chedules to give an increased measure of
protection to their home producers. To us it is a tax on food, and, as
I assert again and again, upon raw material, and thus upon all the
industries of these islands. If the Conference has established one
thing clearly it is this, that none of the great self-governing
Colonies of the British Empire are prepared to give us effective
access to their own markets in competition with their home producers.
That was established with absolute clearness; and even if they were
prepared to give us effective access to their home markets, I submit
to the House that, having regard to the great preponderance of our
foreign trade as against our Colonial trade, it would not be worth our
while to purchase the concession which they would then offer at the
cost of disturbing and dislocating the whole area of our trade.
Therefore, we propose to adhere, and are prepared if necessary to be
censured for adhering to our general financial system, which is
governed by the rule that there should be no taxation except for
revenue, and based on the commercial principle of the equal treatment
of all nations, and the most-favoured-nation treatment from those
nations in return.

Important as are the economical arguments against a preferential
policy, they are in my opinion less grave than the political
disadvantages. On other occasions I have addressed the House on the
grave danger and detriment to the working of our Colonial system which
must follow the intermingling of the affairs of the British Empire in
the party politics and financial politics of this country. To
establish a preferential system with the Colonies involving
differential duties upon food is to make the bond of Imperial unity
dependent year after year upon the weather and the crops.

And there is even a more unstable foundation for Imperial unity. Does
it never occur to right hon. gentlemen opposite that this solution
which they offer of the problem of Imperial unity places the Empire
not on a national, but on a purely party basis, and upon a basis
repudiated by at least half the nation? Some day it may be that they
will return triumphant from a general election. As party politicians
they may rejoice, yet I think a wise statesman would try to win for
the British Empire, our Colonial relations, the same sort of position,
high above the struggle of Parties, which is now so happily occupied
by the Crown and the Courts of Justice, which in less d