The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1869-10-15
EalIacles Of Am eriCan Pro-
teCtiOnisls!
TALLACY FIRST.
BY PROF FRANCIS LIEBER.
TALLACY FIRST.


At the beginning of the Ameri-
can system, so-callcd, the most fa-
vored argument Of the protection
ist was the American capital Argu-
ment. Capital, it was said, is dear
in America that is, high interest
must be PAID for it. Iu Europe
capital is cheap, consequently the
manufa cturer can produce cheaper,
therefore VIC must keep those cheap
er products out of the country. 1t
was the argument most popular in
1912 when first landedin America.
1t was Daniel Webster's chief. argu-
ment when he took the protection
ists' side. In 1924 he was yet a
champion of free trade. a states.
msnlike aud patriotic defender Of
unshacklcd exchange and free con-
sumption. IL -..
The oomc protcctionist, claimed
by those who openly proclaimed
that their object was to favor
American capital, was then, in this
case, as it is in all others, chosen
with peculiar skill. Protectionist
is term which does not mean a
person who desires to protect some
thing or somo one against some at
tack or injury, but it means exclu-
siyely person who desires to favor
one branch Of business or set Of
men at the cost of the rest. The
protectionist is always an assail.
ant. and obstractionjst would be
the fitting name for him, but We
must use the the term as it is used
in common language. though not
without . protest. j
The reply to this fallacy is, that
no protection Of capital is wanted.
since no one assails capital OF
capitalists The fact that
higher interest is paid for capital
here than elsewhere is sufficient
proof that no privilege is required,
were it even justi6able, on the fun.
damental principal Of politics, to
grant a privilege of this kind.
Whence is derived the right ol
granting prerogatives to the capi-
talists above other. producers, work.
men and tailors, at high cost to
the latter? For, if products are
kept out Of the country, because
cheaper than they could be produc
ed by American capital, in that
case. of course, the consumers,
that is the people at large, Of whom
the Strengthened and needy are al.
ways the great majority, have to
make up the.sum given to the capi.
talist or to the monopolist. 1t was
q simple matter Of undue privilege,
not in accordance with our public
law, and inconsistent with the spir'
it of individual independence per
vading our whole polity.
When the argument founded or
the protection Of domestic capital
was here in vogue, the fayorite pro-
tectionist argument in England was
that taxation in England was much
higher than on the Continent, which
consequently, could produce cheap
or than Great Britain therefore,
the cheaper productions Of the Con-
tinent must be excluded from Eng.
land ; that is to say, from the Eng
lish consumer. It is also made to
bear higher taxation at all events,
the price of the article he desires
to consume must be raised, in or
der to benefit the comparatively
small class Of manufa cturers, or ac-
tually to create privileged class
cf manufacturers. This argument
is now, when the heavy war debt il
weighing on US. frequently used in
our country.-Reform League.