31 DECEMBER 1904, Page 14

SIR, — Mr. Chamberlain in a celebrated speech proved to the satisfaction

of his hearers that a tax on food was no burden on the consumer,—that the Free-trade and Protection loaf were practically the same. The new war taxes have provided foreign residents in Japan with a striking object-lesson, and shown the utter absurdity of certain popular theories. One instance will suffice. Following a tax on flour of 10 sen a bag (say 5 per cent.), the bakers put up the price of bread 2 sen a pound,—an increase of 25 per cent. !—I am, Sir, &c., Yokohama. J. C. CARTWRIGHT.