Mr. Asquith's speech showed the very great mastery he has
obtained over the details of the fiscal question. Very con- vincing was his defence of factory legislation as increasing, not decreasing, the efficiency of the workmen, and so proving, not a hindrance, but a help to production.—We may add as an illustration that it is just as bad economy to underfeed, badly house, and overwork your workmen as it is to do the same things to your horses.—Our Free-trade system and our factory legislation, continued Mr. Asquith, are really the proper complements of one another. Excellent, too, was his reductio ad absurdum of the Protectionist argument put in the form of a catechism. " Since 1860 our imports, according to the Board of Trade Returns, have exceeded our exports by £4,000,000,000. How, then, have we escaped ruin P—By the mercy of Providence. And how are we to set ourselves right P—By waiting for the Report of the Tariff Commission."
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