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The Pamphlet Collection of Sir Robert Stout: Volume 51

Table of Contents

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Table of Contents.

List of the Pleas for Protection Herein Examined and Answered.
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 9
2. Commerce is not the exchange of goods for goods, which would be barter, but of goods for money, which is not barter 10
3. Permanent excess of imports impoverishes, and permanent excess of exports enriches, a country 13
4. It is false that imports and exports balance each other, since many countries import more than they export, and vice versâ 16
5. Protection promotes native industry, by providing fresh channels for the employment of native labour 17
6. Import duties on foreign goods fall on the foreigner, and are paid by him 20
7. Under Free Trade native industry is taxed, while foreign industry is not 21
8. If the labour-seller in protected countries pays more for what he consumes, on the other hand his wages are proportionately higher 28
9. Protection promotes diversity of industries in the protected country 29page vi
10. Some protected nations are prosperous, therefore Protection is a benefit 32
11. Protection renders a country independent of foreigners 34
12. Free Trade would be a special boon to England if all nations adopted it; but till then it is a disadvantage to us 36
13. Other countries are too wise to follow the example of England and adopt Free Trade 38
14. England has not prospered under Free Trade, and is living on her former capital 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 42
16. By threatening to lay import duties on foreign commodities we shall induce foreign countries to reduce, or remove, their present import duties on ours 43