tar
ifs. and the colonies are scarcely men
toned. On the contrary, the whole
line Of Mr.. Balfour's reasoning is OPP.
posed to tariffs for purely protection.
list purposes. Hence Mr.. Chamberlain
is faced with the alternative of either
abandoning preferential tariffs or pros
ocuting his campaign unsupported by
Mr. Balfour.
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Bad Fire Near Baltimore