The Wairarapa Daily. FRIDAY, APRIL 5, 1889. Some Protectionist Figures.

Wairarapa Daily Times, Volume X, Issue 3172, 5 April 1889, Page 2

The Wairarapa Daily. FRIDAY, APRIL 5, 1889. Some Protectionist Figures.

An mstrjjc'ave'oomh.T.Lf,' On the quosiion of Freetrade versus Protection is furnished by the Victorian Trade Returns for 1888, which have j recently been issued. These returns have been freely disoussedj|by the Freetrade papers of Victoria and New South Wales, while they have been all but ignored by those publications which advocate the cause of Protection. It is, of course, well known that, according to the principles of Protection a state is not in a healthy financial condition if the imports exceed the exports, and that, the more the exports exceeds the imports the greater must be its prosperity. When we look at the Victorian figures we are inot very much surprised that those who hold the principles whioli we have just quoted do not care very much to discuss the subject, Briefly put, Victoria imported during the year 1888, goods to tho value of £28,972,134, while its exports during the same year amounted to only £18,853,768. leaving an excess of imports over exports—or in protectionist parlance, a trade deficit—of £10,118,371. In case it should be said that Victoria received the balance in gold and specie, it is shown that they aro included on both sides, Deducting them, the result will bo found to be even more striking, as it leaves a balance of imports over exports of ho less a sum than £12,798,503, In other words, the imports more than doubled the exports. We are not aware to what extent the imports may have been affected by the Centennial Exhibition which was held last year, and the foreign exhibits at which wore possibly included in the ordinary Customs returns, To avoid all misapprehension on the subject we may state that the gross protectionist deficit in 1887 was £7,671,000, and in 1880, £6735,254. If we include gold and specie these figures are also materially increased. Taking the three years together we find that, according to protectionists, the much-protected colony of-Viotoria has lost upwards of 24J millions during that period. It would be worth while to know how long it would take Victoria to ruin herself if she continued to show such a deficit. Of course, people possessed of the ordinary amount of common sense know very well that Victoria is not quite so badly off as all that, and protectionists themselves will probably bo anxious to got off their platform for a while in order to see how much of it is rotten. Whilst disagreeingwiththeprotectionisfc principle, we are nevertheless of opinion that the aspect of aftairs in Victoria is not at all satisfactory, So far! from proving its commercial independence, the colony has not only failed to put a large quantity of manufactured goods upon the markets of the world, but it has found it necessary to import quite as much per head of its population, .as any of the other colonies, with this j disadvantage to the consumer, that he has been compelled to purchase necessaries at a price which has been enormously increased hy the imposition of protective duties. When it is further considered that the Victorian labourer receives no more for his day's work than his brother in any of the colonies where tho tariff is not so high, ,the question might well be j asked where the benefit of Protection: becomes apparent in Victoria.