Autograph letter signed, deploring the Conservative Party's move to protectionism.

Churchill writes pessimistically amid the tariff reform crisis of 1903, predicting that the Conservatives' slide toward protectionism, and their blind following of the firebrand Joseph Chamberlain, will lead to disaster. "I am afraid that we are in for a fearful smash politically. Chamberlain has made a vast miscalculation of public feeling and the others are merely trusting to his judgement. The future seems most forbidding. I think the Unionist Free Traders will have to sacrifice themselves on the altar". Churchill was a passionate supporter of free trade. His letter proved prescient: Chamberlain resigned from the Cabinet two weeks later, amid further resignations by free-trade ministers opposing any concessions. In 1904, Churchill abandoned the Conservatives and joined the Liberals over the issue. Churchill writes to "Dear Fison", probably Frederick William Fison (1847-1927), Conservative MP for Doncaster from 1895 to 1906. He writes from Dunrobin Castle, seat of the Duke of Sutherland, where he was staying despite the Duke's prominent support for tariff reform. He also thanks Fison for sending on telegrams - "they are most interesting" - and "I will look for an autograph when I get back to London & do not doubt that I shall be able to find one". Provenance: the collection of Steve Forbes, chairman of Forbes Magazine, and presidential candidate in the 1996 and 2000 US elections. Bifolium on Dunrobin Castle letterhead (page size 182 x 137 mm), handwritten on two pages in black ink. A few minor spots: in excellent condition.…