New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-02-16
ECONOMIC CONTRASTS.

A comparison between the Australian colonies
of Victoria and New-South Wales affords Eng
lish Free Traders intense satisfaction. One has
adopted Protection as its economic policy anu
been only moderately prospectus, while the
other under Free Trade has made great progress
in wealth and industrial development. The
subject is One which has been repeatedly dis
cussed in London journals and in the political
reviews, the experience of the Two colonies
being regarded as an accurate test OF the re-
sneetive merits of the two economic systems
One of the latest references to the matter when
we have seen is in a volume of travel written by
Mr. Richard Tahgye successful birmingham
manufacturers His reflections upon the results
of the economic policy of the colonies nave
been eagerly accepted in England as a practical
demonstration of the superiority OF Free Trade.
His more cogent remarks have been reprinted
as an economic tract which has been circulated
bv the Peace Association, if not by the Golden
Club.
Mr.. Tangyc- shows that the revenues OF the
Free Trade colony of New South Wales have
increased during the decade 80 per cent; that
the imports are 80 per cent larger than they
were that there has been a corresponding IN
crease of 80 per cent in the export trade; tha1
the gain in population has been .53 per cent
that the excess of immigration over emigration
has ouadrupled; and the volume of business
and the material resources have been enOr-
mously increased. On the other hand, the rev.
enue of Victoria under system of Projection
has remained stationary, and the gainsln trade,
population, immigration and general business
have not been rs large as in New-SOnth Wales.
Il avid nI
no grounds his conclusion that Free Trade has
promoted the welfare of one colony, whereas
Protection has retarded the industrial develop
meft of the other.
Mr.. Tangye, like many other English writers
who have contrasted the economic experience
of the two colonies, has overlooked some char
acteristic differences in the natural resources.
Let this point be waived. Our present purpose
is simply TO extend the application of these
practical tests, which have convinced the
Birmingham manufacturer that Free Trade IS a
wiser policy than Protection. During the last
decade the revenues Of the United States have
enormously increased; there has been Il reduc-
ton of National indebtedness without parallel
in history; the export trade has rapidly ex-
handed and the volume of imports has not
diminished the census has shown an ex-
traordnary gain in population; the excess Of i'm
migration eremigration has steadily increased;
and vast Accommodations OF capital have resulted
from systematic development Of home
industries If a comparison be made between
the United States and Great Britain during that
period, it will be found that the latter has been
outstripped in the gains made in revenue, debt
having power volume of business, population,
immigration, reserves of capital and material
resources. IT, therefore, the argument based
upon these practical tests holds good with
reference to the Australian colonies, 1t is
equally cogent when applied to the economic
conditions of the United States and Great
Britain, and ought to convince the birmingham
manufacturer that American Protection Is
superior to English Free Trade.