The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-31
MiscelInneon. Rocks.

THE Free-Trade Movement by G.
Armitage Smith is a little book which
contains great deal of interesting in.
formation. The author takes up this
| movement at the very beginning and fol.
lows il up to the present time. DISCUSSING
also its results. His views are of course
confined mainly to English affairs. since
he Is writing for an English public; but
he covers that field very thoroughly.
The beginning of the chapter on Pro-
lection contains two or three interesting
paragraphs, which are worth quoting as
showing the authors general argument
ana MS. style of writing. He says of this
system:
Regarded historically and In its or
lSln, protection is not the outcome of
deliberate policy, adopted after care
Inl weighing OF economic arguments.
IL grew out of the restrictions inciden-
tai 10 early forms of society. and The
restraints upon individuals inevitable
In the unsettled conditions existing
long prior to the modern Industrial
era; the Jealousy of States during the
period of their formation and consoIj-
dation, the growth of the sentiment of
nationality. the need for resources
ureasurel TO carry on war, and the
creation, by means of tariffs of class
es interested in the maintenance of
restraints upon commerce all heIped
to develop 1t. Facts came before
theory. and the principle of Protection
as beneticent institution was formu-
lated to explain and support the GUS
toms and practices Which had grown
up. Until late in the eighteenth CEN
fury Protection was scarcely question
ed as a guiding principle of states
men; objections were raised to special
restraints on commerce, or on free
dom of individual action, rather than
TO the general principle. The belief
hot II t..rs
ests of communities sustained the pro-
tective doctrine until Adam Smith
changed the standpoint by maintain
Ing that the enlightened pursuit of in
dividual interests harnnoniZed with
the national well-being.
In modern times the defence of pro-
lection is undertaken either upon eco
nomic. or. more broadly, upon politi-
cal grounds. Protection is advocated
either as promoting some existing
branch Of national industry and SO Sc
curing employment for laborers: or as
fostering some new trade, which is ex-
pected ultimately to be a source of
wealth. although 1t may involve a tenn
pordry loss to consumers and tax
payers; or, it is demanded upon patri-
otto grounds, necessary to make
the nation independent OF foreigners.
that II may be Self-supporting in the
event of war. Both lines of defence
are open to the charge that they are
based upon imperfect observation of
that the conclusions deduced are
equally fallacious. In examining more
at length some of the current argu-
ments for Protection. we shall find
that they do not form a harmonious
system, that some of them contradict
others, and that nobody can consis-
tently uphold them all. For example
il is urged that a protective tariff will
support the home industry by eXclud-
ing the foreign article and yet raise
revenue; that it will keep up prices,
benefit the laboring classes, whose
real wages Ii would by that means re-
duce; that II will prevent fluctuations
I'm trade and prices. by excluding for
eign competition, although it thereby
creates a monopoly, which is a fire.
auent cause of fluctuations and high
prices; that while 1t is desirable To
encourage invention In the interests
of cheapness, it is also beneficial to
keep mp prices by tariffs. These and
other paradOXes appear on a survey
of the different arguments in favor of
IrotectiCn.'
The last chapter in the book that on |
Federation. is most interesting, |
nd should receive the attention of every |
tudcnt of the economic problems of the |
ay, since it deals with a problem which
n different form, is also confronting
he United States. and whose solution.
a any form. must affect the general com
lerciai condition of the world Chicago.
herbert $. Stone & co. $1.25J
Women of the Bible is "A sumptuously
,ound and Illustrated book. containing
from twelve eminent clergy
men, namely. Or. John w Chadwick |
Rabbi Gustav Gottheil, DIR. Lyman Alb
ott, Dr. Henry Van Dyke, DR. w. II. Z.
'aunce. Prof. Richard Green Moulton, |
bishop Hurst, DR.. Edward b Coe. Bishop
,oane, DR.. Newell Dwight Hills, Bishop
otter, and Cardinal Gibbons The Bibli-
al characters successfully discussed are
we. Sarah. Rebekah, Miriam, Deborah.
uth. Hannah, Jezebel. Esther. Mary
Iaedalen. Mary and Martha. and the
'irgin Mary.
The style of each chapter necessarily
aries with the spirit OF the commenta-
,r. but Il may he said that the selection |
the biographer chosen for each heroine
as been extremely wise. The poetic
an Dyke, the sympathetic DIR. Abbott,