The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1879-07-18

PROTECTION VS.. FREE TRADE.

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which from different stand points they |
form very widely different, but very .
plausible theories. The doctrine OF free f;
trade Is very taking, and could 1t be
realized might prove UNI
versally beneficial and best for all; but
unfortunately there are many great ana |,
obstacles in the way oil
the full and practical adoption of free I
trade. 1t may do well for an old coun-
try like England, after she has grown |,
rich and strong under a system OF long
continued and Uniform protection, ana
ACQUIRED the capital necessary to control
the commerce of the world, and with
her population so crowded as to cost
her capitalists but little for labor to
manufacture her goods, to. advocate free
trade, especially when her area and eli
mate are so circumscribed that very
large portion of the necessaries OF life
as well as still larger proportion OF
the raw material with which she stocks
her factories, must be raised outside her
own domain.
But this policy that has proved SO
beneficial to England during the past,
with all the advantages she possesses
from proflting by them, has for its con-
dition free trade with all younger coun-
tries, and il all younger countries open
their markets to her, sell her their raw
material, taking back her manufactured
goods, paying her not only for the WORK
she has expended upon them, but 1or
transporting the raw material to her
country and the manufactured articles
back, thereby paying England tor man.
ufacturing her goods, and contributing
to support her commerce, ship builders,
&C., then indeed, England can profit
by, and safely advocate and adopt free
trade.
But how with the younger countries
that contribute of their substance to sup
port and enrich the older country? If
these have no natural advantages for
manufacturing or developing COM
merce they must continue to be hewers
of wood and drawers of water for the
older; but with all the natural facilities
for raising raw material, yea, with the
raw material to be had within her own
boundaries, to be had for the using to
stock her factories, is it well, is it poll
tic to long continue to contribute to en-
rich the older country, and fail to profit
by and use her natural advantages. 1t
would perhaps be safe for the younger
country, or perhaps she could continue
to exist, did she import from the older
only to supply her actually needs, and
only what she is actual paying down
for by her products; but practically
she never does this with her goods, the
older country gives the younger such
extrayagancies in dress and styles of
living as she herself can perhaps afford,
especially so long as she can grind them
out of the poor laborers and factory OPP
eratives, but the indulgence Of which
inevitably brings the younger country
into debt to the older; hence, the young
er has to pay the older a higher rate of
interest on this Indebtedness or her
credit fails, and she has to make still
greater concessions to her creditor, and
like him who is heavily mortgaged the
interest soon eats up the principal, and
bankruptcy is inevitable.
All this may be going on, while to
superficial observer things may look
prosperous, as in the case of the victim
of capitalist who has obtained tempo
rary relief, and the means of putting on
an outward show of prosperity, by
making greater concessions and putting
himself more completely into the power
of the capitalists. But while it may
haye been harder for the time TO re-
duce the expenses and work out the
means of paying previous Indebtedness,
instead of borrowing at rate of interest
that of itself must prove disastrous and
absorb the principal, it would have been
safer, and in the end placed the subject
independent of the capitalist, and on a
sound financial basis, instead of being
at the mercy of the capitalist and in the
state of bankruptcy. And herein is the
secret of this whole master of free trade.
Free trade to England means, take all
the products these younger countries
will give You in exchange for manufac-
tured goods, and with those goods give
them all the Injuries and extravagant
tastes you can induce them to take, and
which will inevitably bring them into
Indebtedness to you, then with the
power Of interest absorb their material
resources and thus keep them abso-
lutely dependent on England, and con-
tilued contributors TO her material pros
perity and wealth.
Now to the younger country without
capital this may seem an easy way to
begin life and to keep up appearances,
but for country with great natural adj
vantages and with resources unbound
ed, as is ours, to remain the vasal and
creditor to the old countries Is simp-
ly suicidal, and every yard of cloth we
buy from them that we can manufacture
from our raw material raised at home,
and every pound of iron that we pay
her for that we can produce from our
own inexhaustible ore and coal beds,
helps to place her in the position of
creditor, and us in that of the unfortu-
nate debtor, and in the end at her mel
cy.
We remember hearing the late Sam
uel s. Phelps say that Free trade for
this country meant buy everything you
can, and produce nothing to pay for it :"
We have been induced to write out