. COTTON TRADE PROFITS.
[To THE Bones or THE .BPICTRTIMI:] Si ,—Please let me say, in bringing this correspondence to a close so far as regards myself, the reason I wrote you a month ago concerning continued big spinning profits was that about two years ago Tariff Reformers in your journal said, d propos of a letter of mine in the Spectator on the remarkable cotton trade expansion, that the activity was " transient." I replied on July let, 1905, that I did not hold that view. May 'I be pardoned for pointing out to-day my opinion has turned out right? Tariff Reformers may make up their minds that Lancashire will have nothing to do with Protection in any shape, not even with the foolish Preference immaturities of Mr. Balfour. His last fiscal speech has given greater solidarity to Free-traders (both Liberals and Unionists) in
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