On Thursday, at Cinderford, Mr. Asquith addressed a large gathering
of the electors of the Forest of Dean in a very powerful and convincing speech. He showed that the founda- tion-stone on which Mr. Chamberlain rears his fantastic pile of paradox and sophistry is utterly unsound. Mr. Chamber- lain's whole case falls to the ground if he cannot sustain his allegation that our commercial position is one of difficulty and dismay, and that, in his own phrase, our trade has been stagnating during the last thirty years. "During that period," to quote Mr. Asquith, "the amount assessed to the Income-tax has doubled; the interest upon our foreign investments has more than doubled ; the deposits in our savings-banks have multiplied two and three fold; the bankers' cheques cleared, taking the annual average, have risen in amount from 530 millions to over 800 millions sterling ; and last, but not least, the wages of the working classes have risen, measured not merely in terms of money, though there has been a considerable rise in our money wages, but much more measured in their real terms, in the terms of that which money can buy. As the Board of Trade has told us, 100s. buys as much as 140s. twenty years ago." We wish we could deal with the rest of Mr. Asquith's admirable speeCh, in which he literally tore to pieces Mr. Chamberlain's fantastic proposals. We must be content, however, with advising our readers to study the speech for themselves. It will amply repay the closest attention.
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