16 JANUARY 1904, Page 2

We have analysed the correspondence between the Duke of Devonshire

and Mr. Chamberlain elsewhere, but must add here that the victory which many presage for Mr. Chamber- lain will, we think, prove unreal. He may obtain a majority vote of the Liberal Unionist Association and control of its " war chest," but neither will add to his strength in the country. The Association is dissolved as the representative of a party whether the Duke dissolves it or not, and war chests can be replenished easily when people are in earnest. On the other hand, Mr. Chamberlain is forcing on the coalition in which the Free-trade Unionists, if only by their weight of ability, will play much the part once played by the Peelites, and, strangely enough, in the same cause; and the ultimate verdict will rest neither with Associations, nor caucuses, nor " managers," but with the bulk of the people, who, though bewildered by fiscal talk, understand the broad issues well enough. As to the tone of the letters, the Times says the Duke is "pontifical," but does not add, as it should have done, that Mr. Chamberlain writes in the tone of the American " boss," who always makes a proposal as if he were remonstrating with an oppressor, and thinks that the vote of a majority is a perfect substitute both for law and Gospel.