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Waikato Times, Volume XXXVII, Issue 3010, 29 October 1891, Page 2

We have clout; our best at times to point out tlio fallacy of adopting a protective policy as a means of National advancement. That protection for any particular industry, frwjHcntly causes a temporary boom in connection with it is not questioned ; but even then it is a case of taking from the many and giving to the few. The famous McKinley tai'ili'which wasimpo.sed intheUnited States, was an instance of how far protection could go, but tho following proves that even that desperate effort to control the home markets hascompletely failed :—" It is clear, from the report issued by the Bureau of Statistics of tho United States Treasury, that the McKinley tariff has failed altogether to keep out the manufactures of Europe, the imports between October G, 1890, and Juno 30, 1801, being thirty-ono millions of dollars in excess of those of tho corresponding period of tho preceding year. Thus the only effect of the enormous, and as was hoped crushing, impost placed by the protectionist party in the United States upon goods manufactured abroad, has been to transfer a vast sum from the pockets of American consumers into those of Americas manufacturer. That this was the main object of the tariff no one doubted ; but its introducers and supporters took up lofty patriotic ground, and insisted that it was designed solely to benefit American workmen at the expense of foreigners by keeping out European manufactures, and so adding enormously to the demand for the productions of the States. That such would, to some extent, be the case was, indeed, generally believed by friend as well as foe, and the fact that importations have actually risen will excite general surprise. The tariff can hardly long survive this expose of the results of its action.