In the case of Australia the actual extent of the preference accorded to British goods under the new tariff is not, as has been represented, of small value to us.  It is of considerable value.  But what is of far more importance is the fact that Australia continues to adhere to the principle of Preference.  Moreover, Australia, following the example of Canada, has established an extensive free list for the benefit of this country.  Let nobody say after this that Australia shows no family feeling.  I for one am grateful to Australia, and I am grateful to that great Australian statesman, Mr. Deakin, for the way in which, in the teeth of discouragement from us, he has still persisted in making the principle of preferential trade within the Empire an essential feature of the Australian Tariff.

Preference is vital to the future growth of British trade, but it is not only trade which is affected by it.  The idea which lies at the root of it is that the scattered communities, which all own allegiance to the British Crown, should regard and treat one another not as strangers but as kinsmen, that, while each thinks first of its own interests, it should think next of the interests of the family, and of the rest of the world only after the family.  That idea is the very corner-stone of Imperial unity.  To my mind any weakening of that idea, any practical departure from it, would be an incalculable loss to all of us.  I should regard a readjustment of our own Customs duties with the object of maintaining that idea, even if such readjustment were of some immediate expense to ourselves, as I hope to show you that it would not be, as a most trifling and inconsiderable price to pay for a prize of infinite value.  I am the last man to contend that preferential trade alone is a sufficient bond of Empire.  But I do contend that the maintenance or creation of other bonds becomes very difficult, if in the vitally important sphere of commerce we are to make no distinction between our fellow-citizens across the seas and foreigners.  Closer trade relations involve closer relations in all other respects.  An advantage, even a slight advantage, to Colonial imports in the great British market would tend to the development of the Colonies as compared with the foreign nations who compete with them.  But the development of the British communities across the seas is of more value to us than an equivalent development of foreign countries.  It is of more value to our trade, for, if there is one thing absolutely indisputable, it is that these communities buy ever so much more of us per head than foreign nations do.  But it is not only a question of trade; it is a question of the future of our people.  By encouraging the development of the British Dominions beyond the seas we direct emigration to them in preference to foreign lands.  We keep our people under the flag instead of scattering them all over the world.  We multiply not merely our best customers but our fellow citizens, our only sure and constant friends.