How Protection Works in Austria.

Gisborne Standard and Cook County Gazette, Volume I, Issue 58, 25 October 1887, Page 3

How Protection Works in Austria.

Protectionists ideas have for a period of nearly ten years been in the ascendent in Austria (-ays a Home paper) and, instead of the period of general prosperity which was predicted when the system of autonomous tariff was initiated iu 1878, apprehensions are generally expressed of a commercial crisis. In a report drawn up by Air Phipps, Her Majesty’s Secretary of Embassy, the position is thus described :—“ The agriculturists, who could some yea's ago compete in the European rn.irke s, are becoming restrieted l» the d'ineslit! consumption ; the tariff war of a field where indust'ial products to the value of over £3 OOU.OOOsterling found a maikel and tho preepects for the conclusion of satisfactory treaties wilh Germany and I'a y are veiy unfavourable. The prices of corn have sunk loan unexampled extent; and whi e thi-e country h is revised its tariffs tin ee limes during tho period rcferied to, hard y a year pa-seel without Mime State with which Austria-Hungary i- in direct eomtnercial r lations ha ing submitted its own tariff to ft reel's on unfavourable to her interests. Tie railways, to a great extent in ti e hands of the Government. are paying r< duced dividends and the-ir traffic is re teicted ; and those who nine years ago were most clamorous for Protection are complaining that Austria is be ing reduced to the positi m of a State which consumes its own products, and which is an isolateel ami elose commercial

State.” Further signs of depression are seen in the diminished powers of consumption of the population, the depreciation of house property simultaneously with an incra-e in rent in conscqiicni'O of the enhanced burden of taxation.