When the debate was resumed on Tuesday, Mr. Terrell empha-
sized the danger of competition from Germany, where the mark had been deliberately depreciated so as to help her export trade. Mr. Fisher admitted his natural bias for Free Trade, but declared that temporary provision must be made against " dumping," so as to steady industrial conditions and lessen unemployment. The knowledge that we had means of parrying an attack would deter foreign manufacturers from trying to swamp our markets with goods produced under abnormal conditions. He likened Protection to strychnine, which, when taken in large doses, was a deadly poison, but which was a useful drug when administered in small quantities under skilled advice. He himself had at first thought that it would be better to subsidize " key industries," but he found that it would involve State control as well as heavy expenditure. Mr. Chamberlain, in concluding the debate, said that something must be done and that the Bill was the least objectionable way of doing it. The Bill was then read a second time by 312 votes to 92.
Previous page
