The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1903-09-24
BALFOUR AND FREE TRADE.

Premier Balfour of England has
issued pamphlet entitled 'Insular
Free Trade in which he argues for
change in the final policy of Great
Britain In itself the document, or
such parts of it as have been cabled
to this country, gives light on what
the prime minister's policy will be,
but its purpose appears to be to pre-
pare the people for speech which
Mr.. Balfour is to make at Sheffield on
October1. The title of the pamphlet
is significant of the line OF reform
proposed by Mr.. Balfour, and after
approaching the subject from the
standpoint of free trader, he says:
I am 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 &C.
copied without hesitation and without
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's persistence in retaining a
fiscal policy made for free trade
country in world of free traders,
not for free trade country in
world Of protectionists, the rate of
her export trade has not increased,
and in fact has seriously dimin-
isbed Compared with past years
some departments show no increase,
while others show symptoms of decay.
Mr.. Balfour asserts that there is no
reason to expect an Improvement, but
meanwhile Germany, America,
France, Russia, and even Great Brit
ian's governing colonies continue
to build up protected interest with
in their borders. The mistakes made
by the free traders half century ago
have left Great Britain bearing all
the burdens and enjoying only half
the advantages which should attach
to the empire, he continues. then pro-
ceeding to devote considerable space
to the effect of protection upon COM
binations in countries where protec-
tiou exists, This he points out, is
TO the disadvantage OF the British
manufacturer, unable as he is to COM
pete with the manufacturer who is
able to sell abroad at lower price
than he charges for the same article
at home. He gives an instance of
German steel in this particular, say
ing that it is selling cheaper in Eng
land than the English manufacturer
possibly can produce it,
Mr.. Balfour declares that the
optimists who advocate continuance
of the free trade policy in place of
the injury worked by protection on
Great Britain interests are foolish,
and their arguments little short of
reckless The ruly possible hopo Of
a mitigation of the evil is through
negotiation, which, he says, can appeal
only to self-interest in foreign pro-
tected countries and in the case of the
colonies to self-inteyest coupled with
sentiment. He concludes:
We're proved to the wrong my
opinion on the fundamental question
would remain unchanged. Where we
fail Others may succeed 1t cannot be
right for a country with free trade
ideals to enter into competition with
protectionist rivals, self-deprived of
the only instrument whereby their
policy conceivably can be modified.
The most essential object of our ma
tional efforts should be to get rid of
the bonds in which we have gratui-
tously entangled ourselves. The pre-
else manner in which we should use
our regained liberty is important;
yet, after all, only a secondary
issue.