chapter  I
23 Pages

The Direct Business Question

On its business side, then, the essence of Mr. Chamberlain's plan is to purchase certain tariff concessions from the Colonies by a modification in their favour of our existing fiscal system. The chief part of the change contemplated is the sub-

stitution for the present arrangement of one under which foreign corn (except maize) is taxed 2s. per quarter, and foreign dairy produce and meat (except bacon) 5 per cent, while, on the other hand, remissions equal in amount to the revenue so raised are granted upon tea, sugar, coffee and cocoa. The problem, from the standpoint of the United Kingdom, is to balance the advantages to be purchased against the price to be paid for them.