June 15, 1903.]
&c., &c. They know that these explana- tions are utterly false that the wily Muscovite is merely engaged in trying to throw dust in their eyes but they do not feel prepared to provoke a great war by retorting that she is a liar and a fraud and knows she is, and so the game goes on. How far Bussia is to be permitted to proceed with her little game of showing that black is white it is difficult to say. The position of the allies is an awkward one. They find it almost impossible to draw a hard and fast line at which they can say to Russia- "Thus far and only so far shalt thou come," because the circumstances are peculiar and embarrassing. It might be easy for Russia to place them in the wrong, and the struggle that would be involved by forcing on the issue is so large and serious that they hesitate to incur the odium and responsi- bility for so deadly a conflict. At the same time it would seein that the limit of the forbearance of the allies has been well nigh reached, that though they may be prepared to make sacrifices there is a point beyond which they are not willing to go, and if that point be reached the fat will be in the fire
and the blaze in Far Eastern affairs near at hand. It is, however, to be hoped that all the resources of diplomiey will be exhausted before any appeal to the arbitrament of the sword is deculed upon. It is not a light thing in these days to incur the responsibilty of letting loose the dogs of
war,
FREE TRADE.
(Daily Press, 9th June.)
a
CHINA OVERLAND TRADE REPORT.
had before this gone out of office, but in resigning he had paid a high tribute of respect to Mr. COBDEN, to whose able con- duct the introduction of the Free Trade policy had been mainly due. We know the rest. Under the auspices of Free Trade the trade, and following the trade, the wealth of the country went on increasing by leaps and bounds. COBDEN, and not of him alone but of many It was the belief of Mr. other far-seeing men, that when the other great nations of the world saw the enormous advance being made by Eugland through her adoption of a Free Trade policy, they would one by one come in and worship at the new shirine, and peace, plenty and brotherly love would prevail amongst na- tions. The Powers were indeed willing to acknowledge that Free Trade was a very good thing indeed for England; one or two did indeed advance a little on believing it good for themselves, but in the way of most cases the old leaven was too strong; and Free Trade, good though it might be for England, was not good enough for them: More than this, carrying the argu- ment to the furthest limits it could stand, what was good for England must pari it began to be a new principle of faith that passu be bad for them. How, however, was the undoubted success of England's policy to be counteracted? The system of the old Protection had been tried and found wanting; it hampered their own trade indeed but it seemed to have little or no effect in checking Engla's progress. There was clearly but cus way to set about the task; and that was to seek by every meaus to Trade against herself. Seventy years ago turn England's Free Germany had been split up commercially into a number of petty states, each of whom carefully "protected its neighbour. That there was any trade "itself against between these incoherent particles was the wonder, rather than that it was as small as it proved. So thought a number of energetic meu, and under their influence the barriers to the internal trade of
How long a formula which once denoted thing of life can contrive to exist long after the original is dead, shrunk and shrivelled is curiously exemplified in the howl of indignation with which Mr. CHAMBERLAIN'S proposal to afford some reciprocal favour to the colonies has been received by the self- constituted leaders of the Liberal Party, When in 1846 Sir ROBERT PEEL announced in the House of Commons his conversion to the principles of Free Trade, of which at the time the late Mr. COBDEN was the apostle, Free Trade was a living entity, and had become under the altered conditions of the world a matter of life and death for Great Britain, The old system of protection which was once and forever given up had been one of isolation every community thought to "protect itself against every other by raising such fiscal barriers that the trade which they both desired, unable to bear its aggravated burdens, fiscal and otherwise, lay down by the wayside and gave up the ghost, or at best dragged on feeble existence uncomfortable to itself a d an encumbrance to the nation at large. Sir ROBERT PEEL'S first tentative proposals enable us to see what a real menace to the existence of the country had become these fiscal barriers to trade. In January of that year he proposed a reduction of the duty on imported wheat; the rate at which he sug- gested fixing it is audication of how impermeable were the barriers spoken of, Wheat was to pay a fixed duty on entrance of ten suillings per quarter-so long as the price in the market did not exceed forty- eight shilling, the quarter, but if the short- ness at home should be so serious as to raise the market value above, this a gradual reduction was to be made till it stood at fifty-three shillings Circumstances were, however, stronger than men, and in the fellowing year, all parties being now thoroughly convinced of the necessity of the
the coru
duties were finally removed,
421
private. It is the interference with the natural laws of supply and demand, not the method of their application that is here the danger to be guarded against. We might by the application of duties or other exactions have prevented the profitable growth and export of sugar from the West India Islands. So far as the islands are concerned the effect about by the continental ciston of granting would have been exactly the same as cime bounties on the production and export of heet sugar. against the laws of Free Trade, and both in Both are equally offences
the course of events must have to pay a penalty more or less direct. Unable to see the essential part of the fiscal crime, the any attempt to set their principles right modern disciples of COBDEN would see in an outrage on an innocent country. The most extraordinary feature of this present were reversed these degenerate disciples squeamishness is, that if the circumst inces would be the first to make the welkin ring. Suppose, e.g., that the British Government a bounty to every bale of a particular were to announce its intention of granting quality of goods sent out of the country what would these disciples of COBDEN do? whole country would rise against the act. We need hardly suggest the answer, for the Suppose, however, the thing were actually done, and the Continental nations were reply by putting on a countervailing duty, seize with avidity the opportunity of ex- would not these same disciples of COBDEN pressing their approval of the measure, and 80 of discrediting their own Government? not saying that they would do science they would be more than justified, wrong; on all principles of sound financial Now the circumstances at the moment are not altogether different. Other Power's duties, lower freights, and the hundred an have been trying by the bribe of lower one other ways in which nations try to affect the course of trade, to raise up artificial inducements to lead trade out of its proper channels, and we under our nar row constrained views of the eternal prin-
Germany had been removed, to the no small advantage incidentally of British trade, though that of course formed no portion of the original plan. The hint was taken. The old Protection had failed because the constituents were too small; enlarge the elements and abolish for ever this bugbear of British Free Trade. Now if Germany, and the other countries that held with her that the growth of British trade constituted of itself a menace and a danger, had been content to work on these lines we should have, so far from bearing a grudge, wished them a hearty Godspeed. The benefits to be derived from Free Trade are not one-sided it benefits him who gives as well as him who receives, and the surest sign of a wholesome trade is that importer and exporter derive mutual and reciprocating advantages. Everything accordingly, the true Free-trader holds, that has a tendency to disorder the free current of trade has a distinctly deleterious effect. This is one of the essential principles of political economy which the apostles of the science never failed to impress, on their votaries. Now the homely proverb tells us that there are many other ways of killing a dog than banging him, and our Continental ill-wishers filing that the ordinary process of asphix- iating British trade resulted in failure, determined to try the other process of undermining its constitution by serving out unwholesome dainties. In other words the free flow of trade is to be hampered and the once celebrated “Anti-Corn-law by bounties, subsidies, drawbacks and League dissolved.com Sir ROBERT PEEL private arrangements of every sort, public or
case,
容量
We are
ciples of political economy, of which Free Trade is a distinguished corner-stone, find ourselves without any effectual means of restoring the natural flow. What are we and on the answer may depend much of our to do ? The matter is a momentous one,
in our hands to stand by while the enemy future prosperity. Are we with our armis
removes our dykes, and erects new barriers- to deflect the stream into his own preserves; or are we to stand on our own ground and refuse permission to the intruder to enter that is being raised by Mr. CHAMBERLAIN, on our territories? This is the question Is there any doubt on which side the lovers of the country, be they Free-traders or not, or rather because they are Free-traders of the manly and wholesome style of ADAM SMITH and COBDEN, will be found?
The Ioboufu correspondent of the N.-C. Daily News wrote at the end of last month Since the Chinese New Year your correspondent has travelled rather extensively in the southern part of Shantung and has once penetrated Kiangsu province as far as Shanghai. During these months be bas had constant occasion to observe the attitude of the people toward the by reviling and by kindred things. In Shan- foreigner, as shown by friendliness or its lack,
tang the opprobious name" foreign devil heard once, and friendly faces and friendly voices
WEB
reeted one everywhere. However, no sooner
had the line into Kiangsu been crossed than the attitude of the people changed decidedly, Cold were in constant evidence. Why this difference? looks, indifference, and unpleasant language.jp Geographical position alone will not account for it.