Note 114 — Chapter VI · COLONIES—EMPIRE—FOREIGN POLICY

The speech about Income Tax, which contains another masterly analysis of the displacement of labour. Previously, in 1845, he had said of Canada, “... I am not one of those who think that its inevitable lot is to become annexed to the United States. Canada has all the elements of a great and independent country, and is destined, I sometimes believe, to be the Russia of the New World.”