Year: 1870




the preceding seven years tho great influx
of gold and the market afforded by tho Cr-
mean war all helping; so that, taking TINS
luckest of all years for our point OF departure, 1t
gives Free Traders every advantage in the in
ferences drawn from the statistics which we
employ.


Let it be understood that the articles which
we have given in our tabular statement are
either tropical productions or raw material,
or both, scrap and pig iron excepted. More
than nine -tenths in value of the raw wool is
tropical or semi-tropical, and of a coarser grade
than we grow. The sugar and mOlasses are
almost all from the West Indies directly, and
perhaps all indirectly; the tobacco in the like
proportion; and the tea, coffee, and spices, from
the hot countries, of course. We have added
the scrap and pig iron to show that even OF
the heayily-protectcd articles which we our
selves produce the increased import for con-
sumption was no less than 70 per cent. in
value and SO per cent. in quantity, although
the duty upon them in 1860 was but "a per
cent, and in 1858, 49t per cent. Even here, we
have the cost of the total imports little more
than doubled QO5 per cent?, as the duties are
little moro than doubled Q07 per cent?,
while the quantity consumed is increased %
per cent, and the foreign price reduced 10 per
cent.


Now, what does all this meant How is it
that of commodities, whose aggregate invoice
price was sxty-eight and a quarter millions,
and charged, beside, with fraction less than
13 per cent. duty in 1860, we were able to Inn.
port and consume, in 1868, ninety three millions
worth with an added duty of 63t per cent;
and that in the matter of pig and scrap iron
we could increase the consumption SO per
cent. in quantity and 105 per cent in cost
We press the question again. How is it that
of the seven classes of foreign imports named
in our table, we could afford to consume, In
1868, nearly double the prime value Q97 per
cent? that we did under the Free-Trade Rev
enue Tariff of 1857 in the year 1907 The fig
uring financiers, who talk so glibly of fifty, q
hundred, and two hundred per cent duties,
have no answer in their arithmetic, we imag-
inc. And, if they look for one anywhere else,
it will tumble their whole theory into ruins.
The Protectionist understands and can safely
answer the paradox Of the cypherers. He will
| solve the problem by showing that money
prices do not measure the ability to consume
that high and low, by the standard of some
other time or conditions of things, mean moth
| ing here; and that the only way to make
commodities cheap to the consumer is to give
him enough work to do and good prices for
his labor. He will go further and prove, as
we have shown in the particulars cited, that the
true way to increase foreign commerce is to re-
| strict the imports which destroy home labor
and by such restriction increase demand
for the raw materials of foreign origin
which employ home labor proftably, and
for the luxuries which our own soil and
climate cannot produce. Moreover, the only
way to know anything about foreign COM
merce in its effects upon domestic well
fare is to look to its kind, not to its
price, or to its aggregate money value, and
then to elect the sorts of commodities for pur-
chase that will enable us to earn money, and
to have some to spare for luxuries that are
well earned, and can be afforded. Protection
is just as good for foreign trade Of the right
kind-the complementary kind-that supports
and rewards domestic industry, as it is for the
home labor and commerce, which is its pr
mary objective point. Look at the figures and
| the facts which they show, and remember that
| English commerce grew bravely under PrOtec-
| ton almost prOhibitOry.