At last Mr. Balfour has broken silence on the fiscal question. Indeed, in order that there li be no mistake about his opinions he has accepted a challenge thrown down by Mr. John Morley and reduced his views to writing "on half-<heet of note paper." He read them out last night at a me-ting of his constituents in Manchester; but this morning th-country is not very much wiser than before. has enunciated a series of four general principles; but still he does not Silas bow far be would go with Mr, Chmberlain. Everything would depend on how those general principles were applied. He desires such an alteration of our fiscal system as will give us a freedom of action impossible while we hold ourselves bound the maxim that no taxation shi be imposed except for revenue ly he desires to see closer commercial union with the Colonies. Thirdly he recommends a colonial) couferencs to thissend. And fourthly he does not desire to raise home prices for the purpose of aiding home productions. To the abstract these are principles which might be adopted by a thoroughgoing Free-Tiader; but the general effect of Mr Balfour's speech is to confirm the view of those who held that his Edinburgh speech wea intended ae approach ta-wards rati than s repudiation of Mr. Chamberlain's plan, It is more than ver certain now that there is only one new Gsca! programme before the c>un'ry, snd that in Mr. Champ-nain's. It is on that and that alone that the fight will take place. The latest by-lection ha: venulted 1 another severe defeat for the Mi liste. In North Dorset, where a vacancy bea been caused by the death of Mr. Wirgfeld Digbr, " Unionist majority '"f 540 has been converted into a Liberal majority of over nine hundred.
Text read from the printed page and cleaned; old type leaves the occasional error.