Finally, the Chancellor of the Exchequer, true to his well-known
economic opinions, announced that the powers of the Land Valuation Department, which were taken away last year, will be restored. An inquiry is to be conducted as to the strength of the personnel and its capacity for any fresh work of valuation which may be imposed upon it. It had been thought that Mr. Snowden might abolish the McKenna Duties by gradual stages, but he has preferred to give the trades concerned three months' notice of their total abolition. This, of course, requires that the duties which were on the point of lapsing should be renewed till August 1st. The Cabinet, after their numerous discussions, have evidently come to the conclusion that they are such strong Free Traders that they accept all the implications of their creed. Mr. Snowden therefore declared that they would like to see all the Preferences to the Dominions reduced or abolished whenever expedient, but that the decisions of the Imperial Conference would be sub- mitted to a vote of the House of Commons. In our opinion the decisions ought to be ratified not on financial grounds, but as a graceful concession to the wishes of the Dominions. Let us admit that the concession would have to be paid for—still it would be worth while. The cost would be comparatively small and the Dominion representatives would not feel that their labours at the Imperial Conference had been in vain.
• * *
Previous page
