the history of Anglo-Irish finance up to the present day, and I hope in so doing to have proved that, so far from presenting an obstacle to “Colonial” Home Rule, the financial conditions demand such a solution.  Finance and policy are inseparably one.  All the considerations which render Home Rule desirable lead irresistibly to the financial independence of Ireland, with complete control assigned to her over all branches of taxation.  Without financial independence it is impossible to realize the objects of Home Rule.  It would be a miracle were the case otherwise.  Ireland would, indeed, be abnormal if, after her history, she could reach prosperity and stability without passing through a phase of financial independence.  No parallel, even in the most distant degree, could be found for any such metamorphosis in the whole of the British Empire.

If we study Ireland’s interest, we shall promote Imperial interests.  The main object of Home Rule is to make Ireland self-reliant.  Lord Welby and his colleagues were right in 1896 when they declared that ideal to be impracticable without giving Ireland entire responsibility both for her revenue and her expenditure.  This declaration is as true as ever.  The situation has changed only in one respect:  that financial independence will now mean a financial sacrifice to Ireland, whereas in 1896 it would have meant a financial gain to Ireland—­that is, if Lord Welby’s recommendation in favour of remitting the Irish contribution to Imperial services had been carried out.  At that time Ireland contributed two millions.  Now Great Britain contributes over a million to Ireland.  Sooner or later that subsidy must stop, and the sooner it stops the better.

But it is of vital importance that Ireland should understand the situation.  The present position is dangerous, because the Irish people at large are ignorant of the facts, and their leaders are taking no steps to enlighten them.  The reasons are intelligible, but they are not sound reasons.  Paced with the facts and the choice, Ireland would not hesitate, but she must know the facts and understand the nature of the choice.

II.

THE DEFICIT.

Let us deal at once with the question of the deficit.  It is inconceivable surely that the existence of a deficit should be used as an argument against financial independence, much less as an argument against Home Rule in general.  Will anyone be found to say that an island with a fertile soil, several nourishing industries, and a clever population of four and a half millions, is to be regarded, whatever its past history, as incapable of supporting a Government of its own out of its own resources?  Let nobody be tempted by the fallacy that, given time, Ireland will regain financial stability under the fiscal Union, and at a later stage, perhaps, be more fitted to bear the burden of fiscal independence.  The supposition is chimerical.  The present system, besides being radically vicious in a purely scientific sense, undermines the moral power of Ireland to secure her own regeneration.