Lord Avebury contributed an admirable letter to the Times of
Monday in reply to an earlier letter of Professor Hewins on'Fiscal policy. We would especially call attention to his treatment of the argument that an increase in the prosperity of another nation is a positive disadvantage to us, and that we can only prosper at the expense of our neighbours. " We do not trade with the heavenly bodies—with the sun, moon, and stars—but with other countries. Consequently, if our com- merce increases, theirs must also." Lord Avebury goes on to show that parallels as to rate of increase with an immense and largely undeveloped country like the United States are quite illogical. Lastly, he denies that our exports are declining, or that foreign Protective countries are developing their foreign trade because of their Protection. On this point he quotes some apt words of Mr. Chamberlain in 1885:—" Believe me, if their hands were free, if they were wise, if they released trade altogether, they would be much more serious competitors than they are now." We could wish that all Fiscal discus- sions were conducted with the patience and fairness of that between Professor Hewins and Lord Avebury in the columns of the Times.
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