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The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. THURSDAY, DECEMBER 29, 1881.

Eably in the serenteenth century England began to make settlements in the American Archipelago. Two hundred years ago the new settlements had attained prosperous times. " They send," we are told, "their own commodities directly to all parts of the world where they thought they would sell best, and indiscriminately admitted ships of all nations into their ports. This unlimited freedom must of course throw almost all their trade into the hands of that nation, which in consequence of the low interest their money bears, the largeness of their stock, the number of their ships, and the reasonableness of their duties of import and export could afford to make the best terms to buy at the cheapest and sell at the dearest rate. These people were the Dutch. They soon seized upon the profits of so many productions, which they had neither planted nor gathered. Ten of their ships were seen in the harbors of the British Islands for one English yessel." More than a, hundred years hare elapsed since the celebrated Abbe Eaynal wrote the above quotation, and the question which ihen perplexed the mind of the philosophical historian is the most fiercely contested at the present day. The London Times not long since remarked with wonder and regret, "we shall hare to fight the battle of Free. Trade orer again," and men are beginning to awake to the fact that there are better things which can happen to the English Colonies than a knowledge that England at the present time, like the Dutch long since, ha?e obtained almost a monopoly of the sea-carrying trade of the world. A hundred years later than the time mentioned by the Abbe, America left the English Crown on a matter of taxation. It was a protest for Free Trade after a manner in accordance with the light of

the people. A hundred years later America has taken another course of action, and her people at the present time are the most zealous of all the Protectionists of the Anglo* Saxon race. American statesmen have distinct reasons for their policy of protection, which they have not hesitated to place on record. Roughly described they are as follows =—

1. No country without manufactures, which exports raw products for foreign made goods, and the inhabitants of which are chiefly engaged in agriculture, have succeeded in obtaining wealth, prosperity, and power, as a nation. 2. A Protective Tariff has been the essential agent in the development of the manufacturing industries of the United States, and has been the means by which the American manufacturer has been enabled to compete successfully in the open markets of the world. 3. The working classes in the United States, uuder a system of Protective, enjoy a greater degree of prosperity than the working classes of England under a system of Free Trade.

Those who have witnessed or thought out the vast expansion of American commerce during the last ton years can alone have an idea of the change that has been made :a the exports and the imports of the United States. An idea may be gained of her present trade when it is remembered that the United States sells to foreign nations productions of double the value she annually purchases. Yet Professor Fawcett tells his readers:—" If the goods which America sends to England exceed in value those which she receives from England, it is evidence that America is in debt to England." It is doubtful whether the Professor's statement would obtain the credence of any intelligent artizan in the world. The most important result which has arisen from this pro* tective policy in America has been, however, overlooked. The balance of trade being in favour of America, the metallic purchasing power of the world seems slowly but surely gravitating thither. Very few people have an idea how gold has been collected in the States under a protective policy. So important is this matter in the mind of Mr Gibbs, an English political economist, that he has not scrupled to assert "The question is being gradually narrowed to a monetary struggle between America and Europe." America goes on increasing her Custom Duties, hoarding all the gold she can obtain from every quarter of the globe, and paying off in huge instalments her funded debt. Other countries clamour for free trade, increase of their debts, and a recklessness in the mode they allow the gold they are fortunate enough to produce to be distributed. The remainder of this century will shew some painful ex* periences of the working out of this problem. '. '-•"•■

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/THS18811229.2.6

Bibliographic details
Ngā taipitopito pukapuka

Thames Star, Volume XII, Issue 4056, 29 December 1881, Page 2

Word count
Tapeke kupu
774

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. THURSDAY, DECEMBER 29, 1881. Thames Star, Volume XII, Issue 4056, 29 December 1881, Page 2

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. THURSDAY, DECEMBER 29, 1881. Thames Star, Volume XII, Issue 4056, 29 December 1881, Page 2

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