Evening journal., 1888-07-31
HHAr IS FREE TRADEa

IT'S characteristic OF the English
language. more than of any other,
perhaps, that our words and phrases
come to have an accepted meaning
that is unlike, and some time even for
eign to their primitives. A derivatiye
analysis Of many Of our words VIII
show this in q marked degree. Par
ticularly is this so with compound
words. the derived word often having
n far different definition than the COM
bined meaning of the separate words
of which it is composed. In order, then,
10 oct az the true meaning OF a word
or phrase. we must study its character
and association and learn its true
meaning from authoritative sources,
1t will not do for US, therefore, in find
ing a proper definition for the com.
pound word free-trade, to assume that
because the word trade comes from the
French giraffe" which came to mean
transportation, or the Latin "tractare, "
which means to handle, aud because
theword free" springs from the Anglo
Saxon, and has come to mean exempt
from subsection, that combination OF
the two meanings viii give us def
milton for combination of the two
words. AS well say that the Free Soil
party was made up of theorists OF the
Henry George school and advocated
free soil for every one. What they
really did advocate was the nonexten-
sion of slavery. And 30 with the word
free trade. 1t has come to have a par
ticular commercial meaning, and this
meaning we shall try to give with the
aid of the best authorities.
In the first place, we find this defin-
itIon in websteI's dictionary: Com
merce unrestricted by tariff legisla-
ton" In other words, when Tariff is
low enough to admit of unrestricted
or unlimited commerce, then we have
free trade. Il is not necessary that
all tariff or customs duties should be
abolished to bring about free trade.
These duties must simply be so low as
not to restrict OF prohibit the entry Of
foreign products Of prices lower than
our own.
Now let us take Professor Summers
definition, and none will dispute his
authority. This pronounced opponent
of protection says; 1.-THE term free
trade. although much discussed, il
seldom rightly defined. It does moi
mean the abolition of custom houses,
nor does it mean the substitution OF
direct for indirect taxation, as q
few American disciples Of the
school have supposed. 1t means
such an adjustment Of taxes OF
imports as will cause no diversion o.
capital from any channel into which i
would otherwise flow into any chan
mel opened or favored by the legisla
ton which enacts the customs. 4
country may collect It's entire revenui
by duties on imports and yet bean en-
tirely free trade country so long as i
does not lay those duties ia such
way as to lead any one to undertake
any employment or make an invest
ment he would avoid in the absence
of such duties. Thus the custom dutie
levied by England, with very few ex
ceptions, are not inconsistent with he
professions Of being a country whicl
believes in free trade"
Next we give definition by one o
our foremost scholars, who is a stauncI
protectionist. Mr.. Charles A. Dana
He saws. "a free trader is revenu
reformer who proposes first Of ell Il
reduce the tariff duties on foreig
goods and to maintain the interna
revenue taxes untouched. The re
vision Of the tariff he would pu
through with the principle Of FIRE
trade with foreign nations uppermost
BY steadily pursuing this policy. q
strictly protective duties would b
swept away in the course Of about 9
wears and the country brought sub
stantially to internal taxation as il
permanent mode OF revenue. TIL
would be equivalent to free trade. TIL
man who claims to be a free trade
yet proposes before making any chang
in the tariff 10 first reduce the intern
revenue taxes, is a sort Of man v
have never seen, and Of his existen
there is as yet no evidence"
We could give scores Of such de
nitions of the best authorities, b
when the leading lexicon and one
the leading advocates Of Free. Tral
and Protection substantially agrC
why need we pile up the testimon
Weimay perhaps be pardoned, in co
clusion, in adding one more definitio
which is this: Free-Trade is tn
method of adjusting the duties viii
excludes the principles OF protectio
and which implies or favors the pr
manence of internal taxation as o
Of the sources Of the national revenl
Ttru fraa fradara loofr unon I