13 FEBRUARY 1932, Page 2

On Tuesday the vote on the Tariff was taken. The

Chancellor of the Exchequer had given a satisfactory account of the country's finance up to date (and the Board of Trade announced on Wednesday a fall of nearly £15 millions in the value of imports in January from the value of those of December last). The debate was a great success for Mr. Runeiman, and we are heartily glad to see how he is fulfilling the hopes that we formed when he was appointed to the Board of Trade, a Free Trader at the office which, with the Exchequer, must have the principal handling of our fiscal measures. He managed to speak lucidly while refusing to isolate the tariff from the financial difficulties of the world.

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