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PREFERENTIAL TRADE. moderate tax on foreign foodstuffs imported into this country, with a preference in favour of the Colonies. That makes a present to his opponents of the splendid election cry, 'The dear loaf.' To those who suspect Mr. Chamberlain of ulterior motives of some kind or other in having raised this question, I reply no statesman would make his opponents a present of such a splendid election cry unless he was prepared to hazard his own political position for what he believed to be the true policy in the best interests of his country. There is no one who has been in the past a more vigorous opponent of Mr. Chamberlain than I have been, but I would like to give him the credit due to him for the courageous position he has taken up on this question. Mr. Chamberlain has gone into no details, he has submitted no plan, but is wisely awaiting the results of the inquiry and discussion which is now so vigorously proceeding in various parts of the country.

I will venture to make three suggestions or observations as to what I believe the character of the duties imposed should be. The tax on foodstuffs must not be confined to corn. If only corn is taxed, you will only benefit one class of British farmer, and you will not give any preference worth having to the Australian or New Zealander. As in the corn duty now abolished, the tax on flour should be higher than the tax on corn, otherwise you will not restore the milling business to this country, and you will not have a supply of cheap offal. Thirdly, the agricultural produce of the Colonies should not be admitted free, as has been so frequently assumed in the course of this discussion. All agricultural produce should be taxed, with a preference in favour of those Colonies who give a preference to the 153