8 AUGUST 1908, Page 2

Among notable speeches made by non-British Free-traders, we desire to

draw attention to that of Mr. Franklin Pierce, an American. In a striking history of the American tariff he showed how it was in origin a tariff for revenue, but how it had later been retained as a Protectionist instrument. Mr. Pierce is, however, a man of great tact, for he does not appear to have embarrassed his hosts by reminding them that the tariff was riveted on the backs of the American people by means of a pension scheme which began by an expenditure of some £9,000,000 or so, and ended by costing 230,000,000 a year. To have noted such a fact would have been too painful just now. Mr. Pierce went on to show how the tariff was the mother of Trusts.