The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-16
.BALFOUR FOR :
PROTECTION
British Premier Issues a Pamphlet
Championing the Policy Adyo.
Gated by Chamberlain.
The Government Issues a Blue Book
Comparing British and For
eign Trade Statistics.

London. Sept 16.-Premier Balfour has
Issued the advance sheets of a pamphlet
on the subject of "Insular Free Trade"
In which he presents at length arguments
in favor Of a change in Great Britain's
fiscal policy. In introducing the pamph-
let, Mr.. Balfour says his purpose in is
suing 1t Is that it would be impossible
to put all the important points of this
question within the limits Of a single
speech, and therefore he says the pamph-
let may be fitting preliminary to the
speech which he will shortly make. This
undoubtedly refers to the speech Mr.. Bal
four will make at Sheffield, Oct. I.
Mr.. Balfour says he approaches the sub
ject from the standpoint of free trader
as far as contemporary circumstances
will permit. He continues:
II am free trader, but not of the pat
tern which holds that the doctrine of
free trade is so universal in it's applica-
ton and so capable Of an exact express
sion that every conclusion to which 1t
logically leads must be accepted without
hesitation and without reserve
The arguments presented turnout the
pamphlet vary little from those already
enunciated. but the premier points out
that as result of Englands policy of re-
tanning a fiscal policy made for a free
trade country in world Of free traders,
not for, q free trade country In world
of protectionists. the. rate Of her export
trade has not increased, and In fact. has
seriously diminished. y
81 The Government Blue Book.
On the heels OF Premier Balfour's aca-
demic exposition Of his personal views
of the fiscal problem came the long prom
ised and much demanded government sta
| tistics dealing with that subject. They
were Issued to-day by the board Of trade,
in the shape of blue book Of nearly fifty
pages of bewildering tables Of figures
showing the various aspects Of British
and foreign trade and the industrial con-
| dit1ons. No deductions were drawn, tho
the publication teens with interesting
notes upon what are regarded as points
of fact. The references to foreign trade
are chiefly confined to France, Germany
and the United States.
The Pail Mall Gazette says it under
stands the cabinet has concluded the con-
sideration of its fiscal position and its poll
| icy. In regard thereto; that no further
| cabinet meetings will be held for the pres
emit. probably not until late in autumn,
and that In the meanwhile Colonial Secre-
| tary Chamberlain will proceed with his
exposttory program, The paper adds:
Chamberlain Modifies Plan.
1T will probably be found that he has
modified his proposals SO as to bring them
In harmony with Mr.. Bahour's Views as
set forth In the pamphlet, The main fea
| ture of Mr.. Chamberlain's notifications
will be the disappearance Of all sugges-
| tons in the direction Of the further taxa
ton of foodstuffs and raw materials.
| Consideration Of the war commission
report is reserved for future meetings Of
| the cabinet"
The Pail Mall Gazette believes it is still
possible that there will be more than one
resignation from the cabinet.
One of the most important phases dealt
with in the blue book are imports and
exports The tables show that exports
from the United Kingdom to4the United
States declined from $145, 000, 900 In 1896
to $97,500,000 in 1902, while the imports
rose from s485, 100000 to $685., 900, 900. The
total exports to all foreign countries de.
clined in the same period 500, 100000 tho
when the colonies are included the de-
cline only amounts to $5.000,0O0.
The proportion of the United Kingdom
exports, as between protected and un
protected countries, in the markets o
the world has been reversed since 1850
Then 1t was Sc per cent to the protected
countries and A per cent to the others
In 1892 the proportion was AZ per cen
| to the protected countries and Sc per cen
to the others.
A valuable explanation is given of tn,
much quoted excess of imports over ex
ports, which has SO often been held to b,
a sign of British trade decline. The blu,
books says that whilef the excess .yearl.
averages about $500, 900, 900, the fncom,
received from foreign investments cal
|; culated at 12,500,o 900, added to the earn
ings Of the British merchant fleet engaged
In foreign trade, calculated at $450, 600. 90
lis probably more than sufficient to &C
count for the average excess of imports.
Such estimates have never before BEEF
included, hence the misleading characte
of the usual figures.
, Americans have made large investment
J in the United Kingdom Of recent years
and American repurchases Of railroad an
other securities are admitted to hav
affected the fiscal figures, but they ar
not likely to form serious factor
Much attention is devoted to the til
I plate industry and the effect of the Ding
ley and Mckinley tariffs. The figure
show that the total exports of tin 5fror
the United Kingdom has declined only
little over 81, 100000. since 1897, with
marked increase in the quantity pro
, duced and in the value of a number q
! mills since 1898.