"Apart from the claim of Ireland to special and distinct
consideration under the provisions of the Act of Union, and upon
the ground that she has for many years been, and now is,
contributing towards the public revenue a share much in excess of
her relative taxable capacity; I think that Great Britain as a
manufacturing and trading country would in the course of time be
amply repaid by the increase of prosperity and purchasing power in
Ireland for any additional burdens which this annual grant to
Ireland might involve. Looked at simply as a matter of good policy,
it would be that often advocated with regard to Crown Colonies of
Imperial expenditure with a view to the development of a backward
portion of the Imperial estate. Ireland is so much nearer to and
more exclusively the customer of the trading and manufacturing
districts of Great Britain than any Colony, that this argument in
her case should have redoubled weight. It is at least probable
that, if in place of the fitful method of casual loans and grants
hitherto pursued, there was a steady, persevering, and
well-directed application of public money by way of free annual
grant towards increasing the productive power of Ireland, the true
revenue derived from that country might in time be no longer in
excess of its relative taxable capacity."[79]
The wisdom of this Liberal Chancellor of the Exchequer makes a strange
contrast with the folly of the Radical Chief Secretary, who tells
England to "cut the loss" at the moment of Ireland's rapid progress
because Irish Old Age Pensions have exceeded in number the reckless
anticipation of the Right Hon. Mr. Lloyd George.