The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-10-03
FOR FISCAL REFORM.
BaIfour, the Premier, DcIiy-
ers an Address.
The Development Of the Trust System Under
Prott c,ion threatening engand's
Welfare.
CBy the Associated Press.)

London. Oct. addressing a mass
meeting at Sheffield tonight in connec-
ton with the conference of the national
union of conservative associations, Pre-
mier Balfour delivered the speech which
has been long heralded as the first heavy
gun to be fired in the fiscal reform cam
paign which Is absorbing the attention OF
the United Kingdom, her colonies, and in
deed the whole world, and which has
caused the present British Cabinet crisis,
the result of which it is impossible to
foretell.
Mr.. Balfour in the course of his speech
did not even hint at the successors in the
Cabinet to Mr.. Chamberlain, Lord George
Hamilton and Mr. Richie. In fact he did
not mention the ministerial designations,
ignoring altogether that phase of the sit
uation on which it was cx pected he would
make some declaration The Premier con-
fined himself strictly to the tariff question
and his speech was to a large extent a
repetition of the arguments contained in
his recent pamphlet
Premier Balfour was greeted with re-
peated rounds of cheers. He spoke of the
prominence the fiscal question had
gained and attributed it to the closer
touch with the colonies, gained as a result
of the late war He pointed out Great
Britain's helplessness under present con-
dtions to meet foreign retaliation, and
said the fiscal relations with the colonies
were inconsistent with free trade princi-
pies. Mr.. Balfour continued:
Free trade is indeed an empty name
and vain farce if it is a fact that for
eign nations are setting themselves to di-
vert our industries, exclude our manufac
lures and limit the international play of
supply and demand. There has been de-
velopment of which Golden and his con-
temporaries never dreamed--the develop
ment of The trust system, under protec-
ton. The phenomenon is so new that
dare scarce venture to prophesy what de-
velopment it is likely to take, but you
may be absolutely sure that in the alliance
of trusts and tariffs, there is danger
to the capital and enterprise of this coun-
try, which acts and reacts, not mainly
upon the capitalists for he is at liberty
to go to these regions, where his industry
will be looked after, but it will fall with
its heaviest weight upon the artisan and
labor classes which are not capable of
protecting their interests against such
calamity.
Now, if 1 have rightly described the
dangers and evils we suffer you are en-
titled to ask me whether / know of cure.
My answer will be disappointing. l know
of no cure, but I know palliation. The
i'll has gone too far. You will not get the
great commercial nations of the world to
abandon protection. l fear that you will
not get the great self-governing colonies
to retrace the steps we without remon
STRANGE permitted them to take. 1 am
here therefore, to recommend palliation
which believe to be still possible. Cob
den hoped for and believed in free trade
throughout the world What in fact we
have got to deal with is a world where in
ternational commercial relations are regu-
lated entirely by treaty. Is it common
sense that we, the greatest commercial ma
tion should come forward and say: We
want to arrange treaties with you, but
we have nothing to give you, nothing to
withheld from you. We throw ourselves
upon your merchants consideration. Please
remember how good we are to your com
merce, how we throw no impedment in
its way and how we do all we can for you
and please don't forget us when you are
making your next treaty (Laughter)
my fundamental and essential request
to you today to which the rest of my
speech Is subsidiary and accidental is that
the people of this country should give to
its government that freedom of negotia-
tions of which we have been deprived, not
by force of circumstances, or by the pres
sure of foreign powers, but by something
can only describe as our own pedantry
and self-conceit.''
The speaker believed that the evils of
the taxation of food had been exaggerated
beyond what reason and logic justified
Still he thought that public opinion was
not yet ripe for the taxation of food
Therefore, as an advisor of a great party
he was bound to tell them plainly that il
was outside the limits of practical poll
tics. He was not anticipating a general
tariff war, but he thought we might in
form anv foreign country that we thought
was treating us with outrageous unfair
ness that unless they modified their pol
icy we should take certain steps with re-
gard to certain articles exported by
them!
1.-THE second question is, DO you desire
to reverse and alter the fundamental fisca
tradition which has prevailed for two gen
erations. My answer is, Yes l do .
Ct 0ud cheers