The Providence news. (Providence [R.I.]) 1891-1906, 1903-12-21
BY JOHN p. YOUNG.

The importance OF fostering domestic
industry has been made apparent to the
world by the experience of Great Brit
ain. It is not likely that we shall hear
much In the future from the economists
OF that country. who once taught that
the safest course for nation to pursue
is to throw its markets wide open to
foreigners. They further cannot con-
tend that their theory Is sound in the
face Of the breakdown OF the English
Free-Trade system.
If there had been any virtue In the
assumption that buying literally from
foreigners would tempt them TO buy in
return, the manufacturing industries OF
the United Kingdom. instead of contract
Ing their operations, as they have been
compelled to do. would be expanding
them The British people have bought
freely: they have drawn upon the food
stuffs and raw products OF this and other
countries. and have sought to induce
them To accept their manufactured prod
ucts in exchange. But progressive ma
tions have insisted on providing them
selves with the facilities for manufac-
turing. instead OF depending upon the
workshops OF Great Britain for their
supplies.
The result Is overproduction. The
hair splitting economist may proclaim
as loudly as he pleases that such a thing
as overproducing Is Impossible. but the
stubborn fact remains that the ma
chinery OF the world and the skilled men
who operate II manage TO turn out at
times more manufactured articles OF all
kinds than the world can profitably con-
sumo.
II Is because this II the case that the
twaddle about the markets of the word
being OF more consequence than the do
nestle market is no longer heard. Even
I'm England II Is now beginning TO be
seen that a is essential to the mainte-
nance OF the industries OF that country
that the domestic producer should be
protected against the encroachments OF
the foreigner
III the plans advocated by Colonial
Secretary Chamberlain and Premier Bal
four are carefully examined ~ will be
found that they carry the admission that
the free entrance OF foreign menufac-
tured goods into the United Kingdom ha,
seriously affected the domestic producer.
and that unless tariff which viii render
impossible the dumping process II re-
sorted TO the British manufactures will
have 10 go out OF business.
II Is noteworthy In this connection
that Britons who advocate a tariff to
prevent the evils OF dumping persist In
the belief that under a competitive sys.
tenn. conducted upon what they are
pleased to call fair lines. they could
hold their own against oil competitors.
They have not lost confidence I'm the en-
terprise OF their manufacturers and the
skin OF their workingmen. they simply
contend that they are the victims OF an
unfair competition. which takes the form
of selling goods. manufactured In the
United States and Germany. more cheap
~ In Great Britain than In the country
OF their production.
But ~ r. idle 10 assume that compe-
tion ~ this kind Il new or unfair. n
has been resorted 10 by British manu-.
facturers I'm the past. and is still prac-
ticed by them. 10 will be persisted in
80 long as opportunity offers. There is
only one way OF putting a period to the
vice. go far az ~ effects international