The sun., 1904-08-28
SOME NEW hooks.
The Case Against MIR. Chamber'ains
PrOpOsai.


Among the contributions to the copious
litern.ure which has been called forth by
Mr.. Chamberlains advocacy OF prefer
entialtariff, few have deserved more serious
consideration than is challenged by two
books, both of which are published by
the Macmillans: The Return TO Protection,
by Prof. WILLIAM SMART, and Free Trade
by Lord AvRBURY. Before scanning the
long and impressive array OF arguments
here marshaled against the policy COM
mended to Great Britain by the ex-Secretary
for the Colonies, we should mark the points
of view from which the subject is consid-
cred In the volumes before ,is. Ihe author
of -The Return to Protection Is the Adam
Smith professor Of political economy in
the University of Glasgow He was free
trade manufacturer in Great Britain and
n protected manufacturer in the United
States long before he became teacher
He thus possesses notable advantage
over other occupants of chairs OF political
economy. In that he has had practical ac-
ouaintance with both fiscal systems. He
was one of the fourteen teachers OF political
economy who in August, 1908. signed a
manifesto for free trade; but unlike his
fellow signatories, he cannot be discredlted
as a "man of theory" knowing nothing at
first hand about business. His book Is
based on series of lectures delivered in
Glasgow and Edinburgh during February
and March of the current year. He was
led to produce them because he was con-
yinced that Mr.. Chamberlain's propagan-
ciism of preferential tariffs and Mr.. Balfour' s
advocacy of retaliation led back directly
and inevitably to the system discarded
in 1s48, and that any adequate discussion
of them must begin with some consideration
of the theory of international trade, and OF
the principles which underlie the rival
policies. What would be the gain or loss
to Great Britain economically and politi-
cally, of a return to protection; and what
would be the gain or loss, economically
and politically of the abandonment OF free
trade? Those are the questions that Prof.
Smart undertakes to answer In the book
before us.
or Lord Avebury's technical qualfca-
tions to discuss politico-economical ques-
tions it would be superfuous to speak. 1t
is well to bear in mind, however, that while
approaching from the free trade point OF
view the consideration of the fiscal prob
lens presented by Mr.. Chamberlain's and
Mr.. Balfours proposals., he is also Union
ist, and has every desire to support the
present Government. His new book, Free
Trade" represents an expansion and re-
vision of two chapters on Fiscal Policy
contained in volume previously pub
lished Since those chapters were written,
much has happened. Many speeches have
been made many articles have been written
and three short but very instructive Blue
Books have been issued in London. The
first sets forth reports from Great Britain 4
representatives at Berlin, Berne. Paris,
Rome and st. Petersburg on the three re-
cent tariff wars, in which the policy OF re.
taliation has been attempted with disas-
trous results, and which. in Lord Avebury's
opinion, ought to be lesson to other coun'
tries: the second propounds the views oi
the Government of India with reference to
preferential trade; while the third supplies
important information as to the bounties
and drawbacks given by foreign countries
Lord Avebury holds that these three Blue
Books, studied In conjunction with the
Board of Trade memorandum OF 1902, "On
the Comparative Statistics Of Population
Industry and Commerce. by Sir A. Bate
man, and the Memoranda, Statistical
Tables and Charts" prepared by the Boarc
OF Trade and issued in 1908, afford important
evidence in support OF the Free Trade
position.