The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-06-19
BUSHNELL ON POLITICAL ECONOMY.

The Rev. DR.. Bushnell contributes to
iSc1bacg's Monthly, for July, an essay on
free trade and protection which eyinces
thought and a capacity for understanding
the problems involved that is very rare
among those who have dabbled in Mill
and Bastat. Though his essay is
obnoxious to the criticism Of the wit who
commended the impartiality of the bred
Scott decision, in that it "gave the law to
the North and the nigger to the South"
we believe few can read it attentively with
out gaining some light on theme which
much sophistry has darkened. DIR. Bush
nell inclines to side with the frce-traders on
purely economic grounds, but forcibly ar
CUES that the problem has other important
elements which equally demand considera-
ton, and which ought to modify the general
conclusion. For instance, he justifies pro-
lection in these contingencies among others:
A. When the munitions of war and equipments
for it require to be thus provided. The great
mind of Washington WAS not too slow to make
this discovery. And what did we also discover
in of 1872, but that we had nothing TO
we could not clothe our soldiers; we could not
even make Il blanket We had been free-traders,
buying al such things because we could buy them
cheaper; but we now discovered how soon, that
we might better have been making blankets at
double the cost for the last fifty years. The same
was true of saltpeter for gunpowder; of guns
and cannon and swords, and iron and steel out of
which TO make them A nation that is to be u
power must have ut least a sufficient supply of
iron made at home, no matter what the cost, to
arm itself for war. We began also to make the
tice of salt coming i'll short supply, was nearly
a dead necessity Zone of the munitions of war,
and that manufacturing it for ourselves ut double
the cost would have been a true advantage.
D. When the saving of investments already
made demands it. Thus we had large invest
ments of capital made in.New England during the
war of 1872 into which we were drawn to supply
the urgent demand of the time; the faith of the
Government being naturally assumed to repay
the service rendered, by such adequate Protection
afterward as might be necessary. From being a
trading people We're converted thus to being
partly manufacturing people; so that, when the
war was over we found ourselves eonverteo,
people; for the change was made necessaryto
save our investments.
Whereupon we met on all sides the tatmt of in
consistency asking what had become of ON
free trade arguments: had We not set ourselves
against protection, and what has turned us nov
10 this new advocacy but the main chance argu
ment of selishness that is always first with us
As if it We're possible for a wise nation to let
large properties perish, for any small percentage
of projections above all, for Il just nation, sayec
in its dark day by volunteer advances of capital
to refuse the care of it, and make answer only by
u talmt upon the consistency that asks that care
Or taking different example, we are supposed
10 be Just about abolishng the present small duty
of nine cents n bllshel on salt.
Assuming that the current price of salt will b'
reduced by only one-half the duty that is, by fou
and half cents II bllshel, then, for that Very
small advantage, we consent TO let our many mil
lions of investment in salt manufacture take the
chance and it may be, perish, Perhaps the,
..riu moi. I only OH tA lxflnxu "a
running on a very small margin of profit. Blu
if they should, and we should find ourselves a
our supplies at sea cut Off what could we do bll
make al our Investments over again for sal
is as much necessity of war gunpowdeI
Our petty saving turns out thus possibly to b
cents more Il buslel salt to the end of tn
world than to encounter any such risk