A welcome dose of common sense about foreign tariffs was
administered by Sir William Beveridge, who spoke on the wireless on Thursday, December 4th, in reply to Lord Bcaverbrook. By an analysis of British unemploy- ment he showed that retaliation is as futile as it is dan- gerous. So far from a reduction of employment abroad helping British trade, the bulk of our unemployment is due to the inability of foreign countries to buy as much as before from British workshops. He also pointed out the solid basis of the British objection to taxing food. A food-tax is graduated the wrong way round " like an Income Tax of ten shillings on the first £500 and five shillings above that." That sort of thing is inconceivable in a democratic age, and, moreover, the Dominions, owing to their interest in high Protection for their indus- tries, cannot offer any sure or adequate compensating advantage. Lord Beaverbrook's revivalist campaign, he concluded, was well named a Crusade, because it belonged to a much earlier century.
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