Year: 1865

There is no historical fact better estab
lished than that the British government


more than two centuries ago, Instituted i
system of fprotection to the infant manufac.


turers Of England, and maintained it per.


sistently until very recent period. Sorig.


idly was the principle maintained for . lone


time that the importation of many fabrics


was absolutely interdicted, while skilled ar.
tisans were introduced from the continent AZ


heavy expense, i'm order that the several
branches Of industry in which they were
skilled might be established in England. and


her own people be instructed in them. This
was done, not in q few branches, but many.
and the policy was persisted in as long az Il


was needel to enable the English people C
compete successfully with those of Other
countries more adFEaced In both skill and


capital.


And this policy was eminently successful.
Under it the English people became at length
among the most skillful In the world in a


vast variety of aTocations. But this was not


all. 1t was necessary, in order to gain SUI
premacy which could not be rivaled, that


capital should accumulate to such an extent


that her prlneely manufacturers could COM


mand as much money as they wanted at


very low rates olinterest, often as low as
four per cent As for labor, the supply kept


pace with the demand; for, populous as


England was reckoned to be at the begin
ing OF the 18th century, its people quadru-
pied in number between that time and the
date at which the protective policy was re-
laxed, some twenty years ago.


had England adopted the policy of free
trade in the middle, or even towards the
close, of the last century she would have
been ruined. The competition of the conti-
mental countries would have borne deWn her
manufactures, for their growth was slow,
and she labored under many Disadvantages.
But, under her steady system Of protection
which no changes of party ever disturbed,
her coal and iron asserted their power;
her resources and the skill of her people
were developed; her agriculture foHrished
amazingly; all interests advanced In an ever
increasing ratio, until she became the most
opulent and powerful nation on the globe
Her manufactures built up and gave employ
ment to her commerce; her ships carried
away her various and valuable fabrics and
brought back raw materials to be worked up
and increased ten, twenty, fifty fold in value,
and then sent back, perhaps, to the very
places they came from Without her man
utactures what would the commerce of En-
gland have amounted to? Comparatively
nothing And without her long-continued
protective policy, what would her manufac-
turing industry amounted to ? Just about
as little. She could not have begun to man
ufacture


But now England is so rich, so strong, so
thoroughly established, that she can afford
to challenge the world to adopt the policy
of free trade, her statesmen well knowing
that no country can successfully compete
with her.


Now the. United States is in this reepeet,
relatively, just about where England vrn, al
the middle of the last century. We say rel
atively, for we are just about as able to dis
pense with protection now as she was then.
The day viii come, however, when we too
shall be able to challenge the world to a
game OF Tree traue S, We 5iis,, I,S,,.d~ 5lshi,,
not be half so long In reaching that period as
England was but we have not reached it
yet by long way.


There is an unerring criterion by which to
know when we may ssfely adopt the policy
of free trade with Europe, and that is, when
the average prices of 10th labor and capital
shall be the same there and here. The dis
parity between these prices here and there
mark the degree Of protection that this
country needs. So long as the European
can send his fabrics here at a
satisfactory profit to himself, just so long is
our tariff of duties too low for our own ma
tional prosperity.


England has set us an excellent example
in this matter; and we win show our sagaci-
ty BY doing as she did, and not as ahe now
breaches.