New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-07-26
FREE TRADE and ITS DRAWBACKS.

fidelity the duties lntruSttu I'D il'
FREE TRADE AND ITS DRAWBACKS.
English theorists who have ridiculed the
crudties and fallacies of American finance'
are finding ont that they themselves
have much TO learn IN economic science. MIR.
Bright is still declaiming with Old-time elo-
ouence against the "barbarism OF our
tariff and the "absolute lunacy" of those
European nations which are following IN our
wake out the Premier has dismissed the as
sumption that Protection is Incompatible
with National prosperity, and sober-mlnded
Englishmen are beginning to realize that an
ultra free-trade policy does not work well
when their own colonies and the principal
Governments of the world are leagued In OPP
position to il. We find in that candid jour
nal. The PdH NAL Gdsette, some wholesome
reflections upon the results of the commercial
policy which Great Britain has blindly followed
for thirty years. 1t contends that Engilshmen'
"without denying some manifest Dement'S from
Free Trade, may legltimately point out
"sOme manifest drawbacks on them." Flrst
of all there has been a strong foreign ana
colonial reaction against the English system.
Manufacturing communities which were I'M
dprsold "betook themselves to the refuge OF
Protectionism and one market has been
"closed after another until the British manu-
"facturer, left with his plant on his hands,
"cannot always command a profit sufficient
f" for its maintenance AT the same time the
effect of the importations of food has been
to drive the British agriculturist out OF the
market and those who are much concerned
for national greatness are forced to admit
that when the main supplies of food are raised
thousands of miles away, " under the control
"of foreign and not uniformly friendly
government England can never be COM
blatant country" The conclusion is that
while the collective wealth of the people has
been increased and pauperism perceptlbly di-
minishcd, Free Trade has not been all I'M
mixed good.
THIS is more judiciOus summary OF the
case than we were prepared to find IN an
English journal. The danger Of depending
upon a foreign food supply was apprehended
when the Corn Laws were repealed ; but as an
offset to this disadvantage the Free Traders
predicted the rapid growth of manufactures
an increase in private incomes. rise In wages
and the value of land. and the employment
of the surplus population. Some OF these con-
ditons of national prosperity have been full
filled, but not all. The development OF indus
trial enterprise has been marvellous the ae-
emulation of capital has been constant; but
there has been no propOrtiOnate rise In wages
and land, and unless the times mend, there
will be no means of employing the increasing
surplus OF population, and emigration VIII
be the only alternative of pauperism. AT the
same time the quantity of imported bread
stuils has been steadily increasing and with
another bad harvest staring her III the face
and the wages Of her operatives already cut
down to the lowest point, England cannot
hope to diminish the cost of living and manu-
featuring. Under these circumstances 1t is not
strange that the current of dissatisfaction
with the results of Free Trade is growing
stronger. The conviction is being forced
home that reciprocal trade should have been
bargaIned for when the customs duties were
repealed.
The English economists have acted upon the
theory that Free Trade principles would be ac-
knowedged by all nations. They expected to
take our brcadstuifs and cotton and to give
us manufactured articles in exchange, and
looked forward to an era OF British trade and
universal good nature when what they re-
garled a. n rational division OF labor would
be extended to the civilized world. They over
looked the fact that the United States required
the same completely of national life which
England already enjoyed. Our people needed
reserves of capital, diversity Of industries and
work for all classes, whereby the surplus of
population which was drained from the Old
World could find profitable employment. They
worked out the problem as best they could and
found material progress under q Protective
Tariff