valry in manufactures) gained us from the Liberals.

To return to the question of empire. The bulk of the Conservative party
would hold the colonies if possible, and pursue an imperial policy; while
certainly a large portion of the Liberals--not all, by any means--would
let the colonies go, and, with the Manchester school, hope to hold
England's place by free-trade and active competition. The imperial policy
may be said to have two branches, in regard to which parties will not
sharply divide: one is the relations to be held towards the Western
colonies, and the other in the policy to be pursued in the East in
reference to India and to the development of the Indian empire, and also
the policy of aggression and subjection in South Africa.

An imperial policy does not necessarily imply such vagaries as the
forcible detention of the forcibly annexed Boer republic. But everybody
sees that the time is near when England must say definitely as to the
imperial policy generally whether it will pursue it or abandon it. And it
may be remarked in passing that the Gladstone government, thus far,
though pursuing this policy more moderately than the Beaconsfield
government, shows no intention of abandoning it. Almost everybody admits
that if it is abandoned England must sink to the position of a third-rate
power like Holland. For what does abandonment mean? It means to have no
weight, except that of moral example, in Continental affairs: to
relinquish her advantages in the Mediterranean; to let Turkey be absorbed
by Russia; to become so weak in India as to risk rebellion of all the
provinces, and probable attack from Russia and her Central Asian allies.
But this is not all. Lost control in Asia is lost trade; this is evident
in every foot of control Russia has gained in the Caucasus, about the
Caspian Sea, in Persia. There Russian manufactures supplant the English;
and so in another quarter: in order to enjoy the vast opening trade of
Africa, England must be on hand with an exhibition of power. We might
show by a hundred examples that the imperial idea in England does not
rest on pride alone, on national glory altogether, though that is a large
element in it, but on trade instincts. "Trade follows the flag" is a
well-known motto; and that means that the lines of commerce follow the
limits of empire.

Take India as an illustration. Why should England care to keep India? In
the last forty years the total revenue from India, set down up