We entirely agree with Mr. Chamberlain's declaration that the coming
age is one for great Empires and not for little States, and we are as anxious as be is that we should continue as a great State, and that the British Empire should be held together. We differ from him, however, in thinking that the end is to be achieved—for so we judge the drift of his words —by copying the fiscal policy of Continental States, and by endeavouring to create trade by any organised system of privilege and exclusion. We hold that what makes a nation great economically as well as morally, and what keeps it so, is a wide and liberal policy in matters of trade, a policy which is based on the maximum of freedom of exchange that is con- sistent with the raising of revenue. What "ruins kingdoms and lays cities flat" is the attempt to set up a monopoly of trade, and to behave as if the at of exchange could only benefit one party to the bargain. The idea of building up the Empire on any limitation of trade, however ingeniously designed and however patriotic the motive, is, in our view, an entire delusion. Why cannot our statesmen leave the Empire alone P Our present free system has surely given us results of which we ought to be proud and grateful. If the Colonies had afforded us no aid we might very naturally try to find a better system. Considering the help rendered by the daughter-States during the war, it seems to us most unwise to try a new system.
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