The Pamphlet Collection of Sir Robert Stout: Volume 51
Pleas for Protection Examined
Contents
- Pleas for Protection Examined
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Chapter I. — Introduction. I. International debts not paid in specie. 2. All commerce is barter
- [introduction]
- 1. Balances due by one country to another are paid for in specie. Hence, if the balance of trade be against us, we shall be drained of our specie to pay for such balance p. 9
- 2. Commerce is not the exchange of goods for goods, which would be barter; but of goods for money, which is not barter. It will not, we think, be difficult to show that the exchange of goods for money is virtually as much barter as though the goods were directly exchanged for other goods p. 10
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Chapter II. — 3. Excess of imports mostly a sign of wealth. 4. Imports and exports (except those for loans or repayments) balance each other. 5. Protection discourages native industry p. 13
- 3. Permanent excess of imports impoverishes, and permanent excess of exports enriches, a country p. 13
- 4. It is false that imports and exports balance each other, since many countries import more than they export, and vice versa p. 16
- 5. Protection promotes native industry by providing fresh channels for the employment of native labour p. 17
- Chapter III. — 6. Import duties on foreign goods fall on the importers. 7. Free Trade supplies native industry with cheap materials and cheap living p. 20
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Chapter IV. — 8. Wages highest where most wealth is created. 9. Protection frustrates division of labour. 10. If protected nations prosper, it is in spite of, not because of, Protection p. 28
- 8. If the labour-seller in protected countries pays more for what he consumes, on the other hand his wages are proportionately higher p. 28
- 9. Protection promotes diversity of industries in the protected country p. 29
- 10. Some protected nations are prosperous, therefore Protection is a benefit p. 32
- Chapter V. — 11. As to dependence on foreigners. 12. Free Trade a boon to the nation, whether others adopt it or not. 13. As knowledge spreads so will Free Trade p. 34
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Chapter VI — 14. Increase of wealth under Free Trade. 15. That increase not due to the gold discoveries. 16. As to threatening foreign countries with retaliation p. 40
- 14. England has not prospered under Free Trade, and is living on her former capital p. 40
- 15. England has no doubt prospered, but that prosperity is due, not to Free Trade, but to the gold discoveries in California and Australia p. 42
- 16. By threatening to impose import duties on foreign commodities we shall induce foreign countries to reduce, or remove, their present import duties on ours p. 43
- Chapter VII. — Conclusion p. 46
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Chapter I. — Introduction. I. International debts not paid in specie. 2. All commerce is barter