IMPERIAL POLITICS

Gisborne Times, Volume XXVII, Issue 2447, 11 March 1909, Page 5

IMPERIAL POLITICS

A FREE TRADE u uwiONSTRATION ASSERTIONS BY MR. ASQUITH. {Jy ited Pbess Association. Copyright (Received March 10, 9.30 p.m.) LONDON, March 10. Lord Avebury presided at the Free Trade Union’s demonstration in Queen’s Hall. Mr. Asquith moved, and Lord Balfour seconded, a resolution declaring that the maintenance of tho principles and practice of free trade was vital to the unity of tho Empire, the preservation of our indutrics,. and tho well-being of all classes. Mr. Asquith contended that free trade, from the outset of the controversy, had been submitted to the country not'as an abstract doctrine, but as the best, nay, the only system suited to the actual condition of the industrial exigencies and necessities of British trade, while protection, besides being injurious* would be fatal to the country’s interests. (Received March 10, 10.45 p.m.) Mr. Asquith, continuing,, discussed s the alleged displacement of capital. • Ho admitted that the volume of capital exported from Britain was much larger than from any other country, but was that a misfortune P It went in produce, representing British labor or service, and retunied chiefly in the form of good raw material. The total British capital invested abroad was 3000 millions. It was invested in countries from which our only imports were food and raw materials, nor had this led to the sterilisation of British industries, for the amount of trade profits, assessed for the income tax decade ending 1907 had increased 24 per cent, compared with an increase of 8.3 in population. Regarding the proposal tc tax foreign manufactures, he remar’ked that, except in times oi dumping, they were either substantially raw material •or articles we were unable to produce, and, in either case, ought to be free, or they represented articles for the production whereof foreign countries, either from superior, natural advantages or better training, enjoyed preponderating advantage. Taxing them would, besides, be fining the consumers, and would remove from our manufacturers the only incentive to improvement of processes of manufacture. Once tariff reform started it must be perpetually re-cast, and the consumer, during the process, would go to the wall, and the many would be sacrificed to the few. Free trade had developed the Empire’s resources, and, by excluding from British politics the sinister illegitimate pressure of selfish forces, it maintained the purity of public life. That was what tariff reform threatened to jeopardise. He predicted that the assault on free trade would be repelled again as before, but the upholders of free trade must emulate their opponents’ ceaseless zeal and enegry, and make the most of every occasion for argument, discussion and conversion.