31 JULY 1909, Page 3

On Tuesday Mr. Balfour addressed a large and enthusiastic meeting

of his constituents in the City. The Government were relying even now upon a very narrow margin of battle strength in the Navy. He could not believe that the country recognised the danger, and would accept such a risk if its gravity were understood. The Budget professed to be merely a Finance Bill, but it was also a Valuation Bill. Tariff Reform, he concluded, had become inevitable ; let Mr. Asquith test the feeling of the country at a General Election on the issue of Free-trade and Tariff Reform.