One hundred years ago
During the week, Russia and Germany have become engaged in the fiercest tar- iff war recorded in history. Russia began by placing on German goods an aug- mentation of 30 per cent. on the maxi- mum duties levied under her tariff. The German Federal Council replied by the imposition of an extra 50 per cent.; and the Russian Minister of Finance on Wednesday "countered" this by increas- ing the Russian duties on German goods by yet another 50 per cent. This is a game in which the Russians have, from a Protectionist point of view, a considerable advantage. The Czar has given his Finance Minister carte blanche in the matter of raising the tariff dues; but the German Constitution allows no further increase (without the consent of Parliament) beyond the 50 per cent. already imposed. The evil effects that will be produced on both Empires are, of course, very great; and it is hoped that in October, when negotiations for a treaty are to be resumed, the diploma- tists, and the merchants who egg them on, will come to their senses. Let us trust that the incident will shake Lord Salisbury's belief in the advantages to be gained by having something in the shape of a tariff to bargain with. Such bargain- ing is only too likely to end in 50 per cent. augmentations.
The Spectator 5 August 1893
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