With a very great part of Mr. Balfour's speech we
find ourselves in the heartiest agreement. No doubt be declared himself in favour of Tariff Reform, and appeared to make Tariff Reform the essential principle of Unionism in a way which we regard as dangerous and injurious in the extreme. At the same time, the bulk of the speech was an admirably reasoned attack on Socialism. Nothing could have been better than his declaration that what we -want is business. "The policy which gives you business is the policy of the poor man." Again, we endorse most heartily his declaration that this Budget cuts at the root of all enterprise, and that security is the essence of industrial success. We are also with Mr. Balfour when he declares that social reform cannot flourish in the atmosphere of the Budget- " If you tamper with security you injure the wage-earning classes." Thoroughly sound, too, was his assertion that what we have to fear is the slipshod Socialism of the Liberal Party. We also agree with him in the hope he expresses that we shall see a great extension of peasant ownership of laud in England. Where we join issue with Mr. Balfour is on the question of what is the policy which will give business, and thus make work, for that unquestionably is the best policy for the poor man as well as for the rich.
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