e had waved aside the umbrella which a
supporter was holding over him, and regardless of the rain, he stood out
in the full glare of the reflected gaslight, a ponderous, powerful
figure.

"No one can accuse me," he cried, "of being a pessimist. Throughout my
life I have striven personally, and politically, to look upon the
brightest side of things. But I count it a crime to shut one's eyes to
the cloud in the sky, even though it be no larger than a man's hand.
Years ago that cloud was there for those who would to see. To-day it
looms over us, a black and threatening peril, and those who,
ostrich-like, still hide their heads in the sand, are the men upon whose
consciences must rest in the future the responsibility for those evil
things which are even now upon us. Theories are evil things, but when
theory and fact are at variance, give me fact. Theoretically Free Trade
should--I admit it--make us the most prosperous nation in the world. As
a matter of fact, never since this country commenced to make history has
our commercial supremacy been in so rotten and insecure a position.
There isn't a flourishing industry in the country, save those which
provide the munitions of war, and their prosperity is a spasmodic, and I
might almost add, an undesirable thing. Now, I am dealing with facts
to-night, not theories, and I am going to quote certain unassailable
truths, and I am going to give you the immediate causes for them. The
furniture and joinery trade of England is bad. There are thousands of
good hands out of employment. They are out of work because the
manufacturer has few or no orders. I want the immediate cause for that,
and I go to the manufacturer. I ask him why he has no orders. He tells
me, because every steamer from America is bringing huge consignments of
ready-made office and general furniture, at such prices or such quality
that the English shopkeepers prefer to stock them. Consequently trade
is bad with him, and he cannot find employment for his men. I find
here in Medchester the boot and shoe trade in which you are concerned
bad. There are thousands of you who are willing to work who are out of
employment. I go to the manufacturer, and I say to him, 'Why don't you
find employment for your hands?' 'For two reasons,' he answers. 'First,
because I have lost my Colonial and some of my home trade through
American competition, and secondly, because of the universally depressed
condition of every kindred trade througho