ts amount to sixty-five millions sterling. Even less do we realise
that one-half (thirty-two millions sterling) is the value of the imports
of manufactures, mainly British, into Ireland. This trade in
manufactured goods is not only already enormous; it is rapidly growing.
It has increased by more than four millions in four years. Any
ill-considered legislative measure which interfered with or disturbed
this great volume of trade would no doubt cause serious loss to Ireland;
but it would bring bankruptcy and disaster to many British firms and
their workmen.

It is, nevertheless, in respect of the political changes and the
legislative measures passed in the last quarter of a century that the
most serious obstacles will be found in the way of framing any
satisfactory scheme for financing a measure of Home Rule. The Irish
Local Government system, framed on the British model by the Act of 1898,
the Congested Districts Board, and the Department of Agriculture, have
hitherto depended financially, either wholly or in part, on Imperial
grants in aid. Local taxation payments alone from the Imperial Exchequer
amounted in 1910-11 to L1,478,000. The financial scheme under Home Rule
must obviously contemplate and provide for the continuance of those
grants. Land Purchase schemes have been enacted which have already had
the effect of converting a quarter of a million tenants into owners
under a contingent liability of 120 millions sterling guaranteed by the
Imperial Exchequer. No financial scheme can ignore the fact that the
earliest of the annuities created under the Wyndham Act will not expire
before 1972, so that the Imperial liability for the payment of the bulk
of the annuities already created will continue for at least seventy
years more.

Finally, we are faced with the fact that in the last twenty-five years
the relations of the State to its citizens have been completely
reformed and extended. Social reform is now in the programme of all
parties. Education costs several times as much as in 1885. The aged poor
have been provided with pensions by the State, and the Insurance Act of
last year will shortly call for additional subventions from the Imperial
Treasury.

In addition to the new duties thus undertaken by the State, the cost of
Defence and of the Civil Services has grown by leaps and bounds. We need
not look too closely into the apportionment of these charges whilst we
remain partners in a United Kingdom, but if the par