The Arguments on Either Side of the Fiscal; Question Protection, Retaliation, Preference
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 18 edition. Excerpt: ...or raw material, for there are no manufactures to penalise. Similarly, the United States, only second to Russia in the severity of its protection tariff, hits, for instance, our linen and our woollen manufactures very hard; but we import no linen or woollen stuffs from America, and so some other American industry, other than the woollen or linen industry, must be singled out for attack. This would have to be food-stuffs, or raw materials, for we import only a small amount of manufactured articles from the United States. See Appendix III., No. 13. required no assistance) would continue to benefit, while the other trade (that required assistance) would continue to suffer.--(d) That if the policy were successful, and the retaliatory duties thereupon relinquished, the latter trade would at last benefit; but the former, by losing its protection, would now itself be injured. 11. (a) That the industries that, in the long run, would suffer most, if the policy of retaliation were successful, would be just those which had been picked out for experimental protection. The imposition of heavy import duties would protect the particular home trade, and by so doing, would foster an increased output at home.--(b) That sooner or later, the retaliatory policy would be successful in inducing the foreign nation to come to terms, and to reduce her duties. The retaliatory duty must then be taken off and the foreign goods are again freely imported, in competition with the home industry. The artificial inflation in prices and production in the home industries, created and stimulated by the retaliatory-protective duties, would disappear; the industry would be adversely affected, and capital and labour would suffer. It cannot be a sound fiscal policy to foster or...
- 189 x 246 x 1mm | 68g
- 13 Sep 2013
- United States
- black & white illustrations