13 FEBRUARY 1904, Page 2

The debate on Tuesday showed immediately how very little it

takes completely to satisfy Sir Michael Hicks Beach when fiscal policy is concerned, for Mr. Boner Law, speaking on behalf of the Government, made a speech which was quite as Pro- tectionist in tone as that of Mr. Gerald Balfour was Free-trade. Mr. Bonar Law, in the approved style of the Tariff Reform League, held up the Protective systems of Germany and the United States to our envy and admiration. "They encourage the export of manufactured articles, and discourage the export of raw materials ; and we alone of all countries in the world leave that entirely to chance." After referring to the enor- mously increased percentage of unemployed, he went on to deal with "dumping" in language worthy of his unofficial leader, and drew a terrible picture of the competition to which our manufacturers were exposed. "The fact was our manufac- tures were paralysed." He challenged any one to give a single instance in which " dumping " had begun and had stopped. In a word, Mr. Boner Law, even though he did not actually use the word "Protection," made a frankly Protectionist speech, and revived the spirits of the Chamberlainite Members, which had been considerably depressed by Mr. Gerald Balfour.