Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1903-10-21
DOWNFALL OF FREE TRADE.
EnSiand's Foremost ststesn-e. Re-
lieVc That Protection Mmst
BE Resorted To.

L -
! titled. Economic Notes on Insular Ere,
Trade" is substantially a confession
that a modified protective policy may b,
| necessity to the British empire as now
| situated. MIR. Balfour says he approaches
| the subject from the free trade point o!
view. but not precisely after the manner
OF Golden. His conviction is that con-
ditions require fiscal policy vary ing
with circumstances. and that the British
people have no right whatever to re-
gard any plan as perfect. merely because
II is simple. unartiticial. and. above all,
familiar" In Mr.. Balfour's opinion, re-
suits have driven his countrymen to ask
whether fiscal system suited to a free
trade natlcn in world of free traders
remains sa:ted In every detail TO a free
trade nat'on in world of projections
ists.' Hoe is an admission, says the st.
Louis Giobs-Democrat. that. in adopting
free trade, England expected other ma
tons to follow the example. and the
world wcn knows that English free trade
propagandists and agents have labored
hard TO persuade foreign countries to
adopt the doctrine. This crusade having
tailed. MI. Balfour. recognizes the need
OF shifting the point of view. The noun
tain will not go to Mahomet. so Mahomet
must take the alternative under consid-
Grafton.
Mr.. Balfour's argument Is plainly that
of nominal free trader who will Yield
more ground the moment British public
sentiment seems ready for It, He owns
that free trade may not save nation
from suffering more by the adoption OF a
protective policy by its neighbors than
do those neighbors themselves. nor even
from being worse off than II would have
been had II never pursued free trade
policy at ALL An intimate knowledge
OF British fiscal affairs and tendencies
mas led the prime minister TO doubt tho
expediency OF continued fight for free
trade, almoss -ingle-handed. against the
most of the earts He declares that the
British position would - still more un-
desirable were 1t not that foreign coun-
tries owe England great dea' of money.
and that areas remain that are DOT pro-
tected. or protected only in part. Only
these three causes. Bal!our asserts, lould
save free trade island from helpless
ness in which all that is produced co lid
be sold only at loss. In that case
capital either flies to happier regions or
is lost: labor either emigrates or sinkgto
savagery. and unless other help arrives
our (hypotheticaD island returns 10 the
state of nature from which 1t had SURELY
been better that II had never emerged"
Not bright picture, surely, from one
who says he is still free trader under
reservations. AS for the future. Balfoue
sees no satisfactory symptoms for Brit
ish interests, and he goes on to say: The
highly developed Industrial countries.
like Germany, America and France, give
no sign OF any wish to relax their pro-
tectionist system. The less developed
protectionist communities, liks Russia
and some of our own selGg9verning coll
onies, are busily occupied IN building up
protected interests within their borders
"a process which is doubtless costly to
them. but is not on that account the less
Injurious To US" Therefore. Balfour's
conclusioDis that england should resort
to protection far enough TO Induce an
equitable tariff disposition In other ma
lions. lie would do TO foreign countries
what they always do TO each other, and
instead of appealing TO economic theories
In which they wholly disbelicve. use fiscal
inducements which they thoroughly I'M
derstand." So the prime minister's free
trade. as he himself unveils il, is re-
taliatory protection. not free trade nor
anything resembling il in the theory or
practice There Is. in truth. little differ
ence between Balfour and Chamberlain.
Both are convinced from existing British
fiscal conditions and prospects that pro-
lection in some form must soon be re-
sorted to. and that the necessity will
present itself TO all cabinets alike.
DiscOrdnnt Iowa Democrats.
The democrats are not as united In