16 FEBRUARY 1907, Page 2

We are, of course, thankful for the small mercy of

delay ; but the proposal to introduce the virus of pauperisation by degrees does not impose upon us, or make us in the least less hostile to this ill-starred scheme. Once introduce a system of State. paid old-age pensions, and it will be impossible to stop till we are faced with the need of providing some £25,000,000 a year. But to make such an addition to our annual taxation is im- possible without. having recourse to a general tariff, and a general tariff means Protection. Whether they intend it or not, the Liberals, if they grant old-age pensions, will betray the cause of Free-trade.