New-York tribune., 1877-11-10
ANGLO-AMERICAN TRADE.

/ A PROTECTIVE TARIFF LIKELY TO De DEMANpED ~
| ENGLAND-THE BALANCE OF TRADE Win THIS
COUNTRY DFEMED TO BE on THE WRONG SIDE
WHOLE TRADES sUFFERNG-DIsCUssICS Ex-
CITED BY MR.. cHAMBFRLAIN's AND GENERAL
GRANTS REMARKS.
lFRoM TIE REGULAR CORRESPONDENT OF TuE IhlDCSN''
LONDON, Oct 19.-"All the signs, indeed point
70 the conclusion that, should the depression Oh
business last much longer we shall have to lace d
very real agitation for retaliatory tariffs"
So write, the organ of the English Torres, ue-
spondingly not exultingly for TOrysm IN Engahu
is IN these days tho supporter ana no loH5''
the opponent of the dogma OF Free lIiuc'
having been duly converted by the kno"E
edge that Free Trade had come to mean q nio-
nopoly for British manufacturers III many VI ."'
worlds markets. The occasion OF tins declaiA.rU
is General Grants speech at birmingham "e
General had the courage to say word in behalf of
Protection as understood IN America 10 an auuoHCo
of rampant Free Traders, in town which might al
most take rank with Manchester itself az
a citadel of that doctrine. What Oenerai
Grant sad was called out by little fIee
Tra,.4 lecture which Mr. Chamberlain, NJ -
in proposiur General Grants health at the
dinner. thought proper to deliver. Puttlhg asuo
the question Of taste, let US see what Mt OnailOoi
lain said He is so able a man-an able business
man. among other things, and has proved MS aoH'y
by accumulating a fortune and retiring from busi-
ness long before reaching middle age-lhat
whatever he on such SUBJECT
i. worth considering Yet, it must strike
YOU as odd it must fill Mr.. Davlu
A. Weiss ingenious breast with horror TO find Mr.
Chamberlain ranging himself among the partiSans
Of that doctrine of the balance Of trade which the
Economists Thought they had long since overturned
Beginning by an expression Of his satisfaction that
the trade between Great Britain and the United
States is still Of vast proportions, Mr.. Chamberlain
goes on to lament that the increase from 1919 10
1873 Is "unfortunately" all on one side. Ihe lm-
ports account for all the augmentation, and Whlie
we had enormously extended our purchases we
have not been able to our sales III anything
like the same proportion. This bad gwen rise 10
good deal Of discomfort which Mr.. Chamberlain
plainly shares.
Now we have ALWAYS been taught by economists
who preach Free Trade, that this excess OF imports
So far from being a disadvantage to the importing
country is q proof OF its superior ability to buy ana
hence Of its prosperity. In the present case 1t Is
nrospcrity Of so peculiar kind that 1t
produces discomfort. and evokes lameniatlon
from SD intelligent a Free Trader as Mr. Cham
berlain. member OF Parliament for birmingham
and colleague 10 Mr. Bright. The discomfort Il So
great that IL broke out even in the midst OF he festiv
itas of General Grants visit and that retired war
ror had as his host tells heard whIsperngs ot IL
in the manufactures be had been visiting.
More than that, il has provoked threats oil
retaliation The Birmingham manutac turers, who
have seen their American trade fall OF under
the influence of the American tarlH fostering
American manufactures, take but little stock III
economical theories about the balance of trade.
They waut-sma blame 80 them-to regain the posi-
t,n they have partly lost and 10 repeal Ameri-
I.1.I Amor loan r1qU rrf flp-
t1res To compete with them to some extent. And
they have a notion a. the British sugar-reners had
about the French bounties, that what they call
retaliation is a good way Of Teestablishng their
trade Their view H. IN short just that which set
forth in q recent letter. as being the handspring OF
the Golden Club movement, for the spread OF
the gospel of Free Trade British interests are at
stake. The manufacturers of iron and other goods,
are losing their hold of foreign markets. Whole
trades are suffering in consequence, and
the capitalists whose fortunes are embarked
in those trades tie workmen whose
wages deFend on them, the towns and counties
W hose prosperity is bound up IN the success OF them,
know uotbirg and care nothing about the prosper
itv of other industries, the general commercial
activity or accumulated wealth which enables Great
Britain 10 20 on paving for her vast excess
of imports over exports. What they know
Is that they, meantime, are being ruined
They believed IN Free Trade because 10
brought them wealth their faith m it declines with
the decline of their business. They tell you that
theory of trade must be judged by results, and they
viii end by prefeTing any doctrine which puts
moley in their purses. to any doctrine
which lands them i'm poverty and spreads
distress over the country. They viii end
bv accepting Mr.. Mills maxim, that eco
nomica policy is a question of circumstances;
that Protection NAV be suited to a country at one
time. and Free Trade at another Their idea OF re-
taiiation NAV be- as Mr.. Chamberlain says, one
which mo- sensible man would adopt but the reason
for not adopting t must be its mttness as a remedy
for pressing evils, by DO means its Inconsistency
with some pet theory Of some foreign OF native
essayIst
MIR. Chamberlain expressed a doubt whether Cen
eral Grant would bee ready 10 and IL the restoration
Of the control of tine manufactures Of England over
the markets of the United States and his doubt
nroved well founded. The General said ne thought
me recollected reading that England had protective
t,ff pntiI her manufactorics were established He
tbouplt the nlted states rapidly progressing IN
estobli.hing manufactures themselves, and believed
tlev yould become one of the greatest free trade
nations ON the face Of the earth He thought that
when that had happened and botn nations were free
traders the balance Of tine nations had better stahd
aside and not contend with them IN the markets oil
the world Cold comfort am afraid the Birming-
ham people found in these views. They are
EXPRESSED in a form 10 which all frotec-
tonists would not assent but they nave
done service. They have elected discus
sion; two daily papers in London deVotlng
leading articles 10 them undertaking to combat the
| idea OF Protection temporary measure when
H.. I,aI. I'm