Excerpt from Blaine's Reply to Gladstone: Free Trade and Protection? From Remarks on Banking and Currency by Hon. James S. Sherman of New York, in the House of Representatives, Washington, D. C., June 8, 1896
With these fundamental points of difference between the two countries I assume that varied financial and industrial systems, wrought by the expe ricuce of each, would be the natural and logical result. Hence I do not join issue with Mr. Gladstone on both of his propositions. He defends free trade in Great Britain. He assails protection in the United States. The first propo sitiou I neither deny nor afiirm. Were I to assume that protection is in all countries and under all circumstances the wisest policy I should be guilty of an error similar to that which I think Mr. Gladstone commits. It might be diffi cult to prove that free trade is not the wisest financial policy for Great Brit ain. So far from guarding herself against material imported from other countries, her industrial system would wither and die if foreign products were withheld for even a brief period. She is in an especial degree dependent upon the products of other nations. Moreover, she does not feel bound to pay heed to the rate of wages which her labor may receive. That, like the fabrics which her labor creates, must take its chance in the markets of the world.
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