ABSTRACT
To the onlooker it looks rotten business from the very section of the party the extreme Tariff Reformers who have pushed the Lords over the precipice. Tariff Reform would have won handsomely at the next general election coming in its ordinary course. Apparently the Master regards the passing of the budget as a real disaster as beginning a method of raising money that leads straight away from Tariff Reform and straight into Socialism. It seems to the author that the welding together of old radicalism and modern socialism which this pro-budget-anti-Lords movement means will get more and more dangerous the longer it lasts and it is bound to last until it gets its government into power. On that reasoning, a victory for Tariff Reform, unless it were absolutely overwhelming, would be the most dangerous issue of the present campaign for Conservatives.
