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Thus, the Conservative Party has certainly been on the whole

successful in its efforts to preserve unimpaired its unity before the country. This comparatively fortunate result has, undoubtedly, been furthered by the tone of Mr. Baldwin's Election Address. That this document is often an ambiguous one it would be idle to deny. Its essential paragraph is that which is headed " Objects of Tariffs." These are enumerated as follows :----- (1) To raise revenue.

(2) To. assist industries which arc suffering under unfair foreign competition.

(3) To utilize the duties imposed to negotiate for a - reduction of foreign tariffs.

(4) To give substantial Empire preferences.

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