New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-12-31
No System of Finance or Social
Reform Can Get Fair Trial
on Its Own Merits.
TO KILL INSURANCE PLAN
Lloyd George Finance May
Prove a Failure-Tarif Re-
form Will Meet Hostil-
ity Quite as Bitter.
lBy Gable TO The Tribune. J

parChed lips mas dreduN tulHVu " "N'N
and he has lost prestige as almoner for
the poor.
He is a mercurial Weshman, facing
disappointment with a smile. Tie does
not know when he is beaten, and is now
turning his holiday TO practical account
by forming associations of practical re-
formers which will cooperate in accept
ing the principles IF the insurance act
and by minimizing public resistance to
it. A large body Of officials will be or
xanized and systematic efforts will be
made to explain the practical operation
Of this complex measure.
If there were no grounds for partisan
opposition the act might be saved during
the next six months, but every Unionist
politician wants TO have II become
dead letter for the sake of discrediting
Mr. Lloyd George and Radicalism. Doc
tors, employers, trade unions and ser ]
wants are making determined effort to
render it imperative, and the Tory press
is exaggeratng the waste of national re-
sources, the shrinkage in benefactions |
for hospitals and the burdens Of fresh /
levies Of taxation laid upon industries.
Costly and Unpopular System.
The Chancellor Of the EXchequer is
mainly responsible for this costly, inef-
fective and unpopular system of insur-
ancc. and he has sacrificed his reputa-
tion as a hnancier Of administrative |
capacity. Moreover, there is cumulative
10 BUDGET which !
was designed for bleeding the rich for
the benefit of the poor is likely TO cause
more suffering among the masses than
among the classes.
The new land taxes have given land
holders good excuse for selling their
surplus possessions and reinvesting their
money in foreign securities. The land
valuation f-r the purposes of this tax. so
far as it is completed, is VIGOROUSLY low,
but landlords having clever lawyers are
able 10 arrange leases and renewals so
that the increment duty will not fall
upon them, but upon the struggling ten
ants, cottagers and tradesmen.
The land taxes % far have not been
source Of revenue and it seems probable
that the pooDrather than the rich will
be despoiled if future increments are
turned into treasure. The titled classes
and wealthy landholders are learning,
with the help Of lawyers, TO evade the
supertaXes and other levies, and the
masses will lind the new heavens and
| the now earth as unfavorable as were
i the old conditions
The impaired influence of the Chancel-
Tor as fnancicr and practical rcformer
naturally strengthens the supremacy Of |
the Prime Minister. Mr.. Redmond and |
Mr.. Lloyd George between them had ar
ranged to clear the line for Home Rule |
by dispatching a heavily loaded social
reform train. The work has been done
and everybody in the country is dis
satisfied with the results.
No Enthusiasm for Home Rule.
There is no enthusiasm either for the
Insurance system or for Home Rule. and
the Prime Minister is now under an OBJ
legation 10 save q desperate situation by
concentrating the efforts of the Radicals
upon the now reform bill and dealing
with woman suffrage as a side issue.
The new year does not open well for |
Liberalism After the great triumph of
the passage Of the Parliament act, the |
coalition is faction rent and trade union /
Ism is rapidly becoming unmanageablc.
Cniouists are returning TO power in
consequence of the irresistible popular
reaction against policies Which have UNI
settled industrial interests and disturbed
the relations Of the classes and the !
masses They arc bringing with them
tariff reform as a substitute for Mr.. !
Lloyd Georges drastic method of flnan-
cling social reform, and that will also be !
an unsettling policy against which there !
may be q speedy revolt on the part Of
The masses under pressure of political |
agitation against the taxation Of food.
The country is so thoroughly saturated !
with partisanshp that it is impracticablc !
20 give any system OF finance or social !
reform a fair trial on its own merits.
Tho public passion for foreign securi- /
lies is not cooling The new year will |
bring generous returns in dividends and
money will inevitably he chcapencd, but
consols arc likely 10 fall and confidence
in home railways and industries will not
be renewed. Money goes abroad because
larger returns are promised in Canada.
Australia, Argentina, Brazil, Chill, Japan ,
end even in China. despite its present
disturbed state, than are possible at
bone.
Country Very Pros roUs.
The annual statistics Of exports and
imports offer proof Of the exceptional
prosperity Of the country. Lancashire
and Yorkshire have been highly favored
by the reduction in the cost OF raw ma
terial and the enlargement Of foreign
trade. but when every factory should be
in full operation and every worker en-
ployed there is a lockout Of So 600 opcr- !
atjves on the Fundamental question |
whether the masters shall be compelled |
30 hire unionist weavers and spinners !
and turn out every non-unionist worker. |
Disastrous struggles Of this kind are !
convincing timid investors that their !
money will be safer abroad than at home !
and that revenue officials will know less |
about II. Railway shares are considered |
unsafe. notwithstanding every fresh com
promise arranged by the Board Of Trade |
Consular returns for 1911 show that |
there have been no marked changes in |
British trade with America. Exports OF /
woollens and wOrsteds have remained !
STATIONARY, the Bradford district indicat-