The controversy between Mr. Goschen and Sir William Harcourt (who
continues to fire at the Chancellor of the Exchequer through " my dear Fuller") has gone on during the week, without being brought to any definite issue, except as to the increase of thennfunded debt. Sir William Harcourt main- tains that that is increasing, and Mr. Goschen, who of course knows the facts, assures us that though the floating debt was at its highest on April 5th, 1890, when it reached £36,729,305,. it has been greatly reduced since that point was passed, now eighteen months ago, as he showed in his last Budget speech.. It is now £2,000,000 less than it was eighteen months ago. Mr. Goschen also shows that Treasury bills, instead of paying sometimes over 3 per cent., and never less than between 2.1 per cent. and 3 per cent., are now paying only £2 8a. per cent., and for the last four years have averaged only £211s. per cent. ; and Sir. William Harcourt himself admits that the ultimate reduc- tion of the National Debt by £100,000,000 is a far greater boon to the country than any pledgee given for future ex- penditure can in any way be supposed to neutralise. Sir William Harcourt, if he criticised Mr. Childers on the same principles on which be criticises Mr. Goschen, would find him- self in very uncomfortable relations with his own colleagues. But what was virtuous finance in Mr. Childers, is vicious -finance in Mr. Goschen.
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