Free Trade and ProtectionMacmillan and Company, 1878 - 173 páginas |
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Adam Smith advantage agricultural produce Alsace America amount arguments Australia balance of trade beet-root Belgium bounties on exports branch of industry capital and labour caused cent Commercial Treaty compensation consequently considerable considered corn laws cost of carriage cotton dearer demand doubt economic effect emigrated employed English market entire extent facture farmers foreign competition foreign countries France free trade free-trade French sugar French wines greater high price higher home trader impeded import duties imported into England imposed imposition increased industrial depression inflicted influence injury instance iron land less levied loss machinery maintained manu manufacturing industry nation obtain present price of coal profits and wages prosperity protectionist party protectionist tariffs protective duties purchase quantity rate of profit reduced regarded rents revenue salt scarcely secured sequently serious shown silk Sir Robert Peel sliding scale supposed tection trade of England United various wheat woollen
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Página 110 - But the protectionism should be confined to cases in which there is good ground of assurance that the industry which it fosters will after a time be able to dispense with it; nor should the domestic producers ever be allowed to expect that it will be continued to them beyond the time necessary for a fair trial of what they are capable of accomplishing.
Página 110 - The superiority of one country over another in a branch of production often arises only from having begun it sooner. There may be no inherent advantage on one part, or disadvantage on the other, but only a present superiority of acquired skill and experience.
Página 110 - The only case in which, on mere principles of .political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country.
Página iii - FREE TRADE AND PROTECTION : an Inquiry into the Causes which have retarded the general adoption of Free Trade since its introduction into England.
Página 80 - are constantly made by protectionists that their opponents persistently ignore all the results of protection which are not economic, I will be careful to consider those results.
Página 131 - The international commerce of the United States is at present mainly carried on in foreign bottoms, which took over 70 per cent. of the aggregate imports and exports of the fiscal year 1874-75. Previous to the year 1860, from 75 to 80 per cent, of the total commerce was carried by vessels belonging to the United States.
Página 110 - ... on the other, but only a present superiority of acquired skill and experience. A country which has this skill and experience yet to acquire, may in other respects be better adapted to the production than those which were earlier in the field ; and, besides, it is a just remark of Mr. Rae that nothing has a greater tendency to promote improvements in any branch of production than its trial under a new set of conditions.
Página 112 - ... industries, who have enjoyed protection for a long series of years, have been willing to submit to a reduction of the tariff, or have voluntarily proposed it. But, on the contrary, their demands for still higher and higher duties are insatiable and never intermitted.