Daily Republican., 1879-12-05
EnuIand's Depression ihe Result
OrFree Trade.

in the following remarkable letter.
wi ich appeared in the columns OF the
Sheffield "Daily elegraph:"
SIR England has had four lean
years Is she to have seven AS yet,
alas there is scarcely a sign OF return
/ ing prosperity. Wages are still falling,
every day the busy hum OF our TEEN
ing hives of industry gets fainter, in
dustrial establishments are closing, our
best operatives flock to the land OF pro-
lection, and the only crumb OF comfort,
the only speck Of silver lining to the
cloud, the straw that drowning men
catch at, Is that America, prosperous
beyond example, may perhaps draw a
portion of her wants from this country.
This is no ordinary trade depression
We know the signs too we'll; they can
be foretold like an Atlantic gale they
run their course and pass away; but
this does not pass away. Neither Zulu
war, nor Afghan war, nor the spots on
the sun, nor even Lord Beaconsfield
himself, nor all four combined, will ac'
count for the palsy that has struck
down our industries.
at is ia time Of Distress" says Mr..
Bright, "that the unwisdom and IN.
iustice of laws come to be examined, "
and 60 it Is with free trade; the soph.
isms. the paradoxes, the theoees Of
free trade are being examined with rap
idly-iuoreasipg skepticism, and Tree
traders are furious-their vocabulary
fails them for want ofwords to denonnce
the fools, the idiots, and worse, VINO
will not read the pages of political econ
omy exactly as they read them. But,
after all, this exhibition Of temper Is
unreasonable their reading is not the
general reading of mankind-it IS op-
posed by the practice OF every indus
trial notion in the world, except the
"unspeakable Turks
In America, France, Belgium, derma-
nv. Switzerland, Holland-in fact,
wherever the common sense OF mankind
ia allo we'd to exert itself, the first and
great commandment, the "whole law
and the Prophets" political economy,
| ia allowed to be this: "That national
prosperity depends on general employ
ment."
The skill or industry of the workman
in the trade is his capital, the "capital
Of labor" In an industrial community
the capital of labor is the chief produc-
tive capital of the country, but without
general employment it is valueless. II
is general employment that turns over
this capital and makes Ii increase and
multiply.
The "capital Of labor" cannotaiiord
to remain long Idle. II employment IL
denied in one place it speedily emi
CRATES to another more congenial.
This is the first lesson of Political
Economy as read by the light OF uni
versal suffrage in France and America,
and SO it would be the reading In En-
gland, too, if We had universal suffrage
But this is not the lesson taught by
Mr.. Bright and his friends. "Political
economy" say they, "tells US nothing
about general employment. Let tha'
regulate itself; we don't recognize the
claims of the capital of labor. The one
lesson political economy teaches us is
that the consumer should be enabled
to buy in the cheapest market it is a
matter Of perfect indifference to US by
whom this market is supplied, whether
| by our own producers or by the pro
ducers of France, Belgium or America
There is no national nonsense about
US We are cosmopolitan to the back
bone. If our producers cannot supply
us as cheapIy as the foreigner, they
must turn their hands to something
else, or leave the country, or starve.
Whenever there has been question
of commercial treaties, or change OF
duties in France or America, or Bel
pium. the first question invariably
asked is, "How will it affect the general
employ ment of the people'" And the
reply to that question has invariably
guided their decision.
America, France and Belgium have
never swervsd in one single instance
from their policy of protecting the en-
ployment of the people; and what Is
the result?--thst the capital OF labor
has been steadily turning over, accumu-
lsting and multiplying, and enrichlng
all classes of the community. In Amer
| ica, especially, the effect OF protecting
the employment Of the people has been
little short of marvellous; the best
workmen of England have flocked to
her; industries that 10 years ago had
no existence, have sprung into vigor-
ous life; she has multiplied her make
of Bess.,ner steel Is times in ten years;
abe has 700 iron works in full opera
tion; she now supplies herself in almost
every manufactured article she re-
ouires: and neither war or rebellion,
nor debt, nor soft money, nor hard
money, have been able to cause more
than a temporary arrangement OF her
prosperity. w.t.
This is the country that Mr.. Vivian
tells us, in his interesting notes on
America "has the curse of protection
upon 1t !" and he adds, with genu-
ina burst of free trade fanaticism,
"whers man interposes his short
sighted laws, the best provision OF Pro,
vidence is shackled and blighted.' -
Are VIZ to understand that America Is
sb ackled and blighted, or merely that
free trade has a Divine origin 7
We see what America is. What she
would bs if free trade had been her
destiny instead of protection, We can
easily rsalizs. There would be no IRON
works, No cotton worss, no glass works,
no paper factories, no teeming hiyes OF
industries. Every manufactured arti-
Gle would be imported from Europe.
Her iron and coal mines would still be
undeveloped. She would remain a
purely agricultural country, like Rus