4 MARCH 1916, Page 2

Every day that the Chancellor of the Exchequer delays the

imposition of the needful taxes is a dead loss. As our readers know, wo believe the time has come, nay, is overdue, for the imposition of a general tariff. And here we desire to point out that when we wrote of a general tariff, and suggested 10 per cent. ad valorem, we did not mean to be tied to that figure, but merely used it as a round number and by way of illustration. Further consideration has made us come to the conclusion that 6 per cent. ad valorem would be the best figure. The essential thing is that the impost should, like a harbour due, be imposed upon every- thing that enters the country—i.e., without differentiation of any sort or kind.