, 1873-07-25

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nn.'sa sa' rr@as. ~ ~, a-,h.aa 1,,,,,o1 hono.
a. a.'uv. ~ ~. 80 ": ;,oor,"nf ,nnt,,,1 wants
~ 20 ,a,1;., W. ~ ,,oan .hot,, s;dc,
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1o a. ~ y So $500 Ss:..s =, ,.o1,
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~ !'1' ~ nas.oA, 49, ,,'a:, so,a
ololal oo'nsiss, Ano 1on. ~ .,:.4 I';,,.on.a
uona 10 each other' re abaolno 1ua1 n1.Aoi.o u
Byssem OF FREQ Trhdo has proVatlod between
them. until England, instigatel By a noiBy do
l,a,vo ]oairo to he indopandout. concludos to
-1..5..s =. a..o,t H. ,-;,',;,1oa ~ f-oo-
dom, and to impoae dntlea on imports coming
from this country. A diminution OF
traffic and It's proceeds Is. OF course.
thu rcsn1t. Harmed and etuue b7 tho move
mons' Ne ?eslh 60 inquire "hss w. y. ,,,. anAI w.
Tho ingenious omptrlo ansWora, "Nhy lay
tariff and retaliato; wo will project ourselves,
aud koop nor ont OF our ports, as al,o driYos us
from hor own. Wo will thus neutralizo tho harm,
- v" .'. .'st 49,. 49,. 49,. ~
prtns nor to 'er1ne, pfote'. nomo.lauus.ty' nnu
be independent Of foreign lnbor." It is this tho
ory OF reciprocal tariffs nua protective duties
hat vo wish first to eonsidor. ,,.,. !, :.
ny n1 4up .uuts ~ auuo.a'oh , .uaI ean
not DC proaueou AZ homo ID 70 Faaso lts price ana
diminish it's consumption. II lntu upon Bome-
thing which can IN prodnced at homo but only
nt a croator cost tf!an tho importod article, tho
astr 80, ~ h.a;r ~ anar,ta ~ {. tactian
u'.y '. WI nv uoen ~ urot@ a, ,:1.
unl't IL e1ccoua, VI a. Ha1'"auaia' 'no "1''ie1ce
botwoen the cost Of tho imported and homo pro-
ductfon. When It goes bovond this difference.
an t,,o o,co.a ia ao rnnc1, nrotoct;on
wi. i. 1,ea,,naa y, oro,t H. thoro
"hon ~ oocon'os ~ siens 1nat 'u'lo
ia no longer any inducement to
import, and tho demand has fallen with tho ca
been atimulatod so NJ to equal tho entire do
mn,,d, importation coasoB. aud tho duty becomes
prohibition. We have, thon, three grades in
tile operation Of dutes: tue first, not sufficient
ond protective but not prohibitory; and the shlrd
both protective and prohbitory. It will bo sat
afactory, perhaps, to consider such duties az are
moro or lass proteotivo; q class comprohending
all l,oxcopt such as aro merely nominal, or those
imposed upon articles which can neither be pro-
dueed; nor substitutes found for thom, at homo:
What interests lro capable OF protection i? 1t
is clear that England cannot protect by duties
the manufacture OF iron, nor tho United states
the cultivation Of cotton, nor China that Of toa
These arc exporting intorosta. Every nation
| produces d surplue Of somo thngs, in the nat
ural application OF itB industry, aud
suffers deficiency Of others, To
| equalize theaa wants and oxcesscs ie tho
Office OF commerce. The branch Of Industry
which PRODUCES d surplus Is generally tho lead
involved In it's prosperity. Agriculture is tho
| loading intorcHt Of America, and manufactures
OF England. One or the otler. is tho leading in-
Of every great e0mmorea' m natlon
port, It may 10 great, but not commercial M
tio,l. .Englnnd is commercial nation, because
(! it produces surplus Of manufacturer:
~ frrt1.