In the debate on the same day on the second
reading of the Finance Bill Mr. Chamberlain declared that Mr. Asquith was evidently regarded by some of his supporters as a wolf in sheep's clothing, but only for the moment. Next year he was expected to play the raging wolf in his depredations on the community. Mr. Asquith in his reply met Mr. Chamberlain's criticisms of the Tobacco-duties. He admitted that they contained Pro- tective elements, but pointed out that they had existed for a long time, and produced a large revenue. Dealing with the Coal-tax, he charged Mr. Chamberlain with not knowing his own mind, inasmuch as he had written a letter during the Election to say that he was personally in favour of repealing it. As for Mr. Chamberlain's statement that the Government were going to give two millions to the wholesale tea-dealers, he pointed out that the total cost of the remission of the duty to the revenue was not estimated to exceed one million. In conclusion, Mr. Asquith justified his proposals for the reduction of the National Debt. But having been able to set aside £13,500,000 for that purpose, he thought he could not ignore the claims of the taxpayers for relief. The Bill was ultimately read a second time without opposition.
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