24 FEBRUARY 1917, Page 2

To many opponents of Tariff It s eform the adoption of these

Resolutions may at first sight appear as- a- complete surrender of the Free Trade position. As a- matter of fact, however, they are' but the logical- consequences of admissions which we maintaine must in the altered circumstances be made even by those who,-: like ourselves; still hold the scientific economic opinion that if the, object is the- attainment of the maximum of wealth for a nation, the fewer the impedimenta- between exchanges of all sortsa! national or international, the better. What makes us, and . what, we are confident, Will make a great many other Free Traders,' assent ex. anima to the. Resolutions of Lord Balfour of Burleigh'a Committee is the belief, once apparently an abstraction but now a;1 very grim reality; that the " State of Siege" argument must haver preference over the " Wealth of Nations," or indeed over any i and every other, argument.