The Savannah morning news., 1903-09-16
NEW FISCAL POLICY
BALFOUR SAWS ENGLAND SHOULD
HAVE A CHANGE.
NO CONFIRMED FREE TRADER.
SAYS HE SEES WHERE ALTERA-
TIONS WOULD BENEFIT.

brltASh Nablnet hOA0s n Meeting,
but No Definite Action Upon the
Fiscal Policy Was Reported.
SpeculatiOns Based Upon the
Statement of the Prenier-NIis-
takes of Old Free Traders SHOULD
he RectiHed.
London, Sept. 15.--In anticipation of
to-days cabinet meeting spectators
gathered early in Downing street,
evincing the suspense which prevails
in all quarters. and which has been
heightened, if anything, since yester-
day by the delay in the announcement
of the fiscal decision, which is so eager
ly awaited.
The cabinet met at 3 o'clock this aft
ernoon and the sitting ended at 4:S0.
Colonial Secretary Chamberlain enter
ed the foreign office by a passage from
the colonial office and consequently was
not seen by the public, which to-day
made no demonstrations.
Nothing definite has so far developed
regarding the result of the cabinet
meeting, The ministers are leaving
town, and it is presumed that no more
meetings will be held in the immediate
future. The published statements
both deny and aver that the fiscal
question was discussed to-day.
Statement from the Premier.
Premier Balfour issued tonight the
advance sheets of a pamphlet on the
subject of "insular free trade" in
which he presents at length arguments
IN, e oh. 90 1..gk .s.,s-,
fiscal policy.
Mr.. Balfour says he approaches the
subject from the standpoint of free
trader as far as contemporary cir
cumstances will permit. He continues:
Il am a free trader, but not of the
pattern which holds that the doctrine
of free trade is so universal In its APP
plication and so capable of an exact
expression that every conclusion to
which it logically leads must be ac-
cepted without hesitation and with
out reserve
The Premier points out that as a
result of Englands policy of retaining
fiscal policy made for free trade
country in a world of free traders. not
for a free trade country in a world of
protectionists, the rate of her export
trade has not increased. and, in fact
has seriously diminished.
France, Russia and even Great Brit
aims self-governing colonies continue
to build up protected interest with
in their borders.
Bears All the Burdens.
Mr. Balfour says the mistakes made
by the free traders half a century ago
have left Great Britain bearing all
the burdens, and enjoying only half
the advantages which should attach
to the empire. He devotes consider
able space tor the effect of protection
upon combinations in countries in
which protection exists This, the Pre-
mier points out, is to the ,dlsadvan-
tage of the British manufacturer, who
is unable to- compete with the Ameri-
can manufacturer, who is able to sell
abroad at a lower price than he charges
for the same article at home.
Mr.. Balfour declares that the OPP
timists who advocate Continuance OF
the free trade policy. in face Of the
injury worker by protection on Great
Britains interests are foolish and their
arguments are little short Of reckless.
The only possible hope of a mitigation
of the evil is through negotiation,
which, he says, can only appeal to self
interest in foreign protected countries,
and in the case of the colonies. to self
interest coupled with sentiment.
Is 1t Endorsed by Majority:
The publication of the pamphlet i'm
mediately after the momefltous cabi-
net council held yesterday and to-day
indicates that it embodies a state
ment of policy accepted, or rather ac-
quiesced in, by the majority of the
cabinet. If this assumption is correct,
it means the abandonment of the idea
of a preferential tariff with the colonies
and the taxation of food, in favor of a
system of retaliatory duties.
In short, the great question of free
trade versus protection, so far as the
cabinet is concerned, is still undecid-
ed. What will be Colonial Secretary
Chamberlains attitude is the burning
question of the moment. The most
striking feature of Mr.. Balfour's PAM
phlet is that from the beginning TO the
end. it does not refer to Mr.. Chamber
lain's proposals.
1t is believed that within a day or
two the resignation Of the chancellor
of the exchequer Mr. Richie. and
perhaps the Duke of Devonshire, will
be announced, although nothing GER
tain is known.
According to the Daily Mail Mr..
Chamberlain agrees under the stress
of necessity not to press his pro-
gramme The paper says he probably
does not admit that his schemes are
abandoned but nevertheless they can
safely be regarded by the public as
load for the time being AZ leo AZ