20 OCTOBER 1906, Page 3

Lord Lansdowne's references to the Fiscal controversy in his speech

at Nottingham on Friday week were guarded but significant. The. Fiscal question, he said, remained where it was left by Mr. Balfour's letter, which pledged them to use their best endeavours to strengthen the inter- national position of British commerce, to consolidate the loose fabric of the British Empire, au "to examine with

an open mind the possibility of using Tariff Reform as a means to those ends." He could not see for the life of him why the Bank Rate, 5 per cent., changed from 4 per cent. Oct. 11th.

most cautious of them should object to such a pledge. Consols (21,) were on Friday 86I—on Friday week 861. Reviewing the general situation, Lord Lansdowne said that as regards a constructive policy the Unionist Party must bide their time.