i-.li : ' 
 
 m 

 
 \r/
 
 ^■^
 
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 *'7i-'4. 
 
 Free Trade 
 
 versus 
 
 Fair Trade. 
 
 BY 
 
 Sir T. H. FARRER, Bart. 
 
 CASSELL & COMPANY, Limited 
 
 LONDON, PARIS, NEW YORK cC MELBOURNE. 
 1S85.
 
 
 PREFACE TO FIRST EDITION. 
 
 For the following pages I am alone responsible. 
 
 They contain an attempt to illustrate estabHshed 
 ^ truths, and to expose exploded though not obsolete 
 0^ fallacies ; but they trench so closcK' on the politics 
 OQ of the day that I should have scarce!)' felt justified 
 
 in writing them for publication ^\•it]l()ut the cncourage- 
 ^ ment of the President of the Board of Trade. 
 
 0) 
 
 JI For the Tables appended. I am indebted to Mr. 
 
 E. J. Pearson and Mr. Ci. II. Simmonds, of the 
 
 ej Statistical Department of the I^oard of Trade. The}' 
 
 Q will be found to contain useful and interesting 
 
 ■a; 
 
 ac information, whatever may be thought of the in- 
 ferences I have drawn from them. Those who have 
 had much to do with statistics will know how difficult 
 it is to use them properly, and how eas)' and how 
 mischievous it is to use them carelessly and impro- 
 perly. 
 
 T. H. FARRER, 
 
 Board of Trade, 
 
 Dicimbir, 1881. 
 
 42:?r^(>fs
 
 PREFACE TO SECOND EDITION. 
 
 In revising this work and the annexed Tables, I have 
 carried the figures down to date, excepting in Tables 
 VIII. , IX., X., and XI., which relate to a temporary and 
 special subject ; in Tables XIII. and XIV., which give the 
 rates of Import duties levied abroad on our principal 
 manufactures ; and in Tables XVIII., XIX., and XX., 
 which contain an analysis of the Exports of France, 
 Germany, and the United States into food, raw ma- 
 terial, and manufactures. These five Tables involve 
 great labour, and to complete them to the present time 
 would not be worth while. 
 
 I have added two Tables to the Appendix, the one, 
 XXL, relating to the Trade of the Australian Colonies 
 and Canada during the last decade ; and another, XXII., 
 containing an epitome of the various statistics of the 
 United Kingdom, which are generally appealed to as evi- 
 dence of the condition of its population and industries. 
 Such an epitome I have often wanted myself, and hope 
 that it may be found generally useful. For these Tables, 
 and for the figures and statistics generally, I am indebted 
 to Mr. Bateman, Mr. Simmonds, and Mr. Stanley, of the 
 Commercial Department of the Board of Trade. 
 
 I have also added observations on various topics, 
 suggested by recent circumstances ; among which may
 
 PREFACE. 
 
 be mentioned Chapter XX., on the question, Whether 
 English taxes on our own industries can be connpensated 
 by duties on foreign goods ; Chapter XXII., on Invest- 
 ment of Capital abroad; Chapter XXXII., on present 
 depression in England ; Chapter XXXIII., on present 
 depression in America ; various illustrations of the diverse 
 effects of Freedom and Protection in particular cases in 
 Chapter XXXV ; and a Chapter on Sugar, XXXVI. 
 
 I have also tried to eliminate everything of a per- 
 sonal or party character. There has been much Fair 
 Trade literature since the date of my first Edition, 
 but it has not essentially altered the position. I have 
 read it to the best of my ability, and it must not be 
 thought that I have neglected its contents because I 
 have not attempted to criticise them in detail. A 
 straightforward statement of the reasons which make 
 me think the Fair Trade proposals inadmissible is more 
 likely to be readable and effective than a detailed 
 exposure of arguments which seem to me fallacious, 
 or of statements which seem to me incomplete or 
 
 inaccurate. 
 
 T. H. FARRER. 
 
 \st June, 18S5.
 
 CONTENTS 
 
 Prcltmtnnvp. 
 
 c H A P T E K I . P 
 
 Difficulty of Knowing what to Answer .... 
 
 Recognised principles of Free Trade — Vagueness of attacks on these 
 principles — Allegations of national decay — Recent Protectionist 
 utterances — Alleged demoralisation of manufacture by foreign 
 competition — Josiah Wedgwood and Sir Stafford Northcote 
 upon this point — Reaction against Free Trade principles — Pious 
 opinions — Questions deserving an answer. 
 
 CHAPTER II. 
 
 Proposals of the Fair Trade League 
 
 Programme of League — Mr. Sampson Lloyd's letters — Mr. Farrer 
 Ecroyd's resolution — The vagueness of proposals of Fair Trade 
 League — Two great principles — i. Encouragement of colonial 
 trade — 2. Retaliation on foreigners — Assumed national decay 
 — These assumptions answered already — Statistics of condition 
 of England since 1840 (Reference to Table XXII. in Appendix). 
 
 Part I. — Jl^cto Colonial jpoltri?. 
 
 CHAPTER HI. 
 
 General Character of this Policy 
 
 A great national policy — Imperialism — .Suspicious character of this 
 policy. 
 
 CHAPTER IV. 
 
 Assumption that our Colonial Trade is more steadily 
 increasing and less fluctuatinc; than our Trade with 
 
 Foreign Countries 
 
 .Superior growth and steadiness of colonial trade assumed — Fair Trade 
 allegations of superior growth and profit of colonial trade —
 
 VIU CONTENTS. 
 
 PAGE 
 
 Absurdity of their reasoning — Their evidence of the alleged 
 fact — Customs Report of 1881 — Customs statement incomplete 
 and misused — Mr. Forster's speech on Colonial Trade — Exports 
 to colonies and foreign countries since 1840 — Trade with colonies 
 and foreign countries in each of the last 25 years, as a whole — 
 Trade with each foreign country and each colony for each of last 
 18 years — Exports to each foreign country and each colony for 
 18 years— Observations on our trade with each foreign country 
 and colony— Germany and Holland: Effectsof French indemnity: 
 Sugar, and how it is paid for — Belgium — France — Italy — Turkey 
 — Egypt — United States— Brazil — Chili and Peru — China — 
 Japan — British North America — West Indies — Australia — South 
 Africa — India: Circuitous trade of England with the East, 
 America, and other foreign countries : Effects of Suez Canal — 
 Tables of colonial imports and exports — Colonial trade does not 
 increase more or fluctuate less than foreign trade ; the two are 
 intimately connected ; are similar ; and are similarly influenced 
 by many local and temporary causes — Reference to Tables in 
 Appendix as to trade of colonies — Conclusions respecting com- 
 parison between colonial and foreign. trade. 
 
 CHAPTER V. 
 
 Protection in Foreign Countries 40 
 
 Assumption that colonies have less tendency to Protection than 
 foreign counti-ies— Returns of duties, 1859 and 1S79 — Lord 
 Sandon's return — Rates of duty in foreign countries — Russia— 
 — Germany — Holland — Belgium — France — Denmark — Sweden 
 and Norway — Italy — Austro-Hungary — Spain — Portugal — 
 United States. 
 
 CHAPTER VI. 
 
 Protection in the Colonies 45 
 
 Colonial tariffs — New South Wales — Victoria — South Australia 
 — Western Australia — Tasmania — New Zealand — Queensland — 
 Canada — Cape — West Indies — Mauritius — Ceylon — India — 
 Conclusion that Protective tendencies are as strong in colonies 
 as in foreign countries. 
 
 CHAPTER VII. 
 Is A Customs Union of the British Empire possible?. . 50 
 Assumptions of Fair Traders no ground for new colonial policy — 
 But is a new colonial policy desirable on other grounds ? — Cus- 
 toms Union of the British Empire a dream — Self-government 
 involves freedom, and therefore diversity of taxation. 
 
 CHAPTER VIII. 
 
 Proposals of the Fair Traders for encouraging Colonial 
 Trade are Proposals to restrict Trade . . . .53 
 Fair Trade proposals for differential duties in favour of colonies — 
 They are proposals to restrict and diminish trade.
 
 CONTENTS. IX 
 
 CHAPTER IX. 'ACB 
 
 Proposed Tax on Food 54 
 
 Differential Tax on food the keystone of the Fair Trade proposals — 
 Where does our imported food come from ? — Four-fifths from 
 foreign countries and one- fifth from colonies. 
 
 CHAPTER X. 
 
 Why is a Tax on Food Objectionable? 5^ 
 
 Tax on food will raise price of food, but this is not all — Effects of 
 a tax on food— It will raise rents — It will also diminish pro- 
 duction here and abroad — Fair Trade answers to this — Incon- 
 sistency of these answers — A tax on food will raise its price — 
 Cobden quoted as an authority for raising price of food ! — Effect 
 of raising price of food on our workmen at home and on their 
 expenditure. 
 
 CHAPTER XI. 
 
 Fallacy of supposing that Colonial Markets will com- 
 pensate us 60 
 
 Dealings with colonists are not more profitable than dealings with 
 foreigners — The price paid in goods for a quarter of corn sold 
 in England is the price in the English market, and it is the same 
 wherever the corn comes from — Confusion between individual 
 commercial dealings and International treaties or arrangements. 
 
 CHAPTER XII. 
 
 Effects of an English Tax on American Corn on American 
 competition with English Manufactures . . .63 
 Tax on American agriculture would drive America into manufac- 
 turing competition. 
 
 CHAPTER XIII. 
 
 Objection that we are paying for American Corn by re- 
 ceiving back Principal of Investments . . . .64 
 If America owes us money she must repay, or pay interest, whether 
 we buy her corn or not — Absurdity of supposing that interest on 
 foreign investments supplies luxuries to the rich — Interest on 
 foreign investments comes home as food or raw material — The 
 recent depression has hit the rich and spared the poor — 
 Transfer of trade to colonies will not prevent investments abroad. 
 
 CHAPTER XIV. 
 
 Tariff Bargains with the Colonies. Are they possible? 6S 
 To make such bargains we must first impose dutieson ourselves, which 
 is out of the question — But if we did, what should we have to
 
 X CONTENTS. 
 
 PAGE 
 
 give? — What should we get in return ? -Recent proposals of 
 Imperialist Reformers —Their absurdity — What would the 
 colonies get ? — What would they give ? — What would be the 
 position of the colonies when the bargain is made ? — Ultimate 
 results of such bargains — Any forced attempt at union must lead 
 to disunion. 
 
 CHAPTER XV. 
 
 Commercial Treaties with the Colonies, are they 
 
 possible 74 
 
 Can we make commercial treaties with colonies, such as the 
 French Treaty ?— Narrow limits within which such treaties 
 would be applicable — No reason against such treaties in 
 existing Imperial relations, for the self-governing colonies are 
 independent— But are there any duties on colonial produce 
 which we could give up ? — Statement of the quantities and values 
 of articles exported from India and the colonies upon which 
 customs duties are levied in this country — Wine, the only article 
 that affords any scope for alteration of duty — We have nothing 
 to give — " Most favoured Nation " Clause — Difficulty in apply- 
 ing to colonies. , 
 
 Conclusions of Part I. as to new Colonial Policy . . 8i 
 The English Government can do little or nothing to extend colonial 
 trade — Governments can check but cannot create trade. 
 
 Part II.— Ectaliation. 
 
 CHAPTER XVI. 
 
 Retaliation on Manufactured Goods Absurd . . .82 
 English Retaliation on foreign manufactures impotent and 
 suicidal. 
 
 CHAPTER XVII. 
 
 Proposal to Tax Manufacturers and leave '• Raw 
 
 Material" I-'ree— Difficulty of the Distinction . . 83 
 
 Is the received policy of distinguishing between raw materials and 
 
 manufactures well founded ? — Impossibility of distinguishing 
 
 between them— Mr. Sampson Lloyd's letters — New definition 
 
 of raw material as an article which cannot be produced at home ! 
 
 CHAPTER XVIII. 
 
 (Ji)iKR Proposals for Retaliation 86 
 
 Arguments in favour of Retaliation — Lord Salisbury at Newcastle 
 in 1881 — His argument derives its strength from commercial 
 treaties — " X," in the Pall Mall Gazette — More reckless advo- 
 cates of Retaliation — Misrepresentation of the origin ot the
 
 CONTENTS. 
 
 policy of fighting hostile tariffs by free imports — Debates of 
 1843 and 1844 — Our interest is to abolish our own Protective 
 rfuties, whether other nations reduce theirs or not — Origin of 
 our present policy. 
 
 CHAPTER XIX. 
 
 Hostile Tariffs must hf, met by Free Imports. Statement 
 
 OF THE Principle 92 
 
 Fallacies in the arguments of Lord Salisbury and others — Protective 
 tariffs impediments not barriers — Position of a Free Trade 
 country in the midst of Protectionist countries — Effect of 
 Protective duties as between two countries only — Effect of 
 Protective duties as between three or more countries — Abstract 
 illustration — Concrete illustration — The nation which remains 
 free will get the largest share of the Trade. 
 
 CHAPTER XX. 
 
 First Ohjeciion to the Principle — Home Taxation . . 99 
 Are our producers to be compensated for the taxes they pay ? — Mr. 
 Sampson Lloyd's taxed bullock — Taxation should be fair as 
 between different classes — But foreign producer pays direct taxes 
 no less than ours, and is burdened with heavier charges of other 
 kinds — Compensating taxation impracticable — The suggestion 
 is absurd in principle. 
 
 CHAPTER XXL 
 
 Second Objection to the Principle — Excess of Imports 
 Alleged effect of imports — Fair Trade ploughs, gratis ! — Fair Trade 
 notion, that imports injure Englishmen as producers — Fallacy 
 of distinction between producer and consumer — Largest imports 
 cause largest production — The fear of growing imports — Imjicr- 
 feclion of statistics as statement of Balance of Trade— Excess of 
 imports — Estimate of foreign investments— Outgoings <in 
 ships — Cobden's illustration of excess of imports and drain of 
 gold. 
 
 CHAPTER XXII. 
 
 Third Objection — Investment of English Capital Abroad ioS 
 Fair Trade objections to our foreign investments — Interest of our 
 working men — i. In the imports which are the returns from 
 these investments — 2. In the exports by which the investments 
 are made — Certain advantages to working men — Possible dis- 
 advantages to working men — Balance of advantages — Draw- 
 backs to foreign investments.
 
 Xll CONTENTS. 
 
 CHAPTER XXIII. PAGE 
 
 Illustration of Principle: English Trade before i860 . 112 
 Statistics of English Trade before i860. 
 
 CHAPTER XXIV. 
 
 English Trade since i860 113 
 
 Alleged changes of circumstances since i860 — The world not so 
 Protective as it was — Human laws only one factor in the great 
 result. 
 
 CHAPTER XXV. 
 
 What Free Trade means, and what it cannot do . • 115 
 Free Trade cannot create ; it can only leave Nature and man free — 
 True test of Free Trade. 
 
 CHAPTER XXVI. 
 
 Relation of the Prosperity of other Nations to our own 116 
 Our trade can only grow by making the trade of other nations 
 grow too — Folly of supposing our wealth to consist in the 
 poverty of others — Competition. 
 
 CHAPTER XXVII. 
 
 Statistics of English Trade compared with Trade of 
 
 other Nations iiS 
 
 Comparison with other nations — Increase of our trade means 
 increase of foreigner's trade — Manufactures the thing for us 
 to compare — Our statistics of export do not include freight — ■ 
 We cannot keep all manufactures — We supplement trade 
 which we lose by new inventions — Distinction between food, 
 raw materials, and manufactures. Its necessary inaccuracy — 
 Exports of the United Kingdom in 1870, 18S0, and 1883, 
 analysed into food, raw materials, and manufactures. 
 
 CHAPTER XXVIII. 
 
 Statistics of French, German, and United States Trade 
 
 in Recent Years 121 
 
 Imports and exports from and to France before and since treaty — 
 Exports from France in 1S69 and 1879 — Duties imposed by 
 France on articles used in manufacture — Exports from Germany 
 in 1869 and 1879 — Exports of United States in 1870 and 1880 
 — Exports of United States and United Kingdom in each 
 decade since 1840 — Growth of population in the two countries 
 — Comparison of exports per head — Causes of United States' 
 prosperity — Nature of their exports.
 
 CONTENTS. xm 
 
 CHAPTER XXIX. page 
 
 Trade of Canada and Australia 127' 
 
 Trade of Canada since new Canadian tariff — Comparison of growth 
 of trade, &c., in Victoria and New South Wales. 
 
 CHAPTER XXX. 
 
 Agricultural Depression ; Effect of Bad Harvests . . 130 
 Losses of Farmers due to four causes : i, Rise of rents ; 2, Rise of 
 wages ; 3, Lowered prices ; 4, Deficient production — First 
 three a loss to the landed interest, not to the whole com- 
 munity—What is the effect of deficient harvests on entire 
 community ? 
 
 CHAPTER XXXL 
 
 Commercial Depression between 1872 and 1880 . . .133 
 Burden of proof lies on those who call for change of our policy — 
 Commercial depression subsequent to 1873 — Exaggeration of 
 prosperity of 1872-73 — Statistics founded on price misleading — 
 Prices of raw material — -Temporary causes of inflation — Large 
 exports and high prices not necessarily tests of prosperity — 
 Appreciation of gold — Change in mode of doing business. 
 
 CHAPTER XXXIL 
 
 Depression at the Present Moment at Home , . . 137 
 Since 1880 there has been revival and subsequent depression — 
 Causes : i, Agricultural depression continued ; 2, Boom and 
 subsequent collapse in shipping ; 3, Boom and collapse in 
 United States' railways ; 4, Consequent revival and sub- 
 sequent depression in iron trade ; 5, Glut of corn ; 6, Wars and 
 Protective tariffs — Extent of depression : Statistics for 1879 to 
 1884 of Shipping — Railways — Production of coal and iron — 
 Cotton — Wool — Consumption of sugar, tea, Sec. — Pauperism 
 — Savings Banks. 
 
 CHAPTER XXXHL 
 
 Depression at the Present Moment in the United States 
 
 compared 144 
 
 Depression in the United States — Mr. Forwood — Mr. Mc. Culloch's 
 Report on the glut in manufactures in the United States — Agri- 
 culture in the United States — Railways in the United States — 
 Bankruptcies in the United States — And in England— Clearing 
 House business in the United States and in England — Emigra- 
 tion to the United States — Employment of laljour in United 
 States — Bradstrect'' s inquiry and report — General reduction in 
 wages — Employment of labour — Protected industries have 
 suffered most — Steel and iron have suffered most of all — These 
 facts illustrate the effect of Protection.
 
 XIV CONTENTS. 
 
 CHAPTER XXXIV. page 
 
 Shipping 156 
 
 Shipping of the United Kingdom — French shipping — United Stales 
 shipping — Early promise of United States shipping — De 
 Tocqueville's prophecy — Present state of American as compared 
 with British shipping — Shipping as compared with railway 
 interest — Present depression. 
 
 CHAPTER XXXV. 
 
 Special Instances of the Effects of Free Trade and of 
 
 Protective Duties on Production — Leather, Salt, Silk, 
 
 Clocks, Woollens, Steel Rails, Copper, Biscuits, Wire 164 
 
 Leather, increase of manufactures of — Free importation of foreign 
 
 hides — Leather, tanning and manufactures of — Salt, French 
 
 duty on^ — Silk ; French duty on cotton yarns — Clocks in 
 
 England and United States — Woollens in United States — Steel 
 
 rails in United States — Copper in United States — Biscuits — 
 
 Wire. 
 
 CHAPTER XXXVI. 
 
 Sugar 177 
 
 Importance of sugar politically and economically — Enormous and 
 increasing supply — The supply is both of cane and beet sugar — 
 Raised in all countries and climates — England's share as com- 
 ' pai'ed with other countries- -Share of the United States, France, 
 and Germany — It is food — It gives employment — It is also raw 
 material — These residts obtained by free importation — Taxation 
 on sugar — Drawback on exportation — Difficulties of European 
 Governments — -Reduction and final repeal in England of sugar 
 duties — Results — German tax and drawback— Austro-Hungary 
 — France — Belgium — Holland — United States — Brazil — New 
 Zealand — General action of Foreign Governments — Imports of 
 sugar from, and exports of manufactures to Germany, Holland, 
 and Belgium — Importunities of sugar refiners and West Indian 
 planters — Refiners' case — Case of West Indian planters— Causes 
 of growth of beet sugar — Restriction of the market impossible 
 — Is cane being supplanted by beet? — Planter's interest and 
 colonial interest not identical — West Indian sugar a compara- 
 tively small interest — They have no case for change of our 
 fiscal system — Remedies suggested — What are bounties? — What 
 are the retaliatory duties to be ? — " Most-favoured-Nation " 
 clause — Bad effect of retaliation abroad — Effect of duty on 
 price— Conclusion as to sugar. 
 
 CHAPTER XXXVII. 
 
 Consequences of Retaliation, if Practicakle . . . 192 
 Englishmen must buy dearer and worse goods — Sale of English 
 goods would be diminished — Materials would be scarcer
 
 CONTENTS. XV 
 
 VAC.K 
 
 dearer — We should lose the stimulus of competition — Last 
 state of Protected interests worse than the first — Confusion at 
 the Custom House — Expenses of collection — Political degra- 
 dation. 
 
 CHAPTER XXX Vn I. 
 
 Retaliation of French Silks and French Wines . . 195 
 
 Retaliation in the case of silk — Silk would be worse and dearer in 
 England — Fewer English goods will be made and sold in ex- 
 change — Silk manufacture in England will not be stimulated by 
 competition — A weak manufacture will be fostered — And this 
 weak interest will hereafter be deserted — The Custom House 
 w\\\ have to distinguish the country of origin of all imported 
 silk — Retaliation on wine. 
 
 CHAPTER XXXIX. 
 
 Protection for the Purpose of Checkinc a too Exclusive 
 
 Development of Agriculture 197 
 
 Retaliation where Protection is adopted to check exclusive 
 a<jriculture. 
 
 CHAPTER XI,. 
 
 Retaliation does not only not Effect its Objecj', but has 
 
 a Contrary Effect 19S 
 
 Retaliation will provoke Retaliation — It shows mistrust in our own 
 principles — It arouses antagonism— Strength of Protected 
 interests — Experience in France — Recent French duties on 
 animals and corn — Experience in the United States — Protec- 
 tionist countries get no better terms than we do — Failure of 
 early Reciprocity negotiations — Dr. Franklin — United States 
 and Canada Reciprocity Treaty. 
 
 CHAPTER XLI. 
 
 The French Treaty of i860 204 
 
 Cobden's Treaty gives no countenance to Retaliation — We did 
 nothing we should not have done without a Treaty — Wine the 
 sole exception, if an exception — Danger of Retaliation illus- 
 trated by the present state of things — Cobden's Treaty not to be 
 judged by economical results alone — " Most Favoured Nation " 
 clause — Actual consequences of the Treaties — Result of Treaties 
 on action of Foreign nations not altogether successful — Cobden's 
 views — Real objection to the Treaties that they lead to Retalia- 
 tion,
 
 XVI CONTENTS. 
 
 PAGE 
 
 Conclusions of Part II. as to Retaliation .... 209 
 Retaliation is, i. Impotent. 2. Uncalled for. 3, Mischievous — 
 Summary of Free Trade doctrine— Each man knows how to 
 buy and sell better than his Government — Every one who buys 
 sells at the same time — Buying and selling between different 
 countries do not differ from buying and selling at home. 
 
 Final Conclusions 211 
 
 New Colonial policy. Object may be good : Means are bad — Go- 
 vernments can check but not create trade — Retaliation bad in 
 spirit as in effect — Hopeful tendencies. 
 
 Appendix, with Tables of Statistics 213 
 
 For list and description of these Tables see Appendix . . 213 — 268 
 
 Index 269
 
 FREE TRADE .. FAIR TRADE. 
 
 CHAPTER I . 
 
 DIFFICULTY OF KNOWING WHAT TO ANSWER. 
 
 When I was asked in 1880 by the president of the Cobden Recognised 
 Club to write something in defence of Free Trade, it seemed to P"nc'i les. 
 me^ — recollecting as I did the instruction in politics which I had 
 received from the Corn Law Controversy — as if I had been 
 asked to prove Euclid, or give a reason for the rules of 
 Grammar. That governments can by protective or proliibitory 
 duties prevent and diminish, but cannot create or increase 
 trade ; that every tax on trade is a diminution of the produce 
 of industry, felt most certainly and probably most severely by 
 the country which imposes it; that it is just as unwise and 
 unrighteous to prevent the number of men who make up a 
 nation from buying their food and their clothes where they can 
 get them best and cheapest as it would be to compel me to 
 buy my bread from the nearest farmer or my coat from the 
 nearest tailor ; that a law which prevents the people of England 
 from buying in France or America is in no essential respect 
 different from a law which prevents the people of Middlesex 
 from buying in Surrey or Lancashire ; that every innocent 
 operation of trade is necessarily an advantage to both parties 
 concerned in it, and that to stop it by law is necessarily an evil 
 to both ; — all these, with the numerous consequences derived 
 from them, appeared to me to be such elementary truths that I 
 did not know where to begin. 
 
 Nor did I find much help when I looked into the public Vagueness 
 speeches and articles of Protectionists, Fair Traders, and °[^^jhgse^ 
 Reciprocitarians. Loud assertions that the British workman principles, 
 is disgusted with Free Trade, and a convert to Protection ; 
 B
 
 2 FREE TRADE 7'. FAIR TRADE. 
 
 Attacks on appeals to the prejudices and self-interest of special classes; 
 Free Trade alleerations of national ruin, which every one knows to be false ; 
 
 principles* . • • • 
 
 misstatements of historical facts which have happened within 
 my own recollection ; suggestions of the superior wisdom of 
 Prince Bismarck or M. Thiers ; imaginations of the grand 
 imperial policy which Mr. Pitt or Mr. Huskisson would have 
 followed had they been in the place of Sir R. Peel and 
 Mr. Cobden ; attacks on Cosmopolitanism and praise of Im- 
 perialism ; denunciations of political economy, in which the 
 ignorance of the writers was as conspicuous as the violence of 
 their language ; and general philippics against Radicals, Philo- 
 sophers, and members of the Cobden Club ; — in all this I could 
 find little to answer, though much to grieve at. 
 Allegations As to evidence of facts, I could find little or none. Appeals 
 ofNationa Ji^degfj there have been — e.g., in the Quarterly* — from the 
 general experience which is conveyed by the National statistics, 
 to special cases, and appeals of this kind have latterly gained 
 strength from the depression which undoubtedly exists at thisf 
 moment in many important branches of trade. To this de- 
 pression and its causes I shall refer in subsequent chapters. 
 Recent There has also, since the date of my first edition, been 
 
 Protection- an abundance of v.riting and speaking — to be found partly in 
 ances.^^" the publications of the Fair Trade League, partly in news- 
 papers and periodicals — in support of Fair Trade principles. 
 One thing is clear from them, viz., that Fair Trade and Pro- 
 tection are the same thing, and that the policy and arguments 
 of Fair Traders are those which we fondly hoped had been 
 silenced for ever in 1846. I find in these papers abundant 
 attempts to show in one form or another that Governments 
 can divert trade without restricting it ; that they can forcibly 
 transfer purchases from one country to another without raising 
 prices; and that they can raise the price paid to the seller 
 without raising the price paid by the buyer. I find, also, a 
 constant use of statistics, which, from one cause or another, is 
 insufficient, incomplete, or misleading. To quote or reply to 
 all these statements in detail would be tedious, if practicable; 
 but I trust that I shall be found to have omitted no argument 
 which is of real or general importance. 
 
 Let me refer, however, to one allegation which has been 
 made in this controversy — to the effect that " it is the race for 
 
 * Qnarterly, 7th October, 1881. f See Cliapter XXXII. below.
 
 PRELIMINARY. 3 
 
 cheapness caused by foreign competition which has demoralised Demorali- 
 so many ot our own industries, and brought EngUsh goods sation of 
 into disrepute in once vakiable markets." I need scarcely say ture"by''^' 
 that proof or facts to substantiate this charge are, as usual, wholly Foreign 
 wanting. Nor will I pause to ask whether the evil, if it exists, is *^ompeii- 
 to be remedied by making English goods dear, which would be 
 the inevitable effect of Protection here, as it is now the effect of 
 Protection in foreign countries ; but I will quote a passage I 
 have come across in a letter from Josiah Wedgwood, 'dated 21st 
 April, 1 77 1, more than a hundred years ago : — 
 
 " The potters seem sensible of their situation, and are quite Josiah 
 in a panic for their trade, and indeed with great reason, for low '^^'^ds- 
 prices must beget a low quality in the manufacture, which will 
 beget contempt, which will beget neglect and disuse, and there 
 is an end of the trade. But if any one warehouse distinguished 
 from the rest will continue to keep up the quality of the manu- 
 facture, or improve it, that house may perhaps keep up its 
 prices, and the general evil will work a particular good, and 
 they may continue to sell ware at the usual prices when the 
 rest of the trade can scarcely give it away." 
 
 We may see from this that the apprehension of competition 
 begetting cheapness, of cheapness begetting badness, and bad- 
 ness destruction of our trade, is not confined to the present 
 generation, and existed when there was no foreign competition 
 and abundant protection. AVe may also see what the clear- 
 headed, stout-hearted Josiah Wedgwood thought to be the true 
 way of meeting such competition ; and we may judge from the 
 subsequent history of the potteries what the ultimate eftects of 
 his mode of meeting it ha\e been — results wider, probably, than 
 he ever contemplated. 
 
 Let me support this view by an extract from a more niodern 
 authority. 
 
 "We ought, I think, to put legislative remedies last, instead SirStaffoni 
 of first, in our system of inquiry. Of course, the great thing is ^ °^^ *^°*'" 
 to get the correct facts ; then to ask whetJier the depression in any 
 particular industry is temporary or chronic ; and, if chronic, 
 zi'hether it is due to causes within our control. Sometimes ice 
 find ourselves face to face with impediments which are absolutely 
 insuperable, and which it is but waste of time and strength to 
 contend against. But more commonly 1 think there are reme- 
 dies to be found in the exercise of greater skill, the employment 
 of moj-e capital, the opening up of new fields of enterprise. 
 B 2
 
 FREE TRADE V. FAIR TRADE. 
 
 Reaction 
 against 
 Free Trade 
 principles. 
 
 Anything seems to me better than endeavouring to get out oj a 
 difficulty by inferior work, which is what we are always tempted 
 to try. If a farmer starves his land, if a inanufacturer puts 
 shoddy for cloth, and so on, he increases the permanetit difficulties 
 of his case, for tlie land becomes less productive, and the cloth 
 loses its character, and so loses its market. Foreign competition 
 is, of course, one of the difficulties our working classes have to 
 contend with ; but that is a condition of our existence, and we 
 must meet it in the best 7oay 7C'e can."* 
 
 But since the time of the Corn Law controversy there has 
 no doubt arisen a new generation, to whom much that was 
 burnt into the minds of their fathers by a mortal struggle has 
 become merely an accepted tradition. There have been 
 downs as well as ups in trade, and these have — not without 
 fault on the part of Free Trade advocates — been attributed 
 to our Free Trade policy. There has been a wave of National, 
 as opposed to Cosmopolitan, sentiment passing over the world ; 
 which, if it has produced its good effects in the consolidation of 
 a P>ee American Union, and in the unification of Italy and Ger- 
 many (effects, it must be remembered, odious to many of our own 
 Imperialists), has also produced its bad effects in the Franco- 
 German war, in the Pan-Slavonic movement against Turkey, in 
 the tide of Imperialism which has been sweeping over our- 
 selves, and which is not yet exhausted, in the French troubles 
 in Africa, in the adoption of a protective policy by the 
 United States, and in the partial relapse into a similar policy 
 evinced by some of the nations of Europe and by some of our 
 own colonies. 
 
 It is not amiss, under such circumstances, that we should be 
 reminded that there is no such thing in politics as an " in- 
 fallible dogma ; " that every one has a right to a " pious 
 opinion ; " that a great political party and its leaders have a 
 perfect right to advocate Retaliation or Reciprocity or Fair 
 Trade, or whatever other name or form a reversal of our 
 existing policy may assume ; and that that policy cannot exist, 
 and ought not to exist, unless it is able to justify itself. 
 
 There are, moreover, certain questions emerging out 
 of the chaos of wild assertions, to which sensible and dis- 
 an Answer.; interested people, even though they may be resolute Free 
 Traders, may justly require an answer, and which, perhaps, have 
 
 * Extract from a letter written by Sir Staftord Northcote to Mr. George 
 Potter, dated 30th November, 1884, and published in the Times, 
 
 Pious 
 Opinions. 
 
 Questions 
 deserving
 
 PRELIMINARY. 5 
 
 not been as completely answered as they ought to be; such, Questions 
 for instance, as the following, viz. : — deserving 
 
 ^^ . ' . , ?' , - . , an answer. 
 
 How IS It that a period of excessive export, such as 
 1870-1875, is a period of undoubted prosperity; whilst a 
 period of excessive import, like the subsequent period, has 
 been a period of comparative depression ? 
 
 If the French Treaty was right, and was followed by enor- 
 mous increase of trade, is it not right to put ourselves in a 
 position to make similar bargains by putting on duties which 
 we can afterwards take off? 
 
 How is it that the trade of Protectionist or half-Protectionist 
 nations, such as America and France, has advanced as quickly 
 as or more quickly tlian that of Free Trade England ? 
 
 Does not the present attitude of the world towards Free 
 Trade prove that the anticipations, and consequently the 
 reasoning, of the Free Traders was wrong? 
 
 Can we do anything to promote trade with our colonies ? 
 
 Questions such as these, taken by themselves, form detached 
 parts of a great subject, and do not afford a satisfactory oppor- 
 tunity of dealing with the merits of Free Trade or of the 
 objections which have been made to it. I was, therefore, very 
 glad when an association was formed, comprising most of the 
 persons who have been putting forward such objections, and 
 when that association placed before the world a programme in 
 which its authors not only professed to state in short terms 
 their reasons for departing from Free Trade, but placed before 
 the world an outline of the new policy which they would have us 
 substitute for the commercial policy of the last 40 years. Such 
 a programme, however worthless in itself, affords a definite sub- ^''°' 
 ject for discussion, in the course of which we have the great Fair Trade 
 advantage of considering not only whether our present policy is l>eague 
 absolutely good, a question which in this incomplete world it is • 
 seldom possible to answer with perfect satisf^xction, but whether 
 it is, or is not, better than other possible policies. I propose, 
 then, first to state the effect of tlie programme of the Fair Trade 
 League ; to point out shortly the assumptions on which their 
 proposal for a change of policy is founded; to show the ground- 
 lessness of those assumptions ; and then to criticise at some 
 greater length the two main propositions contained in their 
 programme. In doing this, we shall have the opportunity of 
 treating the incidental questions whicli I have mentioned 
 above.
 
 FREE TRADE V. FAIR I'RADE. 
 
 CHAPTER II. 
 
 PROPOSALS OF THE FAIR TRADE LEAGUE. 
 
 Programme The programme of the Fair Trade League is not definite in 
 of League, jj.^ particulars, but its principal features are as follows : — 
 
 1. Raw materials of manufacture to be admitted free. 
 
 2. Food to be taxed when coming from foreign countries ; 
 
 to be admitted free when coming from our colonies 
 and possessions. This taxation to be maintained for 
 a considerable term, in order to give the colonies 
 time to develop their products. 
 
 3. Tea, coffee, fruit, tobacco, wine, and spirits to be taxed 
 
 10 per cent, higher when coming from foreign coun- 
 tries than from our own colonies. It is not clear 
 whether it is intended that they or some of them are 
 to be free from taxation altogether, when coming from 
 the colonies. 
 
 4. Import duties to be levied upon the manufactures of 
 
 foreign countries which now impose prohibitory or pro- 
 tective duties on our manufactures ; such duties are 
 to be removed in the case of any nation which will 
 agree to take our manufactures duty free. 
 I am not aware that this programme has been altered since 
 the date of my first edition. The subsequent publications of 
 the League support, but do not materially vary, these proposals. 
 Mr. Samp- Mr. Sampson Lloyd, in his letters published in 1882, would 
 son Lloyd s i^i^^^.g ^g impose a differential tax on all foreign products in 
 favour of all our colonies, with the threat that if any one of 
 them will not reduce their duties on our goods, we will with- 
 draw the privilege from that colon}-, and tax their products as 
 foreign. 
 Mr. Farrer Mr. Farrer Ecroyd has embodied his proposals in the fol- 
 lesolution ^o^^'i'''g resolution, which has at any rate the merit of being 
 more definite : — 
 
 "That, in view of the growing injury inflicted upon our 
 industries by foreign tariffs, and the consequent importance of 
 more rapidly developing the resources of India and the colo-
 
 PRELIMINARY, 
 
 nies, it is expedient to iVee ourselves as early as possible from 
 the restraints of commercial treaties ; to abolish duties upon 
 tea, coffee, cocoa, and dried fruits imported from British pos- 
 sessions ; to levy specific duties (in no case equal to more than 
 ten per cent, upon ordinary average values) upon the like arti- 
 cles, as well as upon wheat, flour, and sugar imported from 
 foreign countries ; and also to impose an import duty upon 
 foreign manufactures, with the notification that it should cease 
 to operate, as against each nation, from the day on which such 
 nation should admit British manufactures duty free." 
 
 The recent agitation on the subject of the Colonies and 
 Colonial Federation has given emphasis to the Colonial Policy 
 of the Fair Trade League, and we hear in various quarters pro- 
 posals embodying certain features of that ])olicy. 
 
 Before dealing with the Fair Trade programme as a prac- The 
 
 tical proposal, several questions would have to be asked and vagueness 
 
 i of these 
 
 answered, e.g.— proposals. 
 
 1. \Vhat is meant by raio iiiafericJs., and what is meant by 
 
 inani/fadures, and what is the economical distinction 
 between the two? This is a question which has not 
 always received the attention it deserves, even at the 
 hands of economists. 
 
 2. What would be the effect on the revenue of the prac- 
 
 tical abolition of the duties on tea, and coffee, and 
 fruit ? As a measure of economical and social reform, 
 it would, of course, if the revenue admits of it, be 
 welcome to every Free Trader. 
 
 3. Is it intended that food shall be admitted free from 
 
 all our colonies, even where they levy protective or 
 prohibitory duties on the produce and manufactures 
 of the United Kingdom ? And if not, is there to be a 
 tariff bargain in each case ? 
 
 4. Are the manufactures of the colonies to be admitted 
 
 free, even where they place a protective or prohibitive 
 duty on the manufactures of the United Kingdom ? 
 These questions raise serious questions of jmnciple and Two gre.it 
 practice, the discussion of v»'hich might prove awkward to the ''""ciples. 
 Fair Traders, and which in general are, probably from this 
 reason, purposely left obscure. But there is sufficient intima- 
 
 , • „ r i 1 ■ • 1 • I. Encour- 
 
 tion of two general prmciples, viz. : — a<Tement of 
 
 First, that we should depart from our present principle of Colonial 
 
 neutrality, and that our trade with our own colonies and Trade.
 
 FREE TRADE V. FAIR TRADE. 
 
 possessions should be artificially encouraged by means of an 
 artificial discouragement of our trade with foreign nations. 
 
 Secondly, that we should place retaliatory duties on the 
 manufactures of all countries which place duties on our manu- 
 factures. 
 
 These principles I propose to discuss. 
 
 There is one preliminary difficulty : The advocates of this 
 new policy, like the other writers and speakers to whom I 
 have referred above, instead of prefacing and supporting their 
 proposals for so great a change by an appeal to evidence which 
 it might be possible to sift, content themselves with general 
 assumptions, which may be denied by those who disbelieve 
 them, but which it is difficult to disprove without a wearisome 
 array of facts and figures. Thus it is assumed that our 
 industries are permanently depressed and decaying ; that the 
 excess of imports above exports is a sign of this decay; and that 
 we are losing our position as manufacturers in the markets of 
 the world. These assumptions have been dealt with already 
 in speeches by Mr, Gladstone, Mr. Chamberlain, Mr. Cross, 
 and Mr. Slagg ; in Mr. Whittaker's article in the October 
 number of the JSfineteenth Century of 1880; in Mr. Mundella's 
 speech on Mr. Mac Iver's motion on the ist of No\-ember, 
 1884; in Lord Granville's reply to Lord Dunraven on the 
 7th of November, 1884; in Mr. Williamson's article in the 
 January number of the Fortnighil}\ 1884; in the publications 
 of the Cobden Club ; in Mr. Giffen's published papers ; in 
 many articles of the 7'i//ies, in the Statist, Econot/iist, and other 
 newspapers ; and have been conclusively disproved. 
 
 It has been shown that, taking all the usual tests of 
 national prosperity — the returns of trade, of shipping, of the 
 income tax, of banking, of pauperism, of crime, of the general 
 consumption of articles of food and luxury — the progress of the 
 country as a whole is, beyond doubt, great and continuous, and 
 that any recent depressions and fluctuations are such as have 
 taken place at all times, and as can be easily explained by 
 special causes, to some of which I shall have to recur below. 
 No answer has been given to these figures, except statements 
 concerning the well-known depressions in certain businesses, 
 and appeals from general experience to the particular evidence 
 of special observers in particular cases. 
 
 For convenience of reference, I have'added in the Appendix 
 a table, No. XXIL, containing a summary of the statistics ot
 
 PRELIMINARY. 9 
 
 the population of the United Kingdom, and of facts relating Table 
 to their condition, so far as the same can he obtained, from ^-^l^-. 
 1840 to the present time. It comprises the following items, "condition 
 viz. : — Number of population, national revenue, national debt, of England 
 local taxation, income tax, education, emigration, pauperism, ^'"'^^ '^■*°" 
 crime, foreign trade, shipping, railways, clearing house and 
 Bank of England returns, savings banks, production of coal and 
 iron, price of wheat, consumption ])er head of spirits, tea, sugar, 
 and imported flour, and letters delivered. It is scarcely neces- 
 sary to observe that such statistics are always more or less 
 incomplete ; that they must be read with care ; and that par- 
 ticular conclusions must be drawn with caution. But they 
 present a synoi)lic view which is sufficiently accurate for general 
 purposes, and which leads with certainty to the general con- 
 clusion that the industries of our people are not failing, that 
 their condition is not deteriorating, and that the nation is not 
 in a state of decay. 
 
 Beyond this I will not attempt to enter upon any general 
 examination of the state of the country, and we may proceed 
 at once to examine on their merits the two leading principles 
 of the Fair Traders, viz., anew Colonial Policy, and Retaliation 
 upon Foreign Nations. In doing so I shall have occa- 
 sion to touch again on some of the above topics. In dis- 
 cussing these principles, I shall not confine myself to the actual 
 proposals of the Fair Trade League, but shall endeavour to see 
 whether the principles they advocate, which are not devoid ot 
 a certain superficial plausibility, are capable of any practical 
 application, even though that application is not contained in 
 the Fair Trade programme.
 
 NEW COLONIAL POLICY. 
 CHAPTER III. 
 
 GENERAL CHARACTER OF THIS POLICY. 
 
 The Fair Trade League propose their new policy not only 
 as a measure of economical reform, by which, as they say, 
 Freedom of Trade would be in substance promoted, and our 
 production and wealth increased, but as a " Great national 
 policy which, while stimulating trade at home and pro- 
 moting the prosperity of all classes, would bind together 
 more closely by the ties of a common interest, the mother 
 country and her scattered populations, strengthening the 
 foundations and consolidating the power and greatness of the 
 empire." 
 Imperial- To some of US these words may appear not a little suspicious. 
 
 They are not ill calculated to attract those who think that the 
 glory of England consists in the extent of territory subject to 
 her imperial sway, in domination over subject peoples, in 
 superiority of strength, and in her power to inspire fear in the 
 other nations of the world. But they are capable of a more 
 innocent construction ; they may mean only that whilst free 
 and peaceful intercourse is to be desired amongst all mankind, 
 it is especially to be desired and promoted amongst those who 
 have sprung from the same origin, who have the same history, 
 Avho speak the same language, whose lives are ordered by the 
 same laws and customs, and who are subject to the same form 
 of government. If this is their true meaning, it is not for the 
 Cobden Club, whose motto is " Free Trade, peace, good-will 
 amongst nations," to object to such a policy, nor would I say 
 one word against it. To improve and render more cordial 
 the relations between the United Kingdom and our great 
 English-speaking and self-governing colonies would, indeed, be 
 
 ism
 
 PART I. — NEW COLONIAL POLICY'. II 
 
 a labour worthy of a statesman, or of a generation of states- Suspicious 
 men. But the British Emjjire is made up of very different Character 
 elements. To deal with Canada or Australia, on the one Pojicy. 
 hand, and with India or Ceylon on the other, as united with 
 us by the same relation, and capable of being dealt with 
 in the same manner, is to confound things which are really 
 distinct. Even in our purely commercial relations with 
 these different countries, there are, as will be seen below, 
 great differences ; and in all the political relations by and 
 through which the proposed new commercial policy is to 
 be carried out, the differences are still greater. There is, 
 therefore, great reason to view with suspicion any plan which 
 proposes to apply one and the same policy, and that an entirely 
 new and experimental policy, to all these different communities, 
 and it is, at any rate, necessary to subject it to the strictest 
 examination. If, upon such examination, it can be shown that 
 the policy in question is founded on a misapprehension of 
 existing facts, that its economical consequences to the colonists 
 and to the mother country will not only not be what its advo- 
 cates anticipate, but will be injurious to them both, and that, 
 so far from strengthening the friendly relations of the colonies 
 to the mother country, such a policy is calculated to cause 
 ill-will and to precipitate disruption, then we ma}', without 
 hesitation, discard this latest product of Protection and Im- 
 perialism, as we have discarded other follies of the kind. 
 
 CHAPTER IV, 
 
 ASSUMPTION THAT OUR COLONIAL TRADE IS MORE STEADILY 
 INCREASING AND LESS FLUCTUATING THAN OUR TRADE 
 WITH FOREIGN COUNTRIES. 
 
 At the bottom of the new Colonial Policy lie two assumptions, Superior 
 which, though stated with the vagueness which characterises !;^n^^^^'^ 
 all the Fair Trade arguments, are no doubt to be implied from steadiness 
 their programme. These are, first, that whilst our profitable <^'" Colon'ai 
 trade with foreign countries is both unsteady and declining, as^med.
 
 12 FREE TRADE V. FAIR TRADE. 
 
 our profitable trade with our own colonies is steadily increas- 
 ing ; and, secondly, that our own colonies are more and more 
 ready and willing to receive our goods, whilst foreign nations 
 are more and more disposed to reject them. 
 
 I propose to deal with these two assumptions successively, 
 and shall be able to show that neither of them can be accepted 
 as true. Those who are satisfied already that these assumptions 
 are unfounded ; that our trade with foreign countries is as 
 valuable to us as our trade with our colonies ; and that the trade 
 of all countries is so bound up together that to limit one branch 
 is to limit others also, may pass over the long array of facts 
 and figures contained in this and the two following chapters, 
 and go on to Chapter VII. 
 Fair Trade Let US see what the Fair Trade League say in favour 
 allegations q{ t^g first of tl:ese assumptions. They give, in this pro- 
 gro^vUi""'^ gramme, as the chief reason for the proposal to tax foreign 
 and profit food, and admit colonial food free, that it will "transfer the 
 of Colonial great lood-growing industries we employ from Protective foreign 
 nations, who refuse to give us their custom in return, to our 
 own colonies and dependencies, where our goods will be taken, 
 if not duty free, yet subject only to revenue duties almost 
 unavoidable in newly-settled countries, and probably not equal 
 to one-third of the Protective duties levied by the United 
 States, Spain, Russia, &c. ;" and to this is appended the 
 following amazing note : — " Even at the present time every 
 quarter of wheat imported from Australia affords us in return 
 sixteen times as much trade and employment as a quarter of 
 wheat imported from the United States, and every quarter 
 of wheat imported from Canada thirty-five times as much as 
 one imported from Russia " ! ! 
 
 Mr. Farrer Ecroyd, again, who, in his article in the October 
 number of the Nineteenth Century, iSSi, made himself the 
 expositor of the Fair Trade programme, says : — " Had it (viz., 
 the ;^3o,ooo,ooo of produce which he assumes to have been 
 lost by our bad harvests) been purchased from our own 
 colonists, the money would have come round again, and have 
 given employment to all our industries, as an immensely- 
 increased export of our manufactures would have paid the 
 bill ; ■' and again — " Our experience teaches us that in buying 
 food from our colonies, we enjoy a return trade in our manu- 
 factures at least twenty times larger per head than with the 
 Americans and Russians ; " and again — " Assuming that we
 
 PART I. — NEW COLONIAL POLICY. I3 
 
 shall purchase food produced in our own dominions as cheaply 
 as it now is purchased in the United States or in Russia, 
 experience assures us that we shall obtain in exchange for the 
 purchase of it a dozen or twenty times more employment for 
 home industries than we now do." 
 
 It is really difficult to get at what is in the brains of men Absurdity 
 who make such statements. It would seem that they think °^ ^^^'.'' 
 that the simi)lc export of British goods without payment is ''^^^°"'"o 
 i>t'r se a good to this country; that Australia gets (say) sixteen 
 or twenty times as much of our manufactures in payment for 
 a quarter of wheat as Russia or the United States get ; and 
 that, therefore, it is of the utmost importance to us to transfer 
 our custom from Russia and the United States, to whom we 
 pay so little, to Australia, to whom we pay so much. But it is 
 the facts, not the reasoning, of these passages with which I 
 have now to do. Mr. Farrer Ecroyd continues : — " In con- 
 nection with this subject, let any one carefully study not only 
 the very large value of British manufactures purchased annually 
 per head by the inhabitants of our colonies as compared with 
 the Americans, but also the remarkable steadiness of the 
 colonial demand as compared with the violent fluctuations in 
 that of the United States. And, further, let him examine the 
 expansion during the past twenty-live years of the outlet for 
 our manufactures in India and our colonies, compared with the 
 stunted growth, or positive decline, of the trade to foreign 
 high- tariff markets. He will then be able to form some idea 
 of the demand upon our industries that would accompany the 
 gradual transference to India and the colonies of the growing 
 of fifty million pounds' worth of food, now annually imported 
 from the United States and Russia ; and, bearing in mind that 
 the economic gain from that increase of employment, however 
 great, would probably be of far less value than the moral and 
 social results of its superior steadiness, he will begin to appre- 
 ciate more fully the importance of this great question to our 
 labouring population." 
 
 These statements are very vague ; but the impression which Their evi- 
 they convey concerning the facts of the colonial trade is shared denceofth( 
 by many persons who are not members of the Fair Trade faclf^ 
 League, and there is some evidence which may be fairly quoted 
 in favour of it. There is, especially, one passage much quoted 
 and relied on, which is both specific and accurate, and 
 which, therefore, it is worth while to give at length. It is
 
 14 
 
 FREE TRADE 'c\ FAIR TRADE. 
 
 from an official report of the Board of Customs,* and is as 
 follows : — 
 
 " Exports." 
 
 '^^ Produce and Manufactures of the United Kingdom. ^^ 
 
 "The value of the produce and manufactures of the United 
 Kingdom exported to foreign countries and British possessions 
 in the year 1880 was as follows, namely : — 
 
 Foreign Countries 147,806,267 
 
 British Possessions 75,254,179 
 
 Total 223,060,446 
 
 showing an increase of ^31,528,688 upon the value of similar 
 exports in the year 1879, o'^ ^^^ per cent., and by assigning to 
 each of those divisions its proportion of the increase, we find 
 that the value of the goods exported to foreign countries ex- 
 ceeded that of 1879 by ;!^i 7,276,620, or 13^ per cent., and 
 that the value of goods sent to our colonies and dependencies 
 was greater by ;^i4,252,o68, or 23-i- per cent, than in 1879. 
 
 " The following table shows the percentage of difference in 
 a series of ten years between the value of the export trade in 
 goods of home manufacture to foreign countries and British 
 possessions respectively, on a comparison of the figures of a 
 given year, with those of the year preceding, namely : — 
 
 
 
 Value of 
 
 Value of 
 
 Proportion 
 
 Proportion 
 
 Year 
 
 Total Value of 
 
 Exports to 
 
 Exports to 
 
 of Foreign 
 
 of British 
 
 
 Exports. 
 
 Foreign 
 
 British 
 
 Countries 
 
 Possessions 
 
 
 
 Countries. 
 
 Possessions. 
 
 to Total. 
 
 to Total. 
 
 
 £ 
 
 £ 
 
 £ 
 
 Per Cent. 
 
 Per Cent. 
 
 1 87 1. 
 
 223,066,162 
 
 171,815,949 
 
 51,250,213 
 
 77-0 
 
 23 "O 
 
 1872 
 
 256,257,347 
 
 195,701,350 
 
 60,555,997 
 
 76-4 
 
 23-6 
 
 1873 
 
 255.164,603 
 
 188,836,132 
 
 66,328,471 
 
 74"o 
 
 260 
 
 1874 
 
 239,558,121 
 
 167,278,029 
 
 72,280,092 
 
 69-8 
 
 30-2 
 
 1875 
 
 223,465,963 
 
 152,373,800 
 
 71,092,163 
 
 68-2 
 
 31-8 
 
 1876 
 
 200,639,204 
 
 135,779,980 
 
 64,859,224 
 
 677 
 
 32-3 
 
 1877 
 
 198,893,065 
 
 128,969,715 
 
 69,923,350 
 
 64-8 
 
 35*2 
 
 1878 
 
 192,848,914 
 
 126,611,428 
 
 66,237,486 
 
 657 
 
 34 '3 
 
 1879 
 
 191,531,758 
 
 130,529,647 
 
 61,002,111 
 
 68-2 
 
 31-8 
 
 1880 
 
 223,060,446 
 
 147,806,267 
 
 75,254,179 
 
 66-3 
 
 337 
 
 " Taking the extreme limits embraced by the table, we find that 
 
 * Parliamentary Paper, No. 2953, 1881, p. 19. Observations having a 
 similar tendency occur in the Reports of the Customs for subsequent years, but 
 I will not occupy space by quoting them.
 
 PART I. — NEW COLONIAL POLICY. 
 
 ^5 
 
 in 187 1, when the total export value was almost identical with Customs 
 that of 1880, the proportion of the goods that found their way jsT""" 
 to our colonies was represented in value by ^51,250,213, or 
 23 per cent, of the total sum of p/^223,066,162, whilst in 1880 
 the proportion was^75,254, 1 79, out of a total of ^223,060,446, 
 or 337 per cent." 
 
 '■^Exports to British Colonics.'''' 
 
 " We give below a list of the principal articles, with their 
 values, that make up the aggregate of our trade with the 
 colonies, with the view of showing in what respect the increase 
 of 24 millions, which has accrued in the same period of ten 
 years, is chiefly exhibited." 
 
 Articles. 
 
 Apparel and slops 
 
 Anns, ammunition, and mili- 
 tary stores 
 
 Beer and ale 
 
 Coals, cinders, and patent fuel 
 
 Copper, unwrought and wrought 
 
 Cotton yarn 
 
 Cotton manufactures . . . . 
 
 Iron and steel, unwrought and 
 wrought 
 
 Leather, unwrought and wrought 
 
 Machinery and mill work 
 
 Paper of all kinds 
 
 Sillv manufactures 
 
 Woollen manufactures . . . 
 
 Other articles 
 
 Value in the 
 Year 1871. 
 
 Total 
 
 1,538,370 
 
 356,845 
 
 1,195,663 
 
 881,418 
 
 817,063 
 
 2.258,368 
 
 19,166,944 
 
 4,591,917 
 
 1,133,988 
 
 999,401 
 
 486,084 
 
 320,787 
 
 3,172,110 
 
 14,331,25s 
 
 Value in the 
 Year 1880. 
 
 Increase in 188 
 
 as compared 
 
 with 1871. 
 
 2,675,766 
 
 565,904 
 1,209,733 
 1,224,315 
 1, 206, 888 
 3,789,685 
 27,349,975 
 
 8,222,146 
 
 1,362,581 
 
 2,065,995 
 
 959,378 
 
 878,089 
 
 4,414,763 
 19,328,961 
 
 51,250,213 75,254,179 
 
 £. 
 1,137,396 
 
 209,059 
 
 14,070 
 
 342,897 
 
 389,825 
 
 1,531,317 
 
 8,183,031 
 
 3,630,229 
 
 228,593 
 
 1,066,594 
 
 473,294 
 
 557,302 
 
 1,242,653 
 
 4,997,706 
 
 24,003,966 
 
 " The above-mentioned twenty-four millions represent an 
 increase of nearly 47 per cent, in ten years in regard to our 
 trade with the colonies, but, on the other hand, the value of 
 our trade with foreign countries has decreased in the same 
 period from ;^i7i,8i5,949 to ^147,806,267, or 14 per cent., 
 the total export trade for 1871 and 1880 being, as we have 
 said, almost identical in amount, although sliowing such wide 
 differences when classified under ' Foreign Countries ' and 
 ' British Possessions ' respectively."
 
 i6 
 
 FREE TRADE V. FAIR TRADE. 
 
 Customs 
 Statement 
 as to Colo- 
 nial Trade 
 ncom- 
 plete 
 and mis- 
 used. 
 
 Now, this passage is, as I have said, perfectly accurate as 
 regards the facts to which it is confined ; the misfortune is 
 that it does not contain all the facts, or give a complete 
 account of the case; that it consequently conveys a wrong 
 impression, and that it is capable of being misused, and has 
 been misused accordingly. 
 
 In the first place, ten years is far too short a time by which 
 to measure the progress and value of different branches of trade. 
 
 In the second place, this table only professes to give the 
 exports of British produce from the United Kingdom ; it does 
 not give the imports, and without this it is useless as an index 
 to the comparative values of the foreign and colonial trades, 
 except, indeed, in the opinion of those who think that the 
 value of our trade depends solely on what we give, and not 
 also on what we get. 
 
 In the third place, by lumping all foreign countries on the 
 one side, and all the difterent British possessions on the other, 
 an impression is produced that there is some general law 
 governing each class, which produces results differing for the 
 two classes, but identical for all the cases within each class ; 
 and this impression is made use of with great effect by those 
 who contend that the whole object of Trade is to export, and 
 that, since the colonies take a growing proportion of our exports, 
 it is our business to encourage trade with our colonies, at the 
 expense of our trade with foreign countries. I have already 
 pointed out how different are the circumstances of the dif- 
 ferent parts of the British Empire, and how much our relations 
 to our self-governing colonies differ from our relations to 
 India. Now, it is not a little remarkable that if we analyse 
 the above comparison of 1880 with 187 1 we shall find that 
 the greatest increase in exports to the colonies, on which the 
 Customs report lays stress, is due to India. Our exports of 
 British produce to India were — 
 
 In 1871 
 „ 1880 
 
 ^'18,053,478, or 8-1 per cent, of the total. 
 30,451,314, or 137 
 
 The exports to the Australian colonies were : — 
 
 In 1871 . . ^10,051, 982, or 4"5 per cent, of the total. 
 „ 1880 . . 16,930,935, or 7-6 „ ,, 
 
 The exports to British North America were : — - 
 
 In 1871 . . j^8,257, 126, or 37 per cent, of the total. 
 „ 1880. . 7,708,870, or 3-5
 
 i'ART t. — NEW COLONIAL POLICY. 1 7 
 
 Further, in 1880 the exports to British India were Customs 
 ;^9, 000,000 more than in 1879, thus accounting for three- J^P°'''i^^j^j 
 fifths of the increased colonial export for that year ; so that, 'imde in- 
 whilst the exports to India and to Austraha very largely complete 
 increased in the decade, tliose to British North America used""^' 
 diminished. 
 
 Similar differences might be pointed out in the exports to 
 foreign countries. When investigated, they are often very in- 
 structive, as I hope to show below. I mention this now only to 
 prove, even within the narrow limits of the Customs table, how 
 fallacious it is to draw from figures of this description any such 
 general results as the Fair Traders have done. 
 
 It would be useless to quote or answer all the erroneous 
 statistics, or erroneous conclusions from statistics, which have 
 appeared on this subject ; but when so great an authority as 
 Mr. W. E. Forster, in advocating Imperial Federation, is said 
 to have quoted figures concerning the comj^arative value of our 
 foreign and colonial trade, some of which are inaccurate and 
 others incomplete, it is worth while to call attention to the fact. 
 I need not say that Mr. Forster has never indorsed the views 
 of the Fair Traders : but, on the contrary, if I remember right, 
 he expressly repudiates them. 
 
 In his recent speech at Bradford, as reported in the Times Mr. 
 of February 26th, 1885, are the following statements: — forster s 
 
 " The annual trade of the British dominions beyond the colonial 
 seas with the United Kingdom was — exports and imports, Trade. 
 ;;/^i 90,000,000 ; and with other countries _;^i 70,000,000 ; a 
 total of ^^360,000,000, or six times what it was at the begin- 
 ning of this century." 
 
 These figures of the trade are, after deducting bullion, and 
 deducting also Malta trade, in accordance with the official 
 returns of the trade for 1882 ; but as regards the trade at the 
 l)eginning of the century, I cannot find that there are any figures 
 which can be quoted with confidence. 
 
 Mr. Forster's speech, as reported, goes on to state that " the 
 trade of the United Kingdom with foreign countries in 1872 
 was more than ;!^248,ooo,ooo, and in 1882 was ;^2 14,000,000; 
 a decrease in 10 years of ^34,000,000 ; and that the trade of 
 the United Kingdom with British possessions, which in 1872 
 was ;^66,ooo,ooo, had increased in 1882 to ;!^99,ooo,ooo." 
 
 The figures no doubt relate to the export trade only ; and, 
 ^if so, they are not quite correct. The actual figures are : 
 c
 
 Mr. Fors- 
 ter's s] 
 on Co' 
 
 Trade 
 
 18 FREE TRADE V. FAIR TRADE. 
 
 1S72. 
 ter's speech To Foreign Countries .. .. .. ;,^249,ooo, 000 
 
 on Colonial To British Possessions . . . . . . ;^66,ooo,ooo 
 
 1S82. 
 To Foreign Countries .. .. .. ;^2I4, 000,000 
 
 To British Possessions . . . . . . ;^92, 000,000 
 
 But to take any single year as the test of the course of 
 trade, without examining the circumstances, is very apt to mis- 
 lead, and does so in this instance. It so happens that 1872 
 was a year in which our exports to the Continent were much 
 swollen by the results of the Franco-German war, and the pay- 
 ment of the French indemnity,* and, probably, also swollen by 
 errors in our own export figures. 
 
 It is also, for reasons given at length elsewhere, t misleading 
 to take our exports alone, or our exports to particular countries, 
 as tests of the value of trade. Imports are as valuable as 
 exports, and exports to a colony may be, and probably are, 
 only one link in a chain in a circuitous trade which binds Eng- 
 land, the colonies, and foreign countries together. The 
 figures which I have given below and in the Appendix embrace 
 the whole of our trade for many years ; and it is to these 
 taken as a whole, and not to the reports for a particular year, 
 that we must look if we mean to draw accurate conclusions. 
 
 Mr. Forster is further reported to have said that the " total 
 trade of imports and exports of the United Kingdom with the 
 world outside British possessions had increased from 1S54 to 
 1882 more than 77 per cent., but that the total trade, import 
 and export, of the United Kingdom with British possessions 
 had increased more than 170 per cent." If Mr. Forster said 
 this, he must have been grossly misled. The official figures 
 are as follows : — 
 
 Foreign Countries. British Possessions. Total. 
 
 1854 .. .. ;^i97,ooo,ooo £-ji,ooo,ooo ^268,000,000 
 
 1882 .. .. ^^528,000,000 ;f 192,000,000 ^720,000,000 
 
 Increase .. .. ;,f 33 1,000, 000 ;^I2I, 000,000 ;if 452,000, 000 
 
 Increase per cent. . . l6S 170 169 
 
 So that our trade with the colonies, instead of increasing 
 more than twice as fast as our trade with foreign countries, 
 
 * See below, pp. 26 and 27. f See below, pp. 30—36.
 
 PART I. — NEW COLONIAL POLICY. 
 
 19 
 
 has in fact just kept pace with it. More complete figures on 
 this point will be found below. 
 
 It is no doubt difficult to give, except in figures so long and 
 minute as to be unreadable, any general view of the com- 
 parative results of our trade with the different countries of the 
 world, but I will try to do so as briefly as I can, relegating the 
 more cumbrous tables to an Appendix. 
 
 First, assuming the position held by the Fair Traders, that Exports to 
 
 what we give, and not what we get, is the standard by which ^nd '^^ 
 
 to judge of the profits of trade, let us see what our exports of Foreign 
 
 British produce have been since 1840. Countries 
 
 since 1840. 
 Statement shoivingthe Total Exports of British and Irish Produce frovi the 
 
 United Kingdom to the tender mentioned Countries in each of the Years 
 
 1840, 1S60, 1872, 18S0, and 1S83. 
 
 
 1840. 
 
 i860. 
 
 1872. 
 
 1880. 
 
 1883. 
 
 
 £, 
 
 £ 
 
 £. 
 
 £. 
 
 £. 
 
 To Colonies 
 
 11,886 167 
 
 26,699,543 
 
 42,084,603 
 
 44,802,865 
 
 51,603,468 
 
 ,, British India . . 
 
 5,212,839 
 
 16,965,292 
 
 18,471,394 
 
 30,451,314 
 
 31,874,084 
 
 ,, Europe : 
 
 
 
 
 
 
 Russia 
 
 1,602,742 
 
 ^,269,079 
 
 6,609,224 
 
 7,952,226 
 
 5,036,614 
 
 Germany .... 
 
 5,579,66q 
 
 13.491. 513 
 
 31,618,749 
 
 16,943,700 
 
 18,787,635 
 
 Holland .... 
 
 3,416,190 
 
 6,114,862 
 
 16,211,775 
 
 9,246,682 
 
 9,506,246 
 
 Belgium 
 
 880,286 
 
 1,610,144 
 
 6,499,062 
 
 5,796.024 
 
 8,327,941 
 
 France 
 
 2,378,149 
 
 5,249,980 
 
 17,268,839 
 
 15,594.499 
 
 17,567,512 
 
 Spain 
 
 404,252 
 
 2.471.447 
 
 3,614,448 
 
 3,222,022 
 
 3.785,034 
 
 Italy 
 
 2,162,931 
 
 4,514,287 
 
 6,557.538 
 
 5,432.908 
 
 7,121,948 
 
 1 urkey 
 
 1,387,416* 
 
 5,064,233 
 
 7.639.'43 
 
 6,765,966 
 
 6,689,775 
 
 Otr Countries 
 
 
 
 
 
 
 in Europe.. 
 
 2,006,555 
 
 4,984,956 
 
 10,987,309 
 
 9,727,887 
 
 11,695,989 
 
 „ United States of 
 
 
 
 
 
 
 America .. 
 
 .■;,283,02o 
 
 21,667,065 
 
 40.736,597 
 
 30,855,871 
 
 27,372,968 
 
 Total 
 
 25 101,210 
 
 68,437,566 
 
 147,742,684 
 
 "1,537,785 
 
 1x5,891,662 
 
 ,, Other Countries 
 
 9,108,524 
 
 23,788,826 
 
 47,958,666 
 
 36,268,482 
 
 40,430,259 
 
 Total Foreign 
 
 34,209,734 
 
 92,226,392 
 
 195.701,350 
 
 147,806,267 
 
 156,321,921 
 
 Total 
 
 51,308,740 
 
 135,891,227 
 
 256,257,347 
 
 223,060,446 
 
 239,799.473 
 
 Including Greece, Wallachia, and Moldavia in 1S40. 
 
 Putting these figures in the form of percentages, they are as 
 follows : — 
 
 To Colonies, To India. To Foreign Countries. 
 
 1840 . . 23 . . 10 . . 67 . . 100 
 
 i860 . 
 
 . I9i • 
 
 12;^ . 
 
 68 
 
 100 
 
 1872 . 
 
 \b\ . 
 
 7 
 
 76h . 
 
 100 
 
 IS80 . 
 
 20 
 
 13^ • 
 
 66^ . 
 
 100 
 
 IS83 . 
 
 . 2li . 
 
 I3k . 
 
 65i . 
 
 100 
 
 C 2 
 
 
 

 
 20 FREE TRADE V. FAIR TRADE. 
 
 There is here no symptom of any permanent increase in 
 the percentage of the colonial exports, but rather the reverse. 
 The percentage of the foreign exports, which rose rapidly with 
 the loans and inflation of 1872, has otherwise remained 
 steady, and there have been great fluctuations in the per- 
 centage of the Indian trade. There is certainly nothing 
 in these figures to lead one to suppose that we should 
 < sacrifice the trade with foreign countries in order to nurse 
 
 the colonial trade. 
 Trade with But no view of trade is complete which deals with exports 
 Colonies alone, nor is a comparison of one single year at one period with 
 Foreign another single year at another sufficient to show the general 
 Countries coursc of trade. I have therefore annexed* four tables, 
 the^last° showing for each of the last twenty-eight years the amount and 
 asyears, as proportions of our trade with foreign countries and with our 
 a whole, Q^yj-^ colonies and possessions respectively. The first of these 
 tables gives the exports of produce of the United Kingdom ; 
 the second gives the total exports, including re-exports of 
 foreign and colonial produce ; the third gives the total im- 
 ports ; and the fourth gives the total of the imports and 
 exports. For each year is given the percentage of the foreign 
 and colonial trades respectively. From these tables it is 
 clear that whether we take, as the Fair Traders do, the 
 exports of British produce only, or the total exports, or the 
 total imports, or, which is the fairest test, the whole of the trade 
 exports and imports together, there is not the least ground for 
 the assertion that the whole of our trade with our own posses- 
 sions has grown faster than our trade with foreign nations, 
 or that it is subject to fewer fluctuations. Taking the exports 
 of the produce of the United Kingdom, the exports to the 
 colonies were 33 millions in 1S56, rose to nearly 54 millions 
 in 1866, sank to 48 millions in 1869, rose to 72 millions in 
 1874, fell to 61 millions in 1879, rose to nearly 85 millions in 
 1882, and fell to 83 ly^ millions in 1883. Of the imports, the 
 colonial share is smaller, but ecjually fluctuating. It was 43 
 millions in 1856, 38 millions in 1858, 93 millions in 1864, 
 since which time it declined, being as low as 73 millions in 
 187 1, and 78 millions in 1878, rising again to 92 millions 
 in 1880, and to 99 millions in 1882. Taking the whole of 
 the trade of the United Kingdom — imports and exports 
 
 * See Tables I., II., III., and IV., in Appendix.
 
 PART I. — NEW COLONIAL POLICY. 21 
 
 together — which is by far the fairest test, the colonial sliare 
 of the trade was 80 milUons in 1856, 149 milHons in 1864, 
 114 miUions in 1867, 165 miUions in 1877, 145 milHons in 
 
 1879, 174 millions in 1880, and 191 millions in 1882. If we 
 turn to the tables, we shall see that these fluctuations are as 
 great as those which have taken place in the trade with foreign 
 countries. The proportion which our colonial trade bears to 
 our whole trade has varied between 31 "3 per cent., at which 
 it stood in 1863, to 20-9 per cent., at which it stood in 
 1871 ; it stood at 25'6 per cent, in 1856, at 24*9 per cent, in 
 
 1880, at 267 per cent, in 1882, and at 25*8 per cent, in 1883. 
 It has kept pace with our foreign trade, and forms about a 
 quarter of it. But it fluctuates as much as our foreign trade, 
 and forms a smaller proportion of it now than it did twenty 
 years ago. 
 
 But even these figures, whilst amply sufficient to show that 
 there is no ground whatever for supposing that our foreign 
 trade, as a whole, is either more precarious or less profitable 
 than our colonial trade, lump all foreign countries and all 
 colonies together, and fail to show how different has been 
 the course of trade with different colonies and different 
 countries, and how fallacious it is to include in one and 
 the same class either the one or the other. I have there- 
 fore added to the Appendix some tables,* showing what has 
 been the course of trade with each foreign country and _ . , 
 with each colony or group of colonies for the last eighteen each 
 years, giving for each country and for each year the exports Foreign 
 and imports separately, and the percentage which they con- ^"^""^j, 
 stitute of the aggregate imports and exports. I have also colony for 
 added a tablet giving a summary of the whole, showing, in the each of las>t 
 form of percentages, what has been the proportion which ^ y^^'^- 
 our trade with each country and each colony in each }'ear, and 
 in each completed period of five years, has borne to our whole 
 trade. 
 
 The following summary shows at a glance what proportion 
 of our whole trade has been carried on with each t'oreign 
 country and each colony for each of the three periods of five 
 years, ending with 1880, and for the subsequent three years. 
 
 * See Tables V. and VI., in Appendix, 
 t See Table VII., in Appendix.
 
 FREE TRADE V. FAIR TRADE. 
 
 Foreign Countries. 
 
 Statemenl oj the proportion Per Cent, of our whole Foreign Trade carried on 
 
 with each Foreign Country. 
 
 
 Russia 
 
 ma"; H°'l-d 
 
 Belgium 
 
 France 
 
 Italy 
 
 Titrkej- 
 
 Egypt 
 
 5 Years 1 
 ending I 
 1870. J 
 
 Pr. Ct. 
 
 5-3 
 
 Pr. Ct. 
 9-0 
 
 Pr. Ct. 
 
 5-4 
 
 Pr. Ct. 
 3-2 
 
 Pr. Ct. 
 11-2 
 
 Pr. Ct. 
 19 
 
 Pr. Ct. 
 2-6 
 
 Pr. Ct. 
 
 4-5 
 
 5 Years 1 [ 
 ending I 1 5'° 
 1875. 1 i 
 
 8-8 
 
 5-5 
 
 41 
 
 IO-8 
 
 1-8 
 
 21 
 
 2-9 
 
 5 Years 1 
 ending \ • 4'2 
 1880. J 
 
 8-2 
 
 5-8 
 
 3-8 
 
 10-9 
 
 1-6 
 
 19 
 
 19 
 
 1881 1 3-3 
 
 1882 4'l 
 
 1883 3-9 
 
 7-6 
 7.8 
 8-2 
 
 5-5 
 5-8 
 5-6 
 
 3-6 
 4-2 
 
 4'2 
 
 lO'I 
 
 9-6 
 9-3 
 
 1-6 
 
 1-5 
 1-6 
 
 17 
 1-6 
 1-8 
 
 1-8 
 
 I "5 
 1-8 
 
 Average for ) 
 whole Period, j 
 
 4-6 
 
 8-5 
 
 5-6 
 
 3-8 
 
 107 
 
 rS 
 
 21 
 
 2-8 
 
 Foreign Countries {continued). 
 
 United 
 States 
 
 Brazil 
 
 i 
 Chili Peru 
 
 China 
 
 Japan 
 
 Other 
 entries 
 
 Total 
 
 5 Years "| 
 
 ending \ 
 
 1870. J 
 
 Pr. Ct. 
 
 137 
 
 15-5 
 
 Pr. Ct. 
 
 2-5 
 
 Pr. Ct. Pr. Ct. 
 
 1-2 I-O 
 
 1 
 1 
 
 Pr. Ct. 
 30 
 
 Pr. Ct. 
 03 
 
 Pr. Ct. 
 12*2 
 
 Pr. Ct. 
 
 77 -o 
 
 5 Years "j 
 
 ending \ 
 
 1875- J 
 
 2-3 
 
 II 
 
 I'l 
 
 2-8 
 
 04 
 
 13-1 
 
 77-3 
 
 5 Years 1 
 endini:; 
 1880'. J 
 
 17-6 
 
 1-8 
 
 oS 
 
 0-8 
 
 28 
 
 0-5 
 
 12-8 
 
 75-4 
 
 1881 
 1882 
 18S3 
 
 20 "2 
 177 
 
 i8-6 
 16-3 
 
 1-9 
 1-9 
 1-8 
 
 0-8 
 0-9 
 0-8 
 
 o-S 2-4 
 0-5 2-1 
 
 0'4 2-0 
 
 0-5 
 
 0-4 
 0-4 
 
 12-8 
 
 13-8 
 13-8 
 
 74-3 
 
 73-4 
 
 74-2 
 
 Average for 1 
 whole Period. J 
 
 2-1 
 
 10 
 
 0-9 27 
 
 04 12-8 
 
 76-1
 
 PART I. NEW COLONIAL POLICY. 
 
 23 
 
 Colonies and Bkitish Tossessions. 
 Statement of the troportion Per Cent, of oiirwhole Foreign Trade carried on 
 
 tvith each Colony. 
 
 
 British 
 
 North 
 
 America 
 
 British 
 West 
 Indies 
 
 Australian 
 Colonies 
 
 , ,. South 
 '"J'* Africa 
 
 Other 
 
 British Total 
 Possessions 
 
 1 
 
 5 Years \ 
 
 ending [ 
 
 1870. \ 
 
 Pr. Ct. 
 
 27 
 
 Pr. Ct. 
 17 
 
 Per Cent. 
 
 4-8 
 
 Pr. Ct. ! Pr. Ct. 
 
 97 0-9 
 
 Per Cent. 
 3-2 
 
 Per Cent. 
 23-0 
 
 5 Years | 
 
 ending > 
 
 1875- ) 
 
 31 ' 1-5 
 
 5*3 
 
 81 
 
 I '2 
 
 3-5 
 
 227 
 
 5 Years \ 
 
 ending > 
 
 1S80. ) 
 
 2-9 1-5 
 
 6-6 
 
 8-5 
 
 1-6 
 
 3-5 
 
 24-6 
 
 1881 
 1882 
 1883 
 
 3-0 1-2 
 
 2-9 1-4 
 
 3-0 1-2 
 
 7-4 
 7-2 
 
 9-2 
 9-8 
 9-9 
 
 1-9 
 
 2-0 
 15 
 
 3'i 
 
 31 
 
 3-0 
 
 257 
 26-6 
 25-8 
 
 Average for | 
 whole Period, f 
 
 2-9 1 1-5 
 
 1 
 
 5-9 
 
 8-9 1-4 
 
 3-3 
 
 23-9 
 
 In order that I may not appear to overlook the facts reUed 
 on by the Fair Traders, I give the following summary, in a 
 similar form, of the course of our export trade to each country. 
 The following percentages are the percentages of the total 
 exports, including re-exports of foreign and colonial produce. 
 But the percentages are much the same as they would be if the 
 exports of the produce of the United Kingdom alone were 
 included, and in the tables appended the figures for both kinds 
 of export are given fully. But, whilst I give these figures in 
 deference to the weaknesses of the Fair Traders, I protest 
 against the notion that exports arc more important than 
 imports, and also against the notion tliat the direct trade to or 
 from each country and colony shows the whole character of 
 the transaction. Trade is circuitous, and the debt which 
 accrues to us in consequence of an export to a colony is often 
 repaid to us by our imports from some foreign country. More- 
 over, as we shall see below, temporary causes have an immense 
 effect both on our exports and imports ; and although in the 
 long run trade bnlances itself, the exports to any one country 
 for any given year, or short term of years, or even the exports 
 
 Exports to 
 
 each 
 
 Foreign 
 
 Country 
 
 and each 
 
 Colony 
 
 for iS
 
 24 
 
 FREE TRADE V. FAIR TRADE. 
 
 Exports to 
 each 
 Foreign 
 Country 
 and each 
 Colony 
 for 1 8 
 years. 
 
 and imports together, are often a most imperfect index of the 
 nature of our whole trade with that country. 
 
 Exports to Foreign Countries. 
 
 Statement of the proportion Per Cent, of Exports from United Kingdom, 
 
 including Ke-exports, to each of the undermentioned Foreign Countries. 
 
 Russia.' 
 
 Ger- 
 many 
 
 I Pr. Ct. I Pr. Ct. 
 5 Years 
 
 ending ^ 3-5 , 12-6 
 1870. 
 
 Hollandi Belgium France I Italy ITurkey Eg>-pt 
 
 Pr. Ct. I Pr. Ct. I Pr. Ct. ! Pr. Ct. | Pr. Ct. 
 
 5 Years 
 ending 
 1875- 
 
 3-6 12-6 
 
 6-9 i 3"4 
 
 7-6 4-5 
 
 2-8 3-2 
 
 io"o 27 
 
 2-5 
 
 5 Years 1 j | 
 
 ending I 3-6 11-4 62 
 1880.' J i 1 
 
 1881 
 
 1882 
 1883 
 
 Average for ) 
 whole Period. / 
 
 3-1 9-9 ! 5-1 
 
 2-8 ■ io"o 1 5"3 
 2-5 , 10-4 I 5-2 
 
 3*4 irS I 6 "6 
 
 47 10-5 
 
 2-8 
 
 4-6 
 
 4-9 
 4-8 
 
 4 '4 
 
 •5 
 
 lOT 2'5 
 
 97 2-4 2'3 
 9-6 , 27 2-4 
 
 lO'I 
 
 27 
 
 Pr. Ct, 
 
 3 "3 
 
 1-8 
 
 II 
 0-9 
 12 
 
 Exports to Foreign Countries {cofitinued). 
 
 United B^^^;i 
 States 
 
 Chili Peru 
 
 j Pr. Ct. I Pr. Ct, 
 5 Years 
 
 ending \ 117 | 27 
 1870. 
 
 5 Years 'j 
 ending \ i2"o 
 1875- i ; 
 
 5 Years 
 ending 
 1880, 
 
 9*4 
 
 1881 
 
 1882 
 1883 
 
 12'4 
 
 126 
 
 2-5 
 
 Pr. Ct. Pr. Ct. 
 10 06 
 
 o"9 08 
 
 2-5 
 
 2-3 
 
 2-4 
 
 2-3 
 
 Av. for whole ) i jj.- ^-e 
 Period. )"' •' ' ■' 
 
 0'6 o*4 
 
 0-9 0-3 
 I'D o"4 
 
 07 ! 0-3 
 
 China Japan 
 
 Pr. Ct, 
 
 2-6 
 
 Other 
 Foreign 
 Countries t 
 
 Total 
 
 Pr, Ct. Per Cent, 
 07 I II-8 
 
 1-9 
 
 07 ! I2'6 
 
 x-9 
 
 2'l 
 
 I -6 
 1-5 
 
 I2-8 
 
 i-i 12-8 
 
 0-8 I 12-8 
 0-9 ! 13-9 
 
 o"9 j o 6 j 2'o I o'8 ] i2'6 
 
 Pr. Ct. 
 76-9 
 
 767 
 
 71-6 
 
 70-8 
 69-9 
 
 70 "4 
 
 74-2 
 
 mm^t^sm^
 
 PART I. — NEW COLONIAL POLICY. 
 
 25 
 
 Colonies and British Possessions. 
 
 Stateincnl of the proportion Per Cent, of Exports from United Kingdom, 
 including Re-exports, to each of the undermentioned Colonies. 
 
 
 British 
 North 
 America 
 
 ladies ' Australi.-i \ India 
 
 South 
 Africa 
 
 Others 
 
 Toul 
 
 5 Years 1 
 ending \ 
 1870. J 
 
 Pr. Ct. 
 
 2-9 
 
 Pr. Ct. ' Per Cent. 
 1-2 5-4 
 
 Pr. Ct. 
 
 8-9 
 
 Pr. Ct. 
 07 
 
 Pr. Ct. 
 
 4-0 
 
 Per Cent, 
 23- 1 
 
 5 Years "1 
 ending I 
 1875. J 
 
 3-3 
 
 1-2 59 
 
 7-5 
 
 ID- 1 
 
 I -4 4-0 
 
 23-3 
 
 5 Years 1 
 ending \ 
 1880. J 
 
 2-9 
 
 31 
 
 3-5 
 
 3 3 
 
 I "2 
 
 77 
 
 i 
 2-2 43 
 
 284 
 
 1881 
 1882 
 18S3 
 
 10 
 II 
 I '2 
 
 S-i 
 
 9-3 
 
 8-8 
 
 10-4 
 
 lO'O 
 
 10-9 
 
 2-6 
 
 2*6 
 
 17 
 
 4-0 
 3-6 
 37 
 
 29-2 
 30- 1 
 29-6 
 
 Average for ) 
 whole Period. ) 
 
 3-1 
 
 I '2 
 
 6-8 
 
 9-1 
 
 1-6 
 
 4-0 
 
 25-8 
 
 E.xports to 
 each 
 Foreign 
 Country 
 and each 
 Colony 
 for 18 
 years. 
 
 It would take more time and more knowledge than I possess Obseiva- 
 to explain in detail the figures contained in the appended ''°"y°JJje 
 tables. Each foreign country and each colony shows its own with each 
 fluctuations, both of imports and exports, and these fluctuations foreign 
 have been as great in the colonial as in the foreign trade, j, °j" "^^ 
 It would be most instructive to trace these fluctuations to their Colony, 
 real causes. Protectionist tariff's have, no doubt, in some cases, 
 and to some extent, been causes of these fluctuations ; but 
 other causes, such as the cotton flimine, the Franco-German 
 war, the French indemnity, Engli.sh investments abroad, 
 bad harvests in Europe and good ones in America, the 
 wars in South Africa and in Egypt, have probably been still 
 more potent factors. To trace the effect of these causes would 
 throw light on many a delusion, and it is to be wished 
 that some competent person would undertake to do this 
 completely. At present I can only call attention to one or 
 two facts connected with the different trades.
 
 26 
 
 FREE TRADE V. FAIR TRADE. 
 
 0/fr Trade with Germany and Holland. 
 
 These two countries may be taken together, since much 
 German trade goes through Holland. Their proportion of our 
 whole trade, including imports and exports, has remained 
 steady during the last eighteen years. The exports increased in 
 the five years ending 1875, especially in the years 1871 and 
 1872, and decreaseei in the five years ending with 1880, and 
 have since slightly increased. The exports of British produce to 
 Germany were, in 1870, 20 millions; in 1872, 31^ millions; of 
 which considerably more than one-half consisted of cotton and 
 woollen manufactures; in 1880, 17 millions, and in 1883, 
 nearly 19 millions. The German tariff may have been one 
 cause of the diminution in 1880, and a real decline in the de- 
 mand for English woollen manufactures may have been another. 
 But in comparing the figures of cotton and woollen manu- 
 factures of different periods, there are several circumstances to 
 be taken into consideration. There were probably considerable 
 errors in our Trade statistics up to 1872-73, making the value 
 of woollen exports appear larger than it really was. Further, 
 the price of the raw material constitutes a large part of the 
 price of the manufactured article ; the whole of the raw 
 cotton and much of the raw wool come to us from abroad, 
 and have to be paid for ; and the prices of both have 
 fallen since 1872, that of raw cotton more than 30 per 
 cent. The apparent loss on exports has, therefore, to be 
 diminished by the difference. But there was another tempo- 
 rary cause, independent of tariffs and of prices, which, no 
 doubt, increased our exports to Germany in 187 1 and [872. 
 Effects of The French indemnity of 200 millions was paid to Germany 
 French partly in French cash, partly in French exports, but partly also 
 ncemni y. (.]-jj.Q,^,g]-^ England, SO that a part, and probably no inconsiderable 
 part, of the large English exports of merchandise to Germany 
 in the period from 187 1 to 1875 consisted, in fact, of advances 
 to Germany on French account, to be repaid to England 
 by France. This is confirmed by finding that the imports into 
 Germany from the principal European countries, viz., France, 
 Belgium, United Kingdom and India, Italy, and also from 
 the United States, during the five years 187 1 to 1875, 
 exceeded her exports to those countries by 23 millions 
 a year, an excess which was reduced to eight millions in
 
 PART I. NEW COI.ONIAI, POLICY. 2"] 
 
 1877.* It is also confirmed by the l'"rcnch statistics,! which, 
 after showing a large excess of imports in 1871, probably to 
 make up losses caused by the war and the defective imports of 
 1870, show a large excess of exports, especially to Germany, 
 Belgium, England, and Switzerland, amounting to not less than 
 24 millions a year during the years 1872 to 1875. ^^ 
 short, France borrowed to pay the indemnity; England and 
 other countries made advances in the shape of goods, and 
 France has since been repaying these advances, or the interest 
 upon them. There are, therefore, good reasons to explain the 
 increase of German trade in 1872-75, and its subsequent 
 decrease, without supposing that English industry is on the 
 decline, or that the demand for English manufactures, even in 
 Germany, is failing. On the contrary, it appears that it is now 
 again on the increase. 
 
 The trade with Belgium is also increasing, as mentioned 
 below. Taking Germany, Holland, and Belgium together, 
 there is a point in our recent trade with them which deserves 
 special notice. 
 
 The increase in the exports of British produce to Germany, Sugar, an I 
 Holland, and Belgium has been four millions and a half between p°|j foj.^ 
 1880 and 1883. The increase in the value of the imports of 
 sugar from these countries in the same years was about three 
 millions. As these are the countries which are accused of 
 injuring our workmen by giving a bounty on sugar, it may be 
 some consolation to learn that they are not only providing us 
 with cheap sugar at their own expense, but are also taking 
 our goods in return, and employing our other industries to a 
 larger extent than they ever did before. | 
 
 Our Trade witli Bd'^im/i. 
 
 Our whole trade with Belgium is steady. Our export trade Belgium, 
 to Belgium is, on the whole, increasing ; but the export of 
 British produce was rather more in the years 1871-75 than 
 in the years 1876 to 18S0, probably for the same reasons as 
 have been shown to apply in the case of Germany. The total 
 
 "* See Table VIII., giving the Exports and Imports of Germany from 1868 to 
 1877. These figures are taken from the statistics of the several countries. If 
 taken from German statistics, the figures for the imports into Germany would, 
 no doubt, be increased, and those of exports from Germany diminished. 
 
 t See Tables IX. and X., French Imports and Exports, 1868 101877. 
 
 + See Chapter on Sugar below, p. 186
 
 28 FREE TRADE V. FAIR TRADE. 
 
 export trade to Belgium is now again increasing, and aniounts 
 to fifteen millions. 
 
 Our Trade with France. 
 
 The proportion which our trade with France bears to our 
 whole trade has varied very little. It was rather less in 
 nominal value in the five years ending 1880 than in the 
 previous five years, but has been increasing since 1879. 
 Our exports to her increased very largely in 187 1, and 
 have maintained a high average since. They were 33 millions 
 in 187 1, 25^ millions in 1877, ^i^d 29-I millions in 1883. But 
 in 1871, out of the 33 millions, 15 were re-exports; in 1877, 
 out of the 25J, II were re-exports ; whilst in 1883, less than 
 1 2 were re-exports. I'his is probably due to the effect of the 
 Suez Canal in bringing Oriental goods direct to French ports 
 On the other hand, the exports of British and Irish produce to 
 France were 18 millions in 187 1, 14 millions in 1877, and 
 nearly 17I millions in 1882 and 1883; so that France is now 
 taking more of our own produce than she did a few years ago. 
 Her exports to England, in common with her exports to other 
 European countries, increased still more largely, giving, as 
 above stated, a surplus of exports over imports to these coun- 
 tries for the five years ending 1875 of 18 millions a year, a 
 surplus probably due to the payment of the German indem- 
 nity. Since then French imports into the United Kingdom 
 have diminished from 46 millions in 1875, to 38^? millions in 
 1883. 
 
 Our Trade with Italy. 
 
 There has not been much change in the amount or propor- 
 tion of our trade with Italy. But one thing is remarkable. 
 Italy is one of the few countries where our exports exceed our 
 imports. This they have clone for the last eighteen years, at 
 the rate of two millions a year and upwards. During the last 
 three years the excess has been from four to five millions. 
 Now it is impossible to believe that we are doing trade with 
 Italy at a loss. Is it not more than probable that Italy 
 pays her balance to us in a circuitous way ? Looking to 
 the French statistics (see Table X.), we find that the 
 imports from Italy into France exceed the exports from 
 France to Italy by an amount averaging in the last ten years 
 five millions sterling a year ; and we hear, usque ad nauseam,
 
 PART I. — NEW COLONIAL POLICY. 29 
 
 that France sends us many millions more than she takes from 
 us. It is, therefore, most likely the case that Italy sends us 
 goods through France, and thus pays her balance to us, and 
 increases the apparent French exports to England at the same 
 time. 
 
 Our Trade with Turkey. 
 
 Our imports from Turkey decreased largely between 1877 Turkey, 
 and 1879, fo'" reasons too obvious to dwell upon. It has since 
 increased by two millions. 
 
 Our Trade with Egypt > 
 
 There has been a large diminution in our trade with Egypt. 
 Egypt, but some of it is nominal, because since the opening 
 of the Suez Canal many cargoes to and from the East, formerly 
 entered as to and from Egypt, have been entered as to and 
 from the countries of destination and of shipment in the P2ast. 
 They may thus possibly swell the apparent increase of our 
 Indian and Colonial trade. In the comparative cessation of 
 the import of raw cotton from the East since the American 
 market has been re-opened, and in the cessation of loans to 
 Egypt after 1873, are to be found other reasons for the diminu- 
 tion of our trade with Egypt. 
 
 Our Trade with the United States. 
 
 It is our trade with the United States which is the pons United 
 asinoruin of our Fair Traders, and I shall have occasion to refer States, 
 to it again.* Our whole trade with them has increased very 
 largely, both absolutely and proportionately. It constituted 
 137 per cent, of our whole trade in the five years ending 1S70, 
 and 1 7 "6 per cent, of our whole trade in the five years ending 
 1880. For the last three years it has ranged from 177 to 2o"2 
 per cent. Our exports to the United States were 117 per cent, 
 of our whole exports in the period 1866 to 1870, and only 9-4 
 per cent, in the period 1875 to 1880. Since 1880 they have 
 ranged from 12 "6 to 12 per cent. This diminution, together 
 with a considerable addition to the aggregate trade, is made 
 up by an increase of imports. The exports to the United 
 States, which had risen very largely in 1880, have maintained 
 themselves at about 37 millions, being by far the largest 
 amount exported to any one country, whether foreign or 
 
 * See Chapters XXVIII., XXXIIL, XXXIV., and XXXV.
 
 30 FREE TRADE V. FAIR TRADE. 
 
 British. The imports from the United States, which were 
 107 milhons in 1880, were 99 milHons in 1883. It would 
 be idle to repeat what has been said so often already 
 ot our loans to the United States made in the earlier period, 
 and of the payment of interest upon these loans which now 
 appear in our imports. Nor is this the place in which to 
 attempt to disprove the assumption made without the shadow 
 of an argument, and, as I believe, without the shadow of 
 foundation, by some of the Fair Traders, that we are now calling 
 back capital from the United States. This point is referred to 
 below in the chapter on exports and imports (Chap. XXI.); 
 here I will only notice that, in speaking of the reasons for the 
 excess of imports, I have given some figures which, if they 
 approach the truth, show that we are increasing and not 
 diminishing our foreign investments ; that we are still lending 
 rather than recalling capital ; and, if this is so, the United 
 States is certainly one of the countries to which we are lending 
 most. One or two important facts I may point out which are 
 shown by these tables — viz., first, that our exports to the 
 United States increased from 17^ millions, at which they 
 stood in 1 87 8, to 38 millions in 1880 ; and, secondly, that 
 there are circumstances mentioned below, untler the head of 
 Indian trade, which make it in the highest degree probable 
 that we pay for imports of corn from America by exporting 
 manufactures to our own possessions in the East. As an 
 illustration of the way in which this may take place, I may 
 quote a passage from the Economist in the second week ot 
 October, 1881 : — "Last week the steamer Australia, from 
 Sydney, landed over a million dollars in gold at San Francisco. 
 Australia, of course, pays this gold on English account." 
 
 Our Trade unth Brazil. 
 
 Our trade with Brazil has declined, but the imports have 
 decreased more, and are now less, than the exports. As we 
 have lent money to Brazil and do much of the carrying trade 
 for her, it is clear that our imports from her ought very 
 largely to exceed our exports to her ; and as her exports to the 
 United States very largely exceed her imports from the United 
 States, there can be little doubt that we pay some of our debts 
 to the United States for corn and cotton, by exporting our 
 manufactures to Brazil.
 
 PART I. — NEW COLONIAL POLICY, 3I 
 
 Our Ti'ade witJi Chili and Peru. 
 
 Both our aggregate trade and our exports to Chili and Peru Chili and 
 considerably decreased in the five years ending with 1880, and ' ^™* 
 for this the cessation of our loans to Peru, and the subsequent 
 Peruvian collapse, and afterwards the war between Chili and 
 Peru, arc sufficient reasons. They now show s)m])toms ol 
 revival. 
 
 Our Trade 7C'ith China. 
 
 Our imports from China maintained their comparative China, 
 position until 18S0; since then they have decreased a little 
 both absolutely and comparatively, possibly in consequence of 
 a larger quantity of Chinese goods going direct to Continental 
 ports through the Suez Canal. Our exports to China averaged 
 six millions in the five years ending 1S70 ; nearly six millions in 
 the five years ending 1875 ; ^i"*^^' something less than five millions 
 in the years ending 1880. During the three years ending 1883 
 the exports have maintained about the same position as in the 
 previous five years. This, however, is a case where nominal 
 values conceal the real facts. Three-fourths and more of our 
 exports to China consist of cotton and woollen manufactures. 
 Now the quantity of cotton goods exported to China during the 
 latter period was 2 "6 per cent, more than during the previous 
 five years, and of woollen goods iS per cent. At the same time 
 the price of raw cotton, which forms a large proportion of the 
 cost of cotton goods, was 23 per cent, less in the latter than in 
 the former period, and the cost of raw wool also much less. 
 Consequently the real value of the exports of the produce ot 
 British labour was considerably greater in the latter than 
 in the former period. Yet this increasing export trade is 
 what the Fair Traders desire to check, by placing a 
 differential duty on Chinese teas. It must also be remembered 
 that Hong Kong, the trade with which swells the lists ot 
 colonial imports and exports, is really a depot for China, and 
 that in order to do justice to the trade of China, a great part ot 
 our trade with Hong Kong should be added. 
 
 Our Trade icifh Japan. 
 The aggregate trade and the exports have both increased. Japan.
 
 3« TREE TRADE V. FAIR TRADEi 
 
 Oi/r Trade zvith British North America. 
 
 British North America is certainly one of the colonies to 
 which our Fair Traders would wish to show special favour. It is 
 Canada which is to profit by their new policy, especially by a tax 
 on United States corn. Now, according to our own statistics, 
 our annual imports from British North America have averaged 9^- 
 millions in the five years ending 1870, 10^ millions in the five 
 years ending 1875, 11-^ millions in the eight years ending 1883. 
 Our annual exports have averaged 6| millions in the five years 
 ending 1870, 10 millions in the five years ending 1875, and 8} 
 millions in the eight years ending 1883. So that whilst the 
 imports from Canada have gone on increasing, our exports to 
 Canada under her Protectionist tariff have not only not 
 increased in proportion, but are less than they were at an 
 earlier period. These are figures from our own statistics. I 
 have not the most recent Canadian figures, but the following is 
 an extract from the speech made in the Canadian House of 
 Commons by Sir Richard Cartwright on the 3rd March, 1885, 
 in answer to Sir Leonard Tilley's Protectionist budget speech. 
 
 "Of our own produce, we sold to Great Britain in 1873, 
 31,876,000 dollars; in 1884, 37,410,000 dollars worth. We sold 
 6,000,000 dollars more of our own produce to Great Britain in 
 1884 than we did in 1873, and from the people of Great Britain, 
 with whom the INlinister (Sir L. Tilley) desires to favour our trade 
 we bought in 1873, 68,360,000 dollars, and in 1884 we imported 
 41,826,000 dollars. We sold them 6,000,000 dollars more 
 than we did eleven years ago, and we bought from them 
 26,000,000 dollars less, and the honourable gentleman con- 
 siders that a proof, I suppose, of how favourable his tariff has 
 been to the interests of our trade with Great Britain. I apply 
 the same rule to our exports to the United States. In 1873, 
 deducting bullion and short returns, we sold to the people of 
 the United States 33,416,000 dollars worth of goods. In 1884 
 we sold them 31,632,000 dollars worth. We sold them about 
 2,000,000 dollars more than in 1873, deducting the goods in 
 transit, with which the honourable gentleman has no right to 
 complicate the account. In 1873 we bought from the people 
 of the United States 38,147,000 dollans, and in 1884 we bought 
 49,785,000 dollars ; and that is the year in which we improved 
 our trade with Great Britain, and in which we diminished our 
 trade with the United States. Our trade with Great Britain is
 
 PART I. — NEW COLONIAL POLICY. 33 
 
 26,000,000 dollars less than it was eleven years ago, and our Our trade 
 
 with 
 Canada. 
 
 trade with the United States is 12,000,000 dollars more to the ^'^'^ 
 
 United States than it was eleven years ago. And, sir, that is 
 not all. Our trade with Great Britain was based on a much 
 smaller population in 1873, ^^d our trade with the United 
 States in 1873 was much more in our favour than appears on 
 the trade returns. 
 
 "Then, it was we who did the smuggling; now, it is the 
 Americans who do the smuggling into this happy country." 
 
 Sir R. Cartwright is borne out by the account given at the 
 late meeting of the British Association at Montreal by the 
 well-known statistician, Mr. Stephen Bourne, of the state of 
 our trade with Canada. It is the more remarkable because 
 the conclusion he comes to is, that we ought to refuse 
 to trade at all with Foreign Protectionist countries in order 
 to encourage our trade with Canada and other colonies ! He 
 says : — 
 
 " Turning to the table which sets forth the imports into 
 Canada, it will be observed that the value has of late years 
 exceeded that of the exports, both in the trade with the 
 United Kingdom and the whole world, an indication that she 
 is absorbing more than she is parting with. There is this 
 great distinction between the two, that whereas the exports 
 are of the raw materials for food or manufacture by the pur- 
 chasers, the bulk of the imports are of manufactured goods 
 to be used or consumed by the customers. Even those 
 shown as animal and agricultural products are mostly in 
 a state for use ; whilst the manufactures and miscellaneous 
 so greatly preponderate over the other classes as to altogether 
 dwarf those in the comparison. In these, too, the propor- 
 tion drawn from the United Kingdom is smaller than in the 
 exports and less in value than those supplied by the United 
 States. In both cases they range over every description of 
 articles required for daily use, either for consumption or as 
 instruments in carrying on the several industries. Like as with 
 the exports, it is sur|)rising to find that increase of population 
 has brought no addition in value to the trade of recent years ; 
 indeed, that ot 1883 is less than it was in 1873. This is more 
 marked in the drafts upon the mother country which are in fact 
 40 per cent, less now than they were ten years ago. Lower 
 prices may have in some degree caused this diminution, but if 
 so as regards the exports from England, it enhances the increase 
 D
 
 Canada. 
 
 34 FREE TRADE V. FAIR TRADE. 
 
 Our trade of volume in tlic trade willi the United States, where the differ- 
 ri^!?.,Ho ^"^*-' between the highest year, 1883, and the lowest one, 1880, 
 is as much as 90 per cent, upon the smaller amount. No doubt 
 these conditions will be greatly altered when through railway 
 communication exists, but at present it would seem that the 
 colony does not respond in the degree which might be looked 
 for to the investments of capital from the mother country or the 
 additional people she is sending over. Increased consumption 
 must be going on ; the inference therefore is that more is 
 manufactured within the Dominion than there was formerly. 
 The contiguity of the United States is doubtless a powerful 
 reason for resorting to her stores, though not an encouraging 
 feature in her relations to the mother country." 
 
 It is to be remembered that Canada largely increased her 
 duties by her Tariff of 1879, that she is still increasing them 
 under the high-sounding title of a " National Policy," and the 
 above figures show the results of this policy on her trade with 
 the mother country. This subject is further referred to 
 below, pp. 47, 48. 
 
 Our Trade with the West Indies. 
 
 \Vest Th^ British West Indian trade has been nearly stationary ; 
 
 Indies. but our exports to the West Indies have been slightly less in 
 
 nominal amount for the five years ending 1880, than for the 
 
 five years ending 1875. 
 
 Our Trade tvith the Australian Colonies. 
 
 Australia. The imports from the Australian colonies have risen from 
 
 p/^i 1,423,268 in 1866, to ^25.663.334 in 18S0, and to nearly 
 ^27,000,000 in 1881, and the rise has been steady, except in 
 the case of a great jump in 1880. Since 1881 they have 
 declined by ^1,000,000. But our exports have not risen in 
 nearly the same proportions, nor so steadily ; they were 
 ;!^i4, 620,779 iJ^ 1866, and only ^18,748,092 in 1880. In 
 1874-78 they averaged about 21 millions annually; since 1880 
 they have risen, amounting to 28 millions in 1882, and to 
 nearly 27 millions in 1883. 
 
 Australia is, however, the one group of self-governing 
 colonies to which the Fair Trader will point as showing a steady 
 progressive increase in the whole trade, and a comparatively
 
 PART I. — NEW COLONIAL POLICY. 35 
 
 large recent increase in the exports they take iVom this Our trade 
 country. But I am not sure that the Fair Trader will be much ^"^ 
 comforted when he learns that one great reason for the in- 
 crease of exports is the larger amount of the loans which 
 England has been making to Australia. The amount of her 
 public debt has increased from 27^- millions in 1867, to 78 
 millions in 1879, and to 109 millions in 1883.* It was 
 estimated t that our loans made to Australia in 1880 amounted 
 to 10 milHons, and that her aggregate debt to us, including 
 investments of all kinds, was not less than 120 millions. It is 
 probably now much more. In the Standard of the 30th 
 December, 1884, the Colonial loans for the past year are 
 estimated at ^'31,000,000, most of which probably went to the 
 Australian group. The advance of the principal probably 
 accounts for a large part of the increase of our exports. But I 
 fear that the Fair Traders, who are so much alarmed at the 
 imports which the United States send us in payment of the 
 interest on their debt to us, will at no distant time have to 
 groan over a similar excess of imports from Australia, arising 
 from a similar cause. And if the authority to whom I have 
 referred is right in supposing that Australia becomes in- 
 debted to us every year for freight earned by our shipowners 
 to the extent of many millions, they will have an addi- 
 tional source of alarm, for we shall get that amount of imports 
 from them without giving them any visible exports whate\er in 
 return. 
 
 Another thing to be remarked concerning Australia, as 
 concerning India, is that she exports to the United States 
 more than she imports from them. I have already mentioned 
 an instance of the way in which she makes payment to the 
 United States on English account, and there are probably many 
 more ; if we check our imports from the United States, we shall 
 check our exports to Australia as well as to India. 
 
 Onr Trade with South Africa. 
 
 The imports from South Africa rose steadily in the fifteen South 
 years ending with 1880 from ^^2, 700, 000 to ;^5, 640,000, ^'■"^^• 
 and have continued at about the same amount since. In our 
 exports there was a rise till 1876, when there was a drop of 
 nearly a million, viz., from ^^5, 350,412 in 1875 to ;^4, 502,739 
 
 * See Table XXI. in Appendix. t See the Economist, .-^ug. 27, i88r. 
 
 D 2
 
 36 
 
 FREE TRADE V. FAIR TRADE. 
 
 in 1877. In 1S79 and 1880, owing probably to the war, and 
 not to legitimate trade, there was a great rise, and in 1880 
 they amounted to ;^7, 206,000. In 1882 they rose to 
 ;^8,ooo,ooo, but fell in 1883 to _;;^5, 000,000. 
 
 Our Trade zuilh India. 
 
 India. The imports from India on the whole decreased during the 
 
 fifteen years ending with 1880. The aggregate for the five 
 years ending 1870, was 150 millions; for the five years ending 
 1880, 143 millions. The highest year was 1866, 37 millions; 
 and the lowest 1879, 24^ millions. Since 1880 they have in- 
 creased and amounted to about 39 millions in 1882 and 1883. 
 Our exports to India have been steady, ranging from 18 to 
 25 millions, and increasing slightly in each succeeding period 
 of five years. But in 1880 there was a great jump from 
 ^22,714,682 to ^32,028,055, and this increase has been 
 maintained in subsequent years. 
 
 But there is something further to be learnt from the Indian 
 trade. Whilst in 1880 the exports to India, including bullion, 
 were 37 millions, the imports from India were only 30 mil- 
 lions ; a very remarkable fact in itself when we remember 
 that in addition to the freight, charges, and profits, which 
 we ought to receive over and above the value of our exports, 
 India has to pay us about 20 millions annually in the form 
 of tribute, for which she gets no return in goods. If this fact 
 stood alone, it might warm the heart of a Fair Trader, but it 
 would be an embarrassment to the political economist. Let us 
 see if it is capable of explanation. Omitting the year 1880, we 
 find that for the ten years ending 1879, according to the Eng- 
 lish statistics, our exports to India, including bullion, were 286 
 millions, and our imports from India 303 millions, or an annual 
 average of over 28 millions of exports to 30 millions of imports. 
 This, though more intelligible than the figures for 1880, still 
 leaves much to be explained. Two millions a year is far short 
 of what India ought to send us. Turning to the Indian statis- 
 tics, we find that for the same ten years, the imports into 
 India from the United Kingdom, were 351 million pounds, or 
 an average of 35 million pounds a year ; and that her exports 
 to the United Kingdom were 295 million pounds, or an 
 average of 29 million pounds a year; leaving an aggregate sur-
 
 PART I. — NEW COLONIAL POLICY. 37 
 
 l^lus of imports of 56 million pounds, and an annual average Circuitous 
 surplus of imports of more than five million pounds. The Trade. 
 difference between these statistics and our own is accounted 
 for partly by the fact that though the rupee has fallen in value 
 it is converted in the Indian statistics at the rate of 2s., and 
 partly by the dift'erence between the value of goods at 
 the port of shipment, and their value at the port of arrival, but 
 the Indian figures make it still more difficult to understand how 
 India manages to pay her tribute to us, more especially since 
 in the case of India there cannot be the transfer of securities 
 by which in many other cases the balance of trade is settled. 
 The exports of railway material to India, which were in fact loans 
 to India, will account for a part, but only a small part, of the 
 difference. But if we turn to another page of Indian statistics we 
 shall find the explanation. There are many countries to which 
 India, according to her own statistics, exports much more than 
 she receives from them, viz. : France, Austria, Italy, the United 
 States, China, and Ceylon. Appended is a table* giving her 
 trade with these countries for the same years — 1870 to 1879. 
 From this table it appears that the aggregate imports into India 
 from these countries during that period was 57 millions, and 
 the annual average nearly six millions ; whilst the aggregate ex- 
 port to them from India was 243 millions, and the annual 
 average above 24 millions ; leaving an aggregate surplus export 
 of 186 millions, and an average annual surplus export of 
 nearly 19 millions; which, curiously enough, is about the 
 amount of the English tribute. This coincidence is, no doubt, 
 accidental, and the real value of the exported goods when 
 they reach the place of exportation must, of course, be much 
 higher. 
 
 Now all these countries, except Italy, to which I have 
 referred before, arc countries to which, according to our own 
 statistics, England exports much less than she receives from 
 them, to the great sorrow of the Fair Traders. Perhaps they 
 will be comforted when they see that the balance is redressed 
 by means of that Indian trade which they are so desirous to 
 encourage. England buys what she needs from America, from 
 France, pnd from other countries ; India buys from England ; 
 and America, France, &c., in their turn buy from India and the 
 East. The process may be more circuitous still. For instance, 
 
 * See Table XII., in Appendix.
 
 38 
 
 FREE TRADE V, FAIR TRADE. 
 
 Circuitous 
 Trade. 
 
 Effect of 
 .Suez Canal 
 
 India exports to China much more than she receives from China, 
 averaging for the ten years ending 1 880, nearly 10 millions a year; 
 China sends to America, as well as to England, more than she 
 receives from them ; England no doubt sends manufactures to 
 India ; India sends opium, &c., to China ; China sends tea to 
 America ; America sends corn to England, and thus the 
 accounts are balanced. But however numerous the steps of 
 the process, and however circuitous the channels, trade will 
 find its way and its level. 
 
 I have dwelt on this case because it is a good illustration of 
 the folly of supposing that the statistics of the direct trade be- 
 tween any two countries give a complete account of their 
 respective dealings, and of the consequent difficulty of fore- 
 seeing the ultimate effect of anything which promotes or 
 impedes a particular branch of trade. In this case it is quite 
 possible that the European demand on America for corn may 
 have stimulated the export trade of India, which, as we have 
 seen, has largely increased in the last few years. And it is 
 also possible that if our Fair Traders could have their way in 
 checking the supply of American corn to England they might 
 be injuring that Indian trade which they are so anxious to 
 promote. 
 
 There is another observation to be made on the above 
 figures. The proportion of our trade with France and some 
 other Continental nations has slightly declined ; so has our 
 trade with all British colonies and possessions, excepting 
 Australia and India. May this not be in part due to the Suez 
 Canal, which on the one hand brings those possessions in 
 closer communication with England, and on the other hand 
 transfers the entrepot trade of the East from England to Medi- 
 terranean ports ? 
 
 With such figures as given above, it is nonsense to say 
 tliat our colonial trade is free from fluctuations; that the 
 demand for our exports is steadily and constantly on the in- 
 crease, or that it bears in each case a fixed proportion to our 
 imports. 
 
 I have added to the Appendix a table (No. XXI.), showing 
 the total imports and exports of each of the Australian colo- 
 nies, and of Canada, during the last ten years. One remark- 
 able fact is that Canadian trade is small in proportion to 
 her poj^ulation, when compared with the other colonies, and 
 stationary ; and another, that of all our colonies, New South
 
 PART I. — NEW COLONIAL POLICY. 39 
 
 Wales, the Free Trade colony, is the one in which trade has 
 progressed the most rapidly.* 
 
 From all the above figures it is clear that our direct trade Conclu- 
 with the colonies, considered in the aggregate, maintains aljout ^'°"^- 
 the same proportion to our whole trade which it did twenty ^olomal 
 years ago. It was 24 per cent, in 1866, and 25 per cent, in does not 
 1883. In the case of some colonies it is increasing, in others increase 
 diminishing. With Canada and the AVest Indies it is nearly ^°^^ °^ 
 stationary ; with Australia and India it is increasing. If is also less than 
 clear that it fluctuates as much as our direct trade with other Foreign 
 countries. ^'f;^;!^- 
 
 Some other thmgs are also made obvious by them ; for are 
 
 instance — intimately 
 
 The direct trade with our different colonies and possessions arc similar; 
 has no uniform character making it to differ from the direct and are 
 trade with foreign countries. similarly 
 
 The direct trade either with foreign countries or with the bymany 
 colonies is no complete or real indication of the whole character local and 
 of the trade. It is often circuitous, and the flow and return c^ufe's"'^^ 
 of our trade with any given country is often only completed by 
 a roundabout route through one or more other countries. To 
 restrict our trade with a foreign country may be to restrict the 
 trade of a colony, and vice versa. 
 
 The amount of our exports to and imports from each 
 foreign country and colony is at different times influenced by a 
 large number of causes altogether independent of the perma- 
 nent demand for our manufactures in that country, e.g. by such 
 things as the Franco-German war, the French indemnit}', the 
 cotton famine, the Indian tribute, the opening of the Suez 
 Canal, the war in South Africa, or in Egypt, and, perhaps, 
 above all, by the character and quantity of British investments 
 abroad. Statisticians have estimated these at ^2,000,000,000, 
 of which between three and four hundred millions are probably 
 lent to our English-speaking colonies, and between six and 
 seven hundred millions to the whole of the British Empire 
 abroad, all of which tend to cause exports as the capital is 
 lent, and imports as the interest is i)aid.t 
 
 * See Chapter XXIX. , below: 
 
 f See Economist of Feb. 9th and i6tli, 1S8.;.
 
 40 
 
 FREE TRADE V. FAIR TRADE. 
 
 CHAPTER V. 
 
 Returns of 
 Duties, 
 1859 and 
 1879. 
 
 Lord 
 
 Sandon's 
 
 return. 
 
 PROTECTION IN FOREIGN COUNTRIES. 
 
 I PROCEED to consider another assumption ot the Fair Trade 
 League — the assumption, namely, that the colonies will receive 
 our goods on better terms than foreign countries ; that they 
 are, so far at any rate as we are concerned, less commercially 
 hostile and less Protectionist. 
 
 It is not easy to follow the history in the changes of any 
 one tariff, to compare specific with ad valorem duties, and to 
 ascertain their several effects on our principal manufactures. 
 Still less easy is it to compare the history of the tariffs of 
 different countries and their several effects on our trade. But 
 before any assumption such as I have mentioned was made, 
 this ought to have been done. That it has not been done I 
 need not say. 
 
 In the programme ot the Fair Trade League it is simply 
 asserted that in our own colonies " our goods will be taken 
 if not duty free, yet subject only to revenue duties almost 
 unavoidable in newly-settled countries, and probably not equal 
 to one-third the Protective duties levied by the United States, 
 Spain, Russia, &c." 
 
 From this and similar expressions it might be supposed 
 that the tendency of foreign countries generally was to increase 
 their Protective duties, and the tendency of our colonies to 
 diminish them. It is desirable to see what the facts really are. 
 In 1879 two returns* were obtained by Mr. Talbot, giving 
 the duties levied on the principal English manufactures in the 
 colonies and in foreign countries in 1859 and in 1879 respec- 
 tively ; and a return was subsequently moved for by Lord 
 Sandon, giving the duties levied on the principal English manu- 
 factures in all foreign countries and in each of the colonies.! 
 
 * See Pari. Papers Nos. 200 and 218, of 1879, 
 t See Pari. Paper No. 333, of 1881.
 
 PART I. — NEW COLONIAL POLICY. 4I 
 
 There are also appended to this paper two tables,* the Rates of 
 one giving the actual rates of duty levied on our manu- ^"'y. •" 
 factures in the different countries and colonies at the time of countries 
 these returns, the other giving the same reduced, so far as and Colo- 
 possible, into ad valorem duties, for the purpose of comparison. '^'^^• 
 The figures in both are probably accurate enough for the 
 purpose of the present argument, but it must be borne in mind 
 that every statement of an ad valorem duty is necessarily 
 uncertain. The price of the article at the time, the place at 
 which the value is taken, the modes of estimating it, are all 
 varying and uncertain factors, so that in comparing ad valorein 
 duties with one another, and in reducing specific duties into 
 ad valorem duties, there is always large room for doubt and 
 inaccuracy. Since these tables were prepared, further changes 
 have been made, generally in a Protectionist direction ; and 
 to the most important of these I have called attention in the 
 text. Taking the different countries in succession, the general 
 features, as shown in the above returns, and taking also into 
 consideration subsequent alterations, seem to be as follows : — 
 
 Russia. 
 
 Russia made large diminutions in her heavy duties between Russia. 
 1859 and 1879. From the ist January, 1881, they have been 
 raised 10 per cent. ; but not to the extent by which they had 
 previously been diminished. As, however, the duties are now 
 paid in gold, the difference in value between paper and gold 
 made the duties in many cases as high as or higher than in 
 i860. From the -j—th July, 1882, a new tariff and revised 
 classification came into operation, affecting the greater number 
 of imported articles adversely. Several articles were removed 
 from the free list and subjected to duty, and increased duties 
 were imposed on a great number ot others. In all cases those 
 duties, which were previously charged ad vahn'cm, were changed 
 for specific. In July, 1884, coal and coke, hitherto admitted 
 free, were subjected to duty, and the duty on cast iron raised. 
 
 * See Tables XI n. and XIV. For these and otlier tables and information 
 I am indebted to Mr. E. J. Pearson, late of the Statistical Department of the 
 Board of Trade. The labour of preparing them is so great that I have not had 
 them altered so as to show changes in foreign and colonial tariffs, which have 
 been made since 1881 ; but I have in this and the follo\ving chapter called 
 attention to the most important of these changes ; for this information 1 am 
 indebted to Mr. Bateman.
 
 42 
 
 FREE TRADE 
 
 KAIR TRADE. 
 
 Holland. 
 
 On rarn") 1885, the duties on various articles were again con- 
 siderably raised. There has recently been imposed in the 
 customs duties a new duty on the importation of agricultural 
 machinery and an increased duty on herrings. 
 
 Germany. 
 
 In Germany there were very great reductions between 1S60 
 and 1870, so that the tariff previous to the late increase Avas a 
 very moderate one. In 1879 came Prince Bismarck's well- 
 known Protectionist measures, and the duties on many articles 
 of manufacture, as well as on food and raw materials, were 
 largely increased. On some few articles the German duties are 
 now higher than in i860, but in most instances they are much 
 lower ; and, high as they are, they are not now on the whole 
 so high as the duties imposed at the same time by 
 Canada. On the 21st of March, 1885, a Bill was passed, pro- 
 visionally raising the duties on cereals, malt, wine, and millers' 
 products. The Reichstag has been considering for some 
 months a proposal to raise the duties on many other articles 
 of import, and the Bill has just passed. 
 
 Holland. 
 
 In Holland there has never been an increase, and the 
 reductions have been frequent and steady. Her tariff is now 
 one of the lowest in the world, as low in fact as the tariffs of 
 our Free Trading colonies. No change since 1881. 
 
 Belgium. 
 
 In Belgium, again, witli the exception of sugar, mentioned 
 below, there has been no increase, but many reductions. Her 
 tariff, though not so low as that of Holland, is on the whole 
 lower than that of France. It will compare favourably with 
 that of Canada, if not with that of Victoria. A recent increase 
 has been made in the excise duty on sugar, and the surtax on 
 foreign sugars was increased at the same time. 
 
 France. 
 
 In France there were several diminutions of duty between 
 i860 and 1 881, The duty on woollen yarns had been increased. 
 Except in the case of iron, the duties were far lower than
 
 PART I. — NEW COLONIAL POLICY. 43 
 
 those of Canada. But a new conventional tariff came into Tariffs of 
 force in May, 1882, and extended to the United Kingdom in Foreign 
 virtue of the law of February 27th, 1882. The differences are °"" "*^^' 
 numerous, and consist in many cases in the substitution of 
 specific for ad valorem rates. On many articles the specific 
 duties hitherto enforced were considerably raised, but on the 
 other hand many important reduction? were made. On the 
 28th of April two decrees were issued, signed by the President, 
 putting in force the laws relating to increased Customs duties 
 on cattle and cereals. From time to time changes have been 
 effected in the construction of the tariff, and the tariff itself 
 appears to have been in some cases harshly applied — certainly 
 as regards imports from this country. 
 
 Dejimark. 
 
 The duties are, with a few exceptions, the same as or lower Denmark, 
 than in i860. No alteration since 18S1. 
 
 Sweden and Norway. 
 
 Sweden. — The duties have been generally reduced since Sweden. 
 i860, and in no case increased, except on spirits and sugar. 
 There has been no alteration of importance since 1881 in the 
 Swedish tariff. 
 
 Norway. — In 18S2 the existing tariff was revised, some Norw.iy. 
 duties being increased and others decreased, but in the majority 
 of cases the increases considerably preponderated over the de- 
 creases. In July, 1884, a new tariff was introduced, and 
 certain changes effected in duties on articles of export from 
 this country, there being a tendency to a slight increase. 
 
 Italy. 
 
 Between 1859 and 1879 there were large reductions. The Italy, 
 duties were subsequently increased, but not to the extent of the 
 previous reductions. A treaty of commerce was establislied 
 between Italy and France in November, 1881, and put into 
 force on the i6th May, 1882, and under this treaty some 
 important reductions were effected and extended to the United 
 Kingdom, and a law was passed on the 6th July, 1883, further 
 modifying the Customs duties, slightly decreasing them in a 
 few cases. They are, on the whole, lower now than in i860
 
 44 
 
 FREE TRADE V. FAIR TRADE. 
 
 but on some important articles of British produce tiiey are 
 higher. The taritif is now less favourable than that of France, 
 but much more favourable than that of Canada. 
 
 Portugal, 
 
 A iistro-Huugary. 
 
 The reductions between i860 and 1870 were very large 
 indeed. A considerable increase has since been made on silk, 
 cotton and woollen goods, and on leather, but the recent 
 increases are nothing like the previous reductions. A new 
 general tariff involving a considerable augmentation of duties, 
 came into force on June ist, 1882. As to articles included 
 in the Conventional tariff conceded to Italy in 1878, the 
 augmentation did not take effect on British goods ; but 
 other articles not so included are numerous. It has been 
 for some time in contemplation to considerably increase the 
 duties on many articles, and a notification has recently been 
 received to the effect that the consideration of the proposed 
 changes is to be postponed till the autumn. The Austrian 
 tariff is, on the whole, except in the matter of iron, con- 
 siderably more favourable than that of Canada. 
 
 Spain. 
 
 Spain reduced her enormous duties between 1859 and 1879, 
 but has since placed differential charges on English goods in 
 return for what she considers our differential duties on Spanish 
 wines. A new tariff came into force on August ist, 1882, but 
 reductions which were made applied, almost exclusively, to 
 imports from other countries enjoying most favoured nation 
 treatment, and therefore did not benefit British trade. On 
 July 13th, 1883, the duties on certain raw materials imported 
 into Spain were modified. Negotiations for a commercial 
 treaty with this country have been proceeding, but are broken 
 off. It is to be hoped that in reforming her tariff, the abuses 
 of her Custom House system will also be reformed, for they are 
 quite as great impediments to trade as her tariff 
 
 Poriugal. 
 
 Portugal also made some reductions in her heavy duties 
 between 1859 and 1879. A new Conventional tariff, which 
 considerably modified the old tariff, was conceded to France
 
 PART I. — NEW COLONIAL POLICY. 45 
 
 and extended to other countries by the law of June yth, 1882, Tariffs of 
 and the duties then estabhslied were of a more favourable Foreign 
 character, many reductions being made, and in several cases 
 ad valorem duties were substituted for si^ecific rates. Some 
 slight addition has since been made. 
 
 United States. 
 
 The United States are, among foreign countries, the one United 
 great exception to the rule that duties are, on the whole. States, 
 lower than before i860. Their present tariff, varying from 
 35 to 100 per cent, ad valorem, is not only much higher than 
 it had ever been in previous years, but is much higher than 
 any other of the tariffs I have referred to, and is probably as 
 near prohibition as a working tariff can be ; and yet such are 
 the beneficent laws of Providence, that, in spite of the folly of 
 man, the United States do an enormous trade with us and with 
 other countries, and have, no doubt at an immense and need- 
 less cost to themselves, the use of a large share of the good 
 things of other countries. It has been altered from time to 
 time, and considerable changes were made in 1883. Ikit its 
 general character and effect are unaltered. 
 
 On the whole the tendency of foreign countries since 1S81 
 has been to increase their protective duties. 
 
 CHAPTER VI. 
 
 PROTECTION IN THE COLONIES. 
 
 Let us now consider the case of our own colonies. The Protection 
 following appear to be the facts : — "? "^^. 
 
 Nciv South Wales. ' 
 
 The tariff here always has been and still remains very low — New South 
 lower, except in one or two particulars, than any European ^'^l^s. 
 tariff. New South Wales is, pai- excellence, a Free Trading 
 colony. There has been no change of importance since 1881.
 
 46 
 
 FREE TRADE V. FAIR TRADE. 
 
 Vicforia. 
 
 Victoria, which had in 1859 a tariff as low as New South 
 Wales, had raised her duties considerably in 1879, and has 
 raised them still more since. They are now considerable, and 
 are, on many important articles, as high as those of France, 
 Italy, or Austria, and higher than those of Holland or 
 Norway. No change of importance since 1881. 
 
 South Australia. 
 
 .South There were no import duties in 1859 ; in 1879 ^^^^ had 
 
 Austra i;i. ii-,-,pQsg(j considerable duties on various articles of British 
 
 manufacture, and these still remain. No change of importance 
 
 since 1881. 
 
 Western Australia 
 
 Western Had duties of about 7 per cent, ad valorem in 1859; many 
 
 .Australia, ^f them were increased to 10 per cent, by 1879, and they have 
 
 since been still further raised. They are now as high as, or 
 
 higher than, those of Victoria. No change of importance since 
 
 1881. 
 
 Tasma?iia. 
 
 Tasmania, There were no import duties in 1859 ; in 1879 considerable 
 duties had been imposed, which have since been raised. They 
 are now, on the whole, higher than those of Victoria. The 
 general effect of the tariff remains unaltered. 
 
 A^ew Zealand. 
 
 >few There were no import duties in 1859; in 1879 duties amount- 
 
 Zealand, ing to 10 per cent, had been imposed on many EngUsh pro- 
 ducts. These duties have since been raised, and the tariff is 
 now as high, on the whole, as those of other Australian 
 colonies. In 1881 her duty of 15 per cent, on cottons was 
 taken off. There has been no important change since. 
 
 Queen i- 
 land. 
 
 Queensland. 
 
 There were no import duties in 1859; since then duties 
 have been imposed, which, however, are not as high as those 
 of the last-named colonies, though higher than those of New 
 South ^^'ales. There has been no important change since 
 1881.
 
 PART I. — NEW COLONIAL POLICY. 47 
 
 Canada Tariffs in 
 
 Colonies. 
 Has, as is well known, largely increased her duties by her Canada, 
 tariff of 1879, ^^d has since made minor alterations, which 
 however, have not changed the Protective character of her 
 tariff. Some of these alterations certainly strike our industries. 
 Her tariff is now considerably higher than those of France, 
 Italy or Austria, and of course much higher than those of 
 Holland or Belgium. It is thoroughly Protective, whatever 
 Mr. Goldwin Smith may say to the contrary. It was expressly 
 so intended by its authors, and bids fair, if the spirit in which 
 it was proposed continues to prevail in Canada, to rival the 
 monstrous tariff of the United States. Nor is there any 
 tendency to improvement. Sir L. Tilley, on the 3rd of March 
 last, 1885, introduced his budget in an elaborate speech. He 
 is an economist who would gladden the heart of the Fair 
 Trader. He apparently thinks that he can perform the feat of 
 making goods dear to the buyer and cheap to the seller at the 
 same time. He is shocked at the excess of imports into 
 Canada; he apologises for their increase in 1883-4. He prides 
 himself on redressing the balance of trade, and on making his 
 country pay to foreign countries more than she receives from 
 them. He quotes certain figures, not undisputed, to show 
 that in consequence of what he calls his " national policy " 
 (which, it must be remembered, is a pohcy of Protection 
 against foreign, including English, goods), Canadian manu- 
 factures have increased in the number of hands em])loyed by 
 50,000, in wages paid annually by ^^3, 000,000, and in annual 
 value of products by ^^16,000,000. He seems to think that 
 this is a pure addition to the wealth of Canada, which, but for 
 his policy, would have gone to foreigners or to Englishmen, 
 instead of being, as it really is, a compulsory and artificial 
 transfer of the labour and capital of Canadians from the 
 industries in which they can produce more to industries in 
 which they can produce less, and a consequent diminution of 
 the aggregate wealth of Canada and of employment for its 
 labour — a wrong not only to the Canadian consumer, who has 
 to pay more than he would have to pay if he bought in the 
 open market, but a still greater wrong to the Canadian 
 labourer and emigrant, who is prevented from producing what 
 would give him the largest result and employ the largest 
 quantity of labour at the highest wages. At the same time,
 
 48 
 
 FREE TRADE V. FAIR TRADE. 
 
 Sir L. Tilley does not challenge the fact that in 1878, before 
 his Protectionist tariff, Canada sold abroad 4,127,000 dollars 
 worth of her own manufactures, and in 1884 only 3,500,000 
 dollars worth ; and that — whilst the population and resources of 
 Canada have greatly increased in the interval ; whilst Prince 
 Edward's Island and Manitoba have been added to the 
 Dominion ; whilst, above all, there have been enormous and 
 exceptional demands in Europe for the natural products of 
 Canada — the whole exports of Canada, including food and 
 timber, which stood at 73 millions of dollars in 1873, only 
 stood at 77 millions in 1884. He admits also that Protection 
 has had its usual effect, viz., that of fostering unnatural pro- 
 duction and causing a glut in the protected industries. He 
 congratulates himself on having transferred from Great 
 Britain to Canada the industry of sugar refining ; but admits 
 that Canada has a refinery too much. He congratulates 
 himself on having ousted the foreign cotton manufactures, 
 but admits that the protected Canadian industry has over- 
 stocked its own market, whilst at the same time it cannot 
 relieve itself by exportation. Does he look at this national 
 policy as temporary ? Quite the contrary. He contemplates 
 a duty of i'5o dollars on iron; he increased the duty on 
 printed cotton goods last year. At the present moment he is 
 revising his tariff. On woollen goods, on pickles, on cutlery, 
 on mouldings, on picture frames, on imitation precious stones, 
 on manilla hoods, on umbrellas, on china and earthenware, on 
 hardware for furnishing, on chains, on acetic acid, on tissue 
 paper, on glucose, on carpets, on labels, on sheet iron, on 
 asbestos, on axle grease, on cotton quilts, on extract of beef, on 
 foreign tobacco, the Customs duties are to be increased on the 
 sole and simple ground that these articles can be made in 
 Canada. Nothing is too big and nothing too little ; his 
 meshes catch everything. In short, a Canadian has only to 
 say that he is making something, and Sir L. Tilley is ready to 
 prevent his fellow citizens from buying of any one else. I 
 need hardly point out how many articles made in England are 
 included in the above list, nor need I again refer to the fact 
 mentioned by Sir E.. Cartwright, that the imports of British 
 goods into Canada, which w^ere of the value of 68 millions ot 
 dollars (about ;;;^ 14, 000, 000) in 1873, were 42 millions (about 
 P^9, 000,000) in 1884; or to the further fact, that our own 
 exports to the United States amount to ^38,000,000 a
 
 PART I. — NEW COLONIAL POLICY, 49 
 
 year. But I would ask my Fair Trade and Imperialist '^.'^J'''^? '" 
 friends whether, looking to the matter from their favourite Canada!' 
 point of view of exports alone, they are ready to give up 
 an export trade of nearly ^£^40,000,000 in order to encourage 
 one of less than a quarter of that sum ? and also whether the 
 l)olicy openly avowed by the successful minister of Canada is 
 such as to invite England to restrict her own production and 
 consumption in order to encourage that of Canada? Surely if 
 there is to be a rapprocheineiit it should be from the Canadian 
 side. 
 
 Cape of Good Hope. 
 
 In 1859 the duties were 7^ per cent. In 1879 they had Cape, 
 been raised to 10 per cent. An additional 15 per cent, on 
 the then existing duties was imposed in 1884. The duty on 
 many articles has since been raised to 15 per cent, ad valorem, 
 and other considerable increases made. 
 
 West Indies. 
 
 In Jamaica there are duties of 12^- per cent., which have West 
 not been altered since 1859. Indies. 
 
 In Barbadoes duties of 3 per cent, have been raised to 
 4 per cent. No substantial change since 1S81. 
 
 Alauritius. 
 
 Moderate duties exist, about 6| per cent., which have been Mauritius, 
 very slightly raised since 1S59. No substantial change since 
 1881. 
 
 Ceyion. 
 
 In Ceylon there are moderate duties, about 5 per cent , Ceylon, 
 which have been raised to 6^ per cent, since 1881. 
 
 I)idia. 
 
 In India the duties are moderate and {c^\ and, as is well India, 
 known, have been recently lowered ; and in 1882 the cotton 
 duties were taken off altogether ; but this has been done 
 not by the people, or even by the Government of India, but by 
 English influence. 
 
 From the figures given in this and the preceding chapter il 
 is clear —
 
 50 FREE TRADE 7'. FAIR TRADE. 
 
 Conclu- First. That with the important exception of the United 
 
 sion that States no foreign country has since 1859 raised its duties to a 
 tendenciel point as high as that at which they then stood, 
 are as Secondly. That several European countries have, till 
 
 strong in recently, gone on continually reducing their duties, although 
 in Foreign the tendency at the present moment is to increase them. 
 Countries. Thirdly. That there is no one of the self-governing English- 
 
 speaking colonies, except New South AVales, which has not 
 increased its duties since 1859, and that some of them, and 
 those the most important, have increased them largely. 
 
 Fourthly. That the tariffs of several of the Australian colo- 
 nies are as high as, and that of Canada higher, than the tariffs 
 of France, Italy, Austria, or Germany, and much higher than 
 the tariffs of Holland, Belgium, or Norway. 
 
 Consequently, the assertion of the Fair Traders, that whilst 
 foreign nations are refusing our goods our colonies are ready 
 to take them duty free, or subject to moderate duties, is not 
 only not correct but is the contrary of the fact. If tendencies 
 are to be judged by experience, there is as great a tendency to 
 Protection in our colonies as in foreign countries. 
 
 CHAPTER VII. 
 
 IS A CUSTOMS UNION OF THE BRITISH EMPIRE POSSIBLE? 
 
 Assump- I THINK that it has been satisfactorily proved that the special 
 uonsof assumptions on which the Fair Trade League have based 
 Traders no their demand for a differential treatment of the colonies are 
 ground for unfounded. 
 ^^y^ . , The direct trade with our colonies is about one quarter of 
 
 Colonml ,.,,,, i 
 
 Policy. our trade with the world. 
 
 The direct trade with our colonies, and especially our 
 export trade generally, has not, taking a long series of years, 
 increased faster than our trade with foreign countries. At the 
 present moment the direct trade with our Australian colonies 
 and with India is increasing, probably on account of our large 
 investments in these countries. This is a natural, and therefore 
 healthy development of our relations with them.
 
 PART I. — NEW COLONIAL POLICY. 5I 
 
 Even where our exports to our colonics appear large, and 
 those to foreign countries appear small, in comparison to our 
 imports from them, there is good reason to believe that the 
 exports to the colonies depend upon, and are often caused by, 
 the imports from foreign countries. 
 
 Our trade with our colonies is subject to fluctuations no less 
 than that from foreign countries. 
 
 The colonies, or at any rate those with whom we must treat 
 as independent and self-governing communities, show at least 
 as great a tendency to Protection as foreign countries. 
 
 There is, therefore, nothing in the existing fects to call for 
 a reversal of our settled policy of non-interference with trade ; 
 nothing to justify an attempt to check trade with foreign 
 countries in order to divert it to our colonies. On the con- 
 trary, the trade of the mother country with the colonies, and 
 her trade with foreign countries, are both progressing, and 
 they are so mingled that any attempt to check foreign trade, 
 whilst it would undoubtedly diminish the whole bulk of our 
 trade, would very probably interfere with and diminish that very 
 colonial trade which it was intended to encourage. 
 
 But is it possible to do anything by legislation to encourage B"t is a 
 our trade with the colonies ? If so, by all means let it be done. ^.^^"^ -. , 
 The motto of the Cobden Club, " Free Trade amongst all Policy 
 Nations," is entirely consistent with the earliest and utmost tiesirable 
 possible development of Free Trade with our own fellow citizens, ^rounds' 
 If there is to be choice amongst those with whom we are to do "^ 
 business, let us choose in the first instance to do it with those 
 with whom in other ways we have the closest relations. Only 
 let us be sure that we do not injure ourselves or them in so 
 doing, and that in seeking for a closer relation than that which 
 already exists, we do not strain the bonds which at present keep 
 us together. The Free Trader will not yield to the Fair Trader 
 or to the Imperialist in national pride, in jealousy for British 
 greatness, and in all that constitutes the glory of the British 
 name and character ; nay, he would be willing, where greater 
 interests are at stake, to sacrifice to them some portion of 
 material prosperity; but when restrictions on commercial liberty 
 are proposed in the interests of material prosperity, he requires 
 to have it proved that they will really promote that prosperity ; 
 and when they are proposed in the interests of imperial rela- 
 tions with our colonies, he desires to be assured that they will 
 not strain and weaken those relations. 
 E 2
 
 f'REE TRADE Z'. FAIR TRADE. 
 
 It wouldj indeed, be an object worthy of the ambition ot 
 any statesman or generation of statesmen to form a perfect 
 Customs Union, embracing the whole British Empire. If it 
 were possible to have no duties whatever in any part of that 
 Empire on goods brought from any other part of it ; if, for 
 purposes of trade, India, Canada, Australia, the Cape, and the 
 West Indies were as much one country as Yorkshire and 
 Lancashire, it would be a consummation at least as welcome 
 to the members of the Cobden Club as to the most devoted 
 Imperialist. But such a consummation is a dream. It in- 
 volves the same fiscal system in countries differing widely as 
 the poles in climate, in government, in habits, and in political 
 opinions. It is contrary to the very principles of self-govern- 
 ment. It would prevent any change in taxation in one of the 
 countries constituting the British Empire, unless the same 
 change were made in all. Desirable as it is, it may be 
 dismissed at once from practical discussion. 
 
 It has, indeed, been said that sucli a thing was at 
 one time possible, and that it has been lost by want 
 of statesmanship ; that in giving our colonies self-govern- 
 ment, we missed the opportunity of requiring them to adoj^t 
 our tariff; and that what would now be impracticable as an 
 Imperial interference with their liberties, would then have been 
 willingly adopted as a condition upon which those liberties 
 might have been granted. Such an assertion raises no prac- 
 tical question ; but it is, I believe, a complete mistake. Self- 
 taxation is of the very essence of self-government. To have 
 required such colonies as Canada and Australia to adopt our 
 system of external taxation, and to model their own internal 
 taxation accordingly, and to continue to insist on that require- 
 ment, whatever their own change ol opinion or condition might 
 be, would have been to clog the grant of selfgovernment with 
 a condition which would have destroyed its value. Free Trade 
 is of extreme importance, but Freedom is still more important ; 
 and to force I"ree Trade on a free country is a breach of the 
 fundamental principle which includes Free Trade.
 
 PART I, — NEW COLONIAL POLICY. 53 
 
 CHAPTER VIII. 
 
 PROPOSALS OF THE FAIR TRADERS FOR ENCOURAGING COLONIAL 
 TRADE ARE PROPOSALS TO RESTRICT TRADE. 
 
 Dismissing the notion ot an Imperial Customs Union to the Fair Trade 
 limbo of impracticable ideals, is it possible for anything to be Proposals 
 done by the British Parliament to promote commercial inter- ferential 
 course with the colonies ? Duties in 
 
 The course proposed by the Fair Traders is to place a coi^"[i^s 
 differential tax on articles of food which come from foreign 
 countries, and to admit food from the colonies free ; to charge 
 more on articles of luxury, such as tea and coffee, tobacco, 
 wine and spirits, coming from foreign countries than is charged 
 on the same articles coming from the colonies ; and to charge 
 adequate import duties on the manufactures of foreign countries 
 which do not admit our manufactures free of duty, whilst allow- 
 ing colonial manufactures to be admitted free of duty. 
 
 I presume this to be the meaning of the Fair Trade mani- 
 festo; but I must admit that the original document is hazy upon 
 the question whether the duty on colonial tea and other 
 luxuries is to be remitted altogether, and also upon the ques- 
 tion whether colonial manufactures are to be admitted free 
 unconditionally, or only on the condition that our manufactures 
 are admitted free into the colonies. Nor have subsequent 
 publications cleared up these doubts. 
 
 Now, the first observation on these proi)osals is that they They are 
 have for their object to divert trade by interrupting one of its proposals 
 natural channels, and therefore their effect must be to diminish ^nd^^^'"*^' 
 the whole volume of trade. They are, consequently, open to diminish 
 the fatal objection wliich makes all Protection odious to Trade. 
 Free Traders — viz., that they hinder people from buying and 
 selling where they find it to their interest to buy and sell — that 
 they limit production by preventing people from using their 
 natural capacity to the utmost in making and selling the things 
 which they can make better than others. They are restraints 
 on trade and manufacture. And when it is alleged that 
 there will be no ultimate loss, because with due encouragement
 
 54 
 
 FREE TRADE V. FAIR TRADE. 
 
 the new market will be as productive as the old one, the answer 
 is that the burden of proof lies with those who make such 
 an improbable assertion. Take Canada as an instance, 
 since Canada is the colony to which the Fair Traders point 
 as able to supply us with corn. Now, so far as Protective 
 duties are concerned, Canada is, as I have shown, fast following 
 the Protectionist example of the United States, though she 
 has a good way to go before her tariff is so obstructive to her 
 export trade as that of her great neighbour. Still, in spite of the 
 advantage Canada thus reaps from her lower tariff, she now sends 
 us only 2 '9 per cent, of our imported wheat, whilst the United 
 States send us 42*6 per cent. Of flour British North America 
 sends us 3*0 per cent, whilst the United States send us 667 
 per cent. British North America in 1883 sent us 3'2 per cent, 
 of our total food supply, whilst the United States sent us 28'9. 
 Is it conceivable, with the known advantages of people, soil, 
 and climate which the United States possess, that any restriction 
 on free production which the most audacious of Fair Traders 
 might advocate, would so far change the natural condition of 
 things as to enable Canada to displace her gigantic rival, with- 
 out diminution of the aggregate produce, and without loss to 
 the British customer? 
 
 It is needless to follow this point any further. To shut out 
 or obstruct our Foreign Trade must restrict production. 
 Leaving this general objection, let us consider the proposals 
 of the Fair 'J'raders in detail. 
 
 CHAPTER IX. 
 
 PROPOSED TAX ON FOOD. 
 
 Differential Of all the proposals of the Fair Traders, by far the most 
 Tax on important is that which contemplates a tax on foreign food, 
 keystone of This jn-Qjiosal has been scouted by the working classes, and 
 the Fair is rejected by the Conservative leaders,* and it seems superfluous 
 '^^^'^^^ to discuss it. Nevertheless, it is i:)erhaps more defensible than 
 
 proposals. , ., ,' ^^.*, ^ . ..^ 
 
 any other part of the scheme. It is the keystone of the edifice 
 
 ■•■" It lias been recently enipliatically repudiated by Sir Stafford Northcote 
 and by Lord Salisbury.
 
 PART I. — NEW COLONIAL POLICY. 55 
 
 of Fair Trade. It is the only bribe which offers a real teiiipta- Tax on 
 tion to the colonist : it is the only threat which has any terror ^'°"^'^- 
 for the United States. And if there is any interest in this 
 country which demands protection from the legislature, it is 
 that interest which is at once suffering from bad seasons and 
 from low prices, and which is deprived by foreign competition of 
 tlic compensation for bad seasons formerly found in high prices. 
 
 It is, therefore, difficult to discuss the scheme at all without 
 discussing the proposal to place a differential tax on foreign 
 articles of food. 
 
 The big loaf and the little loaf are good electioneering 
 answers, but they do not exhaust or exjilain the question, and 
 they do not convey the whole truth. 
 
 It may be interesting, in the first instance, to see where our ^Nliereckcs 
 supplies of food come from; and I annex tables* which have come from? 
 been prepared, showing the proportions in which the difterent 
 countries of the world supply us with each of our principal 
 articles of food, and a summary showing what proportion of the 
 whole each country sends. The following are the general 
 results : — • 
 
 Foreign countries send us 141 millions' worth, or 82 7 per Four-fifths 
 cent, of the whole; and our own possessions send us 2g\ poi-eien 
 millions' worth, or 17-3 per cent. The United States send us Countrits 
 2S'9 per cent. France sends us 6'8 per cent, and Ger- undone- 
 many, 9'9 per cent. ; whilst British North America only (^-oioni^".' 
 sends us 3*2 per cent., and Australia only i'4 per cent; 
 Russia sends us 67 per cent. ; India sends as much as 
 8-2 per cent. ; China sends 4*5 per cent. But India, which is 
 of all our own possessions far the largest purveyor, is beyond 
 our present purpose, since w^e already arrange her tariff as we 
 think best. The above figures include so-called luxuries, such 
 as tea, tobacco, coffee, wines and spirits. But if we exclude 
 these, and confine our attention to articles of food which are 
 not stimulants, the results will be similar. Of wheat, British 
 possessions send us 24.0 per cent, and of flour 3-4 per cent ; 
 and foreign countries, 76-0 per cent and 96-6 per cent, respec- 
 tively. Of meat, British possessions send lyo and foreign 
 countries, 83 "o per cent. Of animals for the butcher, British 
 possessions send us 13-0, and foreign countries, 8 7-0 per 
 cent. France sends us 24-0 per cent, and Holland 357 per 
 
 * See Tables X\'. and X\'L, in .\ppcnciix.
 
 56 
 
 FREE TRADE V. FAIR TRADE. 
 
 Where does cent 
 our Food 
 come from 
 
 of our aggregate importation ot butter — whilst British 
 North America only sends us 2 "2 per cent. Of bacon and hams, 
 the United States send us 787 per cent, and of cheese, 55'i 
 per cent, whilst British North America — the only colony which 
 sends us any of these articles worth mentioning — sends 
 4-9 per cent of bacon, and 25 "9 per cent of cheese. Eggs 
 come to us in large quantities from Germany, France, and 
 Belgium, but only in very small quantities from the colonies. 
 Potatoes come to us in great abundance from France, and 
 in still greater quantities from Germany, but none from 
 British America or Australia. Rice, sugar, tea and coffee are 
 almost the only articles of first-rate importance of which large 
 proportions come from our own colonies ; and these come not 
 from Canada or Australia, with whom it is proposed to make 
 tariff bargains, but from India, Ceylon, Mauritius, and the 
 West Indies, in all of which there are at present moderate 
 tariffs, and in which- — India, perhaps, excepted — the power of 
 production, and consequent market for our manufactures, is 
 extremely limited. 
 
 Looking, then, to the amount ot food we get from 
 foreigners, as compared with what we get from the colonies, 
 it is clear that to legislate with the view of changing our source 
 of supply from the one to the other is a task not to be under- 
 taken lightly or without a clear view of the results. Let us see, 
 therefore, what are the objections to it. 
 
 CHAPTER X. 
 
 WHY IS A TAX ON FOOD OBJECTIONABLE? 
 
 The reason why it is not desirable to divert the purchase of 
 food from the cheaper to the dearer market is not simply that 
 it raises the price of food. It will probably do this, and the 
 result would be most serious. According to Sir J. Caird's 
 calculations, made in 1878, our whole consumption of agri- 
 cultural produce was then worth about 370 millions; of which 
 260 were home produce and no foreign. The increase of 
 population requires an addition of fibout 4 millions annually ;
 
 PART I. — NEW COLONIAL POLICY. 57 
 
 and the proportion of foreign produce consumed has increased Effects of a 
 considerably since 1877. Assuming the consumption to be lH^^ 
 now 400 millions, and assuming that two-thirds of this is home 
 produce and one-third foreign, the effect of a general rise in 
 price of 10 per cent, would be that our population would have 
 to pay 40 millions for their food more than they now pay. 
 And supi)o.sing that this rise in price were caused by a tax on It will raise 
 food produced in foreign countries, 26 millions out of this 40 ^'^^^^' 
 would go to our own landed interest at home ; and of the 
 remaining 14 millions part would go to the Colonial food 
 grower, and the remainder only into the public exchequer. 
 This is by itself a startling conclusion. But it is far from 
 being all the evil which would result from a compulsory change 
 of market. An equally importar 'c, if not more important, result 
 would be that it would prevent both the purchaser and seller 
 from getting the most they can with the means which Provi- 
 dence has given them. 
 
 The buyer will have less to buy with, and the seller will It will also 
 have less to sell. If the English people are compelled to buy proj"'ct]o„ 
 their food at home, they will spend on the producdon of food here and 
 an amount of energy and capital which, if employed in making abroad, 
 something else, would buy a much larger quantity of food from 
 America ; and they will compel the Americans to divert the 
 capital and energy they now spend in producing food to 
 making things which can be made much better and cheaper in 
 England. 
 
 The result will be just the same if our Parliament compels 
 English people to buy their food in Canada. If they are to be 
 deterred by a differential tax from buying the cheapest food in 
 the United States, and to be compelled to buy dearer food from 
 Canada, the result will be not only that England will pay more 
 for her food, but that the Canadian producer of her food, 
 having to spend more labour and energy in producing it than 
 the United States farmer now spends on it, will have less to 
 spend on English manufactures than the United States farmer 
 has. 
 
 To this the Fair Trader makes two answers. First, that Fair Trade 
 the price of food would not be raised, because America has a answers 10 
 surplus which she must export, tax or no tax ; secondly, that a 
 rise in the price of food in this country would be a cheap price 
 for the additional market for English goods which would be 
 acquired in the colonies by buying our food there,
 
 58 
 
 FREE TRADE V. FAIR IKADE. 
 
 A Tax on 
 Food will 
 raise its 
 price. 
 
 Cobden 
 quoted 
 as an 
 authority 
 for raisiriL 
 price of 
 Food ! 
 
 It is obvious that these answers are inconsistent Avith each 
 other. If the price of corn is not raised in this country, and if 
 America is still to supply our market at present prices, there will 
 be no transfer of English purchases to the colonial market, and 
 the whole of the Fair Trade proposal Avill fail. It is only by 
 giving a higher price that we can encourage a greater growth of 
 Canadian corn. If the Fair Traders are consistent, and really 
 wish to effect their object ; if they wish to confine our custom 
 to those nations which buy freely from us, they must absolutely 
 prohibit all goods, food included, from those nations which do 
 not do so. To say we are to stop their selling, and still to 
 receive from them what we now get from them, is bloAving hot 
 and cold. But, in fact, the notion that the price of coin would 
 not be raised by a tax is absurd. The United vStates farmers 
 are not under any spell to produce a certain fixed quantity of 
 corn. They may, in a given year, under the stimulus of 
 exceptional demands, produce more corn than can be sold 
 at a remunerative price, but they v.ill not continue to do so. 
 They produce corn because we want it, and will pay them 
 a remunerative price for it. If we check that demand by 
 a tax, they will reduce their supply. The Western farmer is 
 able to send wheat to Liverpool and London because, after 
 paying cost of cultivation and of transport, the price leaves him 
 a profit. If we increase these costs by adding a tax, it will 
 reduce his market, and in many cases destroy his profit. 
 He consequently will no longer produce, and will leave his 
 farm for something else, as we knov/ too well that many emi- 
 grants have done. The result of any tax on American corn, 
 which is to transfer our custom to the Canadian market, must 
 be to raise the price of corn in this country. But, say the Fair 
 Traders, " Even if this is the case, it is no great harm. Food is 
 not a raw material of manufacture ; to raise the price of food 
 will not necessarily raise wages, for, as Cobden said, wages do 
 not rise and fall with the price of food. Our manufacturers, 
 whatever happens to our workmen, will be able to produce as 
 cheaply as before ; and they will be able to sell much more, 
 because the colony will, in return for the corn, receive their 
 manufactures duty free ; whereas the United States, by placing 
 prohibitive duties on them, do their utmost to refuse them." 
 " Even at the present time," so runs this precious argument, 
 " every quarter of wheat imported from Australia aftbrds us in 
 return sixteen times as much trade and employment as a
 
 PART I. NEW COLONIAL POLICY. 59 
 
 quarter of wheat imported from the United States, and every Tax on 
 quarter of wheat imported from Canada thirty-five times as ^'^°^^ 
 much as one imported from Russia." 
 
 One really does not know where to begin in dealing with 
 such an argument as this ! 
 
 " Food is not a raw material of manufacture ; for Cobden 
 said that wages did not rise and fall with the price of food." 
 It is diflicult not to feel indignant at such a use of Cobden's 
 name. What was it that Cobden really did say ? The Protec- 
 tionists had accused him of wishing to lower wages for the manu- 
 facturers' benefit. They said, " You are doing no good to the 
 workmen by lowering the price of corn, for Avages will be 
 lowered as the price of corn falls, and that is your real object." 
 To this Cobden replied, " You are utterly wrong : wrong in 
 your imputations, wrong in your facts. Wages do not fall with 
 the price of food ; wages have been highest when corn has been 
 lowest. Nor am I seeking, nor shall I get, low wages. Low 
 wages do not mean cheap labour. Let us buy foreign corn 
 untaxed. The price of food will probably fall, but the demand 
 for our manufactures at home and abroad will certainly increase, 
 and the w'orkmen's wages and the manufacturers' profits will 
 both rise." Cobden was right, as the workmen well know : 
 and they will no doubt understand the difference between 
 him and his mis-quoters. Cobden said, " Leave corn untaxed, 
 let food fall, and let wages rise." The Fair Traders say, " Tax 
 corn, let food rise, and let wages fall." And they quote 
 Cobden as their authority ! 
 
 But let us consider a little what the effect of raising the Effect of 
 price of food to the workman himself really is, and let us ™^'g ^f 
 omit for the present all consideration of the market for our Food on 
 manufactures caused by the purchase of food abroad. The our 
 workman's wages will go less far than they did, and the jit°home"' 
 comforts of his life will be reduced; if the labour-market and on their 
 admits of an increase in wages, he will demand and get it, Expendi- 
 and the cost of production will be increased accordingly to 
 the manufacturer ; if it does not, the workman will be reduced 
 to the alternative of either living in less comfort than he has 
 done hitherto, or of enn'grating. If he does the former, not 
 only will he and his lamily suffer, but he will be obliged to 
 spend more upon food and less upon clothing, and this in 
 itself will reduce the market for manufactures. If he emigrates, 
 so much productive labour is lost to the country. To the
 
 6o 
 
 FREE TRADE V. FAIR TRADE. 
 
 manufacturer, employer, and workman alike, any artificial 
 increase in the price of food is per se an unmixed evil, even 
 without considering its effect upon the Foreign market for our 
 manufiicturcs. Much more is it an evil to them when it is 
 remembered that the same measure which increases the price 
 of their food also prevents them from getting the full return for 
 their own expenditure of skill, capital, and labour. 
 
 CHAPTER XI, 
 
 FALLACY OF SUPPOSING THAT COLONIAL MARKETS WILL 
 COMPENSATE US. 
 
 But then, say the Fair Traders, this evil is to be compensated, 
 and more than compensated, by the additional market for our 
 manufactures which will be opened to us in the colonies. Now, 
 in the first place, I have shown that the tendency of the colonies 
 is to close, and not to open, their markets, and that in Canada 
 the duties recently imposed on our manufactures, though not 
 yet equal to the enormous duties of the United States, are 
 approaching them, and are higher than those of many foreign 
 States. But let us assume that the colonial duties on our goods 
 are and continue much lower than the foreign duties, where 
 is the new market to come from ? Does the Fair Trader think 
 that the United States farmer sends us a shipload of corn for 
 nothing, and that if we get it instead from the colonial farmer, 
 we shall still give to the United States what we now give, 
 and also give to the colonial farmer, in exchange for his 
 shipload of corn, many shiploads of manufactures which we 
 now turn to some other beneficial use? If he does think 
 this, does he think that the second transaction is much 
 better for us than the first ? And if he does not think this 
 absurdity, what can be the meaning of the astonishing state- 
 ment I have quoted above from the Fair Trade League 
 circular? He apparently takes from the statistics of trade 
 the quantity of corn imported from Australia and the United 
 States, and the quantity of our manufactures exported to 
 those countries respectively, and, finding that for every
 
 PART i. — NEW COLONIAL POLICY. 6i 
 
 quarter or Australian wheat we export to Australia sixteen Tax on 
 times as much of our manufactures as we export to the ^'"^'^ 
 United States for every quarter of United States wheat, 
 comes to the conclusion that for each quarter of Australian 
 wheat we pay sixteen times as much of our cotton and cloth 
 as for an equal quantity of United States wheat, and that 
 the transaction is consequently sixteen times as profitable, 
 not to Australia which receives, but to England which pays, 
 this wonderful price 1 These are the new prophets who 
 are to subvert the doctrines of Cobden and Peel ! The 
 fact, of course, is that for every quarter wc import, whether 
 from Australia, from Canada, from Russia, or from the 
 United States, we pay the market value — no less and no 
 more. Whether it is paid for by the export of an equal ^, 
 value of English manufactures to the United States, or by the paid in 
 export of English manufactures to India, or to some foreign goods for a 
 country, and by a further export from that country to the com'solcUn 
 United States, or even by some route more circuitous still, England is 
 or by the remittance of bullion, or by a cancellation of 'J^*; P"'^^. 'I^ 
 interest upon debt, it must be paid for by this country, and marketf 
 the price paid for it will be the value of a quarter of wheat and it is 
 in the English market. The United States farmer does not ^'l'-' ^^"^^ 
 
 . • - wherever 
 
 give us his wheat for nothing ; he takes from us whatever the com 
 the competition of the English former, the Canadian farmer, comes 
 and the Russian farmer allows him to take. The Canadian ^^°"^' 
 farmer does precisely the same. If they compete on equal 
 terms they obtain equal prices, and set going an equal 
 quantity of English labour to provide a return. If the 
 United States farmer is able to produce Avheat more cheaply 
 and abundantly than the Canadian farmer, he can give us a 
 larger quantity in return for the same quantity of our labour ; 
 in other words, both his labour and our labour go farther; 
 there is more ])roduction, and both benefit. If under these 
 circumstances we forcibly transfer the business from the United 
 States farmer to the Canadian farmer, we do not thereby get a 
 new purchaser for our goods, we only substitute a worse for a 
 better purchaser — a worse for a better supply. 
 
 But then, it is said, Canada, Protectionist as her tarift" is, is 
 less Protectionist than the United States, and does less to keep 
 our goods out of the market. If diis is the case, she and we 
 both get the benefit of it now. The Canadian farmer is so much 
 the better off, and so is our manufacturer. All the good we
 
 62 
 
 FREK TRADE 7'. FAIR TRADE. 
 
 Tax on 
 
 Food. 
 
 Confusion 
 between 
 individual 
 commercial 
 dealings 
 and Inter- 
 national 
 Treaties or 
 arrange- 
 ments. 
 
 can get by tlic lower tariff of Canada wc are now getting. 
 We shall not increase that benefit one jot by adding to the 
 obstruction now caused by the United States tariff a new 
 obstruction of our own. The United States tariff is doing 
 serious injury both to the English manufacturer and consumer 
 of corn, and to the American farmer and consumer of English 
 goods ; to the former probably less harm than to the latter, 
 because the Englishman has the rest Of the world to go to, 
 whilst the American cannot escape from his own tariff. But 
 the injury thus caused will not be diminished, but aggravated, 
 by interposing another obstruction of our own. 
 
 In short, if, under the existing Protectionist American tariff, 
 the American farmer can compete with all the world in the 
 English market, it is because what England has to pay him 
 with goes farther in the American market and produces a 
 greater return than it does elsewhere. To transfer the custom 
 forcibly to the Canadian market is to make what England 
 has to pay with Avorth less than it now is. 
 
 I sometimes think that there is a fatal confusion in the 
 minds of Fair Traders and Protectionists between a commercial 
 treaty, or arrangement between nations, and the individual 
 dealings of commerce. The Commercial Treaty assumes the 
 mischievous and delusive form of a bargain, in which we, as a 
 Free-trading nation, appear to give much and receive little. 
 Hence people are misled into a hazy conclusion that the 
 individual bargains made under such a treaty, or under what 
 is called one-sided Free Trade, are in themselves one-sided 
 and unfair, and that in the dealings between the merchants of a 
 Free-trading nation like ourselves and those of a Protectionist 
 or semi-Protectionist nation like the United States or France, 
 the Protectionist tariff causes our merchants to have the worst 
 of the bargain. But this is pure delusion, and confusion of 
 thought. The American farmer is not enabled to drive a 
 better bargain with the English manufacturer by reason of the 
 Protectionist tariff; on the contrary, of the two he is the one 
 more hampered by it. The, relaxation of that tariff v.'ould be 
 an immense boon to the Englishman, but it would be a still 
 greater boon to the American. The evil of Protection is not 
 that it benefits one party to a trade bargain at the expense of 
 the other, but that it injures both, and prevents trade bargains 
 from being made.
 
 PART I. — NEW COLONIAL POLICY. 63 
 
 CHAPTER XII. 
 
 EFFECTS OF AN ENGLISH TAX ON AMERICAN CORN ON 
 AMERICAN COMPETITION WITH ENGLISH MANUFACTURES. 
 
 But let us follow the consequences of a tax on American Tax on 
 food a little farther. America has an abundant supply of the American 
 most energetic and versatile labour in the world, and also ^n ^^.Q^,id drive 
 abundant supply of capital. At present this labour and capital America 
 are largely employed in providing Europe, and England es- f"|.°uri^n""" 
 pecially, with food, because that is the most profitable way in competi- 
 which American labour and capital can be employed. But we tion. 
 are asked to make this employment less profitable for i-er, and to 
 deprive her of her present market for her enormous agricultural 
 produce. What would be the natural result of such a step ? ^^'hy, 
 to divert her energy and capital from providing the food we want 
 to buy from her, and to drive it into providing the manufactures 
 which we want to sell to her. At present, in spite of, possibly in 
 consequence of, her system of Protection, the sale of her highly 
 forced and highly priced manufactures is in a great measure 
 confined, or nearly confined, to her own subjects, and she is no 
 rival to England in our own markets, or in the markets of the 
 world ; whilst even in her own markets our manufacturers com- 
 pete with hers. In i8So we exported to her 24!- millions of 
 manufactures, and imported from her 2^ millions. Out of her 
 total exports about to per cent, are manufactures, and 90 per 
 cent, food and raw materials, chiefly agricultural produce.* But 
 if we deprive her of her market for agricultural produce, we 
 shall drive her into manufacture, and there is no sa}ing how 
 formidable a rival she may become. 
 
 At the time of the repeal of the Navigation Laws, all the 
 best judges thought that the carrying trade of the world must 
 pass into the hands of the Americans. It has passed into 
 our own, as is shown fully below (Chapter XXXIV.). There 
 are probably several causes for this ; but the most important 
 to my mind is, that America has found in her internal 
 
 * The proportii n of manufactured articles lias slii^htly increased since 1880.
 
 64 Free trade v. fair trade. 
 
 development, and especially in her tanning, and in the 
 railways which farming creates and sustains, an industry more 
 profitable to herself and to the world than the ocean carrying 
 trade. To us the ocean carrying trade has been the more 
 profitable employment. She has done the farming, and we 
 have done the ocean carrying, to the great advantage of both. 
 If we cripple her farming, there is no saying that she may not 
 take from us our ocean carrying. 
 
 CHAPTER XIII. 
 
 OnjECTlON THAT WE ARE PAYING FOR AMERICAN CORN V,\ 
 RECEIVING BACK PRINCIPAL OF INVESTMENTS. 
 
 If America " BuT," say the Fair Traders, "granting that America must 
 
 owes us be paid in some way for the food she sends us, she is 
 
 money she pg^j(j^ not in goods, but by Setting against it the loans we have 
 
 or pay made her. In this way she is not only paying interest upon 
 
 interest, them, but is repaying to us our capital, upon which consequently 
 
 buy 'her ^^^ ^^''^ ^'^^ living." The latter assumption, viz., that America is send- 
 
 cornornot. ing back capital to us, is utterly without proof, and is probably 
 
 false.* The statement that she sends us food in payment of 
 
 interest on what we have lent her is to a great extent true. 
 
 But I am not concerned at present with the truth or falsehood 
 
 of these statements ; I only mention them for the purpose of 
 
 showing that they are ;////// ad rem. If America owes us 
 
 money, which, or the interest on which, she is now repaying 
 
 in corn, she will equally owe us this money if we transfer our 
 
 custom for corn to Canada, and if she does not repay us in 
 
 corn, she must repay us in something else. That something 
 
 else will be something which, ex hypothesi, we want less than 
 
 corn ; it may, as I have pointed out, be manufactures or freight, 
 
 which will compete with our own. 
 
 Absurdity And here I have to notice a so-called argument, which 
 
 ofsuppos- I was at first disposed to pass over as too absurd to be 
 
 mg that refilled, but which has been so often repeated that it calls for 
 
 interest on . . . 
 
 Foreign In- a passing notice. It has been stated in the following terms : — 
 
 * See below, Chapter XXI,
 
 PART I. — NEW COLONIAL POLICY. 65 
 
 " But even if it could be proved, as it certainly cannot, that all vestments 
 
 this enormous disproportion of imports has been paid for out^"'^,. 
 
 . . • supplies 
 
 of our mcome, and without any dnnmution of our investments, luxuries 
 
 that would still do nothing to reassure our working classes as to the rich, 
 regards the interests of labour. They are concerned in the 
 acquisition of imports of food in exchange for the production 
 of their industry, rather than in payment of income due to us 
 from our foreign investments. For, suppose such investments 
 to be increased fivefold ; suppose England to contain multitudes 
 of well-to-do people who owned them, and lived upon the 
 income paid to them, let us say in the shape of food from 
 America, and clothing, furniture, and luxuries from France ; is 
 it not evident that the balance of trade might be satisfactorily 
 accounted for by financiers, while our agriculture and manu- 
 factures were alike languishing, and every year affording less 
 employment, and at lower wages, to fewer workmen ? English 
 land might he forced out of cultivation by American competi- 
 tion, or turned from arable to grass to such an extent as to 
 more than half depopulate our rural districts and country 
 towns, and drive the people into the larger cities and manufac- 
 turing districts, or to emigration. The demand for manufac- 
 tures in the agricultural districts would thus be seriously 
 reduced, whilst the free import of French manufactures and 
 luxuries — preferred by the ever-increasing class who lived on 
 foreign incomes — would curtail the employment of our artisans, 
 whose wages would be still further reduced by the competition 
 of the displaced agricultural labourers. 
 
 " In one word, our imports would be acquired more and 
 more in payment of interest or rents due from abroad to 
 owners of foreign investments living in this country, and less 
 and less in exchange for the handiwork of our industrial classes, 
 and so the former would increase whilst the latter would be 
 driven first to lower wages and diminished comforts, then to 
 destitution, and finally to emigration without resources and 
 under the most painful conditions." 
 
 I find it really difficult to understand this. What is it that 
 we are importing as interest on our investments, especially from 
 America? Food and raw materials constitute nine-tenths of 
 our imports. How do the Fair Traders suppose that these are 
 consumed ? How much of them do they think the wealthy 
 and the idle put into their own stomachs or on their own backs? 
 And of the manufactures imported, how many are used by the
 
 66 
 
 FREE TRADE V. FAIR TRADE. 
 
 Interest. working classes ? Let any one cast his eye down the Hst of 
 Foreign In- British imports, and he will see that there is not one of the 
 articles mentioned in the Hst which is not either an article to 
 be used in our own industries, or an article to be used by those 
 employed in our industries. Silk, woollen and cotton manu- 
 factures, gloves, dressed skins, and wine are almost the only 
 articles in our list of imports which are not simple articles of 
 food or materials of manufacture. Assuming, which is a pre- 
 posterous assumption, that the whole of these are articles of 
 luxury, neither used by nor giving employment to the working 
 class, how much do they amount to? To about 25 millions 
 out of 410 millions of imports. The question thus raised 
 by the Fair Traders is not, it must be remembered, a 
 question of whether these imports are spent on repro- 
 ductive employment, but a question of whether they are 
 used by workers or by idlers. If the Fair Traders are 
 right, they are used by idlers ; and our workers are to be 
 driven to destitution and emigration by the loss of wages 
 and employment. Now, even if employed in unproductive 
 labour, they will not be employed in support of idleness. But 
 can it be doubted that the great bulk of these enormous imports 
 is employed in supporting reproductive labour? Every pound 
 of raw material, every article which requires further labour to 
 complete it, is imported for the purpose of employing labour 
 upon it. The food, the clothing, the common luxuries, tea, 
 coffee, tobacco, sugar, are consumed in sui)porting and making 
 tolerable the lives of millions of artisans in our factories, of 
 labourers in our fields, of workmen who are erecting, extending, 
 and improving our railways, our docks, our mines, our ships, 
 our dwellings, our shops, our schools, our churches, our towns. 
 They are employed in extending our reproductive powers, and 
 in making life comparatively healthy and pleasant, not for the 
 wealthy few, but for the toiling many. The contrast between 
 wealth and poverty is sad enough, and the excesses of luxury 
 are lamentable. But the proportion of our national income or 
 of our imports which is consumed in luxuries is a mere trifle 
 compared with that which goes to support useful labour. The 
 fear that the jxayments which foreign countries are now making 
 us as a reward for former labour will make us poorer and 
 render future labour unprodu'"ctive, is the wildest of many wild 
 chimeras. 
 
 The very contrary is notoriously the case. The recent
 
 PART I. — NEW COLONIAL POLICY. 67 
 
 depression in business has been markedly distinguished from The recent 
 earlier commercial depressions by the fact that it has affected ^'''''T^f' ?u 
 
 ^ r 1 111 -1 rr ^ "^ '"' ^hc 
 
 profits far more, and more quickly, than it has anected rich and 
 employment, wages, or the well - being of the working spared the 
 classes. Millowners, coalowners, ironmasters, landowners, ^^°°^' 
 and farmers have suffered more or less severely. But the 
 mill-hand, the miner, the workman, the labourer, until a 
 very recent period, suffered, and are even now suffering com- 
 paratively little, as is shown by a comparison of the state of 
 the country with its state at former periods of depression, and 
 by the infallible tests of pauperism and of consumption. 
 Capital has borne the brunt of the blow. By tlie simple 
 expedient of leaving things alone, and repealing the wicked 
 and pernicious laws which made scarce the food of man, 
 and curtailed the rights of labour, we have advanced one 
 step towards the millennium of the economist, the politician, 
 and the Christian philanthropist, viz., the more equal distribu- 
 tion of good things. The workmen are better off than they 
 were, and, as the action of the Trades Unions shows, they know 
 the reason why. 
 
 But even if investments abroad were the evil the Fair Transfer of 
 Traders imagine them to be, the transfer of our custom from ^^^^}° 
 foreign countries to the colonies would do little to remove it. win not 
 For we are now ^casthig (as the Fair Traders would say) prevent In- 
 our surplus earnings largely in the colonies ; we are lend- ^L,ro"'^d"'~'^ 
 ing to Australia and Canada as we have in former years lent 
 to the United States. Our investments in Canada and the 
 Australian colonies are said to amount to between 300 
 and 400 millions ; and our investments in Australia are 
 said to be increasing at the rate of more than 10 millions 
 a year, a fact which accounts for the increase of exports 
 to those colonies. Our loans to the colonies in 18S4 are 
 said to have amounted to upwards of 30 milhons.* But 
 the time must soon come when those colonies will be doing 
 as much to ruin us by paying us interest in the shape of 
 imports, as, in the opinion of the P'air Traders, the United 
 States are now doing, and then what is to become of us ? 
 If such a conclusion drives the Fair Traders to despair, it is 
 some consolation to think that it will carry comfort to the 
 heart of another great Imperialist, Sir Julius Vogel, who also 
 
 * Standard, 30th December, 1884. 
 F 2
 
 68 
 
 Free trade v. fair trade. 
 
 would like to see us exercise a large control over the colonies, 
 but who wishes us to do so in order, inter a/ia, to encourage 
 those investments of English capital in them which are the 
 terror of the Fair Traders. 
 
 The precise effect of foreign investments on our own indus- 
 tries I have dealt with more fully below. See Chapter XXII. 
 
 CHAPTER XIV. 
 
 TARIF^F BARGAINS AVITH THE COLONIES. ARE THEY POSSIBLE ? 
 
 To do so We have hitherto considered the effect of a differential tax on 
 we must foreign articles of food pure and simple, and without reference 
 dutieron^*^ to any reciprocal benefit to be derived from action to be taken by 
 the colonies. But it is possible, for the language of the Fair 
 Traders is very vague, that they mean colonial articles of food to 
 be admitted free only from those colonies and possessions which 
 admit our manufactures free, and that they mean to make the 
 differential duty a means for driving a tariff bargain with the 
 colonies. If so, an important question of principle arises, viz., 
 whether it can be worth our while at any time, or under any cir- 
 cumstances, to impose a duty on imports, which will do us an 
 immediate injury, in order that we may have a weapon where- 
 with to fight foreign countries or British colonies in making 
 tariff bargains. This question is raised explicitly by the further 
 proposal of the Fair Traders to tax foreign manufactures, and I 
 propose to consider it when dealing with that proposal in the 
 Second Part of this work. If it is to be answered in the 
 negative, as I am sure that it is, the proposal to drive a tariff" 
 bargain with the colonies by the bribe of a differential duty on 
 their competitors must fail at once. Bat I do not propose to 
 argue this large question here, and will assume that it may be 
 answered in the affirmative. Making this assumption, let us 
 consider what sort of bargains we can possibly drive with the 
 colonies, and let us consider, first, what we must give them and 
 what we can get from them ; and then, secondly, what they 
 must give to us and what they can get from us by such a 
 bargain.
 
 PART I. — NEW COLONIAI- POLICY. 69 
 
 First of all, then, as our foreign food supply is to be trans- But if wc 
 ferred to the colonies, and as they now only supply us with ^^"J- ^^■•'■'»'^ 
 one-sixth of it, we must cut off five-sixths of our present sources ^,^^^" ^J*^ 
 of supply, and trust to their being made up by countries which give ? 
 now only furnish one-sixth of it. What the effect of this may 
 be on the quantity and price of food and the welfare of the 
 people it is frightful to consider. 
 
 Secondly, we shall lose the whole of the custom for our 
 own produce arising out of purchases of food in foreign coun- 
 tries, and, as they amount to more than 140 millions a year, 
 this is a scarcely less serious consideration. 
 
 Thirdly, we shall cripple our powers of production by 
 making food dear, and be less able to compete for custom in 
 neutral markets. 
 
 Fourthly, we shall run a very serious risk of retaliation by 
 foreign countries. If we say to France, or to America, "We will 
 not buy corn, or meat, or butter, or cheese, or eggs from you," 
 they will retort by refusing to buy cotton, wool, silk, and iron 
 from us ; not only shall we ourselves cut off a very large pro- 
 portion of our foreign exports, but we shall tempt foreign 
 nations to cut off the remainder. 
 
 Taking the average of the last eighteen years, our trade 
 with foreign countries has been about three-fourths of our 
 whole trade, and our trade with British colonies and possessions 
 has been about one-fourth of it. Our whole trade, imports and 
 exports included, is 700 millions a year. We are, therefore, 
 asked to cripple and endanger three-fourths of this, or a trade 
 of more than 500 millions a year. 
 
 AVhat are we to get in exchange ? wii.u 
 
 First, we shall get so much custom for our goods in the should ^ 
 colonies as arises from the additional purchases of food we ^^'^ sc 
 make in the colonies. But, as the colonial supply of food will 
 be much less than that which we now get from foreign countries, 
 and as its price will be much higher, this market must be much 
 less valuable than that which we give u]). So far, therefore, we 
 are large and pure losers. But we shall get, in addition, what- 
 ever advantage is to be gained by the reduction our colonies 
 may make in their tarifts in return for what we do for them. 
 
 What will this amount to ? 
 
 Now, in the first place, we may eliminate India. The 
 Indian tariff we practically make ourselves. We have deter- 
 mined, rightly or wrongly, that she shall not levy duties on our
 
 70 
 
 FREE TRADE V. FAIR TRADE. 
 
 manufactures. Her consent is not asked ; we need no bargain 
 for the purpose. We may, for similar reasons, eliminate all the 
 Crown colonies. In short, the only colonies with which we can 
 make bargains are the self-governing colonies in British North 
 America, in Australasia, South Africa, and some of those in the 
 West Indies. But of these there are many which now levy 
 very small duties on our manufactures, and those by way of 
 Revenue rather than of Protective duties. With regard to these, 
 all that we can expect to get by way of a bargain is that their 
 duties shall not be raised, and this is a prospective and con- 
 tingent, not a present and certain, benefit. In fact, the only 
 colonies in which any large reduction of duties is possible are 
 Canada, Victoria, Western and South Australia, Queensland, 
 Tasmania, and New Zealand. New South Wales, one of the 
 most important of the Australian group, is free, or nearly so, 
 already. But let us take the whole of our colonies in British 
 North America, in Australia, and in South Africa, and suppose 
 that throughout them all it were possible to get a reduction of 
 duties, what would this advantage amount to? The trade of 
 the United Kingdom with the whole of these colonies, taking, as 
 before, an average of eighteen years, is about lo per cent, of 
 our whole external trade ; not much more than our trade with 
 Germany ; not so much as our trade with France ; little more 
 than half as much as our trade with the United States ; abcut 
 one-eighth of our whole trade with foreign countries. If we 
 take those colonies alone which now levy considerable duties, 
 the trade with them will not be more than one-half this amount. 
 Consequently, it is only about 5 per cent, of our whole trade 
 for which we can expect any substantial benefit by a tariff 
 bargain with our colonies, whilst the trade which we shall 
 injure and cripple by such a bargain is 75 per cent, of that 
 trade. 
 
 I think we may, then, draw tv.-o conclusions, that it is not 
 worth our while to make any such bargains; and, secondly, that 
 if we were to make any such bargains, it would be madness to 
 adhere to them, if foreign countries were to offer to reduce their 
 tariffs on condition of our repealing the differential dues on 
 their produce which such a bargain implies. 
 
 This is not, however, the view of some of our colonial 
 reformers. For instance, a writer, signing himself "Imperialist," 
 in the April number of the JSlational Revieio for 1885, urges 
 that a leading feature of the Conservative policy of the future
 
 PART I. — NEW COLONIAL POLICY. 7 I 
 
 should be "to tax foreign imports, while granting free admis- Tariff bar- 
 sion to colonial products of all kinds ; " and a similar proposal gains with 
 is advocated by Mr. Thomas Gibson Bowles in the May num- p°onos!-ils 
 berof the Fortnightly Revie7v. Mr., Stephen Bourne, the well- of Im-' 
 known statistician of the Customs, in his address at Montreal, periaiist 
 goes much further, for, after showing how Canada declines the ^ o""^*""- 
 business of the mother country, he proposes that we shall 
 deprive ourselves altogether of trade with Protectionist countries 
 in order to encourage colonies which discourage us, and that 
 Canada shall in like manner deprive herself of trade with her 
 nearest neighbour ! 
 
 The writer of the article "England and her Colonies," in 
 the April number of the Quarterly for 18S5 is more alive to the 
 difficulties of this question ; but even he, after dismissing as 
 impracticable Mr. Forster's notion of an " Imperial Zollverein 
 on the basis of this abolition of all customs or excise except 
 upon intoxicating liquors or tobacco," because the colonies 
 would not agree to it, suggests that Lord George Bentinck's 
 plan of " taxing foreign produce while admitting colonial wool 
 and other materials duty free " is the only basis on which we 
 can build any reasonable expectation of constructing an Im- 
 perial Zollverein. 
 
 In the last century we alienated our colonies from the Their 
 mother country by taxing them. In this century our colonial absurdity, 
 reformers wish to alienate the mother country by making her 
 tax herself. They seek to bind our colonies to us by leaving 
 them free to tax our products, whilst we are not only to abstain 
 from taxing theirs, but are to burden ourselves with the worst of 
 taxes in order to give them an exclusive monopoly of our 
 markets. Surely, if there is a policy which could make the 
 mother country hate her colonies it is this ! 
 
 Now let us look at such a bargain as I have described above Wiiat 
 from the colonial point of view. What would they gain and what roulnies'^ 
 would they lose ? I think we must admit that if England gave get? 
 them the monopoly of her market for food they would gain con- 
 siderably. Canada, Australia, and India would send us much 
 more corn if United States and Russian corn were excluded 
 from our ports. India would send us more tea if China were out 
 of the market, and the Cape and Australia would send us more 
 second-class wine if we could not get good wine from France 
 or Spain. Even this would not be an unqualified advantage 
 to them. The production of the world would be diminished,
 
 72 FREE TRADE V. FAIR TRADE. 
 
 Tariff bar- ^^^ they would bear some share of the loss; their people 
 gains with would be diverted from doing what they can do best, to the 
 Wh°'t"^^ providing of those things which the English market demands, 
 would they and India certainly would lose some of the trade which, as we 
 get? have seen, she now does directly or indirectly with the United 
 
 States. But it is idle to talk of such proposals as these. 
 England certainly will not contract her sources of supply to 
 such an extent. Nor will she make a sacrifice at all where she 
 gets nothing in return. She can only get a return from those 
 colonies which now impose restrictions on the import of English 
 goods. We may, therefore, as before, eliminate India and other 
 colonies or possessions which are governed from home. The 
 only colonies which can make a bargain are the self-governing 
 colonies, and amongst them those only which now levy duties 
 on English goods. That they might gain something imme- 
 diately by the bargain, I have admitted. "What Avill they have 
 to give up ? First of all, there are those colonies which only 
 levy a small duty, say 5 to lo per cent., with the bond fide 
 object of raising revenue, and without any thought of Protec- 
 tion. To these colonies, with but little realised property, and 
 with an organisation very different from those of an old country, 
 it would probably be a very serious financial difliiculty to raise 
 a revenue in any other way — a difficulty which might in itself 
 counterbalance any gain they might derive from our differential 
 tariff. Those colonies, again, such as Canada and Victoria, 
 which levy heavier duties, and which levy them avowedly for 
 purposes of Protection, would have to make a serious surrender. 
 They would, in the opinion of Free Traders, be really bene- 
 fiting themselves by reducing their tariff in our favour ; but in 
 their own opinion, and in the opinion of the Fair Traders, 
 they would be doing themselves harm. They might be 
 tempted to do it, but in doing it they would feel they had 
 made a concession to us, and we should be obliged to accept it 
 as a concession. 
 
 But suppose the concession made and the bargain com- 
 pleted. Suppose that we have excluded the United States 
 corn from our market, and that Canada has admitted English 
 goods freely to her market, what will be the condition of 
 things ? The United States may leave things alone. In that 
 case, as I have shown above, England will find herself suffering 
 from insufficient supplies, from a contracted market for her 
 goods, and from the new competition in manufactures which
 
 PART I. — NEW COLONIAL POLICY. 73 
 
 she will have forced upon the United States, She will be Tariff bar- 
 discontented and disgusted with her bargain, and with the f?'"^ y"*^ 
 
 ^, TT- ir. ■ ,!•. 1 Colonies. 
 
 Other party to it. Or the United States may retaliate by pro- ultimate 
 hibiting English goods. In that case England will be still more results, 
 discontented and disgusted. Or the United States may do that 
 which it must be the desire and object of every honest Fair 
 Trader and Reciprocitarian to make them do — they may offer 
 to throw open their market to English goods on condition that 
 England will again throw open her market to United States 
 corn. In that case England will be more than ever disgusted 
 if her bargain with Canada prevents her from accepting their 
 offer. Indeed, it is scarcely within the limits of possibility that 
 such a bargain could under such circumstances be kept. That 
 England, which now does a trade of 140 millions a year with 
 the United States, even under the present Protectionist tariff, 
 and of 2 1 millions with Canada, should refuse the proffered 
 trade of a country which has between 50 and 60 millions of 
 people and the finest soils and climates in the world, for 
 the purpose of nursing a trade with a country which has 
 between 4 and 5 millions of people and a far inferior soil 
 and climate, is too much to expect of human nature. And 
 if the bargain is not kept, or if the terms of the bargain 
 with Canada are such as to allow England to accept the 
 United States' offer, what will be the position of Canada 
 when she is thrown over, and the United States are again 
 admitted to free competition in the English market? She will 
 have been misled into an unnatural course of industry and 
 expenditure, and she will be left to her own resources when it 
 suits the convenience of England so to leave her. The Fair 
 Traders have some hazy inkling of this difficulty, for they 
 propose that the fixed duties on foreign food are to be steadily 
 maintained for a term long enough to develop our own instead 
 of foreign territories. But do they really think that this is 
 possible ; that our own people would submit to years of priva- 
 tion in order to develop a possible future in Canada or Australia 
 when that privation might be at once changed into plenty by 
 admitting foreign produce ? Are any such arrangements as 
 these likely to stand ? Are they desirable in the true interests 
 of Imperial union not to mention the commercial interests of 
 the parties concerned ? Are they likely in the end to promote 
 that good feeling between England and Canada which it is the 
 professed object of all of us to encourage ? Are they not much
 
 74 
 
 FREE TRADE V. FAIR TRADE. 
 
 Tariff bar 
 gains with 
 Colonies. 
 Any forced 
 attempt at 
 Union 
 must lead 
 to Dis- 
 union. 
 
 more likely to cause estrangement, recalcitration, and dis- 
 ruption ? To such questions there can be but one answer. 
 We may be quite certain that any forced attempt at unnatural 
 union, any unbusiness-like sacrifice of interest to sentiment, will 
 only destroy those feelings of kindness which it is the object of 
 all to promote. 
 
 I have taken the case of Canada as the most striking illus- 
 tration of the fatal difficulties which would attend any such 
 tariff bargain as we have been considering. Similar argu- 
 ments apply to the other self-governing colonies, and it is 
 unnecessary to repeat them. It seems to me abundantly clear 
 that no tariff bargain with any colony which has for its con- 
 dition a differential tax on foreign produce imported into 
 England is for a moment to be thought of 
 
 CHAPTER XV. 
 
 Can we 
 make Com- 
 mercial 
 Treaties 
 with 
 
 Colonies, 
 such as the 
 French 
 Treaty ? 
 
 Narrow 
 
 limits 
 
 within 
 
 which such 
 
 Treaties 
 
 would be 
 
 applicable. 
 
 COMMERCIAL TREATIES WITH THE COLONIES, ARE THEY 
 POSSIBLE? 
 
 A CUSTOMS union of the empire is then impracticable. An 
 attempt at a closer connection with the colonies, to be effected 
 by imposing differential taxes on foreign produce, is not to the 
 real interest either of England or, in the end, of the colonies, 
 and it is much more likely to lead to separation than to union. 
 There is yet a third method of improving commercial relations 
 with the colonies, which is scarcely suggested in the Fair Trade 
 programme, but which may deserve a few moments considera- 
 tion. It is that of a commercial treaty such as we have made 
 with France and other foreign nations ; a treaty in which we 
 impose no differential duties, but only reduce our own duties, 
 and reduce them for all equally. 
 
 Here, again, we may at once dismiss from consideration all 
 the colonies or possessions which are practically governed from 
 home ; and these, including India, will, so far as trade is con- 
 cerned, amount to one-half of the whole. 
 
 Our whole trade with our colonies is, as I have shown
 
 PART I. NF.W COI,ONI.\L POTJCV 75 
 
 above, about one-fourth of our whole trade, and it is therefore Com- 
 only one-eighth of our whole trade that can possibly be affected J^^'^^I'^g^ 
 by such a treaty. Practically it is much less ; because we do with 
 not want commercial treaties, or, indeed, alterations of any Colonies, 
 kind, except with those colonies which levy sensible duties on 
 our goods. The whole aftair is, therefore, of less moment to 
 us than it might at first sight appear. 
 
 Now, with respect to the self-governing colonics, we have, in No reason 
 giving them self-government, left them free to impose what duties agamst 
 they please, with one restriction, viz., that they shall not make Treaties 
 their duties differential ; that they shall, if they place Customs in existing 
 duties on the produce of one country, place the same duties on l^^perial 
 the produce of all. But even this restriction has been surrendered for the sclf- 
 on two special occasions. Canada, or rather the British govertilng 
 colonies in North America, were in 1854 allowed to make ^ ^°Q°inde- 
 Reciprocity treaty with the United States,* by which a large pendent, 
 number of articles, the produce of Canada and of the United 
 States respectively, were admitted duty free into each of those 
 countries, although the same goods remained subject to duty 
 when imported into those colonies from the United Kingdom, 
 or from foreign countries other than the United States. The 
 denunciation of this treaty by the United States was one of the 
 causes that led to the present Protectionist tariff in Canada; 
 and the resumption by the United States of the policy which 
 dictated that treaty would, no doubt, lead to the resumption 
 of a similar policy by Canada. Another case, rather less 
 striking, because it was between different colonies, and not 
 between a colony and a foreign nation, was that of an arrange- 
 ment between New South Wales and A^ictoria concerning the 
 Customs duties levied on the boundary between the two 
 colonies in the basin of the river Murray. In these cases, 
 the principle of equal treatment gave way to the still more 
 important principle of self-government, and to the demands for 
 freedom caused by local contiguity. And, no doubt, a similar 
 course must and will be followed when similar cases occur 
 again, as they are sure to do. Even at this moment, pro- 
 posals having this tendency are being discussed in Australia, 
 and in the case of the British West Indies. It may be all 
 very well to say, as a matter of theory, that when nations are 
 divided by great natural barriers, such as hundreds of leagues 
 
 * Treaty ratified 9th September, 1854.
 
 76 
 
 FREE TRADE V. FAIR TRADE. 
 
 Com- 
 mercial 
 Treaties 
 with 
 
 Colonics. 
 
 But are 
 there any 
 Duties on 
 Colonial 
 Produce 
 which we 
 could givt 
 up? 
 
 of sea or mountain, there is all the more reason for abolishing 
 artificial barriers. But this is not the way in which the facts pre- 
 sent themselves to the ordinary mind, I feel the need of dealing 
 freely with my neighbour across the street long before I under- 
 stand that the same need exists for freedom in my dealings 
 with an alien in China. It was by the obvious absurdity of an 
 artificial barrier between Surrey and Middlesex that Cobden 
 brought home to men's minds the much less obvious absurdity 
 of an artificial barrier between England and France. If, there- 
 fore, any strong case arises again, such as an approach to 
 commercial union between Canada and the United States, or 
 between any of the Australian colonies and their neighbours, 
 we may take it for granted that the one principle of equal 
 treatment, which we have hitherto maintained, will give way, 
 and that in this, as in other matters of taxation, the colonies 
 will exercise and enjoy complete self-government. 
 
 In short, the colonies in question are, so far as tariffs are 
 concerned, in as free and independent a position as foreign 
 nations ; and if we are to make commercial treaties with 
 foreign nations, there seems to be no priz/id fade reason why 
 we should not make similar commercial treaties with our self- 
 governing colonies. In making such treaties we should, of 
 course, be governed by the same rules as have governed us in 
 making treaties with foreign countries. We should give no 
 such differential treatment as is suggested by the Fair Traders, 
 and we should make no reductions of duties which we do not 
 consider to be for our own advantage. 
 
 The question then arises, whether there are any duties which 
 we now levy on colonial produce which we could reduce ; 
 remembering that if we reduce them for the colonies we must 
 reduce them for other countries also. Now, what are the 
 products of the self-governing colonies which we tax? The 
 only articles of this description in our tariff are cocoa, coffee, 
 chicory, dried fruit, tea, tobacco, wine, beer and spirits. The 
 exports of these articles from the colonies, according to the 
 latest returns, are as shown on the following pages, 77, 78.
 
 fAliT I. — NEW COLONIAL POLICY, 
 
 11 
 
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 78 
 
 FREE TRADE V. FAIR TRADE. 
 
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 PART I. — NEW COLONIAL POLICY. 79 
 
 India and Ceylon may be excluded, for the reasons above Commer- 
 given. I may also remark that there are large re-exports of ^^\ . 
 tea from New South Wales and Victoria, which are, no doubt, ^^ith 
 re-exports of Chinese or Indian imports, furnishing additional Colonics, 
 evidence of the circuitous nature of the trade of the East, 
 to which I have adverted above. On spirits, England is not 
 likely to make any reduction. Omitting these, the striking 
 feature in this scanty list is the total absence of any article 
 imported from those colonies with whom we might wish and 
 be able to make a tariff bargain, viz., the Korth American and 
 Australian group. Indeed, the only article in the hst which 
 affords any scope for an alteration, which the colonies would 
 accept as a boon, is wine. We know from the evidence before 
 the Wine Dudes Committee that, both at the Cape and in 
 Australia, the high duty of 2s. 6d. per gallon on wines contain- '"*^' 
 ing 26 degrees of spirit, when compared with the duty of one 
 shilling on French wines, is felt as a grievance. The quantity 
 of wine now imported from them is very small ; and whether 
 much more would be imported if the duty were reduced is, to 
 say the least, very doubtful, considering the cost of labour in 
 the colonies, and the preference in this country for French, 
 Spanish and Portuguese wine. Under these circumstances, 
 whilst admitting fully the expediency of removing any griev'- 
 ances which these colonies may have in the matter of the 
 wine duties, we may conclude that these duties are not of 
 sufficient importance to afford the means of making tariff bar- 
 gains with them. 
 
 Putting aside wine, which is at this moment imimportant. We have 
 and Hkely to continue so, it is quite obvious, tlien, that we "°'']^"/ 
 cannot with our present tariff offer any reduction to the self- 
 governing colonies which they would accept as a boon, and 
 that we are unable, therefore, to make tariff bargains of any 
 kind with them. 
 
 But there is another consideration of some importance, since 
 it illustrates the peculiarity of our commercial relations with 
 our colonies. 
 
 It is not to be expected that we should conclude any such "Most 
 tariff bargain with Canada without a most favoured nation ^r^^^j^^^- 
 clause. That clause is the Alpha and Omega of all our clause, 
 commercial treaties. It is the one point which we retain when Difficulty in 
 all others fail ; the feature on which their upholders mainly toColoifies. 
 rely ; the feature which redeems them in the eyes of those who
 
 8o 
 
 FREE TRADE V, FAIR TRADE. 
 
 Commer- 
 cial 
 
 Treaties 
 with 
 
 Colonies. 
 " Most 
 favoured 
 Nation " 
 Clause. 
 
 Otherwise dislike them. To make a tariff" bargain with Canada 
 without stipulating that we shall treat one another as well as we 
 treat the rest of the world, would be an admission that we are, 
 or are likely to be, on less intimate terms with our own colony 
 than with any foreign nation. And yet such a clause might 
 give rise — nay, w'ould be almost sure to give rise — to dangerous 
 differences. Canada and England are separated by the Atlantic ; 
 Canada and the United States are distinguished rather than 
 separated by a bridged and navigable river or by an imaginary 
 line. Trade between England and Canada has to overcome 
 natural difficulties ; trade between Canada and the United 
 States would be unchecked but for artificial difficulties. Even 
 now the Canadian trade with the United States increases 
 more rapidly than her trade with the United Kingdom. Tlie 
 people of Canada and of the United States are similar in race, 
 in language, and in habits, and are becoming more so daily. 
 Temporary and accidental circumstances have made Canada 
 and the United States assume a hostile commercial attitude ; but 
 their disputes are the quarrels of lovers, and it is pretty certain 
 that sooner or later the people of the two countries will desire 
 to trade freely with one another, to the infinite advantage of 
 both. It has happened before, and it will happen again. When 
 it happened before, Canada made a treaty by w'hich United 
 States goods were admitted into Canada on better terms than 
 English goods, and England allowed — indeed, could not help 
 allowing — the treaty. There is nothing to prevent such a thing 
 happening again. Indeed, it is of all things the most probable. 
 What, then, would be tlie feelings excited in Canada if a clause 
 in her tariff bargain with England prevented her from making 
 with the United States a bargain of ten times more importance 
 to her real interests than any bargain she could make with 
 England ? Would not such a clause go far to make her seek 
 for complete separation ? 
 
 Similar difficulties might well arise in Australia, if we were 
 to attempt to get any one of her colonies to make a separate 
 bargain with us. Their closest natural commercial relations 
 are with one another, and these they will probably prefer to 
 relations with the mother country. Nay, there have been 
 suggestions of special treaties between some of these colonies 
 and countries in America. 
 
 I have dwelt upon these points, not because I wish to 
 exaggerate or anticipate difficulties which may never arise, but
 
 PART I. — NEW COLONIAL POLICY. 8l 
 
 to show how easy it may be, in trying to draw bonds closer, to 
 strain them to snapping. Let us by all means have the utmost 
 possible commercial connection with our colonies, but no such 
 tie as may be felt by either party as a grievance. 
 
 CONCLUSIONS OF PART L AS TO A NEW 
 COLONIAL POLICY. 
 
 The general conclusion to which these considerations lead The 
 us is that there is little to be done by legislation or treaty to E»gl"sh 
 bring us into closer commercial relations with the colonies, n^g^it can 
 Except, perhaps, in the trifling matter of the wine duties, do little or 
 we have already done all that we can to clear the way on "°^^" jS ^o 
 our side. It is for the colonies to play their part. ]\Iany colonial 
 of them are doing so fairly enough. The others will do so Trade, 
 when they feel it to be their interest, without being specially 
 bribed. It is not in our power to do more. Nor is this to be 
 wondered at, when we consider that all which a Government 
 can really do for trade and manufacture is not to impede it. 
 
 All that Fair Traders and Protectionists are urging as to the Govern- 
 duty of Governments in providing markets for their people, and "J^^^u ^^" 
 other nonsense of a like kind, really means, when it comes to cannot 
 be sifted, that Governments are to check and prevent trade create 
 under pretence of guiding it ; that they are not to allow mer- '^'^^'^^' 
 chants and manufacturers to do that which is their interest to 
 do. Such a course it is contrary to our commercial interests 
 to enter upon, and it is much more likely to weaken than to 
 strengthen the political connections of the different parts of the 
 empire.
 
 RETALIATION 
 
 CHAPTER XVI. 
 
 RETALIATION ON MANUFACTURED GOODS ABSURD. 
 
 English The second of the two great principles of the Fair Traders is 
 Retaliation Retahation. They desire to impose retaUatory duties on the 
 Manufac?" goods of foreign countries which do not admit our goods duty 
 tures free. 
 
 Impotent These duties are not to apply to our food imports, which 
 
 Suicidal, have been dealt with already, nor to imports of raw material, 
 but to manufactures only. It is a sufficient practical answer to 
 a proposal of this kind that the weapon is in our hands 
 absolutely inefficacious. Of our imports, ninety per cent, are 
 estimated to be raw materials or food, and ten per cent, only 
 what arc called manufactured articles. If we take particular 
 nations, the case is stronger. Our trade with the United States 
 is one-sixth of our Avhole trade, and their tariff is the most 
 hostile of any; whilst the interest which is affected by their 
 competition is our most suffering interest. But out of their 
 imports into the United Kingdom, which exceeded loo mil- 
 lions in 1880, about 2 i- millions only were manufactures ; whilst 
 out of our exports to them 24^ millions were manufactures. 
 Will they not laugh at us ? or, if not disposed to laugh, will 
 they not treat us as they have treated the Canadians, and 
 place still further obstacles on our imports ? 
 
 To France we exported in 1880 upwards of 12 millions' 
 worth of manufactured and half-manufactured goods ; 2^ 
 millions' worth of raw material; and one million's worth of food. 
 From France we imported 23 millions' worth of manufactured 
 and half-manufactured goods, 3 millions' worth of raw materials, 
 and nearly 15^ millions' worth of food. Here there is more to
 
 PART II. — RETALIATION'. 83 
 
 retaliate upon than in the case of the United States, but the 
 proportion of manufactures which we send to France is greater 
 than the proportion which she sends to us. We send her Httle 
 but manufactures, whilst she supplies us largely Avith food. To 
 Germany we exported in 1880 nearly 14 millions' worth of 
 manufactured and half-manufactured goods, less than 2 millions' 
 worth of raw materials, and less than i| million's worth of food. 
 From Germany we imported in 1880 a little over 4!- millions' 
 worth of manufactured goods ; 3^ millions' worth of raw 
 materials, and 16^ millions' worth of food. If we are to play a 
 game at who can do most to stop each other's manufactures, it 
 is clear that Germany will have the best of the match. What 
 is true of these countries is true of others. We are par excellence 
 the manufLicturing country, and for us to play the game of 
 who can best destroy manufacturing industry is simple suicide. 
 
 CHAPTER XVII. 
 
 PROPOSAL TO TAX MANUFACTURES AND LEAVE " RAW- 
 MATERIAL " FREE— DIFFICULTY OF THE DISTINCTION. 
 
 But when we are told that raw material must be admitted free, is the 
 and that manufactures are to be taxed, I should like to ask what received 
 distinction can be drawn between these two classes of goods ^^^^, ° 
 which would justify a different treatment ? When I look down guishing 
 the list of so-called raw materials, I see nothing which is not between 
 both the produce of some previous labour and the means or Materials 
 material of some further labour ; and when I look down the list and Manu- 
 of so-called manufactured articles, I find the same thing. I [^'^j',"'"^^ 
 am unable to draw any line between the two, or to find any founded 
 principle by which to distinguish them. 
 
 If the quantity of labour employed in producing the article is 
 to be the test, the labour employed to produce so-called raw 
 materials may, and often does, far exceed the labour necessary 
 to turn that raw material into a manufactured article. There 
 may be more labour in getting coal, or in growing wool, than 
 in spinning or weaving. If we are to be guided by the 
 operation of the article as a means or a stimulus towards further 
 G 2
 
 84 FREE TRADE V. FAIR TRADE. 
 
 Raw production, I am unable to see how the raw produce of the soil 
 
 ^'d^M*'^'^ operates for this purpose more directly or more effectually than 
 factures the article into which it is subsequently converted by human 
 impossible labour. I do not see why the alkali out of which glass or 
 £r°uish^"^' chemicals are made is not as efiicient a means of production as 
 the salt out of which the alkali is made. Let us take any 
 list in which an attempt is made to distinguish between 
 raw products and manufactures. We get into difficulties at 
 once. The alkali, for instance, to which I have referred, 
 heads one list of manufactured articles, but it is chiefly 
 useful as a material to be employed in subsequent manu- 
 factures. " Apparel and haberdashery," which come next, 
 are, no doubt, manufactures as complete as it is possible to 
 conceive ; but even here the boots of the navvy, the shirt and 
 apron of the operative, the blouse of the French labourer, the 
 jersey of the sailor, or even the neat cloth coat and shirt of the 
 clerk or manager, are as much the means and essential condi- 
 tions of further production as the stone, the iron, or the wool 
 which these persons are employed in manipulating or disposing 
 of. Horses come first in one list of " raw produce ; " but a 
 farm horse is at once the final product of skill in breeding for 
 generations, and is a direct instrument in further production. 
 " Clocks " come first in another list of manufactured articles, 
 and there is certainly no more finished article of human in- 
 genuity than a clock ; but is not a clock the sine qua noii of every 
 place where productive labour is at work ? Is it not the great 
 economist of time, which is the principal of all factors in pro- 
 duction ? I might go through the list in the same way, pointing 
 out how each article of large or general use is, on the one hand, 
 the result of previous labour, and the means for further labour. 
 Nay, the same thing is true of food also. Food is the means of 
 keeping the human machine going, without which there can be 
 no productive labour ; it is the most obvious, if not the most 
 important, of raw materials ; it is to the man and woman what 
 the coals are to the steam-engine. We admit this Avhen we 
 class food and raw materials together as articles which are not 
 to be taxed, or which are to be taxed more sparingly and 
 cautiously than other things. But, like other raw materials, 
 food is not really more necessary to further production than 
 other articles of general human use. The house in which the 
 artisan lives, the clothes which he wears, the tools which he 
 uses, are no less means and instruments in making the articles
 
 PART 11. — RETALIATION. Sg 
 
 whicli he produces for sale than the food which forms his '^-iw 
 blood and muscles, the coal which drives his steam-engine, or .^„d Manu- 
 the material of fibre, of Avood, or of metal which he is converting factures 
 into use. We may go farther, and say that the so-called impossible 
 luxuries, the tea, sugar, and tobacco, which make life g^iish. 
 tolerable to himself and his children, are also instruments by 
 which his powers of production are increased. Nay, we may 
 assert, with the most exact truth, that the wine which refreshes 
 the brain of the man of science, the statesman, or the physician, 
 is in the highest degree conducive to the production of wealth. 
 All active and useful human life is one cycle of unintermitted 
 and contemporaneous production and consumption — of pro- 
 duction, in order to procure articles of consumption ; of con- 
 sumption, in order the more effectually to produce. There may, 
 of course, be useless and even mischievous consumption of exces- 
 sive or pernicious luxuries, but these are, economically speaking, 
 a trifle in the vast mass of human consumption ; and there may 
 also be foolish and ill-directed production. But, generally 
 speaking, all human consumption is a direct means of pro- 
 duction ; and this makes me doubt whether there is any real 
 sense in the commonly-received doctrine that it is better, on 
 economical grounds, to tax articles of consumption — that is, 
 articles which are in a fit state to be at once eaten, worn, or 
 otherwise used by man — than articles which he has to do some- 
 thing more to before he can use them. But this is, I am glad 
 to say, a controversy on which I need not enter ; from the Fair 
 Traders, or from some of them, I am too glad to accept the 
 admission that raw material is not to be subject to a retaliatory 
 duty ; and only mention the point now, because, if we admit 
 that manufactures are to be taxed, we may find it difticult to 
 stop there. 
 
 I have said, "or from some of them," because they are 
 not consistent with themselves. Mr. Farrer Ecroyd, for 
 instance, in a letter published by their League, considers the 
 free admission of raw materials necessary, and he is a man who 
 does not juggle with words. But in a later manifesto of the Fair 
 Trade League, published in 1S84, consisting of letters by Mr. Mr. Samp- 
 Sampson Lloyd and notes in illustration of them, I find that the j^^" ^^^°y^ ^ 
 v/riters are impressed with the above arguments concerning the 
 difficulty ofdistinguishing raw material from manufactures. What 
 is the conclusion they draw ? Not, as one might expect, the definition 
 natural conclusion, that we cannot exclude manufactures whilst of nw im-
 
 86 FREE TRADE V. FAIR TRADE. 
 
 terial as an admitting "raw materials;" but that "raw materials" must 
 which can- be defined afresh, by excluding from the term "raw materials" 
 not be pro- articles used in manufacture which can be produced at home. 
 home^i^' " -R^^^' material " thus acquires, in the language of these writers, 
 a meaning which will puzzle economists ; and the Fair Trader, 
 whilst professing in terms to give our manufacturer the free 
 import of materials, refuses to allow him to use, under that 
 designation, any foreign article used in manufacture which is 
 produced abroad and which can also be produced at home ! 
 This, of course, is Protection pure and simple, and helps to 
 show, what really needs no proof — that Fair Trade and Pro- 
 tection are the same thing. 
 
 CHAPTER XVII . 
 
 OTHER PROPOSALS FOR RETALIATION. 
 
 Arguments The Retaliation of the Fair Trade League is, as we have seen, 
 R t^T^"'^ °^ ridiculous from its impotency ; but this does not show that all 
 tion. Retaliation would be inefificient, or, if efficient, undesirable. 
 
 Proposals for Retaliation, if once adopted, will not stop where 
 the Fair Traders leave them, and there are arguments in 
 favour of the principle of Retaliation which require a more com- 
 plete answer than is to be found in the impracticability of a given 
 plan. I do not know that these arguments have ever been more 
 fairly, clearly, and vigorously stated than by Lord Salisbury, in 
 his speech at Newcastle, on the 12th October, 1881. He 
 said : — 
 J . "I now only wish to say a word with respect to a matter 
 
 Salisburyat which, perhai)s, through being exciting, occupies some con- 
 Newcastle siderable portion of public attention at the present moment, 
 in 1881. Y\_ has been said that we of the Conservative active party are 
 anxious to return to the state of things existing before 1840 in 
 respect to fiscal matters, and sundry terrible consequences 
 have been deduced from the assertion. I, for one, do not 
 possess the desire, nor do I think that such a return would 
 be for the public welfare ; but it does not do for the Government 
 to ignore the commercial difficulties under which the country
 
 PART II. RETALIATION. 87 
 
 labours by the simple device of accusing their op]joiients Arguments 
 of a desire to return to the state of things to which I [j-^-^' 
 have referred. Whenever the evil of the present state of things Lord 
 is pointed out to them, they, instead of replying, call us S-iiisbury. 
 lunatics, or beat the great tom-tom of Free Trade in order to 
 drown our voices. It is undoubtedly the fact, and I do not 
 think that any one can traverse the statement, tliat in one 
 respect the apostles of Free Trade thirty-five years ago made a 
 gigantic miscalculation when they said that if the country 
 adopted their principles the rest of the nations of the world 
 would follow their example. (Cheers.) It was repeatedly held 
 out, both by Mr. Cobden and Sir Robert Peel, and undoubt- 
 edly it influenced many minds at the time. I am very far from 
 stating that as their only reason. I do not mean to say that 
 their policy would have been difterent if they had had a 
 different belief; but they had the belief, and took every oppor- 
 tunity of communicating it to others, that our example would 
 be followed by other nations of the world. That, I take it, is 
 an undoubted fact in history. Well, that has not been the 
 case. The third of a century has passed by, and all the nations 
 by which we are surrounded have not only not become more 
 Free Trade, but on the whole have become more Protectionist. 
 America, I believe, is more Protectionist ; the Protectionist 
 feeUng is rising in France. Both of them, mind you, are 
 complete democracies, so there is no pretence for saying that 
 this particular form of opinion has been imposed by the ruling 
 classes. They are countries where it is undoubtedly the senti- 
 ment of the people, and nothing else, which governs the 
 conduct of the Government ; and in both these countries the 
 feeling of Protection has increased, and is increasing. In 
 Russia, on the other hand, a despotism of the closest type, still 
 you have the same phenomenon. A feeling of Protection is in- 
 creasing, and the measures of Protection are multiplying. In a 
 kingdom like Germany, with certain constitutional liberties, 
 but ruled undoubtedly by the acutest brain that this century 
 has seen in Europe, you still see tliis remarkable ])henomenon 
 — that the tendency towards Protection is increasing. In our 
 own colonies, where, if anywhere, we ought to have some 
 influence, there, too, unfortunately, the Protectionist feeling is 
 strong, and our own productions are shut out from the markets 
 of our own children. Now, that is a fact which I say it is idle 
 to ignore. It is childish to imagine that our example now,
 
 88 
 
 FREE TRADE 7\ FAIR TRADE. 
 
 after so many ycais, will alone have any effect upon these 
 nations. They have their own experience ; they have their 
 own philosophers to teach them. Many of them are, and 
 certainly believe themselves to be, as far advanced in intel- 
 lectual culture as ourselves. What is there to induce them to 
 defer to our judgment, and to follow our example in this 
 respect? If we intend to act upon them, we must fmd other 
 motives ; and I think we have a right to ask, without pledging 
 ourselves to any opinion until the facts are known, that there 
 should be a thorough investigation into the question whether we 
 are now pursuing the right course for the purpose of inducing 
 those other Governments in some degree to lower the terrible 
 wall of tariffs which is shutting out the productions of our 
 industry from the markets of the world. There is no reason 
 that we should pledge ourselves to any particular course until 
 the facts are known. But if you make a suggestion of this kind, 
 you are immediately told, ' This is Reciprocity and Retaliation, 
 and behind it lurks the shadow of Protection.' Reciprocity 
 and Retaliation ! But what are these commercial treaties, if 
 they do not involve the principle of Reciprocity ? Sir Charles 
 Dilke will very soon meet the French Minister of Commerce, 
 and they will be talking over the respective products of their 
 respective tariffs, and practically Sir Charles Dilke will say to 
 the French Minister of Commerce, 'If you will give me this 
 relaxation of duty upon cotton, I will give you this relaxation of 
 duty upon wine.' But what is that but Reciprocity ? And 
 when Sir Charles Dilke finds that the French Minister of 
 Commerce is difficult to deal with, he will say, ' Well, but if 
 you do not give us this duty, if you do not give us this relaxa- 
 tion upon cotton, I will not give you a relaxation of duty upon 
 wine.' What is that but Retaliation ? 
 
 " Therefore I say, ever since you adopted the principle of 
 commercial treaties, ever since that memorable date, i860, the 
 principle of what they are pleased in their own language to 
 term ' Reciprocity and Retaliation,' is conceded. 
 
 " It is merely a question of policy, arising upon the state of 
 facts in each particular case, whether you have the means of 
 any alteration of your tariff which you can with due considera- 
 tion for your own interests adopt, whether you can so do it in 
 the case of the tariff of your neighbour ; and it seems to me that 
 that is a sensible course of conduct to adopt. There is no doubt 
 that by abandoning duties which are useful to you for revenue
 
 PART II. — RETALIATION. 89 
 
 purposes you confer a great benefit upon foreign countries. Why Arguments 
 should you not ask for a price in exchange for that benefit ? ['^f. ^9' 
 Why should you not obtain for your own industries a benefit Lord 
 corresponding to that which you are conferring upon tliem ? Salisbury. 
 
 " I do not know, until inquiry has been made and oppor- 
 tunities gained of ascertaining, whether it presses either upon 
 the food of our people, or the raw material of our industry, both 
 of which must be held sacred. I do not know what oppor- 
 tunities we may have of exercising this salutary influence upon 
 foreign Powers ; but in spite of any formula, in spite of any cry 
 of Free Trade, if I saw that by raising a duty upon luxuries, or 
 by threatening to raise it, I could exercise a pressure upon foreign 
 Powers, and induce them to lower their tariffs, I should pitch 
 orthodoxy and formulas to the winds and exercise the pressure." 
 
 Now, if I wished to find a strong argument against all tarift" ihis argu- 
 bargains, I should point to this speech of Lord Salisbury's. He '"em 
 may exaggerate the sanguine views entertained by .Sir R. Peel s,^enath'^ 
 and Mr. Cobden of the prospects of universal Free Trade ; he from^'Com- 
 may also exaggerate the present tendencies of other countries to mercial 
 Protection ; and the Retaliation he suggests — viz., upon that 
 inappreciable part of our imports which consists of luxuries — 
 is, unless he means to include amongst luxuries the tea, sugar, 
 and tobacco which are the comforts of our working people — as 
 impotent as that of the Fair Traders. 
 
 But, unlike many of the Fair Traders, he states his 
 case fairly, and he puts in very clear terms the impression 
 which our commercial treaties have made, and are making, on 
 many minds besides his own — an impression from which it is 
 very difficult to escape, especially for a diplomatist. Our 
 minister at a foreign court will tell you, " Don't trouble me 
 with your arguments ; tell me with what force you will back 
 them." If the Foreign Secretary is to make a bargain, he must 
 have something to bargain with. 
 
 Lord Salisbury may, however, be thought by some Free 'J!,^;,"J5*J\^ 
 Traders to be a poor economist, and a diplomatist of a very sus- 
 picious type; but he has support where one would least expect it. 
 1 have seen arguments not very different in character in a per- 
 fectly unsuspicious quarter. In the Pall j\[all Gazette oi the Slh 
 and 1 2th August, iS8i, were some letters signed X., by an ardent 
 advocate of commercial treaties, in which, after pointing out, 
 first, that such a treaty as Cobden's, which only reduced duties 
 and gave no preferences, differs ioto ca'lo from such treaties as 
 
 Pall Mall 
 Gazette.
 
 90 FREE TRADE V. FAIR TRADE. 
 
 Arguments the INIethueii Treaty, which gave a distinct preference and stipu- 
 [°r. ^.^" lated for the maintenance of difterential duties ; and, secondly, 
 that exports are as important a factor in trade as imports — two 
 facts which no sound Free Trader would for a moment deny — the 
 writer proceeded to draw the conclusion that it is the business 
 of the Government of this, and of every other country, to do as 
 much for its exports as for its imports, and, after dismissing the 
 notion of differential duties of a protective character, suggested 
 a differential duty on wines as a legitimate means of compelling 
 France to admit our exports. A large part of his letters con- 
 sists in the exposure of the fallacy which he supposes the 
 school of Ricardo to commit when they say, "Take care of the 
 imports and the exports will take care of themselves." He points 
 out with perfect truth that a limitation on our exports is as 
 much a limitation on our trade as a limitation on our imports, 
 and he implies that however free our ports may be to foreign 
 imports it will do us little or no good if the hostile tariffs of 
 foreign countries continue to limit our exports. 
 More reck- A notion similar in substance, but much more recklessly ex- 
 vooites'of pressed, finds its utterance in the constant misrepresentations we 
 Retaliation have lately heard of the views and objects of the authors of our 
 present policy. We are told that what Mr. Ricardo, Mr. Cobden, 
 Sir Robert Peel, and others had in view, as the principal object 
 and result of their Free Trade policy, was the abolition of 
 foreign restrictions on our exports ; that they believed them- 
 selves, and prophesied to the people, that if we in England 
 would take off our duties, foreign nations would certainly take 
 off theirs ; that in this they deceived and were deceived ; that 
 foreign nations have not followed our example ; and that these 
 short-sighted politicians, were they now with us, would at once 
 admit their mistake and revise their policy. 
 Misrepre- -yy^ j^j^^^ been told, for instance, that Mr. Bright, having 
 
 the Origin raised a formidable agitation against the Corn Laws, Sir Robert 
 of the Peel, rightly or wrongly, was of opinion that it was necessary 
 
 fiffhtm^^ for the interest of the country that that agitation should be 
 hostile^ closed, and that on this account, without waiting for any nego- 
 Tariffs by tiations with foreign Powers, he introduced the system of Free 
 ports '" Trade which Mr. Gladstone has carried further. Now, what were 
 the real facts ? The first step taken by Sir Robert Peel was 
 his first reform of the Tariff in 1842, and in his cautious 
 fashion he based it rather upon financial necessities than 
 upon Free Trade principles. In doing this he had post-
 
 PART II. RETALIATION. 9 1 
 
 poned certain further reductions of dutics_. on account, Arguments 
 amongst other reasons, of commercial negotiations then in [°[ia'^jon 
 progress. Thereupon Mr. Ricardo, in two successive years. Debates of 
 1843 2,nd 1844,* brought forward a motion urging the 1843 ^^nd 
 immediate remission of our own duties without waiting to ^ ■*■*' 
 see what other nations would do. In the very interesting 
 debates upon these motions, some members, amongst others 
 Mr. Disraeli, defended the principle of Reciprocity. Sir R. Peel 
 and Mr. Gladstone clearly agreed with Mr. Ricardo in the 
 principle he advocated — a principle on which they subsequently 
 acted^ — but objected to its immediate application, and to 
 the abstract form in which his motion was couched. Mr. 
 Ricardo himself, Lord Grey (then Lord Howick), Mr. 
 Ewart, Mr. C. Villiers, and Mr. Cobden, supported the motion 
 on the ground, which was admitted on all hands to be true, 
 viz., that for 25 years we had been struggling by means of our 
 own duties to obtain reciprocal reductions from other nations, 
 and had failed entirely, a fact which is constantly and con- 
 veniently ignored by the present advocates of Reciprocity. They 
 said, further, that if the great object of this country were to 
 obtain reductions in foreign tariffs, the best way to effect it 
 would be to reduce our own, to show foreign nations that we 
 believed in our own principles, and to convince them by our 
 own consequent prosperity that our policy was the true one. In 
 their anticipations of the wisdom of foreign nations, and in their 
 under-estimate of the strength of protected interests, they were 
 perhaps too sanguine. But this was not the only ground, or 
 indeed the real ground, on which they supported the motion. 
 That ground was the principle, true then as now, that whether Our 
 foreign nations maintain their own duties or not, it is for our interest is 
 interest to abolish ours, and that if we would but do this in our our own 
 own interest our own trade must prosper, let foreign nations Protective 
 do what they will. As regards Sir Robert Peel, he has himself ^.u"ff ' 
 stated his reasons for adopting a free trade policy in one of the other 
 finest speeches he ever made.f ]\Ir. Disraeli had asserted that nations re- 
 — " We can only encounter the hostile tariffs of foreign coun- oJ^not/^'"" 
 tries by countervailing duties ; " and Sir Robert Peel's speech 
 was an emphatic refutation of tliis doctrine, and an uncompro- 
 mising defence of the oi)posite principle — viz., that you can 
 
 * See " Hans.ird," vols. 68 of 1843, and Ti of 1844. 
 t " Hansard," 1849, vol. 106, p. 1429.
 
 93 FREE TRADE V. FAIR TRADE. 
 
 Arguments j-^ggj- ^g]-,|. hostile tariffs by free im]:)orts — a principle upon which 
 taiiation. his great tariff reforms were really founded. The immediate 
 Origin of suspension of the Corn Laws was due, he said, to the temporary 
 pq[j P'"^^^"' scarcity of food ; but the ultimate repeal of that, as well as 
 of other Protection laws, he founded on principles of free 
 trade — a principle M'hich he asserted as positively, and de- 
 fended as powerfully, as Mr.- Bright, Mr. Cobden, or Mr. 
 Ricardo. These great economists were right. Their policy was 
 • adopted, and our trade did prosper. No one of these distin- 
 guished men doubted, as X. seems to suppose, that foreign pro- 
 tective tariffs are a great impediment to our trade, or that it is 
 most desirable that they should be reduced or repealed. What 
 they said was- — "A foreign tariff is one impediment; over that you 
 have no power. Your own high tariff is another and a separate 
 impediment, with an additional and cumulative effect ; over this 
 you have power. Remove the impediment over which you have 
 power, and do not wait for the removal of the further impedi- 
 ment over which you have no power. You will gain much if 
 you do not gain all. Half a loaf is better than no bread." 
 But the consideration of this fundamental question deserves a 
 new chapter. 
 
 CHAPTER XIX. 
 
 HOSTILE TARIFFS MUST BE MET BY FREE IMPORTS. 
 STATEMENT OF THE PRINCIPLE. 
 
 Fallacies in The fallacy by which X. and Lord Salisbury and many others 
 
 the argil- ^j-g misled consists in thinking of a high tariff as a complete 
 
 Lord Salis- barrier, a solid wall, a watertight sluice which allows of no 
 
 bury and passage. If this were the case, it would be quite true that one high 
 
 others. tariff is just as great an impediment to trade as two, and that 
 
 there is no use in removing one unless you can remove both. 
 
 If every foreign country were to build an impervious wall round 
 
 itself, so that no trade could enter, it would not signify how 
 
 much or how little of a wall there may be round England ; no 
 
 trade could pass either one way or the other. But even in the 
 
 pre-Huskisson days of absolute legal prohibition, the wall was 
 
 broken through by the smuggler ; and, in the present day, no
 
 PART II. — RETALIATION, 93 
 
 nation practises absolute prohibition, even on paper. The meta- Principle 
 ]:ihor of a barrier-wall misleads, as metaphors constantly do. ^p^po^rts. 
 If we are to have a metaphor, Lord Palmcrston's metaphor of 
 two turnpikes, one at each end of a bridge, each of which offers 
 some obstacle to the traffic, is a much better one. At the present tariffs im- 
 time every nation, however protective in its tendencies, does pediments 
 what it thinks best calculated to promote its own exports, and }^°J^j^^g 
 tlierefore cannot destroy but only check, its imports, which are 
 the necessary concomitants of exports. No existing tariff is 
 such as to keep out foreign goods altogether ; each tariff has its 
 weakest point, its lower and less protective duties. Moreover, 
 as a matter of fact, all nations are not protectionist. In many 
 tariffs protection is a secondary or partial object; and in other 
 countries importation is altogether free. There are, therefore, 
 abundant means of export ; there are even abundant channels, 
 often direct, often circuitous and indirect, by which, so long as 
 a protectionist country exports at all, the exports of a free 
 country can reach, and in the nature of things must reach it. 
 Trade will go on, and does go on, in spite of hostile tariffs, 
 although the number of transactions is, in consequence of such 
 tariffs, less than it otherwise might be; and each trade transaction 
 is, from its very nature, profitable to both parties engaged in it. 
 
 Let us, however, consider a little more carefully what the posi- Position of 
 tion of a nation is which opens its ports whilst other nations are ^rade 
 shutting theirs ; what our position would be, on the hypothesis country in 
 (which is untrue) that, whilst we retain a Free Trade tariff, all iiie^midst 
 other nations put heavy duties on our goods. I think it can be tectionist 
 proved that, though we shall not have as much trade absolutely countries, 
 as we should have if other nations were free like ourselves, we 
 shall be better off relatively ; the trade and the production of 
 the world will be less, but we shall have a larger share of it. 
 
 The point, though elementary, is so important that it is Effect of^ 
 worth while to consider it attentively. Let us first take the Duties as 
 simplest case, that of barter between two merchants living between 
 in two different countries, and let us think what would be the ^q° ^tries 
 effect on their dealings of a tax, imposed in either country only. 
 on the importation of the commodities in which they deal. 
 Suppose that A, a Frenchman, makes loo yards of silk in 
 France, and B, an Englishman, makes loo yards of cloth 
 in England. They exchange these one for the other. Sup- 
 pose that the French Government puts on the English cloth 
 a duty equal to the value of the cloth ; suppose, further,
 
 94 FREE TRADE 7'. FAIR TRADE. 
 
 that the cloth is a necessity to the Frenchman, and that 
 it is only to be got from England. The effect of the 
 French duty upon the Frenchman will be, that he will have to 
 pay twice as much for the same quantity of cloth as before ; in 
 other words, he will have to pay 200 yards of silk for his 100 
 yards of cloth. Then suppose that the English Government 
 puts on the French silk a duty equal to the value of the silk, 
 and suppose, as before, that the silk is a necessity to the 
 Englishman, and can only be got from France. The effect on 
 the Englishman will be that he will have to pay 200 yards of 
 cloth for his 100 yards of silk. The effect of the two duties 
 combined will be that the Frenchman will have to give 200 
 yards of silk for 100 yards of cloth, and the Englishman will 
 have to give 200 yards of cloth for 100 yards of silk — the extra 
 100 yards of silk and 100 yards of cloth going into the pockets 
 of the respective governments. 
 
 Of course, the real thing will be entirely different ; the 
 goods will not be either necessaries or monopolies ; and the 
 effect of the duties will be to transfer the industries, and, 
 in so doing, to reduce both consumption and production. 
 The effect of the French duty on the Frenchman will be 
 to make the Frenchman buy less English cloth, to make him 
 pay more for it, to make him buy inferior cloth from a French 
 maker, and to make him sell his silk to the French cloth- maker 
 for less than the Englishman would give for it. Its effect 
 on the Englishman will be to deprive him of the best market 
 for a part of his cloth, to make him buy less French silk, and 
 to make him buy something with the rest of his cloth which is 
 of less value to him than the French silk. 
 
 The further consequence of the English duty on silk 
 to the Englishman will be to make him buy less French silk, 
 to make him pay more for it, to make him buy inferior 
 English silk instead, and to make him sell his cloth to the 
 English silk manufacturer at a less price than the Frenchman 
 would give for it. Its effect on the Frenchman will be to 
 deprive him of his best market for a part of his silk, to make 
 him buy less English cloth, and to make him buy French cloth 
 instead at a higher price. 
 
 The effect of one dut}', supposing the duties still to be 
 equal, will be as great as that of the other ; they will act 
 cumulatively in transferring English and French industries from 
 what they do best to what they can do less well; the French
 
 PART II. RETALIATION. 95 
 
 industry from silk-making to cloth-making, the English in- Principle 
 dustry from cloth-making to silk-making. ^^ ^^^^ 
 
 The aggregate production of the two parties will be 
 diminished equally by both duties ; and if one duty is taken 
 off, the mischief to both parties will be just one-half what 
 it would be whilst both duties are continued. 
 
 Let us now take the case of two nations who exchange 
 goods with one another ; and let us, after the manner of 
 Bastiat, call one of them Libera and the other Vincta. 
 
 Libera determines to put no duties on the goods of Vincta 
 — Vincta puts a duty of 20 per cent, ad valorem on the goods 
 of Libera. The result will be damaging alike to Libera and 
 Vincta ; Libera will be able to sell less to Vincta, and to buy 
 less from Vincta in return ; Vincta will be able to iDuy less from 
 Libera, and will be able to sell less to Libera in return. Now, 
 suppose that Libera, irritated by Vincta's conduct, determines 
 to retaliate, and to impose in her turn a tax of 20 per cent, 
 on the goods of Vincta. What will be tlie result ? Precisely 
 the same as before, only that it will be double and cumulative. 
 Vincta will be able to sell still less to Libera, and to buy less 
 from Libera in return ; Libera will be able to buy still less from 
 Vincta, and to sell still less to Vincta in return. Both duties 
 have had an equal effect in diminishing the buying and selling on 
 both sides. But their action has been cumulative ; the duties 
 imposed by Libera have doubled the loss to each originally 
 caused by the duties imposed by Vincta. Libera has done 
 herself no good, but has done equal mischief to herself and her 
 rival by retaliation. It will even, in this case, clearly be lier 
 interest to cease following the example of Vincta, to revert 
 to her original policy, and become Libera again ; and it 
 will not be the less her interest to do so because she is 
 at the same time doing good to Vincta. 
 
 But now let us consider the case of three countries, which Effect of 
 we will call Libera and Vincta No. i and Vincta No. 2. Protective 
 Suppose that they have a triangular trade with one another, between 
 and that these three trades (that of Libera with Vincta i, that three or 
 of Libera with Vincta 2, and that of Vincta i with Vincta 2) "^°''^ . ^ 
 are each equal in amount, and that each of them is represented Abstract ' 
 by 6. Then 18 will represent the aggregate trade of all three, illustration, 
 and each will possess an equal share of it, which will be repre- 
 sented by 6. Now suppose that Vincta i and Vincta 2 each 
 put equally heavy duties on their respective imports. Libera
 
 96 
 
 FREE TRADE V. FAIR TRADE, 
 
 remaining free as before. The trade between Libera and each 
 of the others will be subject to one set of duties, but the trade 
 of Vincta i and Vincta 2 with each other will be subject to 
 two sets of duties. The aggregate exchange, and with the 
 exchange the production of all three countries, will be diminished, 
 but not in equal proportions. The trade between Vincta No. i 
 and Vincta No. 2 will be diminished in a larger proportion 
 than the trade of each with Libera. If we suppose that each 
 set of duties has the effect of diminishing the trade on which it 
 is charged by an amount represented by i, the whole diminu- 
 tion will be equal to 4, and the aggregate trade of the three 
 countries will now be represented by 14 instead of 18. Of this 
 diminution, i will fall on the trade between Libera and Vincta 
 No. I, which will now be 5 instead of 6 ; i on the trade between 
 Libera and Vincta No. 2, which will also be 5 ; and two on the 
 trade between Vincta No. i and Vincta No. 2, which will now 
 be 4. Each country will, of course, have half the trade between 
 itself and each of its neighbours, and the whole trade will now 
 be divided as follows : — Libera will have 5 instead of 6 ; Vincta 
 No. I and Vincta No. 2 will each have 4^ instead of 6. The 
 foUowinLT diatrram will make this clear : — 
 
 Before duties 6,/ 
 
 L o 
 
 After didics 
 
 \\\ the same way it may be shown that if of three countries 
 trading with one another under three tariffs equally protective, 
 one does away with Protection, the production and trade of all 
 will be increased, but the largest share of the increased trade 
 will fall to the one which opens its ports. When she opens her 
 ports she must do good to her neighbours as well as to herself, 
 though not so much good — a thing which it is important to 
 remember in examining the consequences of adopting a Free 
 Trade policy. Its adoption by one country is followed by an. 
 increase of the trade of other countries as well as of her own, 
 though her own trade reaps the greatest benefit.
 
 I'ART 11. — RETALIATI0N\ 97 
 
 1 am not very fond of illustrations of this kind. They are Principle 
 apt to appear to be mathematical demonstrations, when they S"^ '■'■'^*^ 
 are really only rude and abstract illustrations of one of the concrete 
 many elements which go to make up the infinitely complex iiiustratior. 
 and delicate conditions of human business. But taken merely 
 as an illustration, I believe the above formula represents a 
 general truth. Perhaps a more homely illustration will make 
 the matter clearer. Suppose a large village or small town with 
 three general shops in Avhich everything is sold, from lollipops 
 to hardware. Two of the shops are rented from the squire, 
 who also owns nearly all the land in the parish. He says to 
 the tenants of these two shops — " I want to do good to my 
 estate and those who live on it, and therefore I shall require 
 you, in buying for your stock-in-trade such articles as the estate 
 produces, to buy these articles from your neighbours in prefer- 
 ence to buying them from strangers. The parish produces 
 corn, wood, vegetables, fruit. There is a local pottery, a local 
 flour mill, a local forge for tools and hardware. All your stock 
 of these things you shall buy from the producers in the parish ; 
 or, if you l)uy them from strangers, you shall pay me a per- 
 centage on your purchases, to be used for the good of the 
 estate." The third shop, happening to be on a bit of land not 
 belonging to the squire, is not subject to his patriarchal 
 theories, and buys all its stock of goods, whether of a kind 
 produced in the parish or not, wherever it can buy them 
 cheapest and best. I think we can tell which of these three 
 shops will sell the best articles, will sell them at the lowest 
 prices, and will have the largest and most profitable custom. 
 The case runs on all fours with those countries of which two 
 compel their producing classes to buy their goods at home, 
 and of which the third leaves them free to buy where and 
 how they best can. 
 
 To carry our homely illustration a little farther, let us suj)- 
 pose that our squire, alarmed at the success of the independent 
 shop, and the decay of the two which belong to him, says to the 
 rest of the tenants on his estate, " I have compelled my shops, 
 for your sakes, to buy their stock of you. It is not fair, it is 
 not tolerable under such circumstances, that you should take 
 your custom to that odious free shop, or to the neighbouring 
 town. You shall buy as well as sell at the shops belonging to 
 the estate, and we will all support one another against these 
 horrid strangers." I think our squire would soon find, in his 
 H
 
 98 FREE TRADE 7>. FAIR TRADE. 
 
 Principle flitting tenants and diminished rents, ample reason for regretting 
 Imports ^^^^ ^^'^ ^^^^ meddled with their buying and selling. 
 TheNation So far, then, as artificial restrictions are concerned, and 
 which re- it is only with these we are now dealing, the country which 
 will'geMhe keeps its own ports open whilst the ports of other countries are 
 largest shut will not do as much trade as if the ports of all were open, 
 share of ]3^(. of the reduced trade which is left by the restrictions it will 
 do a larger share. If England keeps her ports open whilst the 
 United States, France, Germany, Italy, and other countries 
 shut theirs, the aggregate trade of all of them, and even the 
 actual amount of England's share, will be less than if all of 
 them were open ; but her share of what is left will be greater 
 than that of the others, and it will be proportionately greater 
 than it was when the ports were open. It is to her 
 open markets rather than to those of the closed countries 
 that each foreign country will prefer to export, and return 
 trade is apt to follow in the same channel. To her will 
 come raw materials, half-manufactured goods, food, clothing, 
 everything which aids production directly or indirectly. No 
 market is likely to be so closed against her but that she 
 will be able to get something into it, and in doing so she 
 will, by her command of the materials and instruments of 
 production, be better able to compete than her rivals, who 
 have made the materials and instruments of production dear. 
 To all open neutral markets, and they are many, she will have 
 full access. In all neutral markets, open or closed by duties, 
 she will have an advantage. Her open market will attract 
 imports; her command of all that is needed for production will 
 give comparative cheapness to her exporis. She will lose 
 absolutely some of the direct trade with her Protectionist rivals 
 which she might have had if it were not for their duties, but 
 they will lose that trade also, and she will have advantages in 
 competing with them in other markets which they will not 
 have.
 
 PART II. RETALIATION. 99 
 
 CHAPTER XX. 
 
 FIRST OBJECTION TO THE PRINCIPLE — HOME TAXATION. 
 
 The preceding chapter contains a statement of the general Are our 
 argument for fighting hostile tariffs by free imports. Let producers 
 us now consider some of the Protectionist's objections to this pensated 
 principle. for 'he 
 
 One of his favourite arguments is, that the produce of ^^^^^ ^^^^ 
 home labour, and especially of agricultural labour, is taxed, 
 whilst foreign produce comes in free ; and he proposes to put a 
 tax on foreign produce in order to redress.the injustice. 
 
 Thus the chairman of the Fair Trade League says, in his Mr. Samp- 
 letter to Lord Derby, p. 6 : " I will cite as an illustration the taxed'but'^ 
 case of a bullock bred for the home market. During the two lock, 
 and a half years it is being reared, an acre of land must be told 
 off for its support. The State claims on that land amount to 
 from twelve shillings to fifteen shillings per cent, per annum 
 depending on the county in which it is raised. Thus the 
 English bullock costs its breeder from thirty shillings to forty 
 shillings per head taxation, independently of the further in- 
 direct taxation incurred in the keep of its caretaker. The 
 agriculturist asks, therefore, fairly enough, 'Why should my 
 beast, which has contributed so much to local and imperial 
 taxation have to compete in the same market-place with 
 animals on which not a penny taxation has been paid ? ' " 
 
 Now I will not stop to inquire into Mr. Sampson Lloyd's 
 figures ; I will not inquire whether the sum is correct ; I will 
 not ask on whom the taxation falls, viz., whether upon the 
 agriculturist or upon rent ; or whether these taxes, if remitted, 
 would go into the pocket of the landlord, or help to facilitate 
 the production of beef. Let us assume that the tax is a tax on 
 productive industry, and that it is to be looked at in precisely 
 the same light as the income tax, and the rates which the 
 manufacturer pays on his business or his factory ; and let us 
 ask, on these very improbable assumptions, whether any such 
 taxation affords the slightest ground for a countervailing Cus- 
 toms Duty on an American bullock 
 H 2
 
 FREE TRADE V. FAIR TRADE. 
 
 If the Fair Traders meant that EngHsh taxation was not 
 fair as between different classes of Enghshmen, and that local 
 rates might be more fairly apportioned than they are ; if they 
 wished that accumulated personalty should bear its fair share 
 of local and imperial burdens ; above all, if they meant that the 
 incidence of taxation as between rich and poor should be fully 
 inquired into, and the injustices, if any, be redressed, the 
 demand would be a fair one, though it might, perhaps, land 
 them in unexpected conclusions. But this is obviously not 
 what they mean. If they have any intelligible meaning, it is 
 th* we shall take into consideration the taxation which falls — 
 directly or indirectly — on every branch of productive industry j 
 and shall then put upon the corresponding foreign produce a 
 Customs, duty equivalent to the taxation which the home 
 produce bears. 
 
 Now, in the first place, the assumption that foreign production 
 is untaxed, or is taxed more lightly than English production, is 
 certainly not true, and is probably the reverse of the truth. In 
 actual direct taxation per head, England compares not unfavour- 
 ably with other similar countries, whilst their taxation per head 
 is growing much faster than ours. Supposing that, instead of 
 simple taxation per head, we take the proportion which wealth 
 bears to taxation, or, in other words, the capacity to pay, as our 
 standard of comparison, England is one of the most lightly 
 taxed nations in the world. If, again, we do not confine our- 
 selves to direct taxation, the case in her favour becomes much 
 stronger. Suppose, for instance, that we take military conscrip- 
 tion into account, European nations will be found to have laid 
 on their national industries an immense additional burden, 
 which England does not lay on hers. And if, in addition, we 
 take into account the loss which foreign countries by their Pro- 
 tective systems inflict on their industries, we shall find that the 
 burden thrown on their productive powers becomes out of 
 all proportion greater than that which is imposed on English 
 industry by English taxation. 
 
 Thus Germany, France, Italy, Russia, not only rob industry 
 of a large part of its most effective labour by conscription, but 
 also make their productive industries less efficient by heavy 
 protective duties. As regards our greatest agricultural provider 
 and competitor, the United States, it has been calculated that 
 their Fiscal system imposed on the American farmer an annual 
 burden of some 400 millions of dollars, or ;^8o,ooo,ooo sterling,
 
 PART II. — RETALIATION. lOI 
 
 ill the shape of increased price of manufectures excluded by Objections 
 their Protective tariff; and that of this 400 millions, only 60 to the 
 millions found their way into the State Exchequer.* Taxation. 
 
 To burdens such as these foreign produce is subject, 
 and in addition to the cost of transit — often over many 
 thousand miles of sea and land — before it pan reach English 
 markets. 
 
 In the second place the financial problem involved in any Compensa- 
 proposal to counterbalance Home Taxation by Customs duties tory taxa- 
 is an insoluble one. It is difficult enough to ascertain the practicable, 
 exact incidence and effect of any tax or Fiscal burden at home. 
 But if we are to attempt to ascertain the effect of the ta^xation 
 of each foreign country on each article it produces, to coAipare 
 it with our own taxation of the same article, and then to impose 
 a Customs duty on each article which will make home and 
 foreign taxation equivalent, we shall introduce a system of 
 finance and of taxation more preposterously absurd and cOm- 
 I)licated than has ever yet been dreamed of. 
 
 But the whole proposal is a delusion. We cannot get rid The sug- 
 of our Fiscal burdens. Each country requires to raise a certain gestion is 
 amount of money by taxation for public purposes. One principle 
 country requires more and another less. This burden it must 
 bear. It cannot by any hocus pocus throw it on foreign 
 countries. It may shift the burden from one class to another 
 of its own citizens : it may arrange the burden so as to do as 
 little harm or as much harm as ])0ssiblc, but, assuming the 
 purposes for which it is raised to be necessary, it can no more 
 get rid of the necessity of paying for them than it can get rid 
 of its soil or climate. To compensate the English farmer, at 
 the expense of his fellow citizens, for the supposed excess, or 
 assumed excess, of taxation in England, is much the same 
 thing as to attempt to compensate him for his inferior soil or 
 sunshine ; and any attempt to do so can only result in limiting 
 the productive powers of the country as a whole. 
 
 It would indeed be a charming discovery if Governments 
 could relieve their own countrymen from taxation by simjily 
 taxing the produce of other nations. Chancellors of the E.x- 
 
 * See Mongredicn's " Western Farmers of America. " Cassell & Co. The 
 burden of these increased prices is less now. Bat this is because Protection has 
 stimulated an unhealthy growth of manufacture, and a consequent glut and 
 depression which have depressed prices, and brought ruin on the industries 
 which the system was intended to protect, 8cc below, Chapter XXXIII.
 
 102 FREE TRADE V. FAIR TRADE. 
 
 Objections chequcr would revel in their budgets, which would become, if 
 not small, yet delightfully easy ; and Jingoes would triumph in 
 the simultaneous impoverishment of their neighbours and 
 enrichment of themselves. Fortunately, or unfortunately, no 
 Chancellor of the Exchequer can do anything of the kind. He 
 cannot draw his taxes from any country but his own. He can 
 injure other nations, but not without injuring his o\a\ still more. 
 Regarded from his own point of view, Protection, in proportion 
 as it succeeds in its primary object, will destroy his revenue. 
 It will kill the goose- which lays his golden eggs. 
 
 Take two neighbouring parishes, the inhabitants of which 
 are accustomed to buy and sell from one another. One of them 
 has to go to great expense for drainage works and water supply, 
 and the parochial rates rise. Would any one be silly enough 
 to suggest that this rise of rates could be compensated by im- 
 posing a duty en: restriction on the purchase by its inhabitants 
 of goods sold by the other ? And yet this is not more 
 absurd than to suppose that we can make the Americans pay 
 our income tax or our poor rate by laying a duty on American 
 bullocks. 
 
 CHAPTER XXI. 
 
 SECOND OBJECTION TO THE PRINCIPLE — EXCESS OF IMPORTS. 
 
 Another objection which the Fair Traders make to our prin- 
 ciple of Free Imports is that Imports displace Briti-sh produc- 
 tion, and that consequently, the excess of Imports, which is 
 apparent in our recent Trade Returns, is a fatal sign of the 
 decadence of English industry. Imports are their great bug- 
 bear, and to them excess of imports means ruin. There is, per- 
 haps, no subject on which so much nonsense has been talked. 
 It is nonsense which reappears under a great variety of forms. 
 
 For instance, I find in one of the Fair Trade tracts a 
 long and graphic description of the making of a plough in 
 England, and of all the English people employed in preparing 
 the materials and putting them together. The whole culminates 
 in the sale of the English made plough to a farmer for ;^i2, 
 whilst a similar article might be imported from abroad for
 
 PART II. — RETALIATION. I03 
 
 ;^ii los. All this is for the sake of the following precious Objections 
 piece of political wisdom : — to the 
 
 " I must deal with the question in its ]jractical ?jearing, and lEffect^of* 
 tell you that the dogma, ' buy in the cheapest market,' is a Imports. 
 great delusion, for, in the case of the plough which ])roduced 
 ^\2 to the whole nation, if it could be bought from the 
 the foreigner for j£ii los. the whole nation would certainly 
 gain I OS. but would lose the ^£12 by the collapse of that special 
 industry, the nation, from the Government down to the candle- 
 stick maker, being poorer by jQii los. in distributive wealth.^'' 
 
 Astounding conclusion ! How do the Fair Traders think 
 the imported foreign plough is to be paid for? With nothing? 
 If so, then the nation will be richer not by los., but by ;^i2. 
 If with something, then with what ? Why, of course, with 
 something which English workmen can make better and 
 cheaper than they can make ploughs, and which will have to 
 be sent abroad, and there sold to pay for the plough. 
 
 Again, in another of their leaflets I find a long story about Fair Trade 
 the producer and consumer, and a long and tedious attempt notion, that 
 to show that in consulting the interest of the consumer by en- jure EnV."' 
 couraging imports we are damaging the producer, and dis- iislinien\s 
 
 COUraging exports. Producers. 
 
 In this there is a double fallacy. In the first place, pro- Fallacy of 
 ducers and consumers are really the same people, '^llie dis- distinction 
 tinction between producer and consumer is of use and of producer 
 interest in arguing questions of political economy, where the and cor- 
 different capacities in w^tich men act, and the different motives turner, 
 which impel them to action, have to be taken into account ; but 
 producers and consumers are, in real life, the same persons. 
 Every producer is a Consumer, and every consumer (except the 
 purely idle, whom we need not now consicier) is a producer. 
 The workman who produces steel rails consumes bread, meat, 
 tobacco, clothing, and a number of other things. The learned 
 classes — the engineer, the lawyer, the doctor, the statesman — 
 whilst consuming whatever is necessary for life and health, 
 assist in production no less than the workman. We arc all — 
 if we are doing anything useful — producing as well as consum- 
 ing. There is really no interest of producers separate from 
 that of consumers. We are all interested in buying what we 
 want wherever we can get it best and cheapest. 
 
 Secondly, if we look to production alone, and put con- Larg^est im- 
 sumption out of the question, it is the largest amount of free ^"^"^ *^^"^"^
 
 104 FREE TRADE V. FAIR TRADE. 
 
 largest pro- imports which will cause the largest amount of production, 
 uction. ^oi^ no doubt, of the same articles, but of articles which we can 
 l)roduce better and with more advantage to ourselves and to 
 the country than we could produce the articles which we 
 import. The moment we cease to produce such articles we 
 shall cease to import. So long as we import we may be sure 
 that we have bought those imports with our labour, and either 
 have paid, or are paying for them, with our exports. AVe can 
 pay for them in no other way. 
 The fear of But it is the growing excess of imports which fills our Fair 
 growing Trade friends with their most terrible alarms, 
 mports. rpj^g absurdity of these terrors has been so often and so fully 
 
 exposed that it is unnecessary to repeat in detail the many 
 arguments which show that our imports are large, because they 
 include the profits of our present trade, and of our past 
 savings. But it may be desirable to state the outlines of 
 the case shortly, premising that the incompleteness of our 
 Imperfcc- Statistical records makes error easy and exactness impossible ; 
 tion of for, not only do our statistics of exports omit much which is 
 ^m'^i'^^T^ really produced and sent out of the country, but all attempts 
 of Balance to Strike an exact balance of imports and exports are confused 
 of Trade, and baffled by investments, and by the traffic in securities. 
 We know that all exports of goods are made either in exchange 
 for the imports of other goods or bullion, or by way of loan to 
 be repaid hereafter by imports — and we know that imports 
 are made either in exchange for goods or bullion, with the 
 necessary additions for freight and profit, or by way of repay- 
 ment of the principal or interest of loans which we have formerly 
 made. But we do not know how much is due to each of these 
 causes, and we cannot, therefore, strike an accurate balance. 
 We do not know the exact state of our debtor and creditor 
 account with foreign countries. The difficulty is increased by 
 the fact that securities are now used as a sort of international 
 cash, and are transferred from country to country, not as per- 
 manent investments, but in place of bullion to settle the 
 balance of accounts. In consequence there is large room for 
 speculation and for error. 
 
 But all economists agree that we are a largely lending 
 country, and that we have enormous investments abroad, of 
 which the interest and profit are daily returning to us in 
 the shape of imports, The case may be put shortly as 
 follows :—
 
 PART II. — RETALIATION. 105 
 
 The excess of imports over exports in 1880 was ^, . .. 
 
 ^ ^ Objections 
 
 to the 
 
 Imports £^411,229,000 principle. 
 
 Exports ..... 286,414,000 Exce s of 
 
 ;i{^ 1 24, 8 1 5, 000 
 
 Imports. 
 
 and in 1883 it was 
 
 Imports ...... ^^426,892, 000 
 
 Kxports 305,437,000 
 
 ;,{;i2i,455,ooo 
 
 The amount of EngUsh capital constantly employed abroad Ksti^m.ite 
 in private trade and in permanent investments, including Stock i*nvesu'^" 
 Exchange securities, private advances, proi^erty owned abroad ments. 
 by Englishmen, British shipping, British owned cargoes, and 
 other British earnings abroad, has been estimated by competent 
 statisticians as being in 1880 from 1,500 to 2,000 millions, and 
 it is constantly increasing. Taking the lower figure, the interest 
 or profit upon it, at 5 per cent, would be 75 millions, and at 
 the higher figure, 100 millions. But a large proportion of this 
 amount being employed in active business, would bring in more 
 than 5 per cent, profit, probably not less than 10 per cent. 
 Supposing one-quarter to bring in that interest, we should 
 have, as the income of 1,500 millions capital, 94 millions; 
 for the income of 2,000 millions capital, 125 millions. The 
 former amount is about three-fourths of, and the latter equals, 
 the excess of imports over exports. But besides this, there is 
 the question of freights. A very large proportion of the trade of „ . ^ 
 the United Kingdom is carried in English ships, and these ships on Shipst 
 also carry a large proportion of the trade of the world which 
 does not come to England. This is, in fact, an export of 
 highly-skilled English labour and capital which does not appear 
 in the export returns, and considering that it includes not only 
 the interest on the capital invested in the ships, but wages, pro- 
 visions, coals, port expenses, repairs, depreciation, and insurance; 
 and that the value of English shipping employed in the foreign 
 trade is estimated at considerably more than 100 millions 
 sterling, the amount to be added to our exports on this account 
 must be very large. Add to this the ships built for foreigners, 
 amounting in 1880 to 70,000 tons — chiefly steam ships — the 
 ships repaired for foreigners and the ships sold to foreigners,
 
 io6 
 
 FREE TRADE V. FAIR TRADE. 
 
 amounting in 1880 to 75,000 of sailing and 36,000 of steam 
 tonnage, worth altogether several millions, which do not appear 
 in our list of exports. All these outgoings, except the small 
 part spent abroad, with the profits, must either return to 
 this country in the shape of imports, or be invested abroad. 
 From all I can learn, I believe that 50 millions is too 
 low an estimate of the amount of unseen exports, which 
 should be added on this account to the total of exports 
 visible in our statistical returns. In addition, there are the 
 commissions and other charges to agents in this country, 
 connected with the carnage of goods from country to country, 
 which are analogous in their nature to the charges of the ship- 
 owners for conveying goods, all of which appear in our accounts 
 of imports, but none of which appear in the list of exports. 
 If there is any truth in the above figures, not only is the excess 
 of imports over exports accounted for, but there is really a 
 large surplus of imports due to us, which can only be accounted 
 for by supposing that we are still investing large amounts of our 
 savings in foreign countries and in the colonies. 
 
 We need not, therefore, be afraid either that we are con- 
 suming the realised earnings of past generations, or that we are 
 ceasing to be able to earn. Though receiving more, we are 
 still earning ; and we may consume in confidence, because we 
 produce in abundance. 
 
 I cannot finish this chapter better than with Cobden's own 
 words : — * 
 
 " Now, we are met by the monopolists with this objection : 
 — If you have a Free Trade in corn, foreigners will send you 
 their wheat here, but they will take nothing in return. The 
 argument employed, in fact, amounts to this, if it amounts to 
 anything — that they will give us their corn for nothing. I 
 know not what can exceed the absurdity of these men if they 
 be honest, or their shallow and transparent knavery if they be 
 dishonest, in putting forward such an argument as that. If 
 there be a child here, I will give him a lesson which will make 
 him able to go home and laugh to scorn those who talk about 
 Reciprocity, and induce him to make fools' caps and bonfires of 
 the articles in the Morning Post or Herald. Now, I will illus- 
 trate that point. I will take the case of a tailor living in one of 
 your streets, and a provision dealer living in another, and this 
 
 See " Cobden's Speeches," p. 63. Speech in London, 8th February, 1844.
 
 PART II.— RETALIATION. I07 
 
 busybody of a Reciprocity man living somewhere between the Objections 
 two. He sees this tailor going every Saturday night empty- 'o.the 
 handed to the provision dealer, and bringing home upon his Excess of 
 shoulder a side of bacon, under one arm a cheese, and under Imports. 
 the other a keg of butter. Well, this Reciprocity man, being 
 always a busybody, takes the alarm, and says : ' There is a one- 
 sided trade going on there, I must look after it.' He calls on 
 the tailor, and says, ' This is a strange trade you are doing ! 
 You are importing largely from that provision dealer, but I do 
 not find that you are exporting any cloths, or coats, or waist- 
 coats in return ? The tailor answers him, ' If you feel any 
 alarm about this, ask the provision dealer about it ; I am all 
 right, at all events.' Away goes the Reciprocity gentleman to 
 the provision shop, and says, ' I see you arc doing a very 
 strange business with that tailor; you are exporting largely pro- 
 visions,'but I do not see that you import any clothes from him : 
 how do you get paid ? ' ' Why, man, how should I ?' replies the 
 provision dealer, ' in gold and silver, to be sure ! ' Then the 
 Reciprocity man is seized with another crotchet, and forthwith 
 begins to talk about the ' drain of bullion.' Away he flies to the 
 tailor, and says, ' Why, you will be ruined entirely ! What a 
 drain of the precious metals is going on from your till ! That 
 provision dealer takes no clothes from you ; he will have 
 nothing but gold and silver for his goods.' 'Ay, man,' replies 
 the tailor, ' and where do you think I get the gold and silver 
 from ? Why, I sell my clothes to the grocer, the hatter, the 
 bookseller, and cabinet maker, and one hundred others, and 
 they pay me in gold and silver. And pray, Mr. Busybody, 
 what would you have me do with it ? Do you think my wife and 
 family would grow fat on gold and silver ? ' Now, if there is 
 any little boy or girl in this assembly, I hope they will go home, 
 and for exercise write out that illustration of Reciprocity, and 
 show it to any of their friends who may be seized with this 
 crotchet respecting Reciprocity and the drain of gold, and see if 
 they cannot laugh them easily out of their delusions."
 
 io8 
 
 FREE TRADE V. FAIR TRADE. 
 
 CHAPTER XXII. 
 
 THIRD OBJECTION- 
 
 -INVESTMENT OF ENGLISH CAPITAL 
 ABROAD. 
 
 In the last chapter, and elsewhere, I have spoken of our 
 foreign investments as matters which have great influence on 
 our foreign trade ; and our Fair Trade friends have a good 
 deal to say about and against them. It is true that they are, 
 as usual, absolutely inconsistent with each other and with them- 
 selves. When we point to the indebtedness of foreign countries 
 to England as one reason for the excess of imports, they tell us 
 that we have been paying for our imports by the return to us of 
 foreign securities ; and at the same time they complain bitterly 
 that, instead of spending our money at home, our rich men are 
 constantly investing their money abroad, and thus robbing 
 English labour of its rights here. Here is one of their appeals 
 to working men of England : — - 
 
 " Free Traders tell you that these imports are the conse- 
 quence of our foreign investments. Is it any compensation to 
 the working men of England to know that work w'hich is their 
 birthright is being done by foreigners for the advantage and 
 benefit of a few rich people who have invested their capital out 
 of their own country ? "* And, again, Mr. Sampson Lloyd says : 
 " By the virtue of foreign investments, by the power of utilising 
 capital to equal if not greater advantage in the employment of 
 labour on foreign soil, monied interests thrive and flourish, and 
 home industry is handicapped by the very sources of their 
 prosperity." t Similar quotations might be multiplied if it were 
 worth while. 
 
 With one part of this subject, viz., the notion that the excess 
 imports due to foreign investments go to swell the fortune or 
 increase the business of the rich man and fail to reach the 
 working classes, I have dealt above in Chapter XIII. , where I 
 have shown that our excess of imports being for the most part 
 
 * Fair Trade Tracts, No. 15. 
 
 f Letter from Mr. Sampson Lloyd to Lord Derby of 14th July, 1882
 
 TART II. — RETALIATION. I09 
 
 Cither raw material for manufactures, or common food, must go objections 
 to provide workmen witl"i the means of industry or the means to the 
 of Hving. But it is worth while to consider more carefully the p""eign'^in. 
 operation of an investment made by an Englishman in a foreign vestments, 
 industry, and to see what is its effect on English industry com- Interest of 
 l)ared with investments made at home. I speak now not of the men!'"^ 
 case of absentees who spend their winters on the Riviera or in (2) in the 
 Paris, and their summers in Switzerland, and who consume in exports by 
 
 , ' . , . . . . ' 1 • • %vhich the 
 
 those countries the monies they derive from their investments, investment 
 whether at home or abroad. I speak of the Englishman is made, 
 who has his home and employment in England, who in- 
 vests larger or smaller sums of money in American, Australian, 
 or other foreign securities, and who draws from them an 
 annual income. What is his object in making the investment ? 
 Why does he put his money into foreign railways or foreign 
 land companies rather than into farms, or manufactures, or 
 railways in England ? Simply and solely because he makes 
 more by so doing. In general he will prefer an English security, 
 under the protection of his own laws and government, unless 
 the foreign security offers him some advantage in the shape of 
 higher interest. Does he do his own country any harm in 
 yielding to the temptation ? Let us take an individual case, 
 and see how it works. 
 
 An Englishman, whom we will call Johnson, is the owner 
 of a farm in England, of (say) 300 acres, much of it arable, 
 which he cultivates himself. 
 
 It costs him in labour ^500 a year, and he employs (say) 
 16 labourers at an average of 12s. a week. At present 
 prices of agricultural produce the farm is a dead loss to him, 
 or does not pay more than its expenses. If he throws the 
 whole or the greater part of it into grass he will largely reduce 
 his expenses. He will save (say) one half of his labour bill 
 (^250), and as much more in horses, carts, machinery, seeds, 
 and manure, making altogether ^500 a year to the good. 
 
 Now, let us suppose that, not wishing to increase his expen- 
 diture on himself, his house, or his family, Johnson is anxious 
 to invest this money. If it had been ))rofitable to him, he 
 would have kept it and invested it, as before, on his farm. As 
 it is, he looks out for what will be more profitable, and he finds 
 that in consequence of the demand for corn in Europe, and 
 the increasing cultivation of corn in America and India, there 
 is no investment more profitable than an American or an
 
 FREE TRArE V. FAIR TRADE. 
 
 Indian railway. He buys shares in such a raihvay to the 
 extent of the ;^5oo which he has saved from his farm. How 
 does his ^^500 get out there ? Not certainly in gold. We 
 import into England more gold than we export. Unless it is 
 exchanged for capital returning home, which is unlikely, for we 
 are constantly making fresh investments abroad, it goes out in 
 the shape of English goods, possibly in the form of iron rails 
 or machinery which are required for the purpose of the railway 
 in which Johnson has invested his ;^5oo. 
 
 This ^500, therefore, sets to work English labour as much 
 as if it were wages on Johnson's farm. It sets to work the 
 workmen who make the iron, the shipbuilders who make the- 
 ship which carries the goods, and the sailors who navigate her. 
 
 When it has reached America or India, what does it do 
 there? First of all it facilitates the carriage of corn, and 
 makes corn cheaper in this country. Then, as regards 
 Johnson himself, it creates an obligation on the part of the 
 American or Indian railway company to pay him interest upon 
 it — say, at the rate of ^5 per cent, by which he gets ^25 a 
 year, which he would never have had if he had continued to 
 invest his money on his English farm in growing corn, which 
 he could not sell at a profit. This ^2z^ he can spend as he 
 pleases. Possibly, being richer than he was, he may choose to 
 spend it unproductively on his farm; possibly on his garden, his 
 house, or on other luxuries ; possibly he may invest it again in 
 the same way in which he invested the ;^5oo from which it was 
 derived. But in any of these cases it will set to work English 
 labour ; and there will be ^^25 employed in setting to work 
 English labour, which would not have existed if Johnson had 
 continued to grow unprofitable corn. If the ^25 is productively 
 invested, it will again produce interest, to be again employed in 
 labour, and so on. Each year the same process will be continued 
 — each year Johnson will be diverting the unprofitable labour 
 from his farm to profitable labour in the mine, the foundry, the 
 shipbuilding yard, and the ship ; and the amount of capital to 
 be returned to this country to be there employed in labour will 
 constantly accumulate. On the whole, therefore, not only will 
 Johnson be better off, but the money used in employing labour 
 in this country will be increased ; and that labour will be of 
 a better kind — because more productive — than the labour on 
 Johnson's farm. 
 
 But now, in order to be fair, let us look at the other side
 
 PART II. — RETALIATION. Ill 
 
 of the question. Johnson formerly employed i6 labourers on objections 
 his farm — he now employs only half the number. He formerly to the 
 bought seeds and manures and horses, which he no longer P""9P . 
 buys ; and to this extent English labour is displaced. But this vestments, 
 labour is ex hypothesi less valuable labour to the country Possible 
 than the English labour which his foreign investment has set to ta^es^to"' 
 work, and it would not produce the additional interest for the working 
 luture employment of English labour which the foreign invest- '"^"• 
 ment does. The displacement and transfer may, nevertheless, 
 cause inconvenience and loss to the farm labourers concerned. 
 Such inconvenience and loss are little, if at all, felt where the 
 process is gradual and the labour is absorbed elsewhere ; 
 l3ut they may be so sudden as to cause considerable suffering. 
 For instance, the process I have thus illustrated has for many 
 years been going on throughout Western England, as is shown 
 by the decrease of arable land in the agricultural returns, and 
 this change being gradual, has, down to the past year, been 
 effected without loss to the agricultural labourer, as is shown by 
 the maintenance or rise of his wages. It may be that quite 
 recently things have changed ; that the long continued agricul- 
 tural depression has had a cumulative effect; that the depres- 
 sion of prices following bad seasons has caused the change to 
 go on more rapidly, and that it is causing some suffering at 
 the present time. 
 
 But whether this is so or not, it remains true that on the Balance of 
 whole the transfer of English capital from an English industry 'i<^v.intage. 
 which does not pay to a foreign or colonial industry which 
 does pAy, is no loss to England generally, and causes no 
 diminution in the employment of English labour. 
 
 There are, however, two drawbacks to these foreign and Drawbacks 
 colonial investments of a totally different kind, to which it is Invest^'"" 
 well to call attention. The one is that in case of a war with a ments. 
 maritime power, the returns from them would be open to 
 greater risk than investments in this country ; the other that 
 they can more easily evade taxation by the English Govern- 
 ment. If the Fair Traders would devote their attention to the 
 best mode of securing safety to our immense foreign invest- 
 ments, and of making this form of personal property pay a 
 certain and a fair contribution to the national expenses, they 
 might deserve public gratitude. 
 
 It will be remembered that in this chapter I have been 
 arguing with those who would treat the transfer of capital from
 
 112 FREE TRADE V. FAIR TRADE. 
 
 English estates or manufactures to foreign railways or other 
 foreign enterprises as an economical evil to be discouraged by 
 the legislature. But the desire to make profitable investments, 
 however valuable economically, is not the only motive which 
 governs rich men ; and the love of natural beauty ; interest in 
 farming and outdoor life ; personal and local attachments ; are 
 quite sure to maintain a much larger expenditure on English 
 land and on English labour than would be dictated by a desire 
 for gain. By all means let all such motives have their way ; but 
 do not let us, in the supposed interest of national wealth, be 
 persuaded to deprecate or discourage the foreign investments 
 which have done so much to increase that wealth, and to im- 
 prove the condition of the toilers and spinners who produce it. 
 
 Illustra- 
 tions from 
 English 
 Trade : 
 before 
 i860. 
 
 CHAPTER XXIII. 
 
 ILLUSTRATION OF PRINCIPLE — ENGLISH TRADE BEFORE 1860. 
 
 Having, in Chapter XIX., stated the general principle of Free 
 Traders, and having, in the three following chapters, dealt with 
 some of the Protectionist objections to it, I will now try to 
 illustrate its operation. But it is not an easy thing to prove 
 any truth of this kind from statistics of actual facts, for it is 
 very difficult to find a test-case in which all the facts are known, 
 and from which all foreign elements can be eliminated, but in 
 the facts which have been so often cited by Free Traders we 
 find an approach to an illustration if not to a proof. 
 
 From the time of the end of the great war in 1815 to the 
 time of Sir R. Peel's tariff reforms, England was first a Prohibi- 
 tive and afterwards a Protectionist country. In 1842 the first 
 great reductions of duty were made. In 1845 followed a great 
 further reduction. In 1846 the Corn-law Bill was passed, and 
 the corn duties came to an end in 1849. I^ the same year the 
 navigation laws were repealed. In 1853 Mr. Gladstone's first 
 budget made large additional reductions, which were continued 
 more or less in each successive year until i860, when the 
 reductions incidental to the French treaty brought our tariff to 
 its present simple condition, with the exception of the repeal 
 of the sugar duty, which took place in 1874.
 
 PART II. — RETALIATION. II3 
 
 If, therefore, we can compare the period of Protection in . , 
 England with the period of Free Trade which immediately Trfje be. 
 followed Sir R. Peel's reforms, and if we find that after these fore i860, 
 reforms had taken effect, and before i860, when the French 
 treaty was made, there was a great burst of activity in England, 
 we have some evidence that reduction of Protective duties in 
 England alone, and without reduction on the part of other 
 nations, resulted in a great increase of English trade, the effects 
 of which are seen in the statistics of our exports. 
 
 Our statistics of exports of domestic produce, which are the 
 only statistics on which we can rely for the earlier years of the 
 century, afford such a test. These averaged per annum from 
 
 1821 to 1825 
 
 . about 37 millic 
 
 1826 to 1830 
 
 • „ 36 „ 
 
 1831 to 1835 
 
 „ 40 
 
 1836 to 1840 
 
 • „ 50 
 
 1841 to 1845 
 
 . M 54 „ 
 
 1846 to 1850 
 
 M 61 
 
 1851 to 1855 
 
 . „ 89 „ 
 
 1856 to 1S60 
 
 ., 124 
 
 thus showing a large and continuous increase as the successive 
 instalments of Free Trade came into full operation. I am aware 
 that there were other factors at work during this period, and 
 those who wish to see what can be said about them should turn 
 to Mr. Gladstone's article in the Nineteenth Century of February, 
 1880, But the above figures show conclusively that an out- 
 burst of successful exportation was concurrent with the installa- 
 tion of a Free Trade policy in England, and with the mainte- 
 nance of restrictive tariffs abroad. 
 
 CHAPTER XXIV. 
 
 ENGLISH TRADE SINCE 1860. 
 
 But it will be said in reply, " All this happened long ago, and Alleged 
 many things have happened since then. Foreign nations have changes oi 
 learned from us to manufacture and to rival us not only in their gJan^eV 
 own markets but in the markets of the world. Protective tariffs since i860. 
 I
 
 114 FREE TRADE 7'. FAIR TRADE. 
 
 English in this state of things will be more dangerous to us than they 
 ^860 ^ ^'"^^ ^^^^ were before, for we have not only the barriers of hostile 
 tariffs to cross, but shall find Avithin them rivals whom we 
 cannot expect to beat. As a matter of fact, the trade of other 
 nations has progressed as fast or faster than our own. The 
 United States have the most Protective tariff in the world ; but 
 their trade, as measured by their exports and imports, and their 
 general prosperity, has grown faster than our own. France, 
 with her tariff less Protectionist than the United States, but 
 still Protective in a high degree, is the marvel of the world in 
 the way she has recovered from the crushing blows of the 
 German war. Germany has not found her Protective tariff 
 destroy her trade. The imports and exports of Canada have not 
 diminished since she adopted her high duties, and Protectionist 
 Victoria runs a fair race with Free-trade New South Wales. 
 Above all, are not our exports diminishing while our imports are 
 increasing? Have we not had the longest period of com- 
 mercial depression ever known ? and is there any reason for 
 supposing that we shall so far recover from it as to attain again 
 our former prosperity ? " 
 
 To this I propose to reply at length in the following 
 chapters. But in the first instance I wish to observe 
 that it is a mistake to suppose that the world is, on the 
 whole, more protective than or even as protective as it was. 
 In the earlier part of this century, nations were prohibi- 
 tive where they are now Protectionist. Prohibition pure 
 and simple, common enough before i860, scarcely exists 
 now. Many countries — e.g., Holland, Belgium, Norway and 
 Sweden — have since i860 adopted a policy approaching our 
 own. Scarcely anywhere in Europe are tariffs now as high as 
 they were before i860. Many neutral markets are free. But, 
 secondly, be the tariffs what they may, our freedom still gives 
 us an advantage. We can and do export, even to the most 
 Protectionist countries, manufactures which they are trying to 
 keep out, and we must do so as long as they burden their own 
 industries by a Protective system, and seek at the same time to 
 sell their raw produce to us. In neutral markets, of which 
 there must always be many, we have enormous advantages in 
 our free tariff Our materials come to us free, and our people 
 live on untaxed food. 
 Human Let US also bear in mind that these human laws which we 
 
 onT factor ^^^^ SO much of are but trifles in face of the great changes
 
 PART 11. RETALIATION, II5 
 
 which are extending the borders of the nations, and bringing inthegrcnt 
 them together. Steam and electricity, the steamship, the rail- ''^"*""- 
 way, and the telegraph, the improvement of every art of pro- 
 duction, including agriculture, the specialisation of these arts, 
 and their distribution among different classes and peoples, the 
 system of credit— all these things make the inter-dependence 
 of different countries both more practicable and more neces- 
 sary day by day ; and the stream of international commerce 
 flows on, ever widening and deepening, in spite of the puny 
 barriers by which the folly of man tries to check and impede 
 its course. Mischief they can do, but it is small compared with 
 the magnificent results of the beneficent laws of Nature. 
 
 CHAPTER XXV. 
 
 WHAT FREE TRADE MEANS, AND WHAT IT CANNOT DO. 
 
 At the same time it must be remembered what Free Trade Free Trade 
 is, and what are its limits. It is merely the unshackling of cannot 
 powers which have an independent existence. It can produce caToniv 
 nothing ; it can create no material substance in Nature ; it can leave 
 beget no positive qualities in man. All it can do, and that all ^,^'"1.^ ^"^ 
 is much, is to leave the powers of Nature and of man to pro- ' 
 duce whatever it is in them to produce unchecked by human 
 restrictions. Free Trade cannot make the maize and the 
 vine grow in England ; it cannot make our sands and clays 
 yield wheat as freely as the virgin soil of the prairies ; it cannot 
 endow the negro and the Hindoo with the ingenuity and thrift 
 of the Frenchman, or the brain and arm of the Anglo-Saxon ; 
 but it can insure that each shall be allowed to yield and 
 do whatever it is best fitted for yielding and doing. Free 
 Traders have been much to blame for attributing to Free Trade 
 consequences which have probably arisen from many causes, 
 and they are now paying the penalty of their exaggerations. 
 It is idle to expect that England shall produce everything, 
 or even that she shall have a monopoly of manufactures. 
 Other countries have their own special advantages of soil, 
 of climate, and character, which will enable them to do many 
 things better than England. The true test of the value of 
 I 2
 
 Il6 FREE TRADE 7'. FAIR TRADE, 
 
 True test Free Trade to England, or to any other country, is not whether 
 Trfdir ^^^^ ^^ progressing faster, or even doing a larger trade than 
 another, but whether she is doing better herself with Free 
 Trade than she would do without it ; and whether, in her 
 relation to other nations which are not Free Traders, she or 
 they derive the greater benefit from their respective com- 
 mercial systems. Tried by these tests, we need not fear the 
 comparison. 
 
 CHAPTER XXVI. 
 
 RELATION OF THE PROSPERITY OF OTHER NATIONS TO 
 OUR OWN. 
 
 Our Trade BEFORE attcmpling to provc anything by facts and figures, 
 can only |g|. ^,g j^g qj-^ Qm- guard against a mistake, by which our 
 making'tiie Protectionist friends are constantly leading us into pitfalls. 
 Trade of It is a very important and a very dangerous mistake, for it 
 ^^^ involves the very principle which lies at the bottom of the 
 
 grow too. Free Trade controversy. To read Protectionist literature, one 
 would imagine that no nation could thrive except at the 
 expense of another ; that trade, at any rate between nations, 
 is a sort of betting or gambling game, where the gain of one is 
 the loss of another. If the list of French exports grows as ours 
 grows, still more if it increases by a percentage faster than 
 our own, we are in danger. If the American export account 
 appears to exceed our own, we are lost, and so on. Unless 
 our sale list keeps far ahead of and grows faster than that of all 
 other nations, we are losing our position, and dwindling among 
 the races of mankind. But the truth is, that trade is reciprocal : 
 our trade cannot grow without making the trade of other 
 nations grow too. Every act of trade is a sale by one man 
 and a purchase by another, and every such a sale and purchase 
 involves a second purchase by the first man and sale by the last. 
 Every act of trade is an act of barter — or, rather, one-half of an 
 act of barter. Except in the case of transfers of goods made to 
 pay existing debts, every sale by an Englishman to a Frenchman 
 involves a sale direct or indirect by a Frenchman to an English- 
 man. Every English export to France involves a French import
 
 PART II. — RETAT,IATION. I17 
 
 from England, a French export on account of r>ngland and an 
 JCnglish import on account of France. And the wliole transac- 
 tion is a gain to both traders and to both countries. An 
 increase in the English export list, arising from the removal 
 of our own restrictions, necessitates an equal and corresponding 
 increase in the French export list ; and the increase in the 
 French exports, which follows the removal of our restrictions, 
 is the proof and consequence of an increase in English trade. 
 We cannot do good to ourselves without doing good to our 
 neighbour. Nay, if we are doing much the larger trade of the 
 two, it may very well happen that by removing some artificial 
 restrictions which we have placed on our trade with him, we 
 may arrive at the result of increasing our neighbour's trade by 
 a percentage on his trade greater than the percentage by which 
 we increase our own^ — a catastrophe which excites the liveliest 
 alarm in the minds of those who think the infant of two years 
 lives faster than the youth of twenty, because in one year the 
 infant has doubled his age, whilst the youth has added only 
 one-twentieth to his. 
 
 It would be seen to be the height of absurdity if a manu- Folly of 
 facturer, a merchant, a farmer were to look on the j^-osperity -"Pposing 
 of his customers as signs of his own decay. Conceive the to consist] 
 village baker saying to the shoemaker, "You are making too in the 
 much by my custom; you have enlarged your shop, you ^.re ''[j^^f^'^'^' 
 taking an apprentice : you eat more of my bread, it is true, 
 but I cannot bear to see you so rich. I shall do without 
 shoes, and go barefoot, in order that your balance may be less 
 at the end of the year." And yet this is the spirit in which we 
 often look at foreign statistics. The very growth in them 
 which we envy is often the necessary result of the increase ot 
 our own trade, which, again, is the result of our own free 
 policy. When we reduced our tariff between 1840 and 
 i860, we increased our own exports and imports; but we 
 increased those of America and Germany and France at the 
 same time. 
 
 Consequently, in comparing national statistics, the question 
 is not whether we increase faster than or as fixst as other 
 nations, though this question may often be answered in the 
 affirmative, but does our Free system enable us to do trade 
 with other nations which we should not do without it, and 
 does it enable us to do trade from which they cut themselves off 
 by a system of Protection ?
 
 ii8 
 
 FREE TRADE V. FAIR TRADE. 
 
 In saying that trade is necessarily a mutual benefit, I do 
 not forget Competition, or the partial and local suffering which 
 it occasionally causes. Competition becomes wider, if not 
 more severe, as communication extends. But competition is 
 one form of a higher law, of which in this case we can see the 
 beneficent results, and which neither men nor nations can dis- 
 regard with impunity. P'ree Trade cheerfully obeys this law ; 
 zV /las regard to sellers who ivatit io sell what other people 
 7i'a/it to buy, and to buyers who zvant to buy what other 
 people want to sell. Protection discourages such bu)crs and 
 sellers, and encourages instead of them, and at their expense, 
 the sellers who want to sell what nobody wants to hey. If in the 
 race of competition we were entirely thrown out ; if, whilst 
 other nations were prospering, our forges were extinguished, our 
 looms idle, our pauperism on the increase, and our consump- 
 tion seriously diminishing, it would be time, not to reverse our 
 policy, but to reconsider our position. But whilst the very 
 opposite of this is the case, it is the height of folly to look uith 
 jealousy on the growing wealth of other nations who can sell 
 what we want to buy, and buy what we want to sell. 
 
 CHAPTER XXV n. 
 
 STATISTICS OF ENGLISH TRADE CO.MPARED WITH TRADE 
 OF OTHER NATIONS. 
 
 Compar- 
 son with 
 other 
 Nations. 
 
 Increase of 
 our Trade 
 means 
 increase of 
 Foreigner's 
 Trade. 
 
 Let us now take the case of one or two foreign countries, and 
 see whether what we know of their trade is such as to make us 
 fear that we are losing our hold on the markets of the world. 
 In making any such comparison, two or three points must be 
 remembered. 
 
 First, as I have already pointed out, the increase of our 
 own trade necessarily involves the increase of the trade of 
 foreign countries. This must be so, whether they open their 
 ports or not. If they reduce their duties contemporaneously 
 with our reduction, their trade will increase by so much the 
 more ; if not, it will increase, but not so much. It is therefore 
 to be expected and desired that the trade of foreign nations
 
 I'ART II. — RKIAIJA r(ON'. II9 
 
 should increase when our own increases, and sucli an increase 
 is not so much taken from us, but so much in our favour. 
 
 Secondly, in comparing our own trade with that of other Manufac- 
 countries, it is common to take the whole exports of domestic ^"!"^* ^''* 
 produce as the test. But this is nihil ad rem, so far as our tocompare. 
 manufactures are concerned. 
 
 We export litde or no food, and litde or no raw produce of 
 the soil. If we wish to see whether other nations are progress- 
 ing faster than ourselves, or, which is the more material point, 
 beating us out of the market, we ought to confine our attention 
 to what we produce ourselves. I have, therefore, in the follow- 
 ing figures endeavoured to do this in a rough way. 
 
 Thirdly, it must be remembered that the following Our 
 figures, taken from our statistics of exports, do not include the Statistics of 
 unseen exports which we make in the shape of ships and not includtr 
 freight. These are as much the produce of English skill and Freight, 
 labour as our cottons or our woollens, and probably amount 
 annually, as above stated, to more than 50 millions, one-sixth of 
 our whole exports. 
 
 Fourthly, even as regards manufactures, it ought to be no Wc cannot 
 surprise to us that some nations are progressing faster than our- ^f^P 'V 
 selves, or even competing with us in some articles in our own tures. 
 markets, if we hold our own as a whole. 
 
 To hear people talk, one would think sometimes that We supple- 
 we entertam the notion that we are to have a monopoly of "^^"'^'';'^'^^'-' 
 manufacture, and are frightened if we see that any article lose by 
 which we make is successfully made in another country, new inven- 
 Nothing can be more absurd. Providence has given us no ^'°"^' 
 monopoly of natural gifts, and the very essence of the Free 
 Trade doctrine is that each country shall do what it can do 
 best. It is not a loss, but a great gain to us, if France sends 
 to the world, and to us among the rest, her tasteful stuffs, 
 and if America provides us with her ingenious labour-saving 
 machines. We have been the first in the field with the great 
 metal and textile manufactures, and we are still first in general 
 mechanical skill. But the probability is that other countries 
 will by degrees follow us successfully in the older manufactures 
 and in the coarser productions ; and that we shall still continue 
 to invent and to supply the world with the newer products of 
 scientific manufacture. As some evidence that this is actually 
 the case, I may quote the following passage from Mr. New- 
 march's exhaustive address to the Statistical Society, contained
 
 120 
 
 FREE TRADE V. FAIR TRADE. 
 
 Trade com- 
 pnred with 
 that of other 
 nations. 
 
 in the Society's yi;//;v/rt'/ of June, 1878, p. 211. "Between 
 1856 and 1877 supplemental exports (viz., those not included 
 under the great heads of Textiles; Sewed; Metals, Ceramics, &c.), 
 increase threefold, viz., from 13 to 37 millions, and the pro- 
 portion to the total exports rises from 11 to 19. The progres- 
 sion of the figures is rapid and large, and strongly suggestive ot 
 a vigorous and inventive trade in which the rapid appearance 
 of new commodities is proportionally pressing open and enlarg- 
 ing the previous classifications and vocabularies." The supple- 
 mental list thus referred to contains, amongst a multitude 
 of articles, such as biscuits, medicines, chemicals, painters' 
 colours, musical instruments, telegraph materials, india-rubber 
 and jute manufactures, &c., &c. To find that France, Ger- 
 many and America are making cotton and woollen goods for 
 themselves and exporting them is what we must expect. The 
 question we have to consider is, what is our manufacturing 
 position compared with the manufacturing position of countries 
 which have Protective systems, and whether such success as 
 they have has accrued to them in consequence of their Pro- 
 tective systems, or in spite of them. 
 
 In the tables appended, I have taken the exports of England, 
 France, Germany and the United States at two different periods, 
 and have divided them roughly into food, raw materials, and 
 manufactujes, and have endeavoured to see — first, what is the 
 amount of manufactures exported by each country ; secondly, 
 what proportion that amount bears to its total exports ; and 
 thirdly, how these proportions are progressing. I have said 
 above, that I do not myself rely on the distinctions commonly 
 drawn between raw materials and manufactures, and that there 
 is a great difficulty in drawing any satisfactory line of dis- 
 tinction between them. The distinctions contained in these 
 tables do not therefore pretend to accuracy. No two persons 
 would distribute the items in the same manner. Moreover, the 
 statistical returns of each country are often classified according 
 to its tariff, rather than according to more natural principles, 
 and this causes additional confusion. I may mention as an 
 instance of the difficulty the case of pig iron. It is here 
 classed as a raw material, but it is the product of one of our 
 most important manufactures, is one of our chief exports, 
 and is highly protected in many foreign countries. However, 
 I have taken the distinctions as made in tables which are 
 already before the public ; and, generally speaking, it may be
 
 PART II. — RETALIATION. 
 
 121 
 
 said that what arc here inckided under manufactures are special 
 objects of protection in Protectionist countries. 
 
 As regards foreign countries, I have not carried the dis- 
 tinction between food, raw materials, and manufactures, later 
 than 1880. To work out the distinction on the same princi- 
 ples on which the English analysis is worked out is a laborious 
 task, and it is, after all, as mentioned above, not satisfactory. 
 To make it on any other princijjle, or to accei)t the distinction 
 as made in foreign returns, would, for purposes of comparison, 
 be useless and delusive. 
 
 The case of England, as shown in these tables, is as follows : 
 
 Extorts of Domestic Produce from England.* 
 
 
 Amount, in Thousands of 
 Pounds. 
 
 Percentage of Total. 
 
 
 1870. 
 
 1880. 
 
 1883. 1870. ' 1S80. 
 
 18S3. 
 
 Food 
 
 Raw Materials 
 Manufactures . . 
 
 £ 
 7,607 
 
 13,744 
 178,236 
 
 £ 
 
 8,825 
 
 23,272 
 
 190,963 
 
 £ 
 
 9,575 
 
 23,531 
 
 206,693 
 
 4 
 
 7 
 
 89 
 
 100 
 
 4 
 10 
 86 
 
 4 
 10 
 86 
 
 Total . , . 
 
 199,587 
 
 223,060 
 
 239,799 
 
 100 
 
 100 
 
 Exports of 
 the United 
 Kingdom 
 in i87r, 
 1880, ai.d 
 1883. 
 
 CHAPTER XXVIII. 
 
 STATISTICS OF FRENCH, GERMAN, AND UNITED STATES 
 TRADE IN RECENT YEARS. 
 
 Trade of France. 
 
 Our direct imports from France, as is well known, exceed our imports & 
 direct exports to France, and they do this by an amount which Exports 
 exceeds anything due to us for freight and profit. Put what- p"!"!"^"** '° 
 ever the explanation of this excess may be, the proportion before and 
 borne by exported English produce to French imports has ?',"co 
 
 * See Table XVII.. in Appendix, for the details.
 
 FREE TRADE V. FAIR TRADE. 
 
 French 
 Trade 
 before and 
 since the 
 Treaty. 
 
 increased ruUier than diniinished since ihe French Treaty, 
 whilst the actual amount of English produce exported has 
 tripled, thus showing that the excess of imports is not due to 
 the character of the Treaty tariffs. The figures are as follows: — 
 
 The total exports from France, according to the French 
 statistics for 1869, the year before the war, and for 1879, are 
 as follows : — 
 
 Expoits 
 
 from 
 
 France 
 
 in 1869 and 
 
 1879. 
 
 Exports of Domestic Produce from France.* 
 
 
 Amount, in t. ^ 
 Thousands of Pounds. Percentage. 
 
 
 1869. 1879. 1869. 
 
 1879. 
 
 Food 
 
 Raw Material 
 Manufactures 
 
 34,017 
 21,482 
 
 70,504 
 
 £ 
 33,159 
 25,210 
 
 69,515 
 
 27-0 
 17-0 
 56 
 
 26 
 19-8 
 54-2 
 
 Total ... 
 
 126,003 
 
 127,884 
 
 100 
 
 100 
 
 The value of manufactures exported from France therefore 
 actually decreased in the decade ending with 1879, ^^^ its 
 proportion to the value of food and raw materials exported 
 decreased also, whilst the whole exports remained about the 
 same. In fact, the trade has been stationary, whilst the 
 English trade has largely increased, as shown above. If to the 
 above list of exports we were to add shipping and freights, 
 we should find that the exports of England have increased 
 much faster than those of France. 
 Duties Half the articles on which duties are imposed by the 
 
 FnuTce^on^ French tariff are articles to be used solely or principally 
 
 Articles 
 
 * See Table XVIII., in Appendix, for the details.
 
 PART II. RETALIATION. 
 
 123 
 
 in further manufacture, e.g., yarns of all kinds, cotton, silk used in 
 
 and woollen, unbleached cloths, combed wool, iron and Manufac- 
 
 steel of all kinds, cop[)er sheets and wire, coal, alkali, salt, 
 
 tiles and bricks, and leather ; whilst amongst all the rest 
 
 are articles which conduce not less materially if less directly 
 
 to production, by improving the condition of the workman, 
 
 or by facilitating the conduct of business. I believe I 
 
 might go through most of them, and show how France manages 
 
 by imposing a protective duty to countervail her own natural 
 
 advantages of soil, climate and human character, or to enhance 
 
 her natural difficulties; whilst freedom from the weight of duties 
 
 in our case enables us to take advantage of her deficiencies. 
 
 The special cases of leather, silk, sugar and shipping, 1 have 
 
 noticed more particularly below. 
 
 Trade of Ger/nany. 
 
 The exports from Germany for the same years are as follows : — t-xports 
 
 Exports of Do.mkstic Produce from Germany.* Germany 
 
 in 1869 and 
 1879. 
 
 
 Amount, in t, „.„,„„ 
 Thousands of Pounds. 1 P«centaRe. 
 
 1 
 
 
 ti869. 
 
 1879. 1869. 1 1879. 
 
 Food ...... 
 
 Raw Material 
 
 Manufactures 
 
 £ 
 28,356 
 
 38,383 
 43,864 
 
 £ 
 37,948 J 25-6 27-3 
 
 47,283 ; 347 34-0 
 53,551 397 j 3S7 
 
 Total 
 
 110,603 
 
 138,782 100 I 100 
 
 German trade has increased largely ; her jjolitical trium])h, 
 and above all, the thrift and patient skill and energy of her 
 people, have given her great advantages. How far the retrograde 
 steps she has taken in the direction of a return to Protection 
 may check her progress I have no means of determining. 
 The Reports of the Chambers of Commerce in Germany, to- 
 wards the end of 1880, were unfavourable to this course. They 
 stated that the trade of the country was depressed ; that the 
 internal demand for manufoctures was slack ; that the price of 
 
 * See Table XIX., in Appendix, for the details, 
 f The values for 1869 are estimated only.
 
 124 
 
 FREfi TRADE ?'. FAIR TRADE. 
 
 raw material was high ; that food was dear ; and that the 
 working classes were worse off than they had previously been. 
 I am not aware that any similar reports from Chambers of 
 Commerce have been published in later years, nor have I any 
 more recent evidence as to the condition of German Trade, 
 except the notorious bankruptcies and distress in the German 
 sugar trade, and the distress among German agriculturists, 
 which has been made the ground for the protective duties 
 lately imposed on food. 
 
 Trade of t/ic United States. 
 
 Let us next take the case of the United States. They levy, 
 as is well known, enormous duties, ranging up to 50 per cent., 
 and even 100 per cent, on almost everything that is made with 
 hands. With all this, they have been in a state of great 
 prosperity, and though now suffering under temporary de- 
 pression, will no doubt be so again. But they suffer from 
 fluctuations at least as much as other nations, and probably 
 more, since their Protection system causes a glut, and at the 
 same time prevents them from finding a market abroad. It is 
 not long ago that we heard of depression in the towns of the 
 United States far more acute than any which our workmen 
 have laboured under; and their distress in the present year is 
 probably far greater than any which we are suffering from, as 
 will be seen below (Chap. XXXIII). But on the whole the 
 recent growth of their trade is very remarkable. 
 
 The following is an analysis of their export trade in 1870 
 and 18S0, excluding bullion and specie: — 
 
 Exports of Domestic Produce from 
 
 THE United States.* 
 
 
 Amount in Thousands 
 of Pounds. 
 
 Percentage. 
 
 
 1870. 
 
 1880. 
 
 1870. 
 
 i88o. 
 
 Food 
 
 Raw Material 
 
 Manufactures 
 
 £, 
 
 2i,56o 
 
 45,600 
 
 8,609 
 
 £ 
 96,694 
 
 57,199 
 17,763 
 
 28-6 
 60 • I 
 II-3 
 
 56-3 
 33-3 
 io"4 
 
 Total 75,869 
 
 171,656 
 
 100 
 
 100 
 
 ^ue Table XX., in Appendix, for details.
 
 PART II. — RETALIATION. I 25 
 
 But it is desirable to go a little further back, and for this 
 purpose I take the figures from a very interesting article on 
 United States' trade in the Times of the 7th November, 1881. 
 If the figures do not correspond exactly with those given 
 above, it is because the following figures include bullion and 
 specie ; and because, in the figures for 1880, the dollar is taken at 
 4s, in the T/'w^j- article, and at 4s. 2d. in the figures given above. 
 
 The following are the exports of the United States and 
 United Kingdom respectively, since 1840 : — 
 
 Exports* of Domkstic Produce, in Thousands of Pounds. Exports of 
 
 United St.^tes. United Kingdom. United 
 
 1840 . . ;^22,779 .... ;^5i,309 States and 
 
 1850 . . 27,389 .... 71,367 United 
 
 i860 . . 74,637 . . .• . 135,891 Kingdom 
 
 1870 . . 84,100 . . . . 199,586 in each de- 
 
 1880 . . 166,658 .... 223,S6o isjo""''^ 
 
 If to these figures were added the figures representing those 
 exports which each country makes in the form of its shipping, 
 the comparative growth of the trade of the United Kingdom 
 would appear to be very much larger, especially in later years, 
 during which the shipping of the United States has been dimin- 
 ishing, and that of the United Kingdom largely increasing. 
 
 It will be observed in the above figures that the trade of Growth of 
 the United States increased little between i860 and 1870, no ,^XJ'tw°" 
 doubt in consequence of the exhaustion caused by the civil Countries, 
 war ; and that this leeway was made up in the subsequent 
 decade. The most important observation, however, is that 
 during the whole of the periods above mentioned the popula- 
 tion of the United States grew much faster than that of the 
 United Kingdom ; and that, if we take the amount of trade 
 per head of each country in each decade, the trade of the 
 United Kingdom has grown much faster than that of the 
 United States. The following are the figures : — 
 
 per head. 
 
 Exports per Head of the Two Countries. Compad- 
 
 United States. United Kingdom. !?" °^, 
 
 1 • • • ;^i 18 9 ^5°:!!, 
 
 2 . . . 2 II 10 
 II . . . 4 14 7 
 II . . . 6 7 II 
 
 I . . .695 
 
 * The exports from the United States inchide buIUon and specie. Those 
 from the United Kingdom do not. But this will make very little difference. 
 
 1840 
 
 . £y 
 
 II 
 
 1850 . 
 
 I 
 
 6 
 
 i860 . 
 
 2 
 
 10 
 
 1870 . 
 
 2 
 
 6 
 
 1880 . 
 
 3 
 
 8
 
 126 
 
 FREE TRADE T. FAIR TRADE. 
 
 United 
 States' 
 trade. 
 
 Causes of 
 United 
 States' 
 Prosperit)' 
 
 Nature 
 of their 
 Exports. 
 
 These are not figures to alarm us. It is idle to expect that 
 30 milUon of people shall produce as much as 50 million of 
 the same people. 
 
 The United States are probably, however, at this moment, 
 in spite of temporary depression, one of the most prosperous 
 nations in the world. 
 
 The source of their prosperity is not far to seek. It is not 
 to be found in those industries which they try to cherish by 
 Protection, but in the raw productions of the fertile soil and 
 climate of their immense territory. They have 50 millions of 
 the most industrious and energetic people in the world ; they 
 have a country as large as Europe, with every variety of good 
 climate, and with an unlimited area of unexhausted soil. They 
 have excellent communication throughout all the parts of this 
 immense area. Besides this, though shut off by their tariffs 
 from the rest of the world, they have absolute Free Trade 
 within their own borders. It is as if there were no custom 
 houses within the limits of Europe. Besides this, they have 
 the Old World wanting food, and affected by bad harvests. 
 No wonder, then, that they supply the world with food and 
 agricultural produce. Only a tenth of their population is 
 concerned in trade. The export of manufactures from the 
 United States in 1880 was lyf millions sterling, whilst our 
 own export of manufactures in the same year was 190 millions. 
 Even in their own highly protected market, our manufactures 
 are sold to the extent of 245 millions a year; whilst in our 
 open market theirs are only sold to the extent of 2^ millions. 
 With great facilities for producing iron and steel, and with a 
 considerable native production, prices were so high in 1880 
 that, in spite of the duty of 40 per cent, imposed on foreign 
 iron, we were able to send them ;;^i 0,000,000 worth, whilst 
 what they sent us was worth ^^200,000. 
 
 Their exports were very large in 1880, and have increased 
 enormously in the decade ; but of what do they consist ? 
 
 Ninety per cent, are food and raw materials, whilst the 
 manufactures which they try so hard to foster and protect 
 do not amount to more than 10 per cent. Their shipping, 
 as we shall see below, is not one-fourth — or, if we count one 
 ton of steam as equal to four of sailing, not one-seventh of our 
 own. Of their whole trade they carried 75 per cent, in their 
 own vessels in 1850, and only 16 per cent, in 1880. Food 
 constituted 28^ per cent, of their exports in 1870, and the
 
 PART II. RETALIATION. I 27 
 
 amount ot" food which they export increased more than 
 fourfold between 1870 and iSSo. The things which they have 
 not protected they provide the world with ; in the things which 
 they protect, and we leave free, they are nowhere in the race. 
 So much stronger is Nature than human law — so great are the 
 advantages which Freedom has over Protection. 
 
 The real moral to be drawn from American trade is the 
 Free Trade moral, viz., that the free development of natural 
 advantages, and the free exchange of natural products, are the 
 true sources of commercial prosperity. 
 
 CHAPTER XXIX, 
 
 TRADE OF CANADA AND AUSTRALIA. 
 
 It is, perhaps, even now, too soon to trace the effect of the Trade of 
 Canadian tariff of 1879 on her trade, and it is especially Canada 
 difficult to eliminate other causes which have affected it. f."<^^ ".^^^' 
 
 t anadian 
 
 It would have been very strange if Canada had not, tariff Tariff, 
 or no tariff", participated in the revival which has taken place 
 in the trade of the American continent ; it would be 
 doubly strange if, with her natural capacity for producing corn, 
 and with the recent scarcity in Europe, she had not very largely 
 increased her exports. For those exports she must be paid, and 
 we should therefore also expect to see her imports increase 
 very largely, and with them her customs revenue. We do find 
 an increase, but by no means so large a one as we should 
 expect. In 18S0, after the new tariff, the amount received 
 as customs revenue had increased over that received in 1S7S, 
 the year before the new tariff, by a little more than a million 
 of dollars. The duties in 1S80 amounted to about 20 per cent, 
 in value of the whole imports of the country. In 1874 and 1S75, 
 before the new tariff, the duties constituted only from eleven to 
 thirteen per cent, of the value of the imports, and in those 
 years the customs revenue was larger than it was in 18S0. 
 
 Comparing the trade of 1S78, the year before the new tariff", 
 with 1S80, we find that the imports were 90 millions of dollars 
 in the former year, and 86J- millions in the latter year ; whilst
 
 128 
 
 FREE TRADE V. FAIR TRADE. 
 
 Trade of 
 Ciinad;i. 
 
 the exports were 79 millions in the former, and 88 millions in 
 the latter. In 1873-74 the imports had been 128 millions, 
 and the exports 89 millions of dollars. In 1883 the imports 
 had risen to 132 millions, but the exports to 98 millions only, 
 little more than they had been ten years before. The 
 increased imports are probably due here, as in Australia, 
 to the investment of foreign capital in railway and other 
 enterprises, whilst the Protectionist tariff has had in Canada, 
 as in the United States, the effect of restricting her foreign 
 markets, and checking the sale of Canadian produce abroad. 
 Considering the increase of population and of cultivated 
 area, and considering also the immense demand of Europe for 
 corn, it is surprising that even with the check on her industry 
 imposed by the new tariff, the increase of exports should have 
 been so small as it is. Canada has, probably, succeeded 
 in calling into existence some weak manufacturing interests 
 which will prove a thorn in her side, but she has done so in 
 the expense of her natural industries, and has checked the 
 flow of capital and labour from Europe, of which she stands at 
 so much need. We have heard whispers in this country of a 
 desire for bargains with England, under which England should 
 either advance money to her, or give some preferential treat- 
 ment to Canada as the price for a reduction of her duties on 
 English goods. Whether such proposals have ever been enter- 
 tained or made by men of influence in Canada, I do not know. 
 But the chilling reception all such notions have met with in this 
 country ought to be a lesson to Canada, and to other Protec- 
 tionists, that if you want to win the favours of your mistress, it 
 is a very bad plan to put on a fit of sulks in order to make your 
 return to good-humour the price for her smiles. The Protec- 
 tionist policy of Canada is deeply to be regretted by all her 
 well-wishers here, not because it injures the trade of England, for 
 to that trade it is a comparative trifle, but because it tends to 
 cripple the industry of Canada, and to create a bad feeling 
 between the two countries. 
 
 The case of Victoria and New South Wales is particularly 
 interesting, because the two colonies are in many respects simi- 
 Trade'&c., I'lrly situated ; and whilst the one, Victoria, has embraced Pro- 
 in Victoria tection, the other (New South Wales) has remained steadfast to 
 Soutii ^^^ ^"i^t Trade. Both have progressed, but New South Wales has 
 Wales. made by far the greater progress of the two. 
 
 It appears, on comparing the progress of the two colonies
 
 PART 11. — RETALIATION, 
 
 129 
 
 for the decade ending with 
 general results : — 
 
 5o, that the following are the Australian 
 
 Trade 
 Victoria 
 and 
 
 New South 
 Wales. 
 
 
 Victoria, 
 
 New South Wales. 
 
 Population 
 
 increased from 726,000 
 
 increased from 502,000 
 
 
 to 860,000, or 18 
 
 to 770,000, or 53 per 
 
 
 per cent. 
 
 cent. 
 
 Excess of Immigrants 
 
 stationary , 
 
 increased from 4,000 to 
 
 over Emigrants 
 
 
 19,000. 
 
 The Value of Rateable 
 
 increased by less than 
 
 more than doubled. 
 
 Property 
 
 one-half 
 
 
 Customs Revenue 
 
 stationary . 
 
 increased by^nearly one- 
 half; and is, with a 
 less population and low 
 tarifit", nearly as great 
 as that of Victoria, with 
 a large population and 
 high tariff. 
 
 Imports 
 
 increased from I2i 
 
 increased from 7f mil- 
 
 
 millions to 145 mil- 
 
 linns to 14 millions, 
 
 
 lions, or 1 7 per cent. 
 
 or 80 per cent. 
 
 Exports 
 
 increased from 12^ 
 
 increased from Smillions 
 
 
 millions to 16 mil- 
 
 to 155 millions, or 94 
 
 
 lions, or 28 per cent. 
 
 per cent. 
 
 Since 1880 things have pursued a similar course. I annex 
 a table (No. XXI. in the Appendix), giving the population, public 
 debt, and imports and exports of each of the Australian 
 colonies from 1873 to 1883, extracted from the Victoria Year 
 Book, from which it will be seen that New South Wales, the 
 Free Trade colony, has increased its imi)orts from 14 millions 
 in 1880 to 21 millions in 1883, and its exports from 15.V 
 millions in 1880 to 20 millions in 1883; whilst Protectionist 
 Victoria has only increased its imports from 14^ millions to 
 17! millions, and its exports from 16 millions to i6_^ millions 
 in the same time. This table also shows that New South 
 Wales has increased its exports in these three years far 
 more than any of the other Australian colonies, all of which 
 are far more Protectionist. It is exports which our Fair Traders 
 are particularly anxious about, and it must be some disappoint- 
 ment to them to find that among a number of British societies 
 starting on similar and equal terms, the one which has con- 
 stantly admitted free imports has actually increased its exports 
 far more than those which have endeavoured to promote their 
 
 J
 
 FREE TRADE V. FAIR TRADE. 
 
 production and their i)0\ver of export by Protective duties, thus 
 giving an excellent illustration of the Free Trade maxim, 
 " Leave the imports free, and the exports will take care of 
 themselves." 
 
 CHAPTER XXX. 
 
 AGRICULTURAL DEPRESSION j EFFECT OF BAD HARVESTS. 
 
 Losses of But there has been a long and continuous depression of agri- 
 Farmers culture, the largest of all our productive industries ; and 
 causes : ^^'^j ^^ ^^"^^Y ^6 Said, brings with it depression of all. Now, 
 
 1, Rise of that the farmers have suffered severely during the last eight 
 ^^"^^ • f. or nine years, there can be no doubt. The amount of their 
 
 2, Rise of . . -'. ' . , , , 
 
 Wages ; losses It IS not easy to estmiate ; but competent observers cal- 
 
 3, Lowered cul'ated in 1880, that, if their then condition, arising from the 
 4 "^Deficient ^^^ses of the previous six years, were compared with their con- 
 p'roduc- dition ten years before, they must have been the worse by a 
 *'o"- sum approaching 200 millions, or, taking it by the year, 30 
 
 millions a year. As is well known, their condition has not 
 improved since then. The comparatively good harvest of 1884 
 failed to relieve them ; and there is reason to believe that 
 landlords have recently had to make great reductions in the 
 rent of arable land. Whatever be the sum thus lost by the 
 agricultural class, it is due to several factors, of which bad 
 harvests is only one. A rise in rents — which had been going on 
 long before the beginning of the decade, and w'hich continued 
 until 1872-73 — an increase in the cost of labour, and a heavy 
 fall in the price of agricultural produce, owing to foreign competi- 
 tion, are other factors. Of these four factors, the rise of rents, and 
 the rise in the cost of labour — a most uncertain item — were 
 estimated in 1880 to account for something less than one-third 
 of the whole loss, leaving more than two-thirds of the whole loss 
 to the two factors of bad harvests and lowered prices. In what 
 proportion it should be divided between these two factors is a 
 matter of controversy. Some persons would attribute the larger 
 proportion to the bad harvests ; others think that this has had a 
 much smaller effect than lowered prices ; but that both factors 
 have had a great effect in causing loss to the farmers, all agree.
 
 PART II. — RETALIATION. I3I 
 
 Upon tlie questions of what is the total amount of loss, First three 
 and in what proportions it is to be attributed to each of these a loss to 
 factors, I will not enter ; the important point for our present in^j-res" ^ 
 purpose is that it is only that jjortion of the farmer's loss not to the 
 which is due to bad harvests which is a pure economical whoieCom- 
 loss to the country. The rise of rent goes into the land- '"""' ^' 
 lord's pocket ; the rise of wages to the labourer ; and if the 
 farmer loses by the substitution of cheaper food from abroad, 
 the consumers of that food gain in lowered prices. The 
 present agricultural depression has, consequently, been con- 
 fined, to a great extent, to the farming and landowning classes. 
 Farmers have suffered much, rents have been remitted or 
 lowered, but the population generally have been little affected, 
 and trade revived for a while during the worst times of agri- 
 culture. For the first time since the repeal of the Corn Laws, 
 foreign competition, in supplying food to our people, has been 
 unaccompanied by such a rise in demand as to compensate, 
 and more than compensate, the English agriculturist. Even 
 now it is doubtful whether the recent fall in prices will have as 
 great an effect in lowering the letting value of land as the in- 
 creased demand for food, consequent on Free Trade, has had 
 in raising it in former years. 
 
 So far, therefore, as lower prices are concerned, the nation What is the 
 is not a loser. The loss of the farmer and landowner is the ^^ficient 
 gain of the rest of the people. But it is worth while to con- Harvests 
 sider what, under a system of Free Trade, is the effect on the op emive 
 welfare of the entire community of so much of the farmer's loss mu^ity ? 
 as is really due to a bad harvest. That it is a loss to the 
 agricultural interests, and consequently to the community, 
 which includes those interests, there is no doubt ; but to what 
 extent does it affect the large majority of the population, who 
 are neither farmers nor landowners ? The loss which they sufter 
 has, I believe, been both exaggerated and understated. In one 
 of our anti-free-trade journals I find the following passage : — 
 
 " Mr. Bright explains the depression of trade by the loss of 
 milUons through the insufficiency of harvests, and the inability 
 of all persons interested in agriculture to make their accus- 
 tomed purchases. 
 
 "But the Free Traders denied this. They said that 
 foreign corn would pour in, and must be paid for, and 
 would bring about a profitable exportation of non-agricultural 
 products." 
 J2
 
 132 FREE TRADE ?'. FAIR TRADE. 
 
 Whether the Free Traders said this or not, I do not know. 
 But the real state of the case seems to be as follows : — 
 
 Suppose that there is a deficiency of lo million quarters — ■ 
 worth, say, 20 million pounds. The agricultural interest will lose 
 this sum, and will be actually so much the poorer. They will 
 be unable to exchange their corn for non-agricultural products, 
 and, so far, trade will be injured. The argument above referred 
 to as the argument of the Free Traders, assumes that the same 
 quantity of corn must be purchased abroad at the same price 
 as would have been paid for the corn produced at home, and 
 that the same quantity of non-agricultural produce must be 
 exported to pay for it ; and that, if so, manufacture and trade 
 will not suffer on the whole. But the above assumption is not 
 strictly accurate, as the following considerations will show : — 
 
 1. Supposing the conditions of production abroad to remain 
 the same, the corn brought from abroad will necessarily cost 
 rather more than the home-grown corn would have cost, and 
 the goods sent to pay for it will have to pay freight and ex- 
 penses. This loss will fall on the whole community. If, 
 indeed, as has been recently the case with ourselves, the im- 
 porters of corn are also the carriers, the freight will return into 
 the pocket of the nation. 
 
 2. The course of trade will be deranged, and this will be a 
 loss to the manufacturer as well as to the agriculturist. 
 
 3. The foreign purchaser will not want so much of the 
 same things as the home purchaser, and will probably have 
 to be tempted by a lower price. He may want some things 
 very much, as the United States wanted iron for railways in 
 1880. In that case, the price of iron would go up in England, 
 but the price of other manufactures would go down. 
 
 4. The demand for corn will be large and immediate. Bills 
 of America on England will be at a discount. Bills of England 
 on America will be at a premium. The former will be in 
 excess. There will be an immediate profit to America on 
 the business, till the balance is redressed by the exports to 
 America. 
 
 Consequently, in their different ways, the trading and 
 manufacturing interests of England, as well as the agricultural 
 interest, must suffer from our bad harvests ; but their suffer- 
 ing is comparatively small ; and under present circumstances 
 is largely compensated, if not more than compensated, by the 
 low prices of Foreign food. What their suffering would be if
 
 PART II. — RETALIATION. I33 
 
 Foreign food were excluded, or raised in price by high duties, 
 it is, in the present state of our population and of their employ- 
 ment, frightful to contemplate. 
 
 CHAPTER XXXI. 
 
 COMMERCIAL DEPRESSION BETWEEN 1 87 2 AND 1880. 
 
 We have already seen, in Chapter XXIII., what an impetus our Burden of 
 trade received in the period between 1840 and i860. We know on°hose^ 
 also how much the trade of France, as well as of England, grew who call for 
 after the treaty of i860 ; and we may fairly ask our opponents, change of 
 who are calling for a reversal of the policy which produced ^""^ ° '^^* 
 those benefits, to show not only that we have since that time 
 been deprived of them, but that we should not have suffered 
 that loss if we had not been Free Traders. We have a right to 
 call upon them to define the specific evil of which they com- 
 plain, and then to prove that it is due to Free Trade. I need 
 not say that no such definition, no such proof, is forthcoming, 
 and we are left with nothing but a vague shadow to fight with. 
 
 Let us, however, take such focts as we can lay hold of, and 
 see how far they bear out the notion that we are losing our 
 markets in the world. 
 
 Let us admit that our exports, as measured in nominal Commer- 
 values, considerably diminished since those roaring years ofprgssjon 
 prosperity, 1872 and 1873. I'hey were 256 and 255 millions subsequent 
 in those years, and 191 and 223 millions in 1879 and 1880. '° '^73- 
 In 1882 they were 241 millions, and in 1883 240 millions. 
 Let us admit, too, that this decrease of exports has been the 
 sign and result of a real depression, and that both profits and 
 wages have decreased since those so-called prosperous years. 
 This in itself has nothing to do with the question at issue, 
 unless it can be shown to arise from a permanent loss of 
 market for our manufactures. Nothing whatever of the kind 
 has been shown, or can be shown. But it can be shown that 
 the prosperity of the earlier years of the decade is exaggerated ; 
 that the depression is exaggerated also; and that there are 
 ample causes to account both for one and the other without
 
 134 
 
 FRKE TRADE 7'. FAIR TRADE. 
 
 Depression 
 since 1873. 
 
 I'-^'^ggera- 
 tion of 
 Prosperity 
 of 1872-73. 
 
 Statistics 
 founded on 
 Price mis- 
 k^ading. 
 
 Prices of 
 Raw Ma- 
 terial. 
 
 Temporary 
 Causes of 
 Inflation. 
 
 assuming any falling off in the general demand for or supply of 
 English goods. 
 
 7"he prosperity of 1872 and 1873 has been immensely 
 exaggerated. All persons engaged in producing coal and iron 
 made, no doubt, enormous profits, but they were led by those 
 profits into an extravagant expenditure, partly on personal 
 expenses and luxuries, but still more on plant and machinery 
 for increasing the output, which has flooded the market with 
 excessive supply, and from which no adequate return has yet 
 been received. This expenditure of capital in fixed and, at 
 first, unremunerative investments, is one cause of subsequent 
 depression. But whilst coal and iron masters made fortunes 
 in those years, manufacturers and others who had to use coal 
 and iron had to bear heavy outgoings, and their profits were 
 reduced accordingly. Prices being high all round, people with 
 fixed incomes sufl:ered accordingly. Even the high wages 
 of the time went less far than lower wages do when prices 
 are lower. A great deal of the prosperity was apparent rather 
 than real. 
 
 The statistics made the exports appear larger than they 
 really were, because prices were so high. The quantities of 
 goods exported, and the labour necessary to produce them, 
 were as large in the subsequent years of depression as they 
 had been in the years of inflation, but appear to be less because 
 prices are so much lower. The exports of British produce were 
 255 millions in 1873, ^'i<^ 223 millions in 1880. If the exports 
 of 1880 were valued at the prices of 1873 they would be 311 
 millions, or larger than those of any previous year. 
 
 Imported raw material, e.o., cotton and wool, was much 
 dearer in the period of inflation than in the subsequent period 
 of depression, and consequently that portion of the exports 
 which is due to British labour and capital diftered in the two 
 periods much less than appears at first sight by the figures of 
 the total exports. For instance, the raw cotton imported in 
 1873 was about the same in (juantity as the raw cotton 
 imported in 1879. But the raw cotton used in our manufac- 
 tures exported cost us 14 millions more in 1873 than the same 
 quantity cost us in 1879. 
 
 The prices and exports of the inflated years were due to 
 causes which were temporaiy and accidental, and brought with 
 them a necessary reaction. Amongst other causes may be 
 mentioned —
 
 PART 11. — RETALIATION. 135 
 
 Expenditure of capital in this country on plant and ma- Depression 
 chinery, not even yet fully reproductive. ^'"ce 1873. 
 
 Investments of luiglish capital abroad, some of which were 
 wholly unproductive — e.g., the bad foreign loans ; and some of 
 which were not immediately ]:)roductive — e.g., American rail- 
 ways, but which are now in various ways bringing us a large 
 return of imports. 
 
 Advances made to assist France in paying the German 
 indemnity, which caused a large export from France and 
 England to Germany at the time, and large exports from 
 France to England and to Germany at a later time. I have 
 given the figures which illustrate this process in the Tables VIII , 
 IX., and X. in the Appendix. 
 
 All these causes have little to do with the permanent 
 demand for goods ; all of them largely increased our exports at 
 the time ; some of them proved in the end losses, whilst others 
 have helped that increase in our subsequent iirports which 
 Fair Traders seem to dread even more than losses. The infla- 
 tion, as well as the depression, is, therefore, fully accounted 
 for without any reference to closed markets or decrease in 
 permanent demand. 
 
 It is a complete mistake to suppose that extraordinarily Large Ex- 
 large exports, very high prices, and a great demand for labour ports and 
 are necessarily signs of great and permanent prosperity ; they nof neces-^ 
 are only signs of great activity. They may be caused by a sariiy Tests 
 continuous demand, and by good and reproductive invest- "^ ?™5" 
 ments of capital, in which case they are elements of permanent ^^" ^" 
 prosperity. But they may be caused by bad investments, by 
 payment of debt, or by unproductive expenditure on war, or by 
 other causes which may lead to absolute loss. If I employ a 
 thousand men to dig a hole and fill it up again, I shall cause 
 high wages, high prices, and great prosperity in my neighbour- 
 hood for a time ; but my capital will be lost, and wlien the 
 work is at an end there will be a sad reaction and relapse. 
 These are very elementary truths, but they seem to be forgotten 
 by many popular expounders of statistics. 
 
 In addition, there is another cause for a chronic and ]ierma- Apprecia- 
 nent diminution in the values of both exports and imports, to twn of 
 which I can only advert very shortly. Good statisticians are of ^ 
 opinion that the value of gold, as compared with commodities, 
 is steadily on the rise, and that it has been so since the effect of 
 the gold discoveries was exhausted. The question is too long
 
 FREE TRADE V. FAIR TRADE. 
 
 Change in 
 Mode of 
 Doing 
 Business 
 
 and difficult to be discussed here.* But if the statisticians are 
 right, as they probably are, the rise in the value of gold will 
 account not only for some diminution in the figures of value by 
 which we estimate our trade, but for a general fall of prices, 
 and also of wages, which are too frequently and hastily attri- 
 buted to commercial depression and to a decline in the pro- 
 ducing and consuming powers of mankind. 
 
 The effect of the appreciation of gold must be slow and 
 gradual, and is often concealed by the greater immediate effect 
 of fluctuations due to other causes. But its result in producing 
 a feeling of depression is probably out of proportion to its real 
 effect. Upon the real wealth of the country as a whole it has 
 not necessarily any effect at all. If, as Hume has said, every 
 one had to-morrow half as many sovereigns in his pocket as he 
 has to-day, he would be neither richer or poorer. He would 
 buy or sell for half-a sovereign what he has to buy or sell for a 
 sovereign to-day. But a time of falling prices is notoriously a 
 period of depression. It is a bad time for the larger merchants 
 who carry on the great trades of the country. When they have 
 to borrow money to complete their purchases, and it rises in 
 value before they have to repay it, whilst the commodities 
 which they buy fall in money value at the same time, they 
 suffer actual loss : and this loss probably operates on their 
 expectations and makes them less daring in business. Other 
 classes gain what the merchant loses. The retail dealer, who 
 can generally postpone a proportionate reduction of his retail 
 prices, and the consumer who ultimately gets the benefit of the 
 fall in price, share the gain between them. But it is the 
 wholesale trader who carries on the large speculative business 
 of the country, and who is listened to as its representative, and 
 he is out of pocket and out of heart at a time of falling prices. 
 
 There is another cause for chronic depression, or rather for 
 a feeling of chronic depression, to which it is worth while to 
 advert. We are told that a great change is taking place in the 
 mode in which foreign trade is conducted. Before the times 
 of steam and telegraph there was a long interval of time and 
 space between the commencement and the end of a transaction ; 
 between the original purchase and the final sale. This afforded 
 great scope for the merchant or middleman ; and his profits 
 
 * See Articles by Mr. W. Fowler in the April number, and by Mr. Giffen in 
 tl e June nunihcr of the Ctni temporary, 1885.
 
 PART II. — RETALIATION, I37 
 
 depended upon the judgment and skill with which he could Depression 
 forecast distant and future markets. At the present time the ^'"'^^ '^73- 
 state of markets is known everywhere at once by telegraph, uon ^of^'^ 
 and the period of transport is abridged by steam. The original Gold, 
 vendor and final ]nirchaser are brought nearer together, and 
 the opportunities for the skill and judgment of the middleman 
 are curtailed. The world gains on the whole by the change, 
 but the old-fashioned merchants, who have done so much to 
 make England what she is, suffer or are extinguished, and 
 from that powerful and im])ortant class we have the natural 
 cry that trade is bad, although at the same time the bulk of 
 transactions is greater than ever. 
 
 Both these causes, viz., an appreciation of gold, and a 
 change in the methods of trade, affect the same class, a class 
 which is naturally influential in expressing its feelings of de- 
 pression. That such a class should suffer is to be lamented. 
 But the losses of this class are the gains of other classes, and it 
 would be wrong to suppose that they constitute any real dimi- 
 nution in the wealth or prosperity of the country as a whole. 
 
 CHAPTER XXXII. 
 
 DEPRESSION AT THE PRESENT MOMENT AT HOME. 
 
 I HAVE left the two former chapters as they stood in the first Since 1880 
 edition, as written in 1880, with a few additions. Since that time ^^^^^ ^^.^. 
 there has been a short revival of trade followed by a depression and subse- 
 which undoubtedly exists at the present moment. The causes quent de- 
 are not hard to understand. pression. 
 
 I. Agricultural Depression has continued. 
 
 Bad seasons for the farmer continued until 1884; and the(3au5p5. 
 fair average crops of that year brought him little benefit in con- r. Agricul- 
 sequence of the low prices caused by the glut of foreign corn, ^^ral de- 
 Agricultural wages continued to rise until quite recently ; and conUnued. 
 though they are apparently now falling, they are high as compared 
 with former years. Rents have been largely reduced. The
 
 138 
 
 FREE TRADE 7'. FAIR TRADE. 
 
 conversion of arable land into pasture has continued in the last 
 two years at an accelerated ratio. The number of sheep, 
 though again on the increase, was still in 1884 nearly three 
 millions less than in 1879. The demand for agricultural 
 labour must have diminished. The injury to land done by a 
 succession of bad seasons and by want of due cultivation is 
 cumulative. It costs a great deal to bring into order a farm 
 which has for years been neglected. 
 
 In all these ways the agricultural classes have suffered and 
 continue to suffer. The loss of crops by bad seasons, by 
 diminution in stock, and by deterioration of land, is an eco- 
 nomical loss to the country generally ; and so also is the loss of 
 employment when the labourer is not, from want of versatility 
 or for other reasons, able to find other employment. The rise 
 and fall of rent or wages, and the low price of foreign corn are 
 not, as pointed out in the last chapter, an economical loss to 
 the country generally, but they cause suffering and incon- 
 venience to particular classes, whilst benefiting others, and thus 
 aggravate the general feeling of distress. A\'hat is the pecuniary 
 amount of loss sustained by the agricultural classes, and how 
 much of it is an absolute loss to the nation, it is impossible to 
 estimate with certainty, but it is, no doubt, a real and efficient 
 cause of temporary depression. Of one thing we may be sure, 
 viz., that if we should again have good seasons, and if the land 
 should again bring forth its full and fair produce, the other 
 causes of agricultural distress, whatever their social or political 
 effect, will not, under the Free Trade regime, be an economical 
 loss to the country. 
 
 It must also be remembered that agricultural depression 
 does not apply to the whole of the United Kingdom, but to the 
 corn districts exclusively, or at any rate, specially. The graz- 
 ing districts have not suffered, or at any rate, not in like pro- 
 portion. 
 
 Care must also be taken not to confound agricultural 
 distress with distress of the landed interest. A great and 
 increasing part of the land of England is used for mining, 
 manufacturing and residential purposes. Its value increases 
 with the growing wealth of the country^ and is not affected by the 
 failure of harvests. The losses of the landed classes, and the 
 silence and dignity with which they have been borne, should 
 not prevent us from remembering what are the limitations of 
 those losses.
 
 PART II. — RETALIATION. I39 
 
 2. Depression in Shipping;. 
 
 A second cause of depression is to be found in the "boom" Causes of 
 in shipping which culminated in 1883 and c()lla|)scd in 1884. ficprcssion 
 I have elsewhere (p. 161) referred to the particulars of the col- i',lomc~nt"' 
 lapse. At a period when the interest of money was falling, 2. Boom 
 and when investors had difficulty in placing their funds, came """^ subsc 
 an unprecedented demand for freights for corn, iron, and [lipase in° " 
 other commodities. Investors rushed madly into shipping, shipping 
 and the result has been a collapse of the trade here and 
 throughout the world, accompanied by the most serious cata- 
 logue of losses by shipwreck we have ever experienced, which, 
 though falling primarily on insurers, are nevertheless borne in 
 the end by the nation. 
 
 3. American Kaihvays. 
 
 In the third place there has been a similar " boom " in 3. Boom 
 American railways, as I have shown below (i). 146), and a similar ^nd collapse 
 
 ,, ■' ' \i -T /J ,,^ United 
 
 collapse. States rail 
 
 4. Boom and Collapse in Iron. ^^'' " 
 
 In the fourth place, these two "booms"' in English ship- 4- ^"on- 
 
 ping and in American railways have told upon the great iron rcviva"and 
 
 and steel industry of this country. An exceptional and excessive subsequent 
 
 demand has been followed by an excessive sun])ly, a cessation tii-'Pfession 
 
 in iron 
 
 of demand, and a glut, which still continues. The following is trade, 
 from the Economist of the loth of J^^^nuary, 1885 : — 
 
 " Looking back at the history of the iron trade during the 
 past few years, it is abundantly evident that the present troubles 
 are traceable to the 'spurt' of 1879 and 1880. The evils 
 begotten of the 'boom' of 1872-4 were, in one respect, less 
 than those following in 1879-80. In the former period, there 
 was scarcely any increase in the production of the world, whilst 
 in 1880 and succeeding years the increase was quite remarkable, 
 as the following figures will show : — 
 
 Production of Pig-iron throughout the Workl in thousands of Tons. 
 
 1883. 1882. 1881. iSSo. 
 
 20,239 .. 20,075 •• 18,966 .. 17,485 
 
 1879. 1877. 1874. 1872. 
 
 13,768 .. 13,430 .. 13,057 .. 13,906 
 
 The great inflation in prices which took i)lace during the years 
 1 87 1-5, coupled as it was with a corresponding rise in wages,
 
 140 
 
 FREE TRADE V. FAIR TRADE. 
 
 at present 
 moment 
 4. Iron. 
 
 Causes of led to some relaxation in the energy of the British workman, 
 depression ^nd SO the evil of over-production was restrained. It took till 
 1879 to bring prices back to something like their normal con- 
 dition, and had it not been for the breaking out of the American 
 demand at the close of that year, we would have likely wit- 
 nessed that ' natural ' revival which seems to follow in recurring 
 cycles. Instead of this, everything was thrown out of the 
 natural order, and we are now passing through the period of 
 reaction necessary to put matters right again. The develop- 
 ment caused by the spurt of 1879^-80 may be the better under- 
 stood from the following figures, showing the extension of 
 trade in rails, shipbuilding, &c. 
 
 Production of Rails in the United Kingdom. 
 
 Tons. Tons. 
 
 1,037,194 .. 1,235,785 
 
 Tons. 
 [,023,740 
 
 1880. 
 Tons. 
 
 1883. 
 Tons 
 
 1879. 
 Tons. 
 
 739»9io .. 519,718 
 
 T0t.1l Tonnage of .Shij^s built in the United Kingdom. 
 
 1879. 
 Tons. 
 
 Tons. Tons. Tons. 
 
 1,329,604 .. 1,240,824 .. 1,013,208 .. 796,221 .. 569,462 
 
 We estimate the total production of 1884 at 7,600,000 tons, 
 against 6,009,434 tons in 1879. The fact here revealed ex- 
 plains one of the causes of the present depression. 
 
 " Large though the volume of trade was in 1884, it was very 
 considerably under that of former years. The exports of iron 
 and steel were over 500,000 tons less than in 1883, and 800,000 
 tons less than in 1882. At home the greatest depression was 
 experienced in connection with shipbuilding and engineering. 
 It is estimated that the tonnage launched was at least 500,000 
 tons less than in 1883. This would represent at least 300,000 
 or 350,000 tons less iron and steel consumed. These figures, 
 taken in connection with some depression in other branches, 
 would represent a reduction of at least 900,000 tons in the trade 
 of 1884, when compared with the year preceding." 
 
 It is probable that the substitution of steel for iron is one 
 cause of the boom, and of the subsequent reaction. The 
 demand for the new article, steel, gave a great stimulus to the 
 manufacture. That demand has been supplied, and the new 
 article is much more durable than the old, Hence a falling 
 off in the demand,
 
 PAkT 11. — RETALIATION. 
 
 I4t 
 
 5. Glut of Corn. 
 Fifthly, there has been a glut of corn. Not that more Causes of 
 corn has been produced than is needed, but more corn than arpresem" 
 could be paid for at prices sufficient to remunerate the growers, moment, 
 who have suffered, and arc suffering, accordingly. 5- Glut of 
 
 6. Wars and Tariffs. 
 
 Sixthly and lastly, human stupidity and human jjassions have 
 had something to answer for — partly in wars and rumours of 
 war ; partly in the protectionist remedies which many countries 
 are adopting — remedies which can only aggravate the disease. 
 The evil to be cured is, not that there is more of anything 
 in the world, especially of food, than people want, but 
 that it is in the wrong place or in the wrong hands. One 
 would have thought that, so far as men are able to cure this 
 evil by law, they would try to do so by removing all legal 
 impediments which i)revent a transfer to the right place or to 
 the right hands of things which are in the wrong place or in the 
 wrong hands. But instead of this, many nations are multiply- 
 ing these impediments, and our Fair Trade friends would fain 
 have us follow their mad examples. 
 
 These causes seem to me amply sufficient to account for 
 the present depression in this country. But we should not 
 exaggerate it, more especially as there seems to be some reason 
 for thinking that the worst is at an end, and that a more hope- 
 ful feeling is beginning to prevail. 
 
 The following statistics for the last six years show that the 
 depression in this country has not hitherto been of an extreme 
 kind : — 
 
 Wars and 
 Protective 
 Tariffs. 
 
 1879 
 1880 
 1881 
 1882 
 1883 
 
 Value of Imports and Exports. 
 
 Total net Imports 
 
 in millions of 
 
 pounds. 
 
 306 
 
 348 .. 
 
 334 •• 
 
 34S 
 
 361 
 
 327 ■• 
 
 Total net Exports 
 of British produce in 
 millions of pounds. 
 192 
 .. 223 
 .. 234 
 .. 241 
 . . 240 
 .. 233 
 
 Extent of 
 depression. 
 Statistics — 
 1879 to 
 1884. 
 Trade. 
 
 In considering these figures it must be remembered that 
 they denote value, not quantity ; that prices have fallen ; and
 
 142 
 
 FREE TRADE 7'. FAIR TRADE. 
 
 Extent of that, though money values may be less, the amount of useiul 
 depression commodities may be as ^rcat as before. 
 
 at present -' ° 
 
 moment. 
 
 Entries and Entries and Clearances at Ports in the United Kingdom in millions of tons. 
 
 clearances Total. .Sailing. Steam, 
 
 of shipping. 
 
 1879 
 
 53 
 
 1880 
 
 59 
 
 I88I 
 
 5S 
 
 1882 
 
 61 
 
 1883 
 
 65 
 
 1884 
 
 64 
 
 20 
 
 22 
 
 19 
 18 
 
 17 
 
 I4| 
 
 33 
 37 
 39 
 43 
 48 
 
 49i 
 
 Railways. 
 
 Receipts from Railways in millions of pounds. 
 
 1879 
 1880 
 1881 
 1882 
 1883 
 18S4 
 
 Goods. 
 
 36 
 37 
 38 
 39 
 37 
 
 Passengers. 
 
 26 
 27 
 28 
 29 
 29 
 
 Total. 
 
 59 
 63 
 65 
 67 
 68 
 67 
 
 3rd Class 
 Passengers only. 
 
 14 
 15 
 15 
 16 
 
 17 
 17 
 
 Coal and 
 iron. 
 
 Coal ana Iron produced in thousands of tons. 
 
 
 Coal. 
 
 1879 . . 
 
 133,808 
 
 1880 
 
 146,819 
 
 I88I 
 
 154,184 
 
 1882 
 
 156,500 
 
 1883 
 
 163,737 
 
 1884 
 
 160,758 
 
 Pig Iron. 
 
 5.995 
 7; 749 
 8,144 
 8,587 
 8,529 
 7,812 
 
 Cotton 
 
 Cotton. 
 
 
 Raw Cotton used in 
 
 Yard 
 
 s of piece goods exported 
 
 
 millions of pounds. 
 
 
 in millions of yards. 
 
 1879 . . 
 
 1,173 
 
 
 3,725 
 
 1880 
 
 1,373 
 
 
 4,496 
 
 I88I 
 
 1,439 
 
 
 4,777 
 
 1882 
 
 1,461 
 
 
 4,349 
 
 1883 
 
 1,498 
 
 
 4,539 
 
 1884 
 
 1,487 
 
 
 4.417 
 
 Wool 
 
 1879 
 1880 
 18S1 
 
 Raxu IVool used in millions of pounds. 
 
 321 
 
 1882 
 
 370 
 
 1883 
 
 320 
 
 1884 
 
 357 
 340 
 381
 
 PART II. — RETALIATION. 
 
 '43 
 
 Consumption per head of ceitain articles. 
 
 
 Sugar.* 
 
 Te.-i. 
 
 cotrcf. 
 
 Tobacco. 
 
 Spirits. 
 
 
 lbs. 
 
 lbs. 
 
 lbs. 
 
 lbs. 
 
 gallons. 
 
 1879 . 
 
 66.24 
 
 . 4-70 . 
 
 roo 
 
 . I-4I . 
 
 I-II 
 
 1880 . 
 
 . 63-68 . 
 
 • 4-59 . 
 
 . 0-92 
 
 • I -43 • 
 
 1-09 
 
 188 1 . 
 
 . 67-36 . 
 
 • 4-58 . 
 
 0-89 
 
 . 1-41 
 
 I -OS 
 
 1882 . 
 
 . 70 -48 . 
 
 • 467 • 
 
 . 0-88 
 
 . 1-42 . 
 
 1-07 
 
 1883 . 
 
 • 7174 • 
 
 . 4-80 . 
 
 0-89 
 
 . I -42 . 
 
 1-06 
 
 1884 . 
 
 ■ 72-31 • 
 
 • 4-87 • 
 
 0-92 
 
 . 1-45 ■ 
 
 roo 
 
 Extent of 
 depression 
 at present 
 moment. 
 Consump- 
 tion of 
 sugar, te.T, 
 
 ' Sugar is used in manufacture of jams, biscuits, &c., as well as in direct consumption. 
 
 Average niDiibcr of Paupers in receipt of relief in England and Wales 
 in each year, enditig Lady Day. 
 
 Numbers per icoo of 
 Average Numbers. population. 
 
 1879 765,455 30 
 
 1880 . . . . . . 808,030 . . . . . , 32 
 
 1881 790.937 31 
 
 1882 788,289 30 
 
 1883 782,422 . . . . . . 30 
 
 1884 765,914 29 
 
 The particulars for the year ending Lady Day, 1885, are 
 not pubhshed ; but it appears from the monthly returns that 
 the average numbers of in-door and out-door paupers relieved 
 during the calendar years 1883 and 1884 were as follows — 
 
 Pauperism. 
 
 709,779 
 700,745 
 
 Exclusive of about 45,000 lunatics 
 and 4,000 vagrants. 
 
 The corresponding figures for the months of January and 
 February, 1885, compared with the same months of 1884, ^'■<-' 
 as follows — 
 
 
 January. 
 
 February. 
 
 
 
 
 1884 
 
 720,498 
 
 727 
 
 189 ) Exclusive of lunat 
 
 cs and 
 
 
 ISS5 
 
 735.596 
 
 742 
 
 555 ) vagrants, as above. 
 
 
 Deposits in Savings Banks in niillions 
 
 of pounds. 
 
 
 Savings 
 
 
 Post Office Banks. 
 
 
 Trustee; 
 
 
 Total. 
 
 Banks. 
 
 1879 
 
 32 
 
 
 44 
 
 
 76 
 
 
 1880 
 
 34 
 
 
 44 
 
 
 78 
 
 
 18S1 
 
 36 .. 
 
 
 44 
 
 
 80 
 
 
 1882 
 
 39 
 
 
 45 
 
 
 84 
 
 
 1883 
 
 42 
 
 
 45 
 
 
 87 
 
 
 1884 
 
 45 
 
 
 46 
 
 
 91 
 
 
 The Savings Banks also held 
 Government stock for depositors : — 
 
 the following amounts of 
 
 1883 
 1884 
 
 X 
 
 y^ 
 
 2>^
 
 144 
 
 FREE TRADE V. FAIR TRADE. 
 
 The statistics of bankruptcy and of emigration 1 do not 
 give here, as I have referred to them in the following 
 chapter. 
 
 CHAPTER XXXIII. 
 
 Depression 
 in the 
 United 
 States. 
 
 Mr. For- 
 wood. 
 
 Mr. Mc- 
 culloch's 
 report on 
 the glut in 
 manufac- 
 tures in 
 
 DEPRESSION AT THE PRESENT MOMENT IN THE UNITED 
 STATES, COMPARED. 
 
 I HAVE said elsewhere that the causes of depression are so 
 many and so various that it would be erroneous in the extreme 
 to draw absolute conclusions from particular instances without 
 a full knowledge of all the conditions. To attribute the pros- 
 perity of this country to Free Trade alone is a fallacy, which 
 enables its opponents to turn the tables on us when that pros- 
 perity sufifers a check. But if we can show that a country 
 which has carried Protection further than any other, and which 
 is at the same time our chief rival and customer — viz., the 
 United States — suffers more from the present depression than 
 we do, we may fairly conclude that our present evils are not 
 due to Free Trade, and would not be removed by Protection. 
 If we can further trace some connection between Protection 
 and the principal evils from which the United States are suffer- 
 ing, we shall raise a further presumption in favour of a Free- 
 Trade policy. 
 
 Now what is the condition of the United States at this 
 moment. Mr. William B. Forwood, of Liverpool, a most com- 
 petent witness, .says, in a letter to the Sta7idard of the i6th 
 December, 1884 — "It is not merely that the depression is 
 intense ; there are towns where not a single factory has worked 
 for months past, and tens of thousands of working men are 
 literally starving, but there is no hope that things can be better 
 — their only customers are their own people ; the tariff prac- 
 tically prohibits exports, and it is said that there are sufficient 
 cotton and woollen factories and ironworks to produce in six 
 what they can consume in twelve months." 
 
 The following is the account of the condition of United 
 States manufactures given by Mr. McCulloch, Secretary to the 
 United States Treasury, in his annual report for 1884 — 
 
 " What the manufacturers now need is a market for their 
 surplus manufactures. . . . After the war, stimulus was
 
 PART II. — RETALIATION. 1 45 
 
 found in railroad building, and in extravagant expenditures the United 
 induced by superabundant currency, and the time has now States, 
 come when the manufacturing industry of the United States is 
 in dire distress from plethora of manufacturing goods. 
 
 " Some manufacturing companies have been forced into 
 bankruptcy ; others have closed their mills to escape it ; few 
 mills are running on full time, and, as a consequence, a very 
 large number of operatives are either deprived of employment, 
 or are working for wages hardly suflicient to enable them to 
 live comfortably, or even decently. 
 
 "The all-important question that presses itself upon the 
 public attention is — How shall the country be relieved from 
 the plethora of manufactured goods, and how shall jjlethora 
 hereafter be prevented ? It is obvious that our power to pro- 
 duce is much in excess of the present or any probable future 
 demand for home consumption. The existing iron, cotton, 
 and woollen mills, if employed at their full capacity, could 
 meet in six months — perhaps in a shorter time — the home 
 demand for a year. It is certain, therefore, that unless mar- 
 kets now practically closed against us are opened — unless we 
 can share in the trade which is monopolised by European 
 nations — the depression now so severely felt will continue, and 
 may become more disastrous." 
 
 Again he tells us that the total value of the exports of 
 domestic merchandise amounted to 725 millions of dollars as 
 against 804 millions in the preceding year, showing a decrease 
 of nearly 80 millions ; and he points out that, as regards ship- 
 ping, the United States have almost ceased to be a maritime 
 power — only 1 7 per cent, of her trade being carried in her own 
 vessels. It is not often that a Minister can be found to give so 
 unfavourable an account of the industrial conditions of his own 
 country. But, unfavourable as it is, it is borne out, and more 
 than borne out, by details obtained from other sources. 
 
 Farming in the United States. 
 
 No full inquiry has been made into the state of the agri- Agriculture 
 cultural interest of the United States, but there is general '" '^*^ 
 evidence that the American corn farmer is depressed no less states, 
 than his English brother. Thus we are told that wheat cannot 
 be produced by American farmers at existing prices ; that the 
 area of wheat is much less than last year ; that the farms in the 
 West are highly mortgaged at a high rate of interest amounting 
 K
 
 146 
 
 FREE TRADE V. FAIR TRADE. 
 
 Depression to as much as lo per cent. ; that these advances were made on 
 
 I" '^^ , the basis of 80 cents to the dollar per bushel : and that wheat 
 United . !!• ^ 1 r ^ ■ 
 
 States. IS now sellmg at 16 to 40 cents, the expense of production 
 
 being 40 cents per bushel.* 
 
 Railways in n j 
 
 the United ^alue durmg i 
 
 Raihvays in the United States. 
 
 Again, if we take United States railways, the fall in their 
 is ver}' remarkable. Nearly 40 companies, 
 ."States. with an aggregate length of 11,000 miles, and ^143,000,000 
 of capital and debt, have gone into the hands of receivers.f 
 About 10 per cent, of the entire railway mileage and of the 
 normal capital invested in railway stock and bonds of the 
 United States have gone into liquidation. A still larger pro- 
 portionate number have become insolvent in the first quarter 
 of the present year. In solvent companies the "shrinkage" 
 is very great. Mr. Atkinson \ estimates " that 7,000,000,000 
 dollars worth of railway property have apparently depre- 
 ciated at least 1,500,000 dollars within the past year — or, in 
 other words, that perhaps 1,000,000,000 dollars of water 
 (nominal capital) has been squeezed out, and during the 
 process the true value of the remainder has been temporarily 
 depressed 500,000,000 dollars." He points out the obvious 
 reason, viz., that whilst during the last four years the grain, hay, 
 and meat crops of the United States, which constitute one- 
 half the substances moved by railway, have not increased more 
 than 10 per cent., the railway mileage has increased by 40 per 
 cent., viz., from 86,497 miles to 121,543 miles. § In a letter 
 to Bradstreet's Journal of 7th of February, the same statis- 
 tician says that in 1882 about 650,000 men, mostly labourers, 
 were employed in the mere construction of railroads, and that 
 in 1884 not more than 220,000 were occupied in this work — 
 thus throwing out of this work above 430,000 men. 
 
 Bankruptcies in the United States. 
 
 Bankrupt- Take, again, bankruptcies. The number of mercantile failures 
 
 cies in the jn the United States in 1 884 was larger than had been ever known 
 States. — even in the disastrous year 1878. The following is an extract 
 from Bradstreefs Jom'nal o{ '&\& 27th of December, 1884 : — 
 
 * Standard, 29th December, 1884. 
 
 t Economist, 17th January and i6th May, 1885. 
 
 '^ " Distribution of Products," p. 263. Putnam, 1885. 
 
 f Ibid., pp. 235, 238, 240, 258.
 
 PART II. — RETALIATION. 
 
 147 
 
 " The rate at wliich the increase in mercantile mortahty Depression 
 throughout the country, dependent in part, of course, on the '" '^<^ 
 increase in number of business ventures, may be gathered from stailTs^ 
 the following extract from Bradstnefs Journal : — 
 
 ^^ Fail It res in the United States for Six Years. 
 
 xr Number of 
 ^ "^^^ Failures. 
 
 Aggregate Assets. 
 
 Aggregate Liabilities. 
 
 P. c. Assets 
 to Liabilities. 
 
 1879 
 1880 
 1881 
 1882 
 1S83 
 1884* 
 
 6,652 
 4,350 
 5,929 
 
 7,635 
 10,299 
 11,600 
 
 $ 
 48,906,000 
 27,430,000 
 35,964,000 
 47,469,000 
 90,804,000 
 130,000,000 
 
 $ 
 99,636,000 
 57,120,000 
 76,094,000 
 93,238,000 
 175,968,000 
 240,000,000 
 
 49 
 
 48 
 
 47 
 51 
 
 52 
 54 
 
 * Partly estimated. 
 
 " Here is a probable increase of over 1 2 per cent, 
 in the total number of failures for 1884 as against 1883, a 
 probable gain of 44 per cent, in assets and of 37 per cent, in 
 liabilities. The totals for 1884, furthermore, promise to ex- 
 ceed any previously recorded annual total, the largest heretofore 
 having been given as 10,500 failures in 1878, with 234,000,000 
 dollars liabilities. If a comparison may be instituted between 
 1884 and 1878, with these totals, we find that the current year 
 is likely to have 1,100 more failures than that in which the 
 greatest commercial depression was experienced prior to the 
 revival of trade in 1879, ^'^^ ^^'^^ the total liabilities of failing 
 trades in 1884 promise to be about 6,000,000 dollars greater." 
 
 Nor did the increase end with 1884. The same journal 
 of 2ist March, 1885, gives the following figures for the first 
 two months and a half of the past four years : — 
 
 1882 1S83 1S84 1885 
 1797 ^691 27S7 3349 
 
 Compare these figures with those of bankruptcies in Eng- And in 
 land, for which the official figures are as follows : — England. 
 
 Number of Bankruptcies proper. Liquidations, Si hemes of Arrangement, 
 and Compositions. No. 
 
 1881 .. .. 9,727 
 
 1882 . . . . . . . . . . . . 9,041 
 
 1883 S,55S 
 
 1884 .. .. .. .. .. 4,205 
 
 K 2 
 
 January 1st to March 14th 
 
 No. of failures in the United States
 
 148 
 
 FREK TRADE V. FAIR TRADE. 
 
 Depression 
 in the 
 United 
 States. 
 
 Considering the effect of the Bankruptcy Act of 1883, it 
 would, of course, not be fair to take these English figures as 
 absolute tests of the comparative commercial solvency of the 
 trading classes in the several years referred to. The Act of 
 1883 has probably had the effect of preventing official insol- 
 vencies, and also of increasing private arrangements, though 
 whether this has been the case to any great extent is very un- 
 certain. But it may at any rate be concluded from the above 
 figures, that there has been no special unsoundness in the 
 trade of England during the year 1884, such as is shown by 
 the insolvencies in the United States. 
 
 Clearing House Business in the United States. 
 
 Clearing Take again the amounts cleared at the London Bankers' 
 
 house busi- Clearing House, and in New York, in each of the years from 
 
 ness in the o ^ ° 00 . , . 
 United 1878 tO 1884 inclusive. 
 
 ISSSl^nd I^ THOUSAM. OK ^'s. 
 
 
 At the London Bankers' 
 Cl-earing House. 
 
 In New York. 
 
 Years. 
 
 Total 
 amounts 
 cleared. 
 
 Increase or decrease in 
 
 each year compared 
 with the previous year. 
 
 Total 
 amounts 
 cleared. 
 
 Increase or decrease in 
 
 each year compared 
 wiih the previous year. 
 
 
 Amount. Per cent. 
 
 Amount. 
 
 Per cent. 
 
 1878 
 1879 
 1880 
 1881 
 1882 
 1883 
 1884 
 
 000 ij's 
 4,992,000 
 4,886,000 
 5,794,000 
 6,357,000 
 6,221,000 
 5,929,000 
 5,799,000 
 
 000 £s 
 
 — 50,000 
 
 — 106,000 
 
 + 908,000 
 
 + 563,000 
 
 — 136,000 
 — 292,000 
 
 — 130,000 
 
 — ro 
 
 — 2-1 
 
 + I8-6 
 
 +97 
 — 21 
 
 —47 
 
 — 2 -2 
 
 000 ^'s 
 3.238,367 
 4.367.153 
 5.203,381 
 6,871,226 
 6,570,436 
 5,190,142 
 3,980,604 
 
 000 £'s 
 
 (?) 
 
 + 1,128,786 
 
 + 836,228 
 
 + 1,667,845 
 
 —300,790 
 
 — 1,380,294 
 
 — 1,209,538 
 
 -3-3 
 + 34*9 
 + I9'i 
 
 +32-1 
 
 — 4*4 
 
 — 2I-0 
 
 -23-3 
 
 Note. — The business revived in both countries in 1880- 1, in the United States more 
 than in England ; and fell off in both countries in 1883-4, but in the United States far 
 more than m England. 
 
 Emigration to the United States. 
 
 Emigration Emigration, properly understood, is another test of com- 
 
 {° V^'^ parative depression. The principles which govern emigration 
 
 Stated between this country and the United States, as shown in 
 
 Mr. Giffen's annual reports, appear to be as follows : — * 
 
 * See Mr. Giffen's Report on Emigration, Parliamentary Paper, No. 52, of 
 1885, and preceding reports.
 
 PART ir. — RETALIATION. I49 
 
 Immigration lias to be taken into account as well as Depressioa 
 Emigration, and there is at times a considerable immigration '" *^*^ 
 into this country from the United States, so that it is the states, 
 balance of emigrants over immigrants to which we must look, limigration 
 In the present state of land and labour in the two countries 
 the prevailing attraction is with the United States, which has 
 the larger quantity of unoccupied land ; and the great current 
 of emigration flows, therefore, from England to the United 
 States. But not only so. The attraction in each country 
 fluctuates with the state of trade — it is greater in each country 
 when trade is good, and less when trade is bad. The fluctua- 
 tions of trade in the United States are greater than they are in 
 England, partly in consequence of their Protective system, but 
 also in consequence of other and more imjjortant causes.* 
 The attraction of the United States for labour is consequently, 
 at a period of good trade, not only positively, but propor- 
 tionately, stronger than that of this country. If we could 
 have a time when trade in the United States was very good, 
 and trade in England \ery bad, we should have the maximum of 
 attraction in the United States, and the largest amount of 
 emigration from this country. But the two countries are so 
 connected in business that trade is generally good in the one 
 country at or about the same time at which it is good in the 
 other, and vice versa. Under these conditions, when trade is 
 good, or fairly good, in both countries, the attractions of the 
 United States are, as we have seen, not only positively, but 
 proportionately greater than at other times, and consequently 
 at such times the balance of emigration to the United States 
 increases. This accounts for the fact that emigration is often 
 greatest when times are good in this country, a fact which has 
 been perverted by the Fair Traders into a suggestion that 
 emigration is the real reason why pauperism diminishes ! t 
 When the times become less good in both countries, the 
 comparative attraction of the United States becomes 
 less powerful, a return tide of immigration sets in, and the 
 balance of emigration from this country becomes less. This 
 is what has happened lately. The figures for recent years are 
 as follow : — 
 
 * See Mr. Giften's Essays on Finance, No. iv. , page 13;, on the depression 
 of trade in raw material producing countries, 
 t Fair Trade position explained, p 64.
 
 15° 
 
 KKEE TRADE V. FAIR TRADE. 
 
 Depression 
 
 I'otal arriv 
 
 ah ill, ami licj 
 
 'yarli 
 
 ires 
 
 froin, the Umtt 
 
 in the 
 
 
 and to all coimtries. 
 
 United 
 
 
 
 
 
 
 States. 
 
 
 Arrivals. 
 
 
 
 Departures. 
 
 Emigration 
 
 1S79 
 
 253,210 
 
 
 
 117,385 
 
 
 iSSo 
 
 534.465 
 
 
 
 109,007 
 
 
 1881 
 
 743,712 
 
 
 
 112,072 
 
 
 1882 
 
 869,144 
 
 
 
 133,496 
 
 
 1883 
 
 712,515 
 
 
 
 157,954 
 
 
 1884 
 
 649,491 
 
 
 
 187,706 
 
 Excess of arrivals 
 over departures. 
 135,825 
 425,458 
 631,640 
 735,648 
 554,561 
 461,785 
 
 Emigration to, ami immii^ration from, the United States, front and to 
 the United Kin,^dom, of persons of British and Irish origin only, each year 
 from 1879 to 18S4, and in the first fonr months of the year 1885 .• — 
 
 
 Emigration to 
 
 Immigration from 
 
 Period. 
 
 United States from 
 
 United States 
 
 
 United Kingdom. 
 
 i to United Kingdom. 
 
 Year 1879 
 
 91,806 
 
 20,048 
 
 „ 1880 
 
 166,570 
 
 26,518 
 
 „ 1881 
 
 176,104 
 
 29,781 
 
 „ 1882 
 
 181,903 
 
 28,468 
 
 „ 1883 
 
 191,573 
 
 46,703 
 
 „ 1884 
 
 155,280 
 
 61,466 
 
 Four months ended \ 
 
 
 1 ",981 
 
 1 
 
 30th April, 1885. / 
 
 40,174 
 
 Employ- 
 ment of 
 labour in 
 United 
 States. 
 Bradstreets' 
 inquiry and 
 report. 
 
 There was a revival of trade in 1880 which went on till 
 1 882-1 883, and the balance of emigration from this country 
 and into the United States went on increasing. About that 
 time depression commenced in both countries, and has since 
 increased. The balance of emigration following this depres- 
 sion has decreased also, and is still decreasing, showing that 
 the comparative attractions of the United States for the labour 
 of this country are decreasing, or in other words, that the 
 United States have been having a very bad time. 
 
 Employment of Labour in the United States. 
 
 Take, again, the most important feature of all — the employ- 
 ment of labour. Our own newspapers have been full of reports 
 of the depressed state of labour in the United States.* But 
 the most important evidence is to be found in Bradstreefs 
 
 * See, for instance, Times, Feb. 4tli, 1885; Economist, Jan. 3rd, 1885, &c., &.Q.
 
 PART II. RKTAI.IA'JION. I5I 
 
 Jounial. This newspaper, at the end of lust year, instituted a Depression 
 careful inquiry into the state of the leading manufacturing i" the 
 industries in the twenty-two Northern States of the Union. j^JJJgs. 
 The results are stated as follows — " There has been a general General 
 reduction in wages varying from 20 to 25 and in some cases reduction 
 to 30 per cent., taking the year through. The reduced forces 
 (?.^., number of men) at work range from t^t^ percent, to 12 ])er 
 cent., not including reductions in clerical staff. . . . The total 
 number reported out of work, due to sliutting down of establish- 
 ments, to enforced reduction of forces, or to strikes, is 316,000, 
 or 13 per cent, of the whole number busy in 1880. Of these, 
 the number out of work by strikes is not more than 5*3 per 
 cent. ' There are no less than 55,000 industrial workers idle 
 in New York, exclusive of clerks and salesmen.' ' In Phila- 
 delphia not less than 33,000.' * At Pittsburgh, nearly 1 1,000,' " 
 and so on.* The aggregate number of manufacturing opera- 
 tives thrown out of work is estimated at not less than 350,000. 
 How many of these men have found other employment or 
 where is not known, but 350,000 fewer are reported to be em- 
 ployed on these industries than were so employed two years 
 ago, and there is very great distress and want of employment. 
 Further inquiries into the rates of wages have furnished the 
 following results,! which are sufificiently important to be quoted 
 /;/ extenso. 
 
 "Rates of Reduction since July, 1882." 
 
 " Lines in 7vhich Lower Wages and Feiver Employes are 
 Conspicuous. 
 
 "In December, 1884, Bradstrecf s undertook to report the 
 extent to which industrial workers had been thrown out of 
 employment in the United States during two and one half years 
 last past. The investigation was one unicjue in journalism, and 
 was met by fairly satisfactory results, the showing being that 
 about 350,000 fewer operatives were then employed than in 
 1882, or about 14 per cent. In the present instance it has 
 undertaken to get the necessary data to determine the extent 
 to which industrial workers' wages have been reduced during 
 the same period. 
 
 " The inquiry embraces the leading manufacturing indus- 
 tries in the United States — those in which the value of the 
 goods annually produced is ecpial to or in excess of 30,000,000 
 
 * Bradstrcet's, 20th Dec, 1885. t Ibid., 14th March, 1885.
 
 152 
 
 FREE TRADE 
 
 FAIR TRADE. 
 
 dols. It was manifestly impracticable to extend the investiga- 
 tion at this time to every city and town at which these indus- 
 tries are prominent. 
 
 " In order to furnish a fair and sufficiently comprehensive 
 exhibit of the rates of wages paid and received weekly, inquiries 
 were extended, in each case, to the leading establishments in 
 eacli industry at seven cities or towns. The cities were selected 
 on the basis of the amount of capital invested and value of 
 products in each line, and are given in order under appropriate 
 classifications by industries. 
 
 "In the lines of industry covered there were, in 1880, 
 194,500 establishments in the United States out of a total of 
 all manufacturing concerns amounting to 253,800 nearly 77 
 \)er cent, of the whole. The number of hands employed was 
 2,005,000 out of 2,732,595, or 73 per cent. The total wages 
 paid by them annually amounted to 688,361,961 dols., out of a 
 grand total of 947,953,795 dols., or 72 per cent. The annual 
 value of materials used was 2,654,702,809 dols., out of an 
 aggregate of 3,396,823,549 dols., or 77 per cent., and the annual 
 total value of j^roducts was 4,101,889,676 dols., out of a grand 
 aggregate in all industrial lines amountingto 5,369,579,191 dols., 
 or 76 per cent. The industrial wages investigated represent, 
 therefore, those at seven cities in order of prominence, and 
 may be regarded as fairly typical of the rates paid to three- 
 quarters of the industrial workers of the country. The 
 investigation has been conducted at 60 cities, from which over 
 250 separate reports have been received, involving, at least, 
 1.500 special inquiries by correspondents of B7-adstreet^s 
 This does not include instances where information was refused, 
 or where it was furnished, but appeared to be faulty or likely 
 to mislead. 
 
 " 'J'here are three primary facts to be taken into account in 
 studying the classified tables of wages presented below : — 
 
 " I. With the restricted call for products, and in the effort 
 to maintain wages — under pressure from workers to have them 
 maintained — marked reductions in the number of employes 
 have been made since 1882, as pointed out in Bradstreef s, 
 December 20, 1884. As will be recalled, it was then shown — 
 that the enforced reductions in the number of employe's, those 
 thrown out by shutting down of factories and mills, and by 
 strikes and lockouts (since 1882), amounted (as reported) to 
 316,000 in 21 States, where 90 per cent, of the total of indus-
 
 PART II. — RKTALtATlON. 153 
 
 trial workers were employed ; that the grand total was probably Depression 
 nearer 350,000 than 316,000, or say 14 per cent, of the total '>i the 
 engaged in 1882 ; that at least 80,000 fewer iron and steel, states, 
 machinery and foundry, workers were employed — or 23 per Employ- 
 cent, of the total dispensed with; that 35,000 fewer clothing "^^"' °^ 
 operatives (east of Ohio), or 10 per cent. ; 20,000 fewer cotton 
 goods operatives, about 6 per cent. ; 24,000 fewer woollen 
 fabric operatives, or 7 per cent. ; about 13,000 fewer tobacco 
 operatives, or less than 4 per cent.; and about 4,700 glass 
 workers, or say i'3 per cent, of the 350,000 displaced — had 
 been thrown out. This has been one element in helping to 
 maintain the rate of wages of those remaining at work. The 
 total displaced, as enumerated, number nearly 177,000, or 
 about 5 1 per cent, of those whose services had been done 
 away with. 
 
 "2. Work has been restricted at various establishments, 
 hours having been shortened, or work furnished fewer days in 
 the week. 
 
 " 3. Employes have been given piece work in place of a 
 stated sum per day, week, or month, the quantities furnished 
 being limited in many cases. 
 
 " In addition to these, strong trades unions among iron and 
 steel, glass workers, building trades, boots and shoes, tobacco 
 and textile operatives, and in other lines, have brought a pres- 
 sure to bear to prevent reductions of wages, frequently to gain 
 an advance. 
 
 " The reductions in rates of wages in most all instances are 
 less than the gross reductions in amounts received within two 
 and one half years. The percentages of rate reductions calcu- 
 lated indicated, therefore, the apparent cut ; in some cases 
 (generally specified) it is actual, but the losses due to restricted 
 time, or to a limited quantity of piece work, are not always a 
 determinate factor. 
 
 " Several features of the exhibit are nevertheless more strik- 
 ing than any late developments regarding our manufacturing 
 industries. 
 
 " Six highly protected industries, iron and steel {also foundries Protected 
 and machine shops, etc.), clothing, cotton, woollen, tobacco, ^//^i' '"dustrif s 
 glass jnanufactures, which employed 34 per cent, of all industrial suffered 
 workers {as reported in 1880), have thrown out one half of the most. 
 total 7iumber of workers since 1882, 177,700 in number, as re- 
 ported by '■'• Brad street's^' in December, 1884.
 
 154 
 
 FREE TRADE V. FAIR TRADE. 
 
 Depression 
 n the 
 United 
 States. 
 Employ- 
 ment of 
 l.nhour. 
 
 Steel and 
 iron have 
 suffered 
 most of all 
 
 " All of these Imcs have run nearly, if not quite, as much 07i 
 short time as any others tiamed. 
 
 " They, with other textile establishments, have practically had 
 a monopoly of the larger strikes of the past year or tu<o, ivith the 
 exceptions of those in the coal regions. 
 
 " And, as exhibited with sufficient detail for generalisation in 
 the jaages report given below, they have suffered, on the average, a 
 GREA'iER reduction in rates of wa^es paid. 
 
 "Iron and steel workers and coal miners have suffered by far 
 the greatest reduction in wages from all causes, and are followed 
 by operatives in textiles. Glassmakers, thus far, have suffered 
 less, proportionately, than the above, and then only in certain 
 departments of labour. Excepting tobacco and cigars from 
 food products and the latter have suffered least of all. Wages 
 rates in the building trades and woodworking industries have 
 been only moderately depressed. Workers in leather have not 
 found their wages cut severely, and paper mill employe's and 
 printers have escaped with but a moderate reduction. The 
 average reduction in rates of wages paid and received in the 
 various lines covered have been classified as follows : — 
 
 " Food Products. 
 
 Flour mill 
 
 Bakery 
 
 Slaughterhouse 
 
 Sugar refining (in rates paid) 
 
 Liquors, malt... 
 
 Liquors, distilled 
 
 Tobacco, cigars 
 
 Tobacco, chewing and smokini 
 
 Textile Products. 
 
 Woollen goods, cloths (based on short time) 
 Woollen goods, clothing (men's) 
 Woollen goods, clothing (women's) 
 Cotton goods (cuts and short time)... 
 Silk goods (Paterson) 
 
 Metal Products. 
 
 Blast furnaces (eastern) 
 Blast furnaces (southern) 
 Blast furnaces (western) 
 Iron mills (eastern) ... 
 Iron mills (western) ... 
 
 Av. per ct. reduc 
 
 tion wages. 
 
 None 
 
 None 
 
 None 
 
 None 
 
 ... lO to 12 
 
 ... lo to 15 
 
 ... 10 to 20 
 
 ... 25 to 30 
 
 .. 10 to 15 
 
 .. 10 to 15 
 
 ■• 25 to 30 
 
 .. 151025 
 
 II 
 
 20 
 
 12 
 
 151022 
 
 15 to 22
 
 I'AKT II. RETALIATION. 
 
 155 
 
 Metal Proijucis {coii/iinicd). 
 
 Steel rail (western) ... 
 
 Steel rail (eastern) 
 
 Nail mill (western) (in rates paid) ... 
 
 Tinware 
 
 Agricultural implements 
 
 P'oundry and machinery 
 
 LUMHEK AND MaNUKACTURES. 
 
 Lunilier, sawed and planed ... 
 Sash, doors and lilinds 
 Coopers 
 Furniture makers 
 
 BuiLDiNc Trades. 
 
 Carpenters 
 
 Stone and marble cutters 
 
 Brickmakers ... 
 
 Leather and Manufactures. 
 
 Tanned and curried workers 
 Harness and saddlery workers 
 Boot and shoe workers 
 Paper makers... 
 Compositors ... 
 Glass makers — 
 
 One class ... 
 
 Another class 
 
 Others 
 
 Shipbuildnig ... 
 Coal miners ... 
 
 Av. per ct. reduc- 
 tion wages. 
 
 30 
 20 
 
 None 
 
 10 
 
 Little 
 
 10 to 15 
 
 Little 
 8 to 10 
 10 to 15 
 10 to 15 
 
 Depression 
 in the 
 United 
 States. 
 Employ- 
 ment of 
 labour 
 
 Little 
 Little 
 Little 
 
 Little 
 
 10 
 
 10 
 
 Little 
 
 Little 
 
 Inc. 10 
 
 Dec. 18 
 
 Same 
 
 20 to 40 ' 
 
 These figures from Bradstrcefs report seeni to deserve 
 special attention ; and it may be added that, whilst I am 
 revising the proofs of these sheets, it is reported that the whole 
 of the iron and steel industry west of the AUeghanies, employ- 
 ing, it is .said, 75,000 hands, is out of work. 
 
 I have elsewhere * given details concerning certain special These facts 
 manufactures in the United States, viz., of clocks, woollens, illustrate 
 copper, and steel rails, all pointing to the same conclusions, of^profec- 
 viz., that the manufacturing industries of the United States are tion 
 much more depressed at the present moment, and are in a loss 
 healthy condition than our own ; and, further, that the industries 
 which are the least healthy and most suffering arc those which 
 have been most protected, viz., .shipijing, iron and steel, and 
 
 * Pages 167 to 175.
 
 156 FREE TRADE V. FAIR TRADE. 
 
 Depression textiles. The casc is extremely interesting, for it illu.strates 
 W-^^H ^^^^' f'^^'C'^^y the doctrines of political economists on the 
 .States. subject of Protection. The first and immediate effect of Pro- 
 Itiilustrates tection in a country is to raise prices to the consumer. Whilst 
 this lasts imjiortation goes on ; the duty actually received on 
 imported articles goes into the public exchequer ; whilst the in- 
 crease of price of home-made articles goes into the pocket of 
 the native producers. The profit thus made gives an unnatural 
 stimulus to production. Capital is improperly and unhealthily 
 attracted to the protected trade ; and the home competition 
 becomes at last so severe as to reduce the price of the home- 
 trade article almost to the level of the foreign article. Protec- 
 tion, then, ceases to raise the price, though it keeps out the 
 foreign article. Then comes a plethora of home-trade goods ; 
 the trade ceases to be profitable ; manufactories are shut up ; 
 and workmen are turned off, or have to take very low wages. 
 Exportation may take place for the moment, but it cannot last 
 or be profitable, because Protection has so raised the cost of 
 manufactures as to make it impossible to compete with foreign 
 manufacturers in neutral markets. All this is just what has 
 happened and is happening in the United States. 
 
 So long as seasons and climates vary, so long as men are 
 subject to hopes and fears, commerce and industry will be 
 subject to some of those ebbs and flows which cause so much 
 uncertainty and so much human suffering. To what is 
 inevitable we must submit. But it is sad to think that these 
 ebbs and flows are aggravated by the folly of Governments 
 which, by intercepting the gifts of Providence in one direction, 
 and by ajjplying an unnatural stimulus in another, check 
 natural jjroduction, and stimulate unhealthy industries into 
 unnatural activity, to be followed by equally unnatural and 
 unnecessary prostration. 
 
 CHAPTER XXXIV. 
 
 SHIPPING. 
 
 Shipping of So much has been said about shipping that I am almost 
 
 K^n^d'*'^'^ afraid of referring to it, but it is so striking an instance of 
 
 the advantages of freedom and the impotency and mischief
 
 I'ART II. KKTAMA'IION. 
 
 157 
 
 of protection, that I must state the figures again. Most of British 
 the following are taken from the Appendix to Mr. Chamber- shipping. 
 Iain's speech, as published by the Cobden Club. 
 
 Statement of the Percentage of the Fonign Trade of the United Kingdom 
 carried on in British Ships compared (in thousands of tons). 
 
 Average of 
 Three Years. 
 
 Total Foreign Trade 
 ( rhousands of Tons). 
 
 Total carried in British 
 
 vShips 
 
 (Thousands of Tons). 
 
 Proportion of Total Trade 
 
 carried on in British Ships 
 
 (Per cent.). 
 
 1854-6 
 
 19,582 
 
 11,537 
 
 59 
 
 1857-9 
 
 22,798 
 
 13,299 
 
 58 
 
 1860-2 
 
 25.940 
 
 15,094 
 
 58 
 
 1863-5 
 
 27.613 
 
 18,193 
 
 66 
 
 1866-8 
 
 32,566 
 
 22,095 
 
 68 
 
 1869-71 
 
 37.699 
 
 25.632 
 
 68 
 
 1872-4 
 
 44,123 
 
 29.485 
 
 67 
 
 18757 
 
 49,531 
 
 33.051 
 
 67 
 
 1878-80 
 
 54,349 
 
 38.025 
 
 70 
 
 1881-83 
 
 61,468 
 
 44,084 
 
 72 
 
 Statement slio'oing the Proportion of the Tonnage of the United Kingdom to 
 the Tonnage of certain Foreign Countries at different Dates, multiplying 
 steam tonnage by four to reduce it to a common denominator zvith 
 sailing tonnage (in thousanils of tons). 
 
 
 United Kingdom. 1 Foreign Countries. 
 
 Total 
 
 Year. 
 
 Thousands of 
 Tons. 
 
 Per cent, of 1 Thousands of 
 Total. \ Tons. 
 
 1 
 
 Per cent, of 
 Total. 
 
 (Thousands of 
 Tons). 
 
 i860 
 1870 
 1S80 
 
 1883 
 
 5.942 
 
 8,950 
 14,679 
 
 18,371 
 
 42 8,143 
 
 49 9.231 
 57 11,182 
 59 12,906 
 
 58 
 51 
 43 
 41 
 
 14,085 
 18,181 
 
 25,861 
 
 3', 277 
 
 The foreign countries included are : — France, Germany, 
 Holland, Belgium, Austria, Hungary, Italy, Sweden and Norway, 
 Denmark, Greece, and the United States (oversea tonnage).
 
 158 
 
 FREE TRADE 7'. FAIR TRADE. 
 
 British 
 Shipping 
 
 French 
 Shipping. 
 
 United 
 
 States 
 
 Shipping. 
 
 Tonnage belonging to the United Kingdom. 
 (In Thousands of Tons.) 
 
 ( 3,397 Sailing. 
 1850 (The Date of the Repeal of the Navigation Laws) }^ '68 Steam. 
 
 ( 3,565 Total. 
 
 Years. 
 
 Sailing. 
 
 Steam. 
 
 Total. 
 
 Years. 
 
 Sailing. 
 
 Steam. 
 
 Total. 
 
 1869 
 
 4,765 
 
 948 
 
 5,713 
 
 1877 
 
 4,261 
 
 2,139 
 
 6,400 
 
 1870 
 
 4,578 
 
 1,113 
 
 5,691 
 
 1878 
 
 4,239 
 
 2,316 
 
 6,555 
 
 1871 
 
 4,374 
 
 1,320 
 
 5,694 
 
 1879 
 
 4,069 
 
 2,511 
 
 6,580 
 
 1872 
 
 4,213 
 
 1,538 
 
 5,751 
 
 1880 
 
 3,851 
 
 2,723 
 
 6,574 
 
 1873 
 
 4,091 
 
 1,714 
 
 5,805 
 
 1881 
 
 3,688 
 
 3,004 
 
 6,692 
 
 1874 
 
 4,108 
 
 1,871 
 
 5,979 
 
 1882 
 
 3,622 
 
 3,335 
 
 6,957 
 
 1875 
 
 4,207 
 
 1,945 
 
 6,152 
 
 1883 
 
 3,514 
 
 3,728 
 
 7,242 
 
 1876 
 
 4,258 
 
 2,005 
 
 6,263 
 
 
 
 
 
 Note. — It seems important to notice that while the aggregate of sailing and steam 
 tonnage has increased, the increase is exclusively in steam tonnage, which is more 
 effective than sailing tonnage as three or four to one. 
 
 Tonnage belonging to France. 
 (In Thousands of Tons.) 
 
 Years. 
 
 S.iiling. 
 
 Steam. 
 
 Total. 
 
 1840 
 
 653 
 
 9 
 
 662 
 
 1850 
 
 674 
 
 14 
 
 688 
 
 i860 
 
 928 
 
 68 
 
 996 
 
 1870 
 
 918 
 
 154 
 
 1,072 
 
 1879 
 
 676 
 
 256 
 
 932 
 
 1880 
 
 641 
 
 278 
 
 919 
 
 1881 
 
 602 
 
 312 
 
 914 
 
 1882 
 
 567 
 
 416 
 
 983 
 
 Over-sea Tonnage belonging to the United States. 
 (In Thousands of Tons. ) 
 
 Years. 
 
 Sailing. 
 
 Steam. 
 
 Total. 
 
 1840 
 
 896 
 
 4 
 
 900 
 
 1850 
 
 1,541 
 
 45 
 
 1,586 
 
 i860 
 
 2,449 
 
 97 
 
 2,546 
 
 1870 
 
 1,324 
 
 193 
 
 1,517 
 
 1880 
 
 1,206 
 
 147 
 
 1,353 
 
 1881 
 
 1,182 
 
 153 
 
 1,335 
 
 1882 
 
 1,137 
 
 155 
 
 1,292 
 
 1883 
 
 1,130 
 
 172 
 
 1,302
 
 PART II. — RKTALIATION. 
 
 159 
 
 Total Trade of the United States carried in United Slates and Foreign Vessels Shipping. 
 
 respectively, with the Percentage carried by each {in thousands of dollars).* 
 
 Years. 
 
 In American Vessels. 
 
 In Foreign Vessels. 
 
 Percentage in American 
 Vessels. 
 
 1840 
 
 198,424 
 
 40,802 
 
 82-9 
 
 1850 
 
 239,272 
 
 90,764 
 
 72-5 
 
 i860 
 
 507,247 
 
 255.040 
 
 66-5 
 
 1870 
 
 352,969 
 
 638,927 
 
 35-6 
 
 1881 
 
 268,080 
 
 1,378,556 
 
 16-0 
 
 1882 
 
 242,850 
 
 1,284,488 
 
 '5'5 
 
 1883 
 
 261,718] 
 
 1,290,030 
 
 16 -3 
 
 1884 
 
 264,722 
 
 1,194,118 
 
 17-5 
 
 Total Tonnage Entered and Cleared in the United States, in ecuk of the 
 years 1850, i860, 1870, 1880, 1S81, 1882, 1883, and 1884 {}<ears ended 
 2)Oth June), distingnishing American, British, and other Foreign Vessels* 
 (in thousands of tons). 
 
 
 
 Tonnage. 
 
 
 
 Percentage. 
 
 
 
 
 
 
 
 
 
 30th 
 June. 
 
 Ameri- 
 can. 
 
 British. 
 
 Other 
 Countries. 
 
 Total. 
 
 Ameri- 
 can. 
 
 British. ' °'!'" 
 ^Lounlries. 
 
 Total. 
 
 
 
 
 
 
 
 
 Per 
 
 
 Tons. 
 
 Tons. 
 
 Tons. 
 
 Tons. 
 
 Per cent. 
 
 Percent.! Percent. 
 
 cent. 
 
 1850 
 
 5,206 
 
 2,845 
 
 659 
 
 8,710 
 
 5977 
 
 32-67 7-56 
 
 100 
 
 i860 
 
 12,087 
 
 4,068 
 
 910 
 
 17,065 
 
 70-83 
 
 23-84 5-33 
 
 100 
 
 1870 
 
 6,993 
 
 9,246 
 
 2,085 
 
 18,324 
 
 38-16 
 
 50-46 11-38 
 
 100 
 
 1880 
 
 6,834 
 
 20,697 
 
 8,523 
 
 36,054 
 
 18-95 
 
 57-41 ; 23-64 
 
 100 
 
 1881 
 
 6,629 
 
 21,651 
 
 8,509 
 
 36,789 
 
 18-02 
 
 58-85 23-13 
 
 100 
 
 1882 
 
 6,658 
 
 20,583 
 
 8,116 
 
 35.357 
 
 18-83 
 
 58-22 22-95 
 
 100 
 
 1883 
 
 6,563 
 
 18,828 
 
 7,532 
 
 32,923 
 
 1 9 '93 
 
 57-19 1 22-88 
 
 100 
 
 1884 
 
 6,439 
 
 17,125 
 
 6,709 
 
 30,273 
 
 21-27 
 
 56-57 22-16 
 
 100 
 
 Our success, it is to be observed, has taken place since we pro'^^jse of 
 repealed our Navigation Laws, and deprived our shipowners United 
 of every privilege, whilst we have also given t'hem free access ||*'^^- 
 to every market for their materials. In Europe we might have '^^"'^• 
 expected to remain supreme, but, within my own recollection, 
 the United States were formidable rivals. When I was a boy 
 
 * From the United States statistics. The returns are inclusive of the I^ake 
 Trade between the United States and Canada.
 
 l6o FREE TRADE V. FAIR TRADE. 
 
 American liners were the pride of Liverpool, and careful 
 observers prophesied that United States shipowners must 
 become the carriers of the world. The following passage 
 from De Tocqueville's "Democracy in America" (vol. ii., 
 chap. X.) is curious enough to deserve quotation. 
 
 " From the Bay of Fundy to the Gulf of Mexico the coast of 
 the United States extends for nearly 900 leagues. These shores 
 form a single, uninterrupted line; they are all under the same rule. 
 There is no nation in the world which can offer to commerce 
 ports with greater depth, greater width, and greater safety, 
 
 Europe is, then, the market of America, as 
 
 America is the market of Europe; and maritime trade is as 
 necessary to the inhabitants of the United States, to bring their 
 agricultural produce to our ports, as to take our manufactures 
 to them. The Anglo-Americans have at all times shown a 
 decided taste for the sea. Their independence, in breaking 
 the commercial links which bound them to England, gave a 
 new and powerful impulse to their maritime genius. Since that 
 time the number of the ships belonging to the Union has in- 
 creased nearly as fast as the number of its inhabitants. At this 
 day it is the Americans themselves who carry to their homes 
 nine-tenths of the imports from Europe. It is the Americans, 
 too, who carry to the consumers of Europe three-quarters of 
 theex])orts of the New World.* The ships of the United States 
 fill the ports of Havre and Liverpool. One sees but few 
 English or French ships in the port of New York. Thus, 
 not only does the American merchant brave competition on 
 his own soil ; he competes successfully with foreigners on theirs. 
 
 I think that nations, like men, almost always show 
 
 from their youth the powerful features of their destiny. When I 
 see the spirit with which Anglo-Americans carry on trade, the 
 facilities they possess for doing it, the success which they 
 attain in it, I cannot help believing that they will one day 
 become the first maritime power of the globe. They are 
 impelled to take possession of the sea as the Romans were to 
 conquer the world." 
 
 Such was De Tocqueville's prophecy in 1835. And now 
 the ships of the United States are not one-fourth or, if steam is 
 taken into account, not one-seventh of those of England ! 
 
 * At this day, 1881, according to the statistics of the United States, 
 16 per cent, in value of their trade is carried in United States ships, and 84 per 
 cent, in foreign ships, of which more than two-thirds are British.
 
 PART 11. — RETALIATION, l6l 
 
 And whilst American ships carry less than one-fifth of the Shipping, 
 whole trade of the United States, ]3ritish ships carry much 
 more than one-half of that trade. 
 
 England has 50 per cent, of the ocean tonnage and carrying Present 
 trade of the entire world, and America is nowhere. If England state of 
 has special advantages from Nature, other nations have the American 
 same. As De Tocqueville truly remarks, —in seaports, in ^r*ed"with 
 harbours, in human skill and industry, and in natural aptitude British 
 for the sea, America is not inferior to ourselves ; of coal ^h'PP'"&- 
 and iron she has an ample store ; her geographical position 
 is as good as ours. Every port in the world, our own included, 
 is as free to American shi])s as to ours, whilst the Union closes 
 her trade between her Atlantic and Pacific ports to our ships. 
 But whilst we leave our shipowner to buy his materials and 
 build and buy his ships where and how he pleases, America 
 refuses to place a foreign-built ship upon her register, and 
 imposes a duty of 40 per cent, on the materials of shipbuilding. 
 At the same time, whilst she thus protects her shipowners out 
 of existence, she leaves her capital and energy free to devote 
 themselves to the production of food in her boundless realms 
 of virgin soil, and the consequence is that, whilst she is 
 developing with extraordinary rapidity those natural resources 
 of soil and climate, with which her laws have not directly 
 interfered, she has surrendered to us the field in which Nature 
 allows us to compete, and which, at one time, she seemed 
 destined to win also. 
 
 We are accustomed to think our railway interest an impor- shippin<Tas 
 tant interest, and so it is. But in current expenditure on compareii 
 skilled labour our shipping interest is still more important. ^^!jj}^^.a 
 The fixed capital of the railways is nearly 800 millions ; the interest, 
 fixed capital in ships is probably not a fourth or fifth of that 
 amount. But the working expenses of the railways in 1S80 
 were 33 ^r millions, whilst the outgoings on shipping, which give 
 employment and remuneration to a great variety of forms of 
 skilled labour, probably amount to nearly double that sum. 
 The gross income of the railways in 1S80 was 65 \ millions. 
 What the gross income of ship[)ing was we have no means of 
 estimating exactly ; but it must have been very large indeed, 
 probably much more than that sum. Our shipping interest is 
 one of which the nation may w^ell be proud. 
 
 I have left the above as it was written in 1880. Since Present 
 then, as every one knows, shipping has suffered severe dc- depression. 
 L
 
 1 62 FREE TRADE V. FAIR TRADE. 
 
 Shipping, prcssion. The great prosperity of the trade down to the year 
 Present 1883 had, as is too often the case, the effect of tempting capital 
 depression. -^^^^ ^j^^ trade, and of producing an over-supply. 
 
 I cannot give the facts better than in the words of Mr. 
 Williamson, M.P.* 
 
 "In 1875 the sailing tonnage of the United Kingdom 
 amounted to ... ... ... ... ... 4,144,504 tons. 
 
 The steam tonnage to ... ... ... 1,943,197 ,, 
 
 Together ... 6,087,701 ,, 
 
 " In 1883 the sailing tonnage was ... 3,471,172 ,, 
 
 The steam tonnage had risen to ... 3,725,229 „ 
 
 Together ... 7,196,401 ,, 
 
 " But that is only a partial and misleading view of the real 
 state of the case, for, seeing that steam vessels do three times 
 the work of sailing ships, it Avould appear that, in eight years, 
 the carrying capacity of the mere increase in our steam ton- 
 nage since 1875 is more than equal to the entire carrying 
 capacity of our mercantile navy of sailing ships at the present 
 time. The real increase in the capacity for work of our ton- 
 nage since 1875 would more accurately be represented by the 
 following figures : — 
 
 1875 — Sailing ships ... ... ... 4,144,504 tons. 
 
 Steam, 1,943,197 tons, multiplied 
 by 3 to compare with sailing 
 ship tonnage 5,829,591 „ 
 
 Joint capacity for work ... 9,974,095 ,, 
 
 1883— Sailing ships 3,471,173 „ 
 
 Steam, 3,725,229 tons, multiplied 
 by 3 to compare with sailing 
 ship tonnage ... ... ... 11,175,687 „ 
 
 Joint capacity for work ... 14,646,860 „ 
 " Such an increase has been altogether wild and unjustifi- 
 
 * Article in Fortnightly, of Januarj', 1885.
 
 PART II. — RETALIATION. 163 
 
 al)le, seeing our import and export trade lias not grown of late Shipping. 
 years to any aj^jpreciable extent, and that our foreign commerce f*''<^^c"'. 
 has for the present lost its former elasticity. The member for 
 Birkenhead, who is a shipowner, chooses to pour out his sor- 
 rows on the floor of the House of Commons, and entreats 
 Parliament to find a remedy. It would be more becoming 
 that shipowners should seek some secluded spot and shed 
 penitential tears over mistakes and miscalculations, which it is 
 utterly beyond the power of the House of Commons to remedy. 
 We shipowners (for I must myself speak as an erring member of 
 the body) have seen the enormous yearly increase in our ton- 
 nage, and we gave no heed to the lesson till adversity has 
 shown us our folly. As an instance of folly, I may state that 
 one steamship company, which has come into existence within 
 the last few years, and which has had to create trades for its 
 vessels, has floated about two miles in consecutive length of 
 steamships within a very short space of time. Not only has 
 ill-advised enterprise of this description been most unprofitable 
 to those concerned, but it has spread dismay among all the 
 other companies with which its necessities have compelled it to 
 enter into competition." 
 
 It may be added that this unhealthy competition has had 
 also the effect of leading persons who had no knowledge of the 
 business to invest money in it, too often imprudently and in- 
 cautiously, and has thus been one amongst other causes of the 
 state of things which has led to the present Royal Com- 
 mission on Unseaworthy Ships, Loss of Life at Sea. In 
 this place it may not be amiss to refer to one infringement of 
 Free Trade principles which had the effect of aggravating the 
 evil, viz., the French bounties on shipping, which induced an 
 unnatural activity in English shipbuilding yards, for the purpose 
 of supplying French owners with English-built ships, before the 
 period at which protection to French-built ships should come 
 into complete operation. 
 
 It need scarcely be added that the dej^ression in question 
 is, of course, fully shared by foreign shipping. Indeed, the 
 proportion of British shipping employed in our own carrying 
 trade has increased during the year 1884. The shipjiing built 
 in the year has decreased from 892,000 tons in 1S83 to 588,000 
 in 1884. A diminution in sui)ply and a continued increase in de- 
 mand will, no doubt, in course of time remedy the j^resent suffer- 
 ing. Meanwhile we more than hold our own with other nations 
 L 2
 
 164 FREE TRADE ?'. FAIR TRADE, 
 
 CHAPTER XXXV. 
 
 SPECIAL INSTANCES OF THE EFFECTS OF FREE TRADE AND 
 OF PROTECTIVE DUTIES ON PRODUCTION — LEATHER, SALT, 
 SILK, CLOCKS, WOOLLENS, STEEL RAILS, COPPER, BISCUITS, 
 WIRE. 
 
 There are one or two special illustrations of the benefit of free 
 tariffs in forwarding production, which it may be worth while 
 to mention specially. 
 
 Leather. 
 
 Leather, At the recent Leather Exhibition in this country it appeared 
 
 Increase of that the exportation of boots and shoes from this country was 
 tures^of.'^" l3,rgely increasing, whilst the importations from France and 
 other countries were decreasing, and at the same time the 
 importation of tanned and dressed hides into this country 
 was largely increasing. The following is the statement in 
 the report in the Times of the 27 th September, 1881 : — 
 
 " The increase in the number of exhibits this year as com- 
 pared with last is, roughly speaking, proportional to the improve- 
 ment which has in the interval taken place in the trade of our 
 boot and shoe manufacturers, the Board of Trade returns for 
 the seven months ending July 31st, this year, showing that, we 
 exported 3,277,740 pairs of boots and shoes, in that period 
 against 2,800,992 in the corresponding period of 1880. and 
 3,071,424 in 1879. Our Australian colonies took 1,309,752 
 pairs. The imports of boots and shoes, on the contrary, showed a 
 decline. While 1,041,624 pairs were imported from France and 
 other countries in the first seven months of 1879, only 71 1,420 
 pairs were imported in 1880, and but 572,232 pairs in the corre- 
 sponding period this year." 
 
 " From these figures it is argued that our English manu- 
 facturers are rapidly improving the quality and finish of their 
 goods, and are so enabled to compete successfully with Conti 
 nental makers. Of materials, on the other hand, importations 
 show an increase. In the first seven months of 1879 we
 
 TART II. — RETALIATION. 165 
 
 imported 21,144,765 pounds weight of tanned and dressed special il- 
 hides ; in 1880 the quantity had risen to 26,516,269 lbs., and in lusti^ations. 
 1881 to 28,686,360 lbs." 
 
 It further appeared from the speech of Mr. Jackson, M.P., Free Im- 
 that we import tanned leather to the value of three millions a o°pQr^"n 
 year, that much of this leather comes from America, and that Hides, 
 live cattle come here from America, that they are killed here, 
 that their skins are sent back to America to be tanned, and 
 that they are then sent back here to be used in manufacture. 
 The reason, as I am informed, is not that we do not tan hides 
 as well as the Americans ; but that they, adopting newer 
 and rougher methods, do the first part of the process more 
 quickly and cheaply than we do, so that it is worth while to 
 commence tanning in America, and then send back the 
 hides to be completely tanned, and then used, in England. 
 If so, it is a remarkable instance of modern division of 
 labour, and of the advantage of free, cheap, and speedy 
 communication. 
 
 It would, no doubt, save labour and expense if we could Leather, 
 do the whole of the process of tanning as cheaply as the Tanning 
 Americans, and it is to be hoped we rnay learn to do so. But f "'jures'of 
 our present system gives us both the finer process of tanning 
 and the manufacture for export as well as for home consumption 
 of cheap boots and shoes ; whereas, if we imposed a tax on 
 tanned hides for the supposed benefit of our tanners, we should 
 probably destroy all prospect of improvement in our own 
 tanning, and we should still more probably ruin our manu- 
 factures of boots and shoes, and divert it to our foreign 
 rivals. 
 
 In turning to the returns, in which attempts have been 
 made to discriminate between raw materials and manufactures, 
 I find tanned hides inserted among manufactures. And in 
 turning to the tariffs of foreign countries, I find that tanned 
 leather is subject to a duty in France, Germany, Russia, 
 Denmark, Sweden, Norway, Austria, Italy, and the United States. 
 They would become more formidable competitors if they would 
 give to their skilful and ingenious workers in leather the benefit 
 of untaxed hides ; but this they dare not do, for fear of their 
 agriculturists. 
 
 From the most recent reports, it appears that this branch of 
 English trade continues to be prosperous. The exports of 
 manufactured leather grew very largely until 1882, and have
 
 i66 
 
 FREE TRADE T. FAIR TRADE. 
 
 since remained large. The imports of raw materials, in the 
 shape of hides, continue to increase ; and though the exports 
 of boots, shoes, and other manufactured articles were not quite 
 so large in 1884 as in some previous years, they maintained a 
 high figure, and appear, by the most recent returns, to be on 
 the increase.* 
 
 Sa/f. 
 
 Take, again, salt. Salt enters largely into manufacture. 
 It is a chief material of alkali, and alkali of glass. France 
 imposes a heavy duty on salt. In this country it is free and 
 cheap. We export a large and increasing quantity of alkali 
 (nearly 7,000,000 cwts. in quantity, and ^2.400,000 in value, 
 in 1880; and somewhat more in quantity, though less in value, 
 in 1883), and a large and increasing quantity of glass 
 (;!^i, 000,000 in value in 1880, and more, both in quantity and 
 value, in 1883), whilst neither alkali nor glass appear among 
 the principal articles of French export. Chemicals in the 
 French list may possibly include " alkali," but, if so, I find 
 that the export of French chemicals increased little, if at all, 
 in the 10 years ending with 1880, and was then only 56,700,000 
 francs, whilst the export of English chemicals increased from 
 p^733,422 in 1866 to ^^2, 384,021 in 1880. In this case we 
 can probably produce salt more cheaply than Franc'e, owing to 
 our geological formations. But she enhances her natural 
 difficulties by an artificial one. 
 
 Si/k. 
 
 Again, if we take silk, which is a special French manu- 
 facture, it appears that France exported to us silk goods, 
 the produce of her own manufacture, to the amount of 6\ 
 millions sterling in i860 before the French treaty came 
 into operation, and to the am.ount of 10^ millions in 1866, 
 whilst the amount she exported to us in 1884 was only 3I 
 millions ; and I am informed that this diminution is due to the 
 protective duty she levies on cotton yarns, which are wanted to 
 mix with the silk, and which her manufacturers have con- 
 sequently to pay dear for, whilst her successful rivals in Switzer- 
 land get their cotton yarns duty free. This subject has been 
 
 * See report in money article of Times of 19th Januani', \i 
 Trade returns for March, 1885. 
 
 5, and Board of
 
 PART II. — RETALIATION. 167 
 
 lately much mooted in France. The following is an extract Special il- 
 from the Standard oi 2>^^i December, 1884:— "The Lyons ''isiraUons. 
 silk weavers maintained that many of the yarns could not be 
 obtained elsewhere than in England, and that the competition 
 of their intlustry with the silk industries of other countries was 
 rendered absolutely imi)ossible owing to the high customs to 
 be paid on this their raw material. The cotton spinners of the 
 northern districts, fancying their interests menaced, lost no 
 time in protesting against the conclusions of the Lyons delega- 
 tion, and contended that the distress among the weavers or 
 Lyons was as nothing compared with that prevailing in the 
 cotton districts." The remedy suggested by the President of 
 the Lille Chamber of Commerce is very curious. It is to 
 raise the duties on agricultural products, to make food dearer 
 to all classes, and to restrict foreign trade, in order that by this 
 means French agriculturists may grow rich, and become better 
 purchasers of French manuflictured goods ! Li a French 
 ohicial report,'' I find that at St. Etienne, where silk ribands 
 are the great manufacture, and where cotton yarns are used as 
 one of the principal materials of the mixed fabrics now in 
 fashion, the value produced has decreased in a few years from 
 93 to 43 millions of francs ; the population has decreased in 
 two years by 25,000; 10,000 hands are out of work; and 
 30,000 deprived of means of livelihood. Li Lyons and its 
 neighbourhood things are little better. Upwards of 100,000 
 hands are hard hit from the same cause. The exports of silk 
 goods from France, which were worth nearly 500 millions of 
 francs in 1874, were worth less than 300 millions in 1883, and 
 the imports had increased in the same time. Many causes are 
 alleged for this depression in the French silk trade, amongst 
 others the heavy octroi duties on articles of consumption, and 
 the heavy national taxation. But the chief permanent cause 
 alleged is the duty on cotton yarns, which is imposed for the 
 purpose of protecting the French cotton spinners of the North. 
 And the remedy proposed is to lower these duties ; and also to 
 give a bounty on the export of French ribands ! Meanwhile, 
 I find that the exports of silk manufactures from England, 
 which had dropped from a million and a half in i860 to a 
 million in 1867, rose in 1880 to two millions, and in subse- 
 quent years to two millions and a half. 
 
 * No. 3446 of 1884. Report by M. I^"iiij53.int, presented toCliamberof 
 Deputies.
 
 i68 
 
 FREE TRADE 7'. FAIR TRADE. 
 
 Clocks. 
 
 Special il- Take, again, clocks. The American clock manufacturers 
 
 lustrations, have for a great many years been the only makers who supplied 
 the rest of the world with ordinary mantel clocks. A large 
 EngiancT business has been done, especially in those countries, such as 
 and United England and the British Colonies, whose mantelpieces are 
 States. used. Until a few years ago they had the field to themselves, 
 when the same goods began to be made in England and Ger- 
 many. Clocks thus made are gradually pushing the American 
 goods out of the market. The difference in price to day 
 is so large that it is possible to day to deliver some of these goods 
 in America, with the 30 per cent, duty and freight, cheaper than 
 the American goods. This is due to the great expense of 
 American labour, and also of the fine materials of which clocks 
 are made, and which has to pay the enormous American duty. 
 Under the.se circumstances, American makers are losing the 
 power of exporting, and are even out-sold at home, as is shown 
 by the following figures : — 
 
 Years. 
 
 Import of clocks from the 
 
 United States into the 
 
 United Kingdom. 
 
 Export of clocks and watches 
 fof British produce) from the 
 United Kingdom to the Uni- 
 ted States. 
 
 1880 
 1881 
 1882 
 1883 
 1S84 
 
 Value. 
 
 £. 
 153,815 
 126,466 
 129,159 
 
 112,175 
 106,914 
 
 Value. 
 I 
 
 29,979 
 44,431 
 73,142 
 
 83,273 
 Not stated. 
 
 Woollens 
 in United 
 States. 
 
 Wool and Woollen Goods. 
 Take, again, the wool and woollen goods. On them there 
 were in the United States small protective duties before the 
 Civil War. These duties were largely increased during the 
 war, and were so arranged as to give manufacturers of woollen 
 goods compensating duties for the duties on wool; compen- 
 sating duties for other internal taxation — since repealed ; and 
 protective duties in addition. These duties were, at the in- 
 stance of wool growers and manufacturers, altered in 1867, so 
 as to raise both the compensative and protective duty, and 
 they now amount to from 50 to 100 per cent, on manufactured 
 goods. The following is the practical result, extracted from 
 Taussig's " History of the United Stfites Tariff" ;— ■
 
 PART II. — RETALIATION. 169 
 
 "The most remarkable fact in the history of this piece of Special il- 
 legislation was its failure to secure the object which its »"s"'a*'o"S' 
 supporters had in mind. Notwithstanding the very great 
 degree of protection which the manufacturers got, the pro- 
 duction of woollen goods proved to be one of the most un- 
 satisfactory and unprofitable of manufacturing occujjations. 
 As a rule, a strong protective measure causes domestic pro- 
 ducers to obtain, at least for a time, high profits ; though under 
 the ordinary circumstances of free competition jjrofits are 
 sooner or later brought down to the normal level. But in the 
 woollen manufacture even this temporary gain was not secured 
 by the home producers after the Act of 1867. A few branches, 
 such as the production of carpets, of blankets, of certain 
 worsted goods, were highly profitable for some years. These 
 were the branches in which the compensating duties were 
 most excessive, and the prominent manufacturers engaged in 
 them had done most to secure the passage of the Act of 1867. 
 Profits in these branches were, in course of time, brought 
 down to the usual level, and in many instances below the usual 
 level, by the increase of domestic production and domestic 
 competition. The manufacture of the great mass of woollen 
 goods, however, was depressed and unprofitable, even during 
 the years immediately following the Act, notwithstanding the 
 speculative activity and superficial prosperity of that time. 
 Not only then, but throughout the period between 1867 and 
 the present, there can be no doubt that the manufacturers have 
 been steadily complaining, and have steadily found it difficult 
 to make even average profits on their goods. One great cause 
 of this undoubtedly has been that the tariff of 1867 gave par- 
 ticularly high protection on the cheaper and commoner grades 
 of goods, and that domestic producers have been tempted to 
 devote themselves too exclusively to making such goods. The 
 high duty on wool, and the consequent hampering of the 
 manufacturer in the choice of his material, have tended in the 
 same direction. The majority of finer woollen goods are at 
 present imported, and the manufacture in this country is con- 
 fined chiefly to cheaper grades. The competition in the latter 
 has been keen, and the production greater than the market 
 can easily absorb. The entire absence of foreign comjietition 
 has at the same time caused the machinery and methods of 
 production in many mills to be backward and inefficient. 
 
 " Moreover, the unprosperous state of the manufacture has
 
 lyo 
 
 FRKK TRADE 
 
 FAIR TRADE. 
 
 had a depressing effect on the prices of wool, and on the wool 
 growers. It is often said that the artificial condition of the 
 tariff, in causing the manufacturers to confine themselves chiefly 
 to cheap goods, has prevented the wool growers from obtaining 
 any benefit whatever from the high duties on their material. 
 However this may be, it is certain that the expectations of the 
 wool growers, founded on the Act of 1867, were greatly disap- 
 pointed. The final result of the existing system has been an 
 increase of cost to consumers, Avithout any permanent benefit 
 to producers." * 
 
 The exports of woollen manufactures from the United States 
 have been as follows : — 
 
 
 Aggregate 
 
 To the 
 
 
 Aggregate 
 
 To the 
 
 
 values 
 
 United 
 
 
 values 
 
 United 
 
 
 exported. 
 
 Kingdom. 
 
 
 exported. 
 
 Kingdom 
 
 1879 . 
 
 • LT2;29^ ■ 
 
 . /.2,o83 
 
 1882 . 
 
 . ;/^85,000 
 
 •• £3,12$ 
 
 1880 . 
 
 45,208 
 
 2,70s 
 
 1883 . 
 
 • 76,250 . 
 
 1,666 
 
 I88I . 
 
 • 68,958 . 
 
 3,125 
 
 1884 . 
 
 . 146,666 
 
 . 28,125 
 
 In Bradstrcefs Journal, of the 30th December, 1882, I 
 find the following statement: "The New England mills may 
 be said to employ 12,000 fewer hands than in 1882. The 
 woollen industry has suffered for a year or two more than 
 cotton." 
 
 Compare with this the account of the English woollen in- 
 dustry, which is neither hampered nor fostered by tariff 
 arrangements. 
 
 A competent observer says — 
 
 "It is consolatory to be able to turn from the consideration 
 of distressed industries to some which are, upon the whole, 
 prosperous, and in which artisans and operatives are fully em- 
 ployed. One such is the worsted and woollen trade of York- 
 shire — more especially of Bradford. It is most gratifying to 
 find in that centre of industry, which was filled with gloom and 
 an.xious forebodings a couple of years ago, that the population 
 is now fully employed, and that some machinery is actually 
 standing idle from want of a sufficient supply of skilled opera- 
 tives to keep it going." t 
 
 * tS- * * * 
 
 This is borne out by the following official returns of exports. 
 
 * Taussig's " History of the Existing Tariff," chap. iii. p. 65. Putnam, 1885. 
 t Article by Mr. Williamson, M.P. , on Agricultural and Commercial De- 
 pression, in \\\^ Fortnightly Rcviczu for January, 1885, p. 77.
 
 PART II. — KKTALIATION. 
 
 171 
 
 IVooilcn iVaiiiifactures Exported froDi the United Kingdom, 1879 — 1884, Special il- 
 in the aggregate, and to the United States. lustrations. 
 
 
 Aggregate value 
 
 Exported to the United States. 
 
 Years. 
 
 exported from the 
 
 
 
 
 United Kingdom. 
 
 Quantity. 
 
 Value. 
 
 
 Yards. 
 
 £. 
 
 1879 
 
 15,861,166 
 
 33,040,300 
 
 1,572,210 
 
 1 880 
 
 17,265,177 
 
 40,646,800 
 
 2,530,700 
 
 1881 
 
 18,128,756 
 
 32,948,200 
 
 2,227,542 
 
 1S82 
 
 18,768,634 
 
 42,412,900 
 
 2,859,311 
 
 1883 
 
 18,315.575 
 
 44,508,500 
 
 3,015,269 
 
 1S84 
 
 20,131,252 
 
 41,656,800 
 
 3,144,611 
 
 Steel Rails. 
 
 Take, again, the case of steel rails. The following is an steel rails 
 extract from the same authority as I have quoted above : — * j? United 
 
 " During the great demand for railroad materials which 
 began on the revival of business in 1879, ^'^'^^ continued for 
 several years thereafter, the prices of steel rails were advanced 
 so high that English rails were imported into the United States 
 even though paying the duty of one hundred per cent. During 
 this time the price in lingland was on the average, in 1880, 
 about 36 dols. per ton, and in 1 88 1 about 31 dols. per ton. 
 In the United States, during the same years, the price averaged 
 67 dols. and 61 dols. per ton. That is, consumers in the 
 United States were compelled to pay twice as much for steel 
 rails as they paid in England. Anything which increases the 
 cost of railroad building tends to increase the cost of trans- 
 portation, and a tax of this kind eventually comes out of the 
 pockets of the people in the shape of higher railroad charges 
 for carrying freight and passengers. The domestic producers 
 of steel rails secured enormous profits of one hundred per 
 cent, and more on their capital during these years. These 
 I'rofits, as is always the case, caused a great extension of 
 production. The men who had made so much money out of 
 Bessemer steel in 1879 — i88i put this money very largely into 
 establishments for making more steel. New works were erected 
 in all parts of the country. At the same time the demand fell 
 off in consequence of the check to railroad building, and the 
 increased supply, joined to the small demand, caused prices 
 here to fall almost to the English rates. But during the years 
 
 * Taussig's "History of the United States Tariff," p. 69.
 
 172 
 
 FREE TRADE V. FAIR TRADE. 
 
 Special il- of speculation and railroad building, the tariff had yielded 
 lustrations, great gains to makers of steel rails, and popular feeling against 
 Steel rails, ^.j^jg gj^^g ^f things was SO Strong that, in 1883, Congress felt 
 compelled to make a considerable reduction in the duty * — a 
 reduction, however, which has no practical effect, because the 
 unnatural increase in production in the United States owing to 
 the protective duty, and the subsequent decrease in demand, 
 have lowered the price of steel rails in the United States so 
 much that the reduced duty is still prohibitory." 
 
 The following table shows that the people of the United 
 States have had to pay to their steel rail manufacturers prices 
 varying from 30 to 50 per cent, more than has been paid in 
 England. 
 
 Prod net, Imports, and Fofcign and Doimstic Prices in Dollars of 
 Bessemer Steel Rails. 
 
 Year. 
 
 Product in 
 United States. ' 
 
 Imports into 
 United States.* 
 
 Average 
 Price in 
 United 
 States.2 
 
 Average 
 
 Price in 
 
 England.* 
 
 Average 
 Difference 
 in Price. 
 
 1871 
 
 38,300 
 
 Not given. 
 
 9170 
 
 57-70 
 
 34-00 
 
 1872 
 
 94,000 
 
 150,000 
 
 9970 
 
 67-30 
 
 32-40 
 
 1873 
 
 129,000 
 
 160,000 
 
 95-90 
 
 74-40 
 
 21 -50 
 
 1874 
 
 145,000 
 
 101,000 
 
 8470 
 
 57-50 
 
 27-20 
 
 1875 
 
 291,000 
 
 18,000 
 
 5970 
 
 44-10 
 
 15-60 
 
 1876 
 
 412,000 
 
 none. 
 
 53-10 
 
 37-70 
 
 15-40 
 
 1877 
 
 432,000 
 
 ,, 
 
 43-50 
 
 31-90 
 
 11-60 
 
 1878 
 
 550,000 
 
 „ 
 
 4170 
 
 27-20 
 
 14-50 
 
 1879 
 
 684,000 
 
 25,000 
 
 48 '20 
 
 24-70 
 
 23-50 
 
 1880 
 
 954,000 
 
 158,000 
 
 67-50 
 
 36-00 
 
 31-50 
 
 1881 
 
 1,330,000 
 
 249,000 
 
 6i'io 
 
 31-20 
 
 29-90 
 
 1882 
 
 1,438,000 
 
 182,000 
 
 48-50 
 
 30-00 
 
 18-50 
 
 1883 
 
 1,286,000 
 
 38, 220 
 
 37-75 
 
 25-40 
 
 12-35 
 
 18S4 (Tan.) 
 
 ~ 
 
 
 34 -co 
 
 21-80 
 
 12-20 
 
 1 In net tons of 2,000 lbs. 
 
 Price per gross ton of ^,240 Ibs.f 
 
 The exports of steel rails from the United States are very 
 small, varying in values from ;^i,ooo to ;!^24,ooo a year. 
 
 Copper. 
 Take again the case of copper. 
 
 The following is a further extract from Taussig's " History 
 of the United States Tariff" :— 
 
 * Taussig, chap. iii. pp. 69, 70 f Ibid., p, 107.
 
 fART II. — RETALIATION, I75 
 
 " Before 1869 the duty on copper ore had been 5 per cent. ; .special il- 
 that on copper in bars and ingots had been two and a half lustrations, 
 cents per pound. Under the very low duty on copper ore, ^OPP*^""- 
 a large industry had grown up in Boston and Baltimore. 
 Ore was imported from Chili, and was smelted and refined 
 in these cities. But during the years immediately preceding 
 1869 the great copper mines of Lake Superior had begun 
 to be worked on a considerable scale. These mines are 
 probably the richest sources of copi)er in the world, and, 
 under normal circumstances, would supply the United States 
 with this metal more cheaply and abundantly than any other 
 country ; yet, through our Tariff policy, these very mines have 
 caused us for many years to pay more for our copper than any 
 other country. The increased production from these, mines, 
 with other circumstances, had caused copper to fall in price in 
 1867 and 1868, and their owners came before Congress and 
 asked for an increase of duties. Copper ore was to pay three 
 cents for each pound of pure copper, equal to twenty-five or 
 thirty per cent, in place of the previous duty of five per cent., 
 and ingot copper was to pay five cents per ])ound instead of 
 two and a half cents. A more open use of legislation for the 
 benefit of private individuals has probably never been made. 
 The effect of the Act was, in the first place, to destroy the 
 smelting establishments which had treated the Chilian ores. In 
 the second place, it enabled the copper producers at home to 
 combine, and to settle the price of their product without being 
 checked by any possible foreign competition. It is a well- 
 known fact that the mining companies of Lake Superior, \vhich 
 controlled, until within a year or two, almost the entire pro- 
 duction of copper in the United States, have maintained for 
 many years a combination for fixing the price of coi)per. Their 
 price has been steadily higher than the price of copper abroad, 
 and when they have found it impossible to dispose of all their 
 product at home at the combination price, large quantities have 
 been sent abroad, and sold there at lower prices, in order to 
 relieve the home market. Several of these companies have 
 paid for a series of years enormous profits — profits due in part, 
 no doubt, to the unsurpassed richness of their mines, but in 
 part also to the Copper Act of 1869." * 
 
 Compare with this account an account of the copper trade 
 
 * Taussig's " History of tlie Existing Tariff," cli. iii. p. 65.
 
 174 FREE TRADE V. FAIR TRADE. 
 
 in England, by the same competent authority I have referred 
 to before * — 
 
 " The copper trade all through the late period of depression 
 has been well maintained. If copper smelters have not been ex- 
 ceedingly prosperous — owing, perhaps, to the rapid and steady 
 decline in the price of copper — their works and their men have 
 at least been fully occupied, and their industry has grown of late 
 by leaps and bounds. It may be of interest to give a few 
 figures relating to the copper trade. The following have been 
 the deliveries to smelters and others of foreign copper, con- 
 sisting of copper ores, half smelted copper, and bars, at the 
 ports of London, Swansea, and Liverpool, stated in tons of 
 pure copper — 
 
 iS8o 64,451 tons. 1882 67,38210115. 
 
 1881 63,397 ,, 1883 ... • ... 73,394 „ 
 
 1884, up to 15th December, 84,441 tons, which 
 
 may be taken /;'o ra/a for the twelve months as 88,112 ,, 
 
 " The supply from the Cornish mines has fallen off very 
 markedly during the last quarter of a century, and must ere 
 long become extinct, not from failure of the ores, but because 
 the mines cannot be worked in competition with rich copper 
 mines abroad. The following data may be interesting. In 
 the year 1800 the produce of British mines forming the entire 
 supply was 11,500 tons pure copper. In 1832, the year before 
 any foreign copper was imported, the total had only risen to 
 11,941 tons pure copper. In 1833, foreign ores from Cuba 
 and Chili were imported to a limited extent, but smelters had 
 to give bond to re-export the copper product within six 
 months, and were on that account often forced to sell for 
 France at ^2^5, or even ;^io, per ton under the price which 
 they were getting in Birmingham. These fetters and restric- 
 tions were swept away with the Navigation Laws, and ever 
 since the copper trade has increased rapidly, and continues to 
 grow marvellously. The Cornwall and other British copper 
 mines attained their maximum importance in 1856, when they 
 yielded 13,275 tons of pure copper. In 1862 the production 
 had fallen to 11,268 tons; 1875 production gave only 3,370 
 tons, 1880 gave only 2,783 tons, 1883 gave 2,526 tons, and 
 1884 only 2,410 tons. It results, therefore, that our copper 
 industry, which half a century ago was fed entirely by the 
 
 * Article by Mr. Williamson, ForUiightly, Jan., 1885.
 
 PART II. RKTAIJATION. 
 
 175 
 
 produce of our own mines, and whicli was established solely to Special ii 
 ' ... , , ' , , . r 1 lustrations, 
 
 Utilise that produce, came, through the operation of unrestricted Copper. 
 
 commerce, to be fed in 1884 as follow.s, viz. — 
 
 " From the home sources of .supply with 
 From foreign sources witli 
 
 2,416 tons. 
 88,112 „ 
 
 " Who can doubt but that the operation of our unrestricted 
 commercial policy has been, in regard to this great industry, 
 of the most beneficent character ? Yet the ruined British 
 copper miners might have called out in past years as lustily 
 as some British landowners are now doing for inquiries in 
 order to make good a demand for protective duties. Had 
 such a demand been granted to the copper miners of Corn- 
 wall, the copper trade might have been strangled, and the 
 development of this important indu.stry in England might 
 never have obtained the pre-eminence it enjoys." 
 
 The exports of British copper amount in value to three 
 millions and a half, and are increasing. The following Table, 
 extracted from Taussig's " History of the United States Tariff," 
 shows that during the last ten years the British consumer has 
 had the benefit of the Free Tariff in a price of copper varying 
 from one-third to one-seventh less than the price charged to 
 the consumers of the United States by their privileged manu- 
 facturers. 
 
 Production of Copper in the United States, and Foreign and 
 
 Domestic Price. 
 
 (Quantities In gross tons.) 
 
 
 Domestic 
 
 Price per 11 
 
 . in Cents. 
 
 Difference in 
 
 Year. 
 
 
 
 Production. 
 
 New York 
 
 London 
 
 Price. 
 
 
 
 Lake Copper. 
 
 Chili Bars. 
 
 
 187s 
 
 18,000 
 
 23-0 
 
 i8-o 
 
 5'o 
 
 1876 
 
 19,000 
 
 21-5 
 
 16-5 
 
 5-0 
 
 1877 
 
 21,000 
 
 19 
 
 14-6 
 
 4'4 
 
 1878 
 
 21,500 
 
 16-5 
 
 i3'S 
 
 30 
 
 1879 
 
 23,000 
 
 17-5 
 
 12-2 
 
 5-3 
 
 1880 
 
 27,000 
 
 20 "O 
 
 13-5 
 
 0-5 
 
 1881 
 
 32,000 
 
 i8-5 
 
 13-3 
 
 5-2 
 
 1882 
 
 41,000 
 
 187 
 
 14-4 
 
 4 '3 
 
 1883 
 
 52,000 
 
 i6-i 
 
 137 
 
 2-4 
 
 1884 
 
 6 mos. 
 
 i4'5 
 
 12'I 
 
 2-4
 
 176 
 
 PreE trade v. fair trace. 
 
 Special il Considering the great advantages the United States possess 
 
 lustrations, jii their copper mines, this is a very striking instance of the way 
 
 in which freedom operates to produce a healthy trade to the 
 
 producer and low price to the consumer, whilst protection 
 
 has an opposite effect. 
 
 Biscuits. 
 
 Biscuit?. In the following chapter I have dealt at length with the 
 
 subject of sugar. But two recent incidents may here be men- 
 tioned. France, as is well known, has recently imposed duties 
 on corn and flour. In the course of the discussions on the 
 measure, the manufacturers of biscuits and semolina com- 
 plained that they would be injured by the tax on their raw 
 material. French made semolina and biscuits were therefore 
 protected by a considerable duty. French consumers will 
 have to eat dear biscuits, and French biscuit makers will be 
 unable to export. 
 
 Again, in the recent discussions on the Belgian sugar duties, 
 the Belgian makers of jam, confectionery and biscuits sought 
 for a drawback of the taxes which the Government were 
 imposing on sugar, but were refused. England admits flour 
 and sugar free. Her manufacture of jams and preserves is 
 becoming an important trade, and she is supplying the world 
 with biscuits. 
 
 Wire. 
 
 \\\^Q_ Again, there have been loud complaints amongst our wire 
 
 makers of the successful competition of foreign wire, and it 
 has been said to be due to the excessive charges of English 
 railways on the article when used at home. Thinking there 
 must be some other reason, I api)lied to one of the tele- 
 graph construction companies, and learned from them that 
 they bought German wire because it was better and cheaper ; 
 but that German competition had stimulated our own manu- 
 factures ; that English made telegraph wire was much im- 
 proved ; and that they now give large orders to English 
 makers. There is now a considerable export of telegraph 
 wire. Telegraph construction is an important new branch of 
 English manufacture ; and if we had protected English made 
 wire by a customs duty on foreign wire, we should probably 
 have driven this manufacture to Germany.
 
 PART It. — RKTALIATION, 177 
 
 CHAPTER XXXVI. 
 
 SUGAR. 
 
 Sugar claims a chapter to itself. From the time when the Import- 
 word, thrice uttered by the imperious voice of the first Pitt, ^"'^^ °*^ 
 cowed a tittering House of Commons into silence, it has occu- politically 
 pied a prominent place in politics. It has been an imj)ortant and econo- 
 factor in the development of our Colonial Empire, in the "^"^^^'y- 
 struggles for the abolition of slavery, and in the controversies 
 which have established and crowned Free Trade. Even at this 
 moment, it attracts much attention from financiers and econo- 
 mists. The accident of bounties on foreign sugar, themselves an 
 undoubted outrage on economic laws, give to the Protectionists 
 an opportunity of masquerading as Free Traders in assailing 
 bounties, and under this guise they seek, whilst advocating re- 
 taliation, to betray an outpost of Free Trade where they dare 
 not attack the citadel. We are told that our present free admission 
 of beet sugar is ruining the future of our own market ; that it 
 is destroying cane sugar ; that it is alienating our colonies ; 
 committees of the House of Commons advise retaliation ; 
 statesmen seek for inquiry ; and agitators tell English workmen 
 that they are deprived by foreign countries of 15 millions 
 a year in work and wages. These suggestions and statements 
 are for the most part not only not true ; they are the reverse of 
 the truth. But it is worth while to examine the whole subject 
 as carefully as my limits will allow, for the purpose of seeing, 
 not only what modicum of truth there is in some of them, 
 but what light the case throws on the economical laws we 
 have been discussing. 
 
 Independently of the great political and social questions Enormous 
 with which sugar has been connected, it possesses an econo- ^^'^ '"" 
 mical and social importance of its own which it is difficult suppiv.^ 
 to exaggerate. The total production and consumption of 
 the world is enormous ; though exact figures cannot be 
 given. There are some countries in which the quantity is 
 not precisely known, but is known to be very large. India, 
 for instance, which exports little, has been estimated to pro- 
 U
 
 178 
 
 FUKF, TRADK V. FAIR TRADK. 
 
 The supply 
 is both of 
 cane and 
 beet sugar 
 
 duce and consume 2,000,000 tons or upwards. But omitting 
 these countries, and taking those only whose production is 
 accurately known, the ])resent annual production of the world 
 is estimated at more than 4,000,000 tons, which at ;!^2o a ton 
 would be worth ;^8o,ooo,ooo. It also increases very largely. 
 In 1855 the production of these same countries was less than 
 1,500,000 tons.* Further, the increase has taken place in cane 
 3ugar as well as in beet sugar. Thus the known total of cane 
 sugar has increased from about 1,200,000 tons in 1853-1856 to 
 upwards of 2,000,000 tons in 1882, whilst that of beet sugar 
 increased in the same time from 200,000 tons to 1,780,000 
 tons. 
 
 This crop is raised in every quarter of the world, in every 
 climate, and almost every country grows an increasing quan- 
 tity. France, Germany, Austria, Hungary, Hol'md, Belgium, 
 and Russia, Egypt, India, China, the Dutch and Spanish East 
 Indies, Australia, Mauritius, the United States, the West Indies, 
 and South America, all contribute to the enormous total. 
 Between cane and beet there are few climates or soils which do 
 not and cannot produce sugar. If ever there was an article of 
 which the producing market is an open one, a market which 
 cannot be closed or contracted by any ring or combination, it 
 is sugar. 
 
 Of the supplies thus produced (again excluding India, China, 
 and other countries of which the production is not known), 
 England, though producing none herself, consumes the largest 
 proportion. In 1883, the last year for which complete and final 
 statistics are published, after deducting nearly 100,000 tons of 
 re-exported sugar, of which more than half was refined in this 
 country, her whole share was 1,083,000 tons, or about 68 lbs. 
 per head of the population. This at ^^30 a ton, which, after 
 taking into account expenses of manufacture and distribution, 
 is probably not too high a figure, represents an annual expendi- 
 ture of ;^3o,ooo,ooo, or about half the sum which the people 
 of the United Kingdom pay for wheat,! when wheat is at or 
 under 403. a quarter. At the same time the price has much 
 diminished. In 1841 the average consumption per head of the 
 population wasi6'99lbs., at an average price per cwt. of 63s.5|d., 
 the wholesale value of the i6-99 lbs. per head; being therefore 
 
 * See Produce Markets Review, 28th June, \l 
 of 1884. 
 
 t I'arl. Paper 325, 1SS4, p. 9, 
 
 and Pari. Paper, No. 325,
 
 PART II. RETALIATION. 1 79 
 
 9s. 7|d.* In 1883 the estimated consumption per head was Sugar 
 68" I lbs., at an average cost per head of 12s. lod., or nearly 
 four times the quantity to each person at only one-third more 
 cost. In 1884 the quantities were about the same, but the 
 price was about one-fifth less, making the cost per head in 
 1884 about I OS. 4d., against 9s. y^d. for one-fourth of the 
 quantity consumed in 1841. 
 
 It is worth while to observe in passing, that this result has 
 been attained in a period in the course of Svhich slavery has 
 been abolished. This enormous increase in production and 
 reduction of price is a consequent on the employment of 
 labour which is free, and which, measured by the rate of 
 wages, is comparatively costly. 
 
 Other countries have, of course, benefited, but far less than share of 
 England. The United States is the next largest consumer, the United 
 Her total consumption is 1,076,000 tons, or 50 lbs. per head of p^^'^^g^ 
 the population, and the price her people pay for it is estimated and 
 at 80 per cent, of the price they pay for their wheat, out of Germany, 
 which price more than one-fourth is paid in the form of a pro- 
 tective duty, thus raising the price to the consumer by more 
 than a third over that paid in England. During the last year, 
 an Englishman has been paying about 2d., or 4 cents for a 
 pound of good sugar, whilst, as we are told, a citizen of the 
 United States has been paying 7 cents, or 3^d. France is esti- 
 mated to consume 28 lbs. per head, and Germany 15 lbs. per 
 head of her population,! both of these being countries which 
 produce good beet sugar at the cheapest possible rates, but 
 which, by their fiscal systems, prevent their own people from 
 using it freely. What the exact prices to the retail purchaser in 
 each country may be it is very difficult to tell, for there are 
 sugars and sugars, and prices as well as qualities vary infinitely, 
 according to circumstances. But it is quite certain that in each 
 country the price to the consumer is raised by the whole amount 
 of the duty, and probably by more. An investigation into the 
 quality and price of the sugar retailed in Germany appears to 
 show that where the English people pay 2d., 2l,d., and 3d. a 
 lb. for good sugar, the Germans pay nearly twice those sums 
 for sugars of an inferior quality. The German housekeeper 
 who wishes to sweeten her tea or to cook the sweet dishes in 
 which Germans excel, has to pay at least twice as much for an 
 
 * Porter's Progress of the Nation. 
 
 t Bradst reel's, 28th March, 1885. Pari. Paper 325, 1884. p. 41. 
 M 2
 
 l8o FREE TRADE V. FAIR TRADE. 
 
 inferior article as her English sister.* Germany is the country 
 which shows the greatest skill in the production of sugar, which 
 has advanced its manufacture to the highest point, adds com- 
 forts and luxuries to the life of the English workman, but does 
 not allow its own poor and industrious people to enjoy the 
 fruits of their own industry. "Sic vos non vobis mellificatis 
 apes ! " How this comes to pass we shall see presently. 
 
 Considering that sugar has become an article of food, or 
 of luxury, if you will, in which the poor share, not unequally, 
 with the rich; which makes other food palatable and wholesome ; 
 and which women and children enjoy no less than men, the 
 advantage of such a result as I have described to the toiling 
 millions of the United Kingdom is no small matter. But 
 this result is not all. The enormously increased supply of 
 sugar has brought to them also increased employment and 
 wages. 
 
 The actual trade in the increase of quantity consumed has 
 itself added large and ])rofitable employment to our ships, to 
 our railways, to our merchants and their clerks, to our refiners, 
 and to our shopkeepers. The amount thus expended on 
 English labour in 1883 on the increased quantity of sugar used 
 in that year, over and above the amount expended on similar 
 labour in 1863, has been estimated by the authority mentioned 
 below at ;jr5, 500,000.! 
 
 Nor is this all. The whole of the sugar imported does not 
 go into direct consumption, but becomes the raw material of 
 various manufactures. There is, of course, the refining, an 
 increasing trade, of which I shall say more below. But besides 
 refining, there are a number of subsidiary manufactures depend- 
 ing on sugar, which are largely on the increase, and which are 
 more important than refining. Of these the largest is probably 
 the manufacture of jams and confectionery, which is dependent 
 on a cheap supply of refined sugar, and for which certain 
 descriptions o( foreign refined sugar are specially suitable. We 
 know that in London about 45,000 tons are used in the jam and 
 confectionery business, employing from 5,000 to 6,000 persons; 
 and the returns of this manufacture in Scotland show not much 
 less. More than 100,000 tons are employed in the United 
 Kingdom in this business alone, and more than 12,000 hands, 
 
 * Produce Markets Review, p. 376, 28th June, 1884. 
 t For details see Produce Markets Review, 15th March,
 
 PART II. — RETALIATION. l8l 
 
 which is more than twice the number of hands employed in Sugar, 
 sugar refining. This, it is to be remembered, is a manufacture 
 which supphes a cheap and wholesome luxury to the poor, and 
 which calls into existence other industries, such as fruit growing, 
 which are themselves of great importance to the country. 
 Other industries, such as the making of biscuits, with which we 
 supply the world, and of mineral waters, brewing, and cattle 
 feeding, also depend largely on sugar. Cheap and good 
 sugar is a very important raw material.* 
 
 The importance to the nation of our cheaj) and plentiful These re- 
 supply of sugar it is therefore difficult to exaggerate. How have tained by 
 we managed to obtain it ? The answer is very simple, viz., by free im- 
 opening our ports and receiving freely what our neighbours have portation. 
 offered us. But as our Protectionist friends wish us to reverse 
 this policy, it is worth while to consider the point a little more 
 carefully. 
 
 Sugar, considered as an article of general consumption. Taxation 
 and, also, though the word is misleading, as an article of °" ^"g^""- 
 luxury, has been a favourite object of taxation ; the more so, 
 perhaps, because originally it was an article produced in foreign 
 and distant countries. But even then much of it was refined 
 in Europe, and this raised a difficulty. It has always been the 
 practice where any article has paid duty, and has undergone a 
 process' of manufacture, to give back the duty on its being 
 re-exported, under the name of " drawback." When the ^^^ex'.^'^'^ 
 article exported can be recognised as the same article which portation, 
 has paid duty, this is a simple thing to do. But when the 
 article has undergone a change since it paid duty, a calculation 
 is necessary in order that the amount actually paid, no more 
 and no less, may be restored as drawback. Thus an import 
 duty was paid on raw sugar ; it was refined in the country of 
 import ; and some of the refined sugar was re-exported. It 
 became then a problem for the Governments of Europe to 
 discover what was the relation of a given quantity of refined 
 sugar to the raw sugar from which it was made, so as to deter- 
 mine what was the amount of duty to be repaid. This i^roved ^{ euto- 
 to be a very difficult problem, and the difficulty was much pean 
 increased when European nations began to make sugar from Go^em- 
 beet, and when the problem was to determine not only the 
 relation of raw sugar to refined sugar, but the relation of sugar, 
 
 * Ste Produce Markets Rei'iew, 26th July, 1884. Pari. Paper 325, 1884, 
 p. 12, and Appendix thereto.
 
 i8: 
 
 FREE TRADE 7<. FAIR TRADE. 
 
 Sugar. 
 
 raw or refined, to tlie original material of which it was made. 
 The Governments were in a dilemma. If they gave as draw- 
 back on the manufactured article less than had been paid on 
 the raw material, they were burdening their manufacturers with 
 a tax which discouraged exportation. If they gave more, they 
 were giving a bounty on exportation, and were thus artificially 
 raising the price to their own citizens, and lowering it to 
 foreigners, by means of money drawn from the pockets of their 
 own taxpayers. Beset by these embarrassments, the Govern- 
 ments of Europe, our own among the rest, floundered on for 
 years. By conference after conference, by measure after 
 measure, they endeavoured to hit the right mean ; and gene- 
 rally speaking, the special trade, as is usual in such cases, got 
 the better of the public, and secured to itself some bounty in 
 the way of drawback. This was the state of things in 1863, 
 and in this country a graduated scale of duties and drawbacks 
 was established and sanctioned by International Convention in 
 1864. At last, after the duties had been twice halved by suc- 
 cessive Governments, they were wholly abolished in 1874. The 
 England of results are as follow : — The consumption of the country was 
 sugardu- 473,000 tons in 1863; it was 1,083,000 tons in 1883. The 
 ^'^^* exports had doubled also. The average cost of sugar to the 
 
 grocers was 41s. per cwt. in 1863; it was 23s. 3d. in 1883. 
 This reduction consisted of the duty, which was 12s. 6d., and 
 in addition of 5s. i|d., or more than id. a lb. saved by in- 
 creased demand and improved supply.* According to the 
 official statistics, we paid for sugar imported, including duty, 
 1 81 millions in 1863, whilst in 1883 we paid about 25 millions, 
 and in 1884 we paid about 20 millions for twice the quantity, 
 Sir Stafford Northcote removed a very troublesome tax, which 
 brought into the revenue less than 6i millions in 1863, and 
 only about 3^- millions in 1873, and in so doing he has saved 
 the country from 12 to 17 millions in the price of sugar, as 
 imported, and much more on sugar as retailed ; and he has 
 vastly increased and improved the food of the people, besides 
 encouraging many native industries. 
 
 Other nations have not been wise or rich enough to follow 
 the same course. They all levy a considerable duty on sugar ; 
 most of them make these duties differential in favour of their 
 own manufacturers or colonists ; and many of them have so 
 
 Reduction 
 and final 
 repeal in 
 
 Results. 
 
 From the Produce Markets Revini.', 15th of March ij
 
 I'ART II. — KKTALIAIIOX. I S3 
 
 arranged their drawbacks as to give their own manufacturers or Sugar, 
 refiners a bounty on exported sugar. To give the history or 
 details of these duties, "surtaxes," and bounties, or drawbacks, 
 in detail, would be impossible, and they may be found in the 
 various Parliamentary Papers.* But the following few facts 
 arc worth notice. 
 
 Germany imposes a tax of 1 2 marks per centner (about a cwt.) German 
 on raw sugar imported, f She also imposes a tax on the beet ^^^^^"^jj 
 used in manufactures, estimated to be equal to ten marks per 
 centner on the manufactured raw sugar • and a drawback, for- 
 merly of 9 '40 marks, but now of 9 marks, is repaid on each 
 centner of exported raw sugar. But by improvements in the 
 growth of beet, and in the process of manufacture, much more 
 sugar is produced from the given quantity of beet than the 
 quantity it was estimated to produce, and the manufacturer, 
 consequently, on exporting sugar, receives upon the excess a 
 drawback or bounty which he has never paid as duty on the 
 beet. What the amount of this bounty may be it is impossible 
 to say with accuracy, for it varies with the skill and success of 
 the grower and manufacturer. The average bounty has been 
 variously estimated — from one shilling, or less, per cwt., to two 
 or three times that amount ; but the recent German Committee 
 estimated the maximum at i'4o marks per centner, or about 
 Ts. 5d. per cwt. Under this system the German production has 
 increased five-fold since 1871, and was, in 1883, 835,164,600 
 kilos. Of this, three-fifths w\as exported and two-fifths only 
 consumed in the country. Of the total exports, amounting to 
 472,551,400 kilos., between three-fifths and four-fifths were 
 exported to Great Britain. The Government have, in paying 
 this bounty, lost what is estimated to amount to upwards of a 
 million sterling of revenue which they would have recei\-ed if 
 the drawback had been equivalent, and not more than cqui\'a- 
 lent, to the duty. The German Government, alive to the loss, 
 appointed last year a Committee of Experts to inquire into 
 the subject, who found that the drawback was too large, and 
 recommended a reduction ; and a Bill was introduced for this 
 purpose, but has not been pressed owing to the prevalent dis- 
 tress among German beet growers and sugar manufacturers. 
 The effect of this system is very curious. That the Germans, 
 
 ■ See especially 317 and 422 of 1881, 325 of 1884, and 39 of 1885. 
 [ t I^arl. Paper 39, Decemher, 1884, p. 37, Report by Mr. Scott, Secretary 
 to the German Embassy, on German Bounties.
 
 1 84 
 
 FREE TRADE V. FAIR TRADE. 
 
 Sugar. 
 German 
 tax and 
 drawback. 
 
 Austro- 
 Hungary. 
 
 Frar.cc. 
 
 as taxpayers, lose, is clear ; the Germans, as sugar consumers, 
 do not gain, for the wholesale German j^rice is regulated by the 
 English market, and is exactly what the Englishman pays, with 
 the whole drawback added. ^Vhere the English wholesale pur- 
 chaser pays 12 marks per cvvt. the German pays 21, an addition 
 which is probably doubled before the sugar reaches the actual 
 consumer ; and we have already seen how comparatively dear 
 and poor is his supply. But mark the further result : the Ger- 
 man beet grower and sugar manufacturer, who probably gained 
 much at first, is now at least as much distressed as our own 
 refiners. Mr. Scott tells us that present prices admit of no 
 profit ; and that many manufacturers are working at a loss 
 in hopes of a rise. The critical position of many of the 
 German factories is notorious ; but the best evidence of the 
 distress is that the frugal German Government, though really 
 anxious to abolish bounties, dare not at this moment proceed 
 with the measure which their experts have recommended. In 
 fact there has been a glut in the sugar trade, much aggravated 
 by the foolish system of bounties, and whilst English con- 
 sumers have benefited by the low price, none have, in the end, 
 suffered more than the class of manufacturers whom it seemed 
 prima fade to benefit. 
 
 It should be added that the German exports of refined 
 sugar have not increased in the same proportion as those of 
 raw sugar. In 1882 they were 17 "6 per cent, of her total 
 exports of sugar, and in 1883 only 157 percent. Her refiners, 
 Mr. Scott's report tells us, cannot compete successfully with 
 our own.* 
 
 Austro-Hungary levies her duties on an estimate of the 
 quantity of sugar contained in the vessels used in manufacture. 
 A few years since, this estimate was so much too large as to 
 give a large bounty on exportation, and Austria led the way in 
 the race of ruin. She has since revised her estimate, and has 
 fallen far behind Germany in exports. But not the less have 
 her manufactures felt the recent glut and the reaction from the 
 unnatural stimulus ; and bankruptcies and failures among Aus- 
 trian sugar makers have been notorious during the past year. 
 
 France revised her system some years since, with the view 
 of putting an end to bounties, and, though her production has 
 increased rapidly, her exports have diminished. Frightened by 
 
 Pari. Paper 39 of 1885, pp. .13 and 44.
 
 PART 11. — RETALIATION. I 85 
 
 the progress of Germany, and by the distress of her beet Sugar 
 growers and sugar makers, France last year revised her 
 sugar taxation. She raised her duty on home-grown sugar ; 
 she increased the differential duties on foreign sugars ; she 
 adopted the system of taxing beet as the raw material ; and 
 purposely gave a heavy drawback on export. It is too 
 early to say what the actual result is, but it may be confidently 
 predicted that her measures will, if they have the effect con- 
 templated, throw an additional burden on her exhausted 
 exchequer, and raise the price of sugar to her own consumers 
 and manufacturers. 
 
 Belgium, which has largely increased her exportation in late Belgium, 
 years, has been also perplexed by the distress of her sugar 
 interest, and, after an inquiry into her mode of taxation, has 
 proposed a new law. She disapproves of bounties, and will not 
 extend them ; nor will she substitute for her present system of 
 taxing the juice expressed from beet the German plan of taxing 
 the root itself. But she is imposing an increased differential 
 duty on foreign sugar. It deserves notice that the Belgian 
 makers of jams, confectionery, and biscuits, whose English 
 rivals have, as we have seen, profited so largely by the cheap 
 sugar of England, have petitioned their Government, but in vain, 
 for a drawback on exportation of the taxed sugar they use in 
 their manufacture. 
 
 Holland, which taxes her sugar by a process of sac- Holland, 
 charimetry, or chemical measurement of the quantity of' sugar 
 contained in the juice, has recently revised her method. She 
 is said to give a considerable bounty, and has largely increased 
 her exports. 
 
 Nor are European countries alone in giving artificial protec- United 
 tion to sugar. The United States levy a protective duty of States, 
 from I2S. lod. to 14s. per cwt. on foreign sugars. Brazil '^^"' 
 guarantees a high rate of interest on the capital employed in 
 sugar making, with the result that at present prices ruin is 
 impending over her sugar fiictories.* 
 
 The legislature of one of our most flourishing colonies — New 
 New Zealand — has recently passed an Act granting a jn-ofessed Zealand, 
 bounty of one halfpenny per pound on the first thousand tons 
 of beetroot or sorghum sugar produced in the colony, besides 
 providing that no excise duty on sugar shall be levied so long 
 
 * Tad Paper 39, 1884, p. 29.
 
 t86 
 
 FREE TRADE V. FAIR TRADE. 
 
 Sugar. 
 
 General 
 action of 
 Foreign 
 Govern- 
 ments. 
 
 Imports of 
 sugar from, 
 and exports 
 of manufac- 
 tures to 
 Germany, 
 Holland 
 and 
 Belgium. 
 
 as the existing import duty of one halfpenny per i)Ound con- 
 tinues in force ; and that if that duty be at any time increased, 
 the excise duty leviable shall always be one halfpenny per 
 pound less. Further, should the import duty be reduced, a 
 sum per pound produced equal to the amount of the reduction 
 is to be paid to home producers who may be tempted, by this 
 Act, to embark in the industry. 
 
 For further details upon the action of Foreign Governments 
 in the matter of sugar, I must refer to the Parliamentary Papers, 
 325, 1884, and 39, 18S5. One or two points are clear from 
 what I have stated. Foreign governments are all floundering in 
 the difificulties from which we, by abandoning all taxation of 
 sugar, have hapi)ily emerged. Most of them have imposed 
 intentionally protective duties on foreign sugars; many give 
 bounties on export; which, however, except in the case of 
 France, are unintentional. All of them raise the price of 
 sugar to their own consumers ; and those which give bounties 
 cheapen it to foreigners. Above all, in all these countries, how- 
 ever much manufacture and export may have increased, there 
 is great distress among the protected classes. Protection and 
 bounties have produced their usual results, viz., an unnatural 
 stimulus, and large immediate profits, followed by a glut, 
 collapse, and ruin. 
 
 One other point deserves notice. If there are any countries 
 of whose bounty-fed competition our sugar refiners and West 
 Indian interests have complained, they are Germany, Holland, 
 and Belgium. It is these countries, if any, which have dis- 
 placed the labour of the English workman. We have already 
 seen, in the account above given of the trades set in action by 
 our increased sugar supply, how absurd this assertion is. But 
 there is another answer, and, if not a mere coincidence, it is a 
 curious illustration of the Free Trade maxim, " Take care of 
 the imports, and the exports will take care of themselves." Our 
 imports of sugar from Germany, Holland, and Belgium have 
 been as follows : — Vaiue. 
 
 1880 ^7,264,000 
 
 1881 8,369,000 
 
 1882 7,295,000 
 
 1883 10,412,000 
 
 Showing an increase of about three millions. Our total exports 
 of British and Irish produce to these countries have been as 
 follows : —
 
 PART II. — RETALIATION. 1 87 
 
 Value. Sugar 
 
 1880 /■31, 986,000 
 
 1881 33,4o6,coD 
 
 1882 35,978,000 
 
 1S83 .. .. .. .. .. .. 36,622,000 
 
 Showing an increase of about four millions and a half. Thus 
 the increased import of sugar has been more than balanced by 
 a proportionate export of our own manufactures, which must 
 have given employment to an increased number of our own 
 workmen employed on those manufactures. 
 
 So far as we have gone, there is certainly nothing in the Importuni- 
 present state of the sugar trade which should make us desire to reli^nerT!fnd 
 imitate the systems of other nations. We arc nevertheless West 
 asked to do so by two very importunate interests, viz., the Indian 
 sugar refiners of this country, and the English owners of West ^^" ^^^' 
 India sugar estates. Their cases are inconsistent, for it is the 
 interest of the refiners to have cheap raw sugar, and it is the 
 interest of the West India planters that raw sugar should 
 be dear. But they unite in urging retaliation against foreign 
 sugar bounties. Let us see first what their wrongs are, and 
 then what are their proposed remedies. 
 
 First, as to the refiners. It is alleged that the foreign Refiner's 
 bounties are destroying this important trade ; and agitators '^''*^^- 
 circulate the preposterous assertion that the British workman 
 is thus deprived of 15 millions annually in wages. Now what 
 are the facts. It was shown in 1881* that since 1S64 the 
 refining trade of this country had lost about 50,000 tons of loaf 
 sugar ; but had gained 30,000 tons of other sorts of hard sugar, 
 and 300,000 of moist sugar.t The quantity of sugar refined at 
 home has increased since 1880 from 653,000 tons to 816,000 
 tons ; and the number of men employed in it has also increased 
 considerably. The importation of foreign refined sugar did not 
 increase between 1877 and 1883, being 171,000 tons in 1877, 
 152,000 tons in 1880, and 162,000 tons in 1883 ; in 1884 it 
 was 210,000 tons. The exports of refined sugar from the 
 United Kingdom have increased, being 56,000 tons in 1877, 
 48,000 tons in 1880, 58,000 in 1883, and 65,000 tons in 1S84. 
 These are not figures of a declining trade. But it is at the 
 best a comparatively small trade, and the capital employed in 
 it does not probably attain ^^3, 000,000. It is, whether as 
 regards capital or workmen employed, a trade of far less 
 
 * Pari. Paper 317 and 422, of 1881. f ^''^rl. Paper 325, of i88^.
 
 1 88 FREE TRADE 7'. FAIR TRADE, 
 
 Sugar. importance than the subsidiary trades mentioned above which 
 cheap refined sugar has called into existence, and for some of 
 which foreign refined sugar has special advantages. In addi- 
 tion, there are, as we have seen, larger exports of other British 
 produce called into existence in order to pay for the imported 
 sugar. Looking to the interest of the workman considered as 
 a producer only, and putting aside his still more important 
 interest as a consumer of sugar, it would be simple madness 
 to exclude foreign refined sugar in the supposed interest of 
 British refiners. 
 Case of The case of the West India sugar planters is one deserving 
 
 ^^?' of more sympathy. They have no doubt been deprived, by 
 
 planters, the competition of beet sugar, of the proportion of the market 
 of the United Kingdom which without such competition they 
 might have expected to enjoy, and some part of this competi- 
 tion is no doubt due to foreign bounties. But their statements 
 are grossly exaggerated. It is alleged, for instance, that the 
 increase of beet sugar is entirely due to the bounty system. 
 This is contrary to the evidence which has been taken abroad, 
 and which shows that the growth of beet is largely due to 
 agricultural improvement in France and Germany, as well as to 
 energy and skill in manufacture, and that it is intimately con- 
 nected with improvements in the growth and feeding of cattle. 
 It is, moreover, inconsistent with existing facts, as shown by 
 the official statistics. Only a part of the beet sugar produced 
 is bounty-fed. In some countries, e.g., in France there has in 
 late years been no bounty, and yet the production increases 
 rapidly. It is only on the sugar exported that a bounty can 
 possibly be paid, and this is only 700,000 tons out of a total 
 of beet sugar production of about 2,000,000 tons. 
 
 Another allegation is that bounty-fed sugar will, when it has 
 driven all other sugar out of the market, become a virtual 
 monopoly, that it will then rise in price, and that consumers 
 will accordingly then suffer all the inconveniences of a restricted 
 market. The allegation scarcely needs refutation. Much of 
 the supply of beet sugar, as shown above, is not bounty-fed ; 
 and cane sugar, as shown below, is not being driven out of the 
 market. Moreover, with such diversified area of production as 
 I have shown to exist, there is probably no article in the world, 
 not even wheat, in which it would be equally impossible to 
 create any kind of monopoly or to raise prices unduly. 
 
 Another allegation is that cane sugar is being supplanted by
 
 PART II. — RETALIATION. 189 
 
 beet — an allegation which is utterly untrue. British cane sugar Sugar, 
 has increased from 261,000 tons per annum in 1853-5, ^o t^in?"sup- 
 419,000 tons per annum in 1880-2 and in the same tmie planted by 
 foreign cane sugar has increased from 972,000 to 1,500,000^^*^''' 
 tons, though beet sugar has increased in a much larger propor- 
 tion. British cane sugar has ever since 1868 maintained its 
 proportion of the total supply of sugar — viz., 12 per cent. 
 Comparing 1877-9 '^^i^h 1880-2, the increase of West Indian 
 sugar has been from 210,000 to 230,000 tons annually. The 
 proportion of cane sugar imported into the United Kingdom 
 has largely declined, and the actual amount of British cane 
 sugar so imported has somewhat decreased ; but the increased 
 supply of that sugar has been diverted to North American and 
 Australian markets. 
 
 Nor is there any reason to despair of the future of cane 
 sugar. Skill and industry have done their utmost in growth 
 and manufacture of beet, whilst much remains to be done to 
 extract completely the much larger quantity of sugar contained 
 in the cane. This, at least, is the opinion of many experienced 
 persons, and among them of Mr. Baden Powell, and of Mr. 
 Newton, President of the Chamber of Agriculture in the 
 Mauritius, a colony second only to the ^Vest Indies in the 
 production of cane sugar. In a remarkable paper, which has 
 just been laid before Parliament, he exhorts his countrymen, 
 who, in common with other sugar producers, are suffering from 
 present low prices, to abandon all hope of Protective remedies, 
 and to trust cheerfully to improved production.* 
 
 The case and prospects of the West India planters are 
 therefore not so bad as has been stated ; not worse, probably, 
 at the present moment, than those of protected sugar producers 
 in Foreign countries. There has been a general glut, and they, 
 in common with others, have suffered. If they can retain their 
 share of the North American market ; and if, above all, as 
 much skill and energy can be put into their manufacture as is 
 put into the manufacture of beet sugar by France and Germany, 
 there is no reason why they should not have a prosperous 
 future. At the moment when I write the price of sugar is 
 rising.! 
 
 But the case of the ^^'e.st Indian planters is open to one or 
 two further observations. 
 
 * Pari. Paper c. 4455 of 1885. f See T/mes of ^Sth May, 1885.
 
 190 
 
 FREE TRADE V. FAIR TRADE. 
 
 Sugar. 
 Planters in- 
 terest and 
 Colonial in- 
 terest not 
 identical. 
 West India 
 sugar a 
 com- 
 paratively 
 small in- 
 terest 
 
 Tliey have 
 no case for 
 change of 
 our fiscal 
 svstem. 
 
 Remedies 
 suggested 
 by them. 
 
 What are 
 bounties ? 
 
 It would be a mistake, at any rate as regards Jamaica, to 
 treat the sugar interest as identical with that of the whole 
 people. The interest is rather that of Enghsh capital. The 
 black population have other employments and other interests. 
 
 In the second place, the \Vest India sugar interest is a 
 small interest compared with that of the consuming classes in 
 England. The annual value of the whole of the sugar pro- 
 duced in the West Indies is probably under ;^5, 000,000, as 
 compared with ^{^2 5,000,000 which was the declared value 
 of the sugar imported into the United Kingdom in 1883. 
 According to the representations of the West India sugar 
 interest (which are no doubt exaggerations), the reduction in 
 price of the sugar consumed in the United Kingdom due to 
 foreign bounties is over ;^5, 000,000. So that for the purpose 
 of a small increase in their revenue, they ask us to sacrifice 
 a sum which is more than equal to the whole of their pro- 
 duction. 
 
 Under these circumstances, whilst admitting that the West 
 India sugar interests are suffering from the fiscal systems of 
 other countries, though to a much less extent than has been 
 supposed, they have no case for any remedy which would 
 injuriously affect the much larger interests of consumers in the 
 United Kingdom. 
 
 It remains to consider very shortly the remedies suggested 
 by the refiners and the West India interests. These consist 
 in retaliation by means of duties to be imposed on bounty-fed 
 sugars. It might be sufficient to refer to what has been said 
 above as to retaliatory duties in general. All the arguments 
 against retaliation in the case of protective duties apply to 
 retaliation against bounties. Protective duties are even more 
 injurious to the interests of this country than bounties, since 
 they operate no less than bounties to the disadvantage of our 
 producers ; whilst, unhke bounties, they confer no benefit on 
 our consumers. Both alike limit our means of selling ; but 
 foreign bounties give us the means of buying cheap, which 
 foreign duties do not. 
 
 But there are some special considerations affecting retalia- 
 tion against bounties, and against these bounties in particular. 
 
 If we begin by retaliating against bounties, we must ask 
 what is meant by the term. Canada and all new countries 
 make grants of land to emigrants. Is this a bounty on corn 
 growing ? The Indian Government subsidize raihvays. Is this
 
 f'.\Rr II. — KKI'AI.IATION. igi 
 
 as some of our agriculturists arc now alleging, a bounty on Sugar. 
 Indian wheat? Brazil guarantees interest on capital invested 
 in sugar factories, and New Zealand gives them special en- 
 couragement. Are all these bounties, and are they to be 
 assailed by retaliatory duties ? If so, what are the retaliatory 
 duties to be, and where are they to stop ? 
 
 In the ne.xt place, what is the exact amount of the duty to What are 
 be ? It is intended to neutralize the bounty, neither more nor \^^ retaha- 
 
 , rr ■ 1 -IT. • -,-1 -1 tory duties 
 
 less. If It does more, it is plain Protection ; if less, it does not to be? 
 answer its purpose. But no one has the least conception what 
 the bounty in any case is. It differs in every country; on 
 every parcel of sugar. No two opinions agree about it in any 
 one case. To determine the amount of such a duty baffles all 
 the experts. It is an impossible task. 
 
 Again ; any such countervailing duty would be contrary Most 
 to the most important clause in our commercial treaties, viz., iia\?on 
 that by which we give and receive " most fa\oured nation treat- clause, 
 ment." 
 
 Again ; it is very imi)robable that retaliatory duties would Bad effect 
 produce the desired effect on Foreitrn Governments. Most of °.^ retalia- 
 
 • tion 
 
 them, for financial reasons, now dislike bounties, and know abroad, 
 that they are taxing their subjects to give us cheap sugar. If 
 we retaliate, it will show that we think the bounties beneficial 
 to the country which proposes them, and injurious to ourselves, 
 and this will lend strength to the interests which desire to 
 retain them. 
 
 Lastly, the effect of any countervailing duty would be to raise Effect of 
 the price of a necessary article to all the people of the United ^^}'^ °^ 
 Kingdom, and it would raise it by much more than the amount 
 of the duty. Assuming the duty to be 2s. 6d. per cwt., which 
 is apparently not much more than half what the West Indian 
 Committee thinks necessary, the amount of the ta.x, with a 
 consumption of over a million of tons, would represent an 
 additional tax of two and a half millions, and the actual burden 
 of the tax would probably not be far short of five millions, or 
 the equivalent of an income tax of from 2d. to 3d. in the 
 pound, which would be paid chiefly by the working classes. 
 
 The case against reversing our Financial policy by retalia- Conclusion 
 tion of any kind, in the case of any article whatever, seems to ^^^o^'^gar. 
 me to be overwhelming. But that any impartial person 
 should be found willing to reverse it in the case of sugar would 
 be simply astounding.
 
 192 
 
 FREE TRADE V. FAIR TRADE. 
 
 Sugar. I have dwelt thus at length on this subject of sugar, in the 
 
 first place because of the great and growing importance of the 
 article ; in the second place because it illustrates the operation 
 of bounties as well as of Protective duties ; and lastly, because 
 the financial history of sugar in this and in other countries 
 illustrates admirably the value of the principle of Free imports, 
 which is advocated in this book. 
 
 CHAPTER XXXVII. 
 
 CONSEQUENCES OF RETALIATION, IF PRACTICABLE. 
 
 We have seen that retaliation would be an impotent weapon in 
 our hands : that to retaliate on articles of food, or of raw 
 material, is out of the question ; and that to retaliate on manu- 
 factures, as proposed by the Fair Trade League, or on luxuries, 
 as proposed by Lord Salisbury, would have no effect except 
 that of exposing us to a far more dangerous retaliation in 
 return. We have also seen that our position as Free Traders 
 in the midst of Protectionist countries is not such as to call for 
 a change in our policy. But, assuming that all these things 
 were unproved ; supposing that a fundamental change is 
 necessary ; and supposing that a retaliatory policy were possible 
 for us, it is worth while to consider what its consequences 
 would be. 
 
 1. One effect of retaliation would be to deprive English 
 people of the goods they can buy better and cheaper abroad. 
 This, if confined to luxuries, would, perhaps, be the least of the 
 evils caused by it. If the only effect of a high tariff were to 
 limit the sums expended on the hothouse, the shrubbery, the 
 game preserve, the hunting stable, the race-course, or the ball- 
 room, there would be comparatively little objection to it. The 
 national loss would be small, but the eftect, whether for fiscal or 
 economical purposes, would be small also. If retaliatory duties 
 are to have any real effect, they must touch things which a great 
 many people want and use ; and in this case the comfort and con- 
 venience of a large number of people would be seriously affected. 
 
 2. A second effect of retaliation would be to diminish the
 
 PART II. — RI'7rALIA'110N. I 93 
 
 sale and manufacture of English goods. Goods of foreign Sale of 
 make bought for our use at home are ex hypothesi better and English 
 cheaper than similar goods of native manufacture. Goods of ^oii'kf be 
 English make bought for use by foreigners abroad are ex diminished. 
 hypothesi better and cheaper than similar goods of foreign 
 manufacture. If English people are prevented from buying 
 abroad, and foreigners from buying here, there will be less 
 produced, less piolit made, and less to spend in return on both 
 sides. The Frenchman who sells his silk to us makes more 
 profit, and buys directly or indirectly more of our goods in 
 return than the English silk merchant would do if we were to 
 compel English people against their will to use English silk 
 instead of French silk. 
 
 3. We should cripple our own trade by depriving it of Mate-rials 
 materials. Many, if not most, articles are made for further use ^^°"'^ ^^ 
 in manufacture. What is a manufactured article in retrospect dearer. 
 
 is raw material in prospect, as I have shown in the case of 
 sugar, dressed hides, and numerous other articles. 
 
 4. We should also stunt and cripple our manufactures, by We should 
 bestowing the fatal gift of Protection upon them, and depriving '°?^ ^^^ 
 them of the stimulus of foreign competition. At this moment of Com- 
 our leather trade suffers by American competition, because the petition. 
 Americans tan hides cheaper than we do. Our Bradford fabrics 
 
 have been suffering, because our wives and daughters have 
 found French or German woollens pleasanter or prettier than 
 Yorkshire goods. They are now recovering their custom. If 
 we were to exclude American leather, or French woollens, we 
 should exclude the stimulus requisite for improvement in the 
 tanneries and woollen mills of England, and very Hkely stop 
 the improvement in these particular manufactures which is at 
 this very moment in progress. 
 
 5. A further and a most serious evil has not been suffi- Last 
 ciently considered. We are not now arguing with Protectionists, ^^^^ ^^ 
 who wish to keep out foreign goods altogether ; we are arguing interests 
 with people who wish to exclude foreign goods only in order to worse then 
 make foreigners admit English goods. Now what will be the ^^^ ^^^' 
 position of our unhappy protected interests when retaliation has 
 effected its purpose, and when the foreign nation against whom 
 
 it is directed offers us a free tariff on the condition of our 
 repealing our protective duties? We shall have nursed up a 
 miserable interest, feeble for purposes of production, as pro- 
 tected interests always are, but powerful in the lobbies, and 
 N
 
 194 
 
 FREt TRADE V. FAIR TRADE. 
 
 Conse- 
 quences of 
 Retaliation, 
 
 Confusion 
 at the 
 Custom 
 House. 
 
 Expenses 
 of Collec- 
 tion. 
 
 Political 
 degrada- 
 tion. 
 
 clinging with tenacity to its protective duties, which will then 
 be seen to stand in the way of other and more important 
 interests. This unhappy interest will either maintain itself to 
 their detriment, or it will be sacrificed for their benefit, and its 
 last state will be worse than its first. The ribbon-weavers of 
 Coventry have time out of mind been complaining of bad trade 
 and foreign competition. Since the French Treaty they have, 
 at any rate, known their fate, and Coventry has other manu- 
 factures and other prospects of prosperity. It would be the 
 height of cruelty to tempt capital and labour back, into the 
 ribbon trade by the prospect of a protection against French 
 ribbons, to be withdrawn as soon as the French people become 
 alive to their own true interests, and repeal their duties on 
 English iron and cotton. 
 
 6. A sixth evil of retaliation peculiarly evident to the 
 official mind, but not the less a great public evil, is that it 
 would lead to all the confusions and difficulties which arise 
 from duties differing according to the nationality of the goods, 
 and all the mischiefs and frauds attendant on certificates of 
 origin. A generation has passed away since the reforms of the 
 tariff" swept this troublesome rubbish into the official waste- 
 paper basket. Those who were at work then can remember 
 what a relief that reform was. But the mischiefs formerly 
 caused to trade in its then contracted state were as nothing 
 compared to the evils which such a system would now inflict 
 on trade, considering the infinitely greater number of com- 
 mercial dealings which now take place, and the infinitely greater 
 speed with which they must be conducted. 
 
 7. A seventh evil would be an increase in the cost of the 
 Customs staff, and in the general expenses and trouble of col- 
 lection, which would run away with a large part of any duties 
 that might be imposed. 
 
 8. Another, and most formidable evil is that which Ameri- 
 can writers have pointed out* as actually happening in the 
 United States, viz., the lobbying and jobbery of all the different 
 special interests seeking protection, tending, as has been stated 
 above, not only to economical mischief, but to political 
 degradation. 
 
 See page 20T
 
 Part ii. — retaliation. 195 
 
 CHAPTER XXXVllI. 
 
 RETALIATION ON FRENCH SILKS AND lUENCH WINES. 
 
 Let us see how Retaliation would work in an actual and not im- Retaliation 
 probable case. Proposals to tax French silk have been made '" 'J'P, ^'"^^"^ 
 and are not unlikely to be made again. Silk is, comi)aratively 
 speaking, a luxury, and it is an important French manu- 
 facture. According to our own statistics, we imported silk 
 to the value of about 10 millions sterling from France in 
 1880. There is some reason to doubt these figures, as the 
 exports from France to England, according to French statistics, 
 were only 6^ millions, of which 3:| millions were French manu- 
 lacture ; but it is certainly an important article of French 
 manufacture and export. We also make and export a large 
 (juantity of silk manufactures, amounting in 1883 to about two 
 millions and a half. Let us see what would be the conse- 
 (juence of a high protective duty on French silk imported into 
 England. 
 
 1. English people would get their silk goods less good and silk would 
 less cheap. This, it may be said, is a trifle. Silk is a luxury, L>e worse 
 and people can do very well without it. I will admit that it is inEn^land. 
 not the most important of articles ; but is it a trifle to make the 
 handkerchief, the ribbon, the Sunday gown dearer and uglier ? 
 
 Is it a trifle to take from our people one of the few articles 
 which add grace and beauty to our somewhat sombre and dreary 
 life ? Speaking in the interest of those who can spend little 
 upon mere beauty and ornament, I cannot come to any such 
 conclusion. 
 
 2. It will diminish the (juantity of English goods which are Fewer 
 now sent, directly or indirectly, to France in return for French Hngiish 
 silk. This is beyond doubt. Whatever France sends us we [^°|^,'!^Ve '" 
 pay for, and we pay for it in something we can make better and sold in 
 than she does ; we shall lose a certain quantity of French lixchange. 
 custom, directly or indirectly. But it will be said, " The money 
 
 now spent by English people on French silk must be spent on 
 something else ; that something will probably be silk made 
 in England, and so English labour and capital will be employed 
 N 2
 
 196 FREE TRADE V. FAIR TRADE. 
 
 Rotaiiaiion ^^ niuch and as profitably as il' ihcy were employed to pay the 
 on Silks flench for their silk." 
 
 and Wines. rj-j^g rejoinder is clear: they will be employed, but not as 
 much or as profitably. Ex hypotJiesi the French make the 
 silk they send us better and cheaper than we do ; they can 
 make more profit out of it, and can therefore spend more on 
 other goods of ours in return. On the other hand, it is equally 
 clear that the English capital and labour which we are going to 
 divert into the silk business is now employed on something 
 which pays better than silk, or they would be employed in 
 making silk. Consequently, by diverting this labour and 
 capital to silk-making we are making it less profitable than it 
 was before the tax. There will be a loss all round. 
 Silk manu- 3- It will deprive our own silk manufacturers of the stimulus 
 facture in for improvenient now arising from French competition ; and 
 wilfnot^be '•^^^^' considering the value of French taste and ingenuity in 
 stimulated improving the beauty of manufactures, is no small con- 
 by conipe- sideration. 
 
 ' ''^"' 4. It will call into existence a protected manufacture, weak 
 
 nianufac- ^!id sickly as such manufactures always are. Who that remem- 
 
 tuie will be bers the constant distress of the Spitalfields weavers in the days 
 
 fostered. ^^ Protection can desire to see English money and Englisli 
 
 workmen again tempted byprotective duties into such a business? 
 
 And this 5- I^ ^^'^^^ ^lot Only coax a miserable trade into existence, 
 
 weak but if Retaliation answers the purpose of its promoters, and the 
 
 "'hT^^ French are induced by our refusal of their silks to offer to 
 
 after be take our cottons and wool and iron on reasonable terms, we 
 
 deserted, shall be forced to abandon this protected trade to the tender 
 
 mercies of French competition. We shall have indulged it and 
 
 pampered it only to betray and desert it. We shall have 
 
 educated a body of skilled workpeople to a special branch of 
 
 work only to be left helpless and useless when it comes 
 
 to an end. 
 
 The 6. In the meantime we shall have to distinguish at the 
 
 Custom Custom House between French-made silk and all other silks ; 
 
 have^to dis- ^'^^ ^'- ^^ ^"^ essential part of the policy of Retaliation and Recipro- 
 
 tinguibh city that we are not to place these duties on the goods of 
 
 ^'?^ countries which take our goods free. Switzerland, for instance, 
 
 of°oi'ia'in ^'"id probably Italy, send their silk goods to us through France. 
 
 ofallim- French goods may be sent to us through Belgium or Holland. 
 
 ^\\\^^ We must therefore ascertain, before we allow any bale of 
 
 silk goods to be landed in England, whether they have been
 
 PART ir. — RICTAI.IATION. I97 
 
 made in France or in some other country. Conceive the confu- 
 sion, difficulty, and delay which such official obstructions would 
 cause. They would injure trade more than the tax itself. 
 
 In silk I have taken a manufacture which is carried on both Retniiation 
 in France and Fngland, and in which, therefore, Retaliation on Wine, 
 involves Protection to Fnglish manufacture. This would not 
 be the case with wines, to which X. (the writer in the Fall Mall 
 Gazette, to whom I have referred al)Ove) i)oints as an article on 
 which we might properly lay a retaliatory duty. Jf our 
 hands are freed from treaty obligations, and if either 
 fiscal or social reasons lead us to desire to alter our wine 
 duties, by all means let it be done ; but if they are to be purely 
 retaliatory — that is, if we imjjose duties which we know to be 
 injurious to ourselves for the purpose of injuring France, and 
 thereby comjjelling her to reduce some of her duties on our 
 goods — then they would be open to all the objections I have 
 pointed out in the case of silk. They would, it is true, not 
 protect our manufactures of wine, as we have none, but they 
 would protect the wine-growers of Spain, Italy, and Germany, 
 which it is certainly not our object to do. In all other respects 
 such duties would be followecl by every one of the evil con- 
 sequences I have pointed out as the consequences of a retalia- 
 tory duty on silk. 
 
 CHAPTER XXXIX. 
 
 PROTECTION FOR THE PURPOSE OF CHECKING A TOO EXCLUSIVE 
 DEVELOPMENT OF AGRICULTURE. 
 
 There is one attitude of young Protectionist countries towards Retaliation 
 trade which remains to be considered, viz., that of those who ^^'lej-c Pro- 
 admit that they are incurring economical loss by their policy, adopted^to 
 but who, notwithstanding, resolutely exclude foreign manu- check 
 factures, on the ground that the cultivation of the soil and the exclusive 
 export of raw produce are not by themselves industries suffi- ture. 
 cient to i)romote national progress ; and that it is the interest 
 and business of the State to foster other forms of industry, in 
 order the sooner and the better to form a completely developed 
 society. These views are probably wrong ; for two reasons.
 
 198 FREE TRADE V. FAIR TRADE. 
 
 First, because in a growing agricultural society, left to itself, 
 trade and manufacture necessarily grow up as the wants of the 
 society develop. The local baker, butcher, carpenter, black- 
 smith, are soon wanted to supply the wants of the successful 
 tiller of the ground ; and other and more developed manu- 
 factures follow in due course, healthy and vigorous, because 
 natuaal and necessary. Secondly, because, as all experience 
 shows, protection breeds protection, and, once established, is 
 most ditificult to get rid of Protection to one industry is an 
 injury to another ; that industry claims protection in its turn ; 
 and so on, till all society is bound up in a vicious circle in 
 which each industry has, or thinks it has, an interest opposed 
 to the interests of the whole, and though, perhaps, well able to 
 stand alone, resolutely refuses to be the first to give up its 
 established privilege. 
 
 Right or wrong, however, the views to which I have 
 referred deserve more attention than they commonly receive 
 from us, and are less easy to answer than the ordinary Protec- 
 tionist fallacies. But, right or wrong, Retaliation against this 
 class of Protectionists is still more foolish than against others. 
 Retaliation plays their game exactly ; it is their professed 
 object to force their own labour and capital out of its natural 
 channel — the tilling of the soil — and to turn it artificially into 
 the channels of manufiicture. By refusing to take their raw 
 produce we help them in effecting this object ; for we make 
 their natural productions less valuable. So far from fearing 
 Retaliation as an injury, they will accept it as a friend and an 
 ally ; so far from being frightened into opening their ports to 
 our manufactures by the refusal of their raw produce, they 
 will hail that refusal as the complement of their own policy. 
 
 CHAPTER XL. 
 
 RETALIATION DOES NOT ONLY NOT EFFECT ITS OBJECT, BUT 
 HAS A CONTRARY EFFECT. 
 
 Retaliation ALMOST any one of the objections above noticed appears to me 
 provoke ^^ ^^ ^^^'^^ ^^ ^'''^" pJ"iii^-iple of Retaliation ; but there is still 
 Retaiia- another objection, which has as great weight as any of them, 
 lion.
 
 PART II. — RETALIATION. I99 
 
 Retaliation is not calculated to effect its object ; it is calculated Retaliation 
 to effect the very opposite. It grows upon itself. It provokes produces 
 additional Retaliation, until the nations are hopelessly alienated. 
 A little consideration will show how natural this is, and how 
 little reason we have to expect a favourable result from it. 
 
 In the first place, we lead Protectionists to think that we do It shows 
 not believe in our own princiijles. " See," they will say, "what ^''s'rust m 
 
 T- 1 1 • 1 • ,-.1 r 11- 1 11 ■ our own 
 
 England is doing. She professes to believe that the lowering Principles, 
 of import duties is a good thing in itself, and yet she is taking 
 the first opportunity to raise her own. We will follow her 
 example rather than her precepts." 
 
 In the second place, a natural feeling of antagonism is it arouses 
 aroused ; and feeling is often stronger than self-interest. " We antago- 
 are giving so much, and you give so little ; wc will punish you 
 by giving less." Canning's well-known despatch involves a 
 political, if not an economical truth : — 
 
 " In matters of commerce the fault of the Dutch 
 Is giviny too little and asking too mucii ; 
 With ecjual advantage the French are content, 
 .So we'll clap on Dutch bottoms twenty per cent." 
 
 It needs no thought to feel angry at an over-reaching 
 bargainer ; it needs much tliought to see that the over-reacher 
 over-reaches himself more than he over-reaches us — that we are 
 the greatest gainers by what we have given him. 
 
 But this is not all. The strength of Protection lies in the power strength of 
 of concentrated protected interests. They spend money, time, protected 
 and trouble in defence of their privileges ; they intrigue behind '"'^""^s'^- 
 the throne ; they crowd the lobbies ; and are ready to take the 
 best advantage of the popular indignation caused by an un- 
 successful negotiation. The French Emperor was either unable E.\-perienc.- 
 or unwilling to sacrifice his French ironmasters, though cheap '" '' ranee, 
 iron was one of the first necessities of France. M. Tirard 
 quakes before Rouen and Roubaix, The ironfounders of 
 Pennsylvania are more urgent in the Senate House at Washing- 
 ton than all the western prairies. It needed a most unusual 
 conjunction of political philosophy, ])ublic interest, wealthy 
 manufacturers, distress among the working classes, and heroic 
 leaders, to repeal our own Corn Laws. Our shipowners have 
 scarcely yet forgiven the repeal of the Navigation Laws, though 
 freedom of trade has given them the command of the seas. 
 The recent growls from Preston, from Bradford, from
 
 FREE TRADE 1\ FAIR TRADE. 
 
 Lincolnshire, the farming interest and from the sugar interest, 
 show how soon and how easily, even in this country, partial 
 ■ and self-seeking interests could mislead the multitude and 
 excite a jealous and angry cry, not only for Fair Trade but 
 for absolute Protection to every special interest. Once 
 embarked in a war of tariffs, and we are much more likely 
 to arrive at Prohibition than at Free Trade. 
 
 France is, perhaps, the country which at the present moment 
 is making the most retrograde steps, and it is interesting to see 
 how one Protective measure is leading to others. She protects 
 the yarns which her silk manufacturers need, so she is asked to 
 give a bounty on the export of silk. She protects her own 
 sugar growers, so she must also protect her Colonial sugar 
 growers and her refiners. To remedy agricultural distress, 
 which appears to be greater in France than in England, the 
 French legislature has imposed Protective duties on imported 
 oxen of ^1 a head, and on imported corn of 5s. a quarter. 
 The tax on corn has led to a still higher duty on Foreign semo- 
 lina and similar stuffs in order to protect the French makers of 
 those articles ; and to a very high Protective duty on Foreign 
 flour in order to protect P^rench millers. But the remarkable 
 thing in reading the discussions on these measures is that the 
 most common and most successful argument for protection to 
 agriculture was that French manufactures were already pro- 
 tected at the expense of French agriculturists, and that it was 
 therefore only fair to French agriculturists that they should be 
 protected in turn, at whatever cost to French manufacturers. 
 One bad step involves another. Each class seeks to be pro- 
 tected in turn ; and they form in the end a ring of jobbing 
 interests which unite in opposition to the public interest, 
 because, though all suffer by it, each is afraid to be the first or 
 only one to lose its privileges. 
 
 The history of Protection in the United States is also very 
 instructive. A moderate Protective system existed before the 
 Civil War. During the war everything was taxed, whether 
 imported or produced at home. Protective duties were largely 
 increased in order to compensate for internal duties on the 
 same articles, or for import duties on the raw material. After 
 the war internal duties were taken off, but the compensating 
 duties on imports were continued. They have even been 
 increased, and such has been the influence of the Protected 
 interest on each change in the tariff that measures intended to
 
 PART II. — RETALIATION. 20I 
 
 give some relief to the consumer have been so manipulated as Retaliation 
 to give more protection to the manufacturer. The Americans produces 
 have now, probably, the worst tariff in the world ; and, whilst *^^^'^'°"' 
 they injure other nations, they are themselves the greatest 
 sufferers by it. Nor are the evils which result from it economi- 
 cal only. Mr. Taussig says :— * 
 
 " Contributions to the party chest are the form in which 
 money payments by the protected interest are likely to have 
 been made, so far as such payments were made at all. But the 
 general laxity of thought on public trusts undoubtedly made 
 possible the manipulation of the tariff in the interest of private 
 individuals. The tone of political life — as indeed that of com- 
 mercial life — was lowered by the abnormal economic conditions 
 that followed the war, and the general demoralisation enabled 
 the Protected interests and their chami)ions to rush through 
 Congress measures which, in a more healthy state of public 
 affairs, would have been reprobated and rejected." 
 
 Those who are anxious to re-introduce Protection in this 
 country should be warned by the example of the United States, 
 that if this game of favouritism to special interests were once 
 begun, it is not likely to stop without endangering public 
 morality, and causing evils which are even worse in their social 
 and i)olitical than in their economical aspect. 
 
 But, to return to the economical effect of Protection, Protec- 
 what are the teachings of experience ? We have some Pro- t'on'st , 
 tectionist and some half-Protectionist countries. Do they get „ °t ^q ' 
 better terms from each other than the Free-trading countries ? better 
 Does the United States get better terms from France or Ger- '^''""]^ ^'^^" 
 
 wc do 
 
 many or Canada than England or Holland ? Are the Pro- 
 tectionist countries ready to fly into each other's arms ? We 
 know very well that this is not the case. The very reason Failure of 
 for the adoption of the commercial policy which we iDursued ^^^Y 
 from 1840 to i860 was that negotiations for commercial negotia- 
 treaties had been tried and had failed signally. They had tions. 
 been tried by the ablest negotiators, by Sir R. Peel and Mr. 
 Gladstone, and by the Minister who preceded them. They 
 had been tried with the best possible materials for negotiation, 
 with Protective duties on our part such as Ford Salisbury in his 
 wildest dreams can never hope to get; duties, too, which our own 
 Minister wished for our own sakes to reduce or repeal. U'hen 
 
 * " History of the present Tariff," p. 75
 
 FREE TRADE 
 
 FAIR TRADE. 
 
 Retaliation 
 
 produces 
 
 Retaliation 
 
 Dr. 
 Franklin. 
 
 United 
 States and 
 Canada. 
 Reciprocity 
 Treaty. 
 
 INIr. Ricardo brought forward his celebrated motion for reduc- 
 tion of duties in 1843 and 1844,* his first and strongest point 
 was that negotiations for commercial treaties with Brazil, 
 Portugal, Spain, and France had all been pending and had all 
 come to an end, not only without any favourable result, but 
 with the result of leaving our relations with those countries 
 worse than they had previously been. This no doubt was one 
 ])rincipal reason why, though Mr. Ricardo's motion was 
 rejected at the time as too abstract and absolute. Sir R. Peel 
 and Mr. Gladstone subsequently adopted its policy.f 
 
 The conclusion of Mr. Ricardo's speech consisted of an apt 
 quotation from Dr. Franklin, which may be almost taken as a 
 proj^Iiecy. 
 
 "Suppose X to be a country having three manufactures, 
 cloth, silk, and iron, furnishing those nianufactures to three 
 countries. A, B, C ; and that X, to improve the cloth manufac- 
 ture, should lay a duty amounting to prohibition on all the cloth 
 coming from A ; that A, to retaliate, should lay a prohibitory 
 duty on silk coming from X. The silk-workers would begin to 
 complain, and X, to protect them, should lay a prohibitory duty 
 on the silk coming from B ; B, to retaliate, should put a pro- 
 hibitory duty on iron coming from X. The iron manufacturers 
 would complain, and then X, to protect them, should lay a pro- 
 hibitory duty on iron coming from C ; whilst C, to retaliate, 
 should lay a duty on the cloth coming from X. And Dr. 
 Franklin asked, what benefit these four countries would gain 
 by these prohibitions, while all four would have curtailed the 
 sources of their comforts and the conveniences of life ?" 
 
 Our experience is not confined to this side the Atlantic. 
 Dr. Franklin's supposed case represents exactly the present 
 relation between his own country and Canada. The United 
 States and Canada are meant by nature to do business freely 
 with one another. An artificial barrier between them is to the 
 eyes of common sense, as of political philosophy, absurd and 
 vmnatural ; and yet it exists, and has grown into formidable 
 dimensions within the last 25 years. This is no doubt partly 
 due to extraneous circumstances, such as the dispute about the 
 Fisheries and Fenian raids ; but in the main it has been the 
 natural result of endeavours to arrive at Free Trade by the 
 road of Retaliation. In 1854, as I have mentioned above, a 
 
 * " Hansard,'' vol. 73, p. 1271. 
 
 i" See Sir R, Peel's speech, July 6, 1849. 
 
 " Hansard," vol. 106, p. 1429.
 
 PART II. — RETALIATION. 203 
 
 commercial treaty was made between Canada and the United Retiliation 
 States to the mutual advantage of both, under which certain j^'^jgHa^fon 
 products of each country were admitted into the other duty 
 free, liberty to tax other products being still reserved. In 1865 
 the United States denounced that treaty. What were the rea- 
 sons they gave for it ? Those reasons were contained in an 
 elaborate report of the Committee of the House of Representa- 
 tives, which was laid before our Parliament.* The Committee 
 admit and assert, in the strongest terms, the importance to 
 Canada and to the United States of the most unrestricted mter- 
 coursc, and indeed advocate, as the best if not the only method 
 of effecting it, a complete Zollverein, or Customs' Union on the 
 (iernian plan, including all British North America, within the 
 limits of which no Customs' duties whatever should be levied. 
 'l"he same Committee condemn the then existing treaty in 
 terms which remind one of our Fair Traders, because, as they 
 say, it was one-sided ; in other words, because the people of the 
 United States obtained under it Canadian corn, and fish, and 
 timber duty free, whilst the Canadians were compelled by their 
 own import duties to pay an extra and unnecessary price for the 
 sugar, cotton, silk, iron, and wool of the United States. The 
 Committee made special, and apparently not ill-founded, com- 
 ])laints that Canada had ever since the treaty constantly 
 increased her duties on these articles until her conduct had 
 provoked severe observations from the English Colonial Minis- 
 ter, which again provoked unpleasant recrimination in the 
 Canadian Parliament. What induced Canada thus to increase 
 her duties, I do not know ; but that she should do so in the 
 hope of obtaining still better terms from the United States was 
 a natural result of the bargaining system. At any rate, the 
 result was that the United States, instead of taking a step in the 
 direction of freedom, said, ''If you give us such bad terms, we 
 will give you worse ;" and they consequently withdrew from the 
 treaty, and left Canadian goods subject to their oppressive 
 tariff The attempts at a bargain went on more or less until 
 1S79, when Canada, finding herself worsted, determined to re- 
 taliate with greater vigour, and adopted the Protective tarifi" of 
 1879, of which we have heard so much, and which, whatever 
 Mr. Goldwin Smith may say, was distinctly Protectionist in 
 character, and was expressed and intended to be a commercial 
 
 * Sec Pespatch from Lord Lyons, North Aniericn, No. 10, 1862.
 
 204 
 
 FREE TRADE 
 
 FAIR TRADE. 
 
 Retaliation 
 
 produces 
 
 Retaliation. 
 
 blow to the United States. What will be the next step no on 
 can say. Sooner or later both parties will probably come to 
 their senses ; but in the meantime, we may well ask, with Dr. 
 Franklin, "what benefit those two countries have gained by their 
 prohibitions, whilst each has curtailed the sources of their com- 
 forts and the conveniences of life?" But such is the natural 
 result of the use of those dangerous weapons Retaliation and 
 Reciprocity; and to such an end we may be very sure Retaliation 
 would soon come in this country, especially if it were wielded 
 by the hands of those who cannot see the fundamental truth 
 that every separate restriction on commerce, whether imposed 
 by ourselves or others, is a separate and independent evil to 
 ourselves as well as to our neighbours, and that every removal 
 of every restriction is a separate and independent gain to 
 ourselves as well as to our neighbours. 
 
 CHAPTER XLI. 
 
 Cobden's 
 Treaty 
 gives no 
 counte- 
 nance to 
 Retalia- 
 tion. 
 
 We did 
 nothing we 
 should not 
 have done 
 without a 
 Treaty. 
 
 THE FRENCH TREATV OF 1860. 
 
 To Retaliation, whatever Lord Salisbury may say, the French 
 treaty of i860, properly understood, gives no real countenance. 
 In that treaty we neither imposed nor threatened to impose 
 duties either on French or on any other goods ; on the contrary, 
 we took duties off French goods, and at the same time off similar 
 goods the produce of all other countries. 
 
 In doing tliis, we were doing what was strictly for our own 
 interest, independently of the action of France. In deference 
 to the weakness of France, we put what we did into the form of 
 a bargain — Do 7it des ; but we were giving nothing we should 
 have wished to keei). What we did was, with one doubtful ex- 
 ception, what we should have done, and ought to have done, 
 had France made no relaxation of her duties. This is the dis- 
 tinction which Lord Salisbury fails to see. There is a world- 
 wide difference between taking advantage of the accident that 
 what we do for our own sakes is looked on by a foreign nation 
 as a concession, and doing something which for our own sakes 
 we should avoid, in order to have a concession to make. The
 
 PART II. RKTALIATION. 205 
 
 fact that the form of the French treaty lias misled Lord Salisbury 
 and others into overlooking this distinction, is, to my mind, the 
 greatest objection to it. 
 
 The single exception to which I have referred, if indeed it Wine tlie 
 is an exception, is the wine duty. Strong reasons, founded on ^P'*^ excep- 
 considerations affecting the health of the people and the e°c"epiion. 
 safety of the revenue, were given for the particular duties fixed 
 in 1860-62. So far as these reasons support those duties, there 
 can be no [jossilile objection to them. But there can be no 
 doubt that in fixing these duties the interests of France had 
 also some influence, and there can be no doubt that these 
 duties do give some advantage to French wine over the wines 
 of other countries. Further investigation and experience have 
 led to a doubt whether these duties were properly settled. The 
 Committee of the House of Commons which sat upon this 
 subject in 1879 came to the conclusion that the fiscal and 
 social reasons given for these duties were insufficient, and the 
 Spanish and Portuguese Governments have strongly and 
 repeatedly remonstrated against them, as creating differential 
 charges on the wines of Spain and Portugal. Spain has even 
 gone so far as to retaliate by differential duties on English goods. 
 Our own colonies have complained, as mentioned above. 
 \Ve have just now been proposing to alter our wine duties in 
 order to admit the stronger wines of Sixain, and we exi^ected P^"ger of 
 to obtain from Spain a reduction 01 her exorbitant charges on inustnued 
 our goods. In reducing the wine duties we should be doing what by the 
 is for our own interest ; and this is our real justification. P'''-'se"t 
 The true policy for us to adopt is to have regard only to what thino-s. 
 we should do if no French or Spanish tariff' existed : to admit 
 low-priced French wines at a lower rate of duty ; to reduce the 
 present duty on Spanish and Portuguese wines ; or to increase 
 the wine duties altogether, and repeal some other tax, such as 
 the tea duty ; whichever may be most advantageous to us, 
 with a simple regard to the interests of our revenue and the 
 benefits to be derived by our people from light or strong wines 
 or from tea. If we simply admit Spanish and Portuguese wines 
 because it is our interest to get those wines cheap, and to 
 encourage trade with Spain and Portugal, it will be well. And 
 if the present Spanish Minister wishes to make such a reduction 
 the condition of reducing his own tariff, we properly get the 
 benefit of his action. But if we tie our hands by a treaty, we 
 may embarrass ourseh'cs financially ; and if our arrangements
 
 FREE TKAUE V. FAIR TRADE. 
 
 French 
 Treaty. 
 
 Cobden's 
 Treaty not 
 to be 
 
 judged by 
 economical 
 results 
 alone. 
 
 " Most 
 favourt d 
 Nation " 
 clause. 
 
 were such as to place a differential and vindictive duty on the 
 wines of France, we should undoubtedly be committing a great 
 economical as well as political mistake, and be starting on a 
 course of policy towards France which would have a bad effect, 
 not only on the trade between the two countries, but on rela- 
 tions which are still more important than trade. 
 
 It is not, however, by the balance of economical results, 
 past, present, or future, that the value of the French Treaty 
 can be rightly judged. Its eftect at the time in putting a 
 stop to that alienation of the two nations which was then 
 threatening to break out into war, and the kindly personal 
 intercourse which has since been brought about between 
 Frenchmen and Englishmen, are results of still greater 
 importance than increase of trade. One thing, however, may 
 be said of the French treaty, which, considering the danger of 
 all negotiations of the kind, is perhaps not its least merit, 
 viz., that it cannot be a precedent; for, by abolishing all or 
 nearly all the duties we can s[)are, it has left us little or no 
 means to strike further bargains. 
 
 In speaking as I have done of the French treaty of i860, I 
 am quite aware of the value of the system, well described in 
 the following passage from Mr. Morley's "Life of Cobden." 
 
 " In these treaties, and in the treaty made afterwards by 
 England with Austria, Sir Louis Mallet reminded its opponents 
 in later years that each of them had a double operation. Not 
 only does each treaty open the market of another country to 
 foreign industry ; it immediately affects the markets tliat are 
 already opened. For every recent treaty recognised the ' most 
 favoured nation ' principle, the sheet-anchor of Free Trade, as 
 it has been called. By means of this principle, each new point 
 gained in any one negotiation becomes a part of the common 
 commercial system of the Eurojjcan confederation. ' By means 
 of this network,' it has been excellently said by a distinguished 
 member of the English diplomatic service, ' of which iftw Eng- 
 lishmen seem to be aware, while fewer still know to whom they 
 owe it, all the great trading and industrial communities of 
 Europe — />., England, France, Holland, Belgium, the ZoUverein 
 (1870), Austria, and Italy — constitute a compact international 
 body, from which the principle of monopoly and exclusive 
 privilege has once for all been eliminated, and not one member 
 of which can take off a single duty without all the other mem- 
 bers at once partaking in the increased trading facilities thereby
 
 I'AR'r II. — KKTALIATION. iO'J 
 
 Created. By the self-registering action of tlie " most favoured French 
 nation" clause, common to this network of treaties, the tariff 'rcaty. 
 level of the whole body is being continually lowered, and the 
 road being jjaved towards the final embodiment of the Free 
 Trade principle, in the international engagement to abolish all 
 duties other than those levied for revenue purposes.' " 
 
 But it must be remembered that some of the nations have Actual con- 
 drawn back from these treaties ; that Germany, Austria, Italy, and sequences 
 France have recently raised their duties ; and that if it is a great Treaties, 
 advantage to have duties reduced for us behind our back, and 
 without effort on our part, by the operation of the " most favoured 
 nation " clause, there is some inconvenience in having them 
 raised behind our back by action on the ])art of two foreign 
 nations with which we have nothing to do. It may also be some 
 drawback to the value of this generally excellent clause if one 
 nation — France, for instance — should be prevented from re- 
 ducing her tariff in our favour, because if she did so, she would 
 be compelled by the " most favoured nation " clause to give 
 the same privilege to another nation — say Germany. 
 
 In short, if the separate action followed by us from 1840 to Remit of 
 i860 was not successful in making other nations reduce their '^ '■*:'^''"°" 
 
 action oi 
 
 duties, I think we must admit that neither has the treaty system Foreign 
 adopted in i860 been followed by unalloyed success, whilst it Nations 
 has certainly set men's minds in a wrong direction. Tio'^ether 
 
 In making this reference to the French Treaty of 1S60, I do successful, 
 not wish to be understood as saying that the balance of results, 
 even in an economical point of view, have not been good. I 
 only say that there have been large drawbacks. 
 
 It may seem ungenerous and out of place, in a paper CoicKn's 
 published by the Cobden Glub, to say a word which seems to ^"-^^s- 
 throw doubt upon the great work of Cobden's later years. But 
 Cobden is beyond any such criticism. His greatness consisted 
 in the way in which he kept his great object in view, aided but 
 not fettered by formulas. When Freedom of Trade could be 
 Ijromoted by separate action, he was for separate action ; when 
 he thought it could be promoted by joint action with France, 
 he was for joint action. If that joint action had been shown to 
 him to have consequences dangerous to Free Trade, he wouUl 
 have been the first to abandon it. If I hesitate about the 
 policy and effect of the commercial treaties, it is certainly not 
 " because they do not sound in tune with the verbal jingle of an 
 abstract dogma." My doubts arc very practical and concrete.
 
 2o8 FREE TRADE V. FAIR TRADE. 
 
 French I am afraid of being led into Retaliation. If it is true, as some 
 rrea^y- of the thorough-going advocates of the treaty appear to think, 
 lion to the" that it is useless for us to abolish our duties on imports, unless 
 Treaties, foreign nations at the same time abolish their duties on our 
 that they exports. Lord Salisbury's conclusion is inevitable — we must 
 Re!ali;i- reimpose our own import duties, until we can get foreign 
 li 'n. nations to take off theirs. To controvert this conclusion is one 
 
 of ihc principal objects of this work.
 
 PART II. — RETALIATION. 209 
 
 CONCLUSIONS OF PART II. AS TO RETALIATION. 
 
 To sum up : the conclusions to which the above reasoning 
 leads us on the subject of Retaliation are as follow : — 
 
 1. Retaliation is an impotent weapon in our hands. Retalia- 
 
 2. To lower foreign taritTs was not the sole or principal j jmpo- 
 object of the authors of our present policy. They would have tent, 
 adopted that policy had they known that no foreign tariff would 
 
 be lowered. 
 
 3. All duties are impediments to trade; the fewer duties, 2. Un- 
 the fewer impediments. We can remove our own duties ; we ^^^'^'^ *^°'"- 
 cannot remove our neighbours'. 
 
 4. No tariff is an absolute barrier ; and a free country has 
 such advantages in production that it can compete with a 
 Protectionist country, even for the home market of the latter. 
 
 5. Exports involve imports ; all Protectionist countries de- 
 sire to export, and must therefore import, ^^^lere a Protec- 
 tionist country exports to another country, the second country 
 must pay in goods, if not directly to the Protectionist country, 
 indirectly through some third country. 
 
 6. There are many free and many neutral markets, and 
 all of them a Free-trading country has advantages over a 
 Protectionist rival. 
 
 7. Protection has not, so far as we can judge, advanced 
 trade and manufacture in France, Germany, or the United 
 States, but the reverse. 
 
 8. The trade of a country depends on many things besides 
 Free Trade. Free Trade only removes impediments. What 
 can be claimed for Free Trade is that a country is better with 
 it than without it. The prosperity of the Ignited States does 
 not affect the question. 
 
 9. For the above reasons, there is no fear of our losin our 
 market, and the case for Retaliation tails. 
 
 O
 
 210 
 
 FREE TRADE V. FAIR TRADE. 
 
 3. Mis- 
 chievous. 
 
 Summary 
 of Free 
 Trade 
 doctrine. 
 
 Each man 
 knows how 
 to buy and 
 sell better 
 than his 
 Govern- 
 ment. 
 Every one 
 who buys 
 sells at the 
 same time. 
 
 Buying and 
 selling 
 between 
 different 
 countries 
 do not 
 differ from 
 buying and 
 selling at 
 home. 
 
 10. Retaliation must, in its immediate consequences, be 
 injurious to ourselves. 
 
 11. Retaliation is calculated to defeat its own object, and 
 to provoke further Retaliation. 
 
 12. The Cobden treaty affords no ground whatever for 
 Reciprocity or Retaliation. 
 
 The simplicity of the Free Trade position is obscured by 
 the vastness and complexity of modern business. But it is in 
 truth simple in the extreme. This book and much else which 
 has been written on the subject is only an expansion of the 
 following elementary truths : — 
 
 1. Every man knows belter what he wants to buy and sell 
 than his Government can possibly know for him. He will buy 
 and sell to the best advantage, if left free to buy and sell as he 
 chooses. 
 
 2. Every one Avho buys, sells at the same time. His pur- 
 chase is really an exchange. The money he pays for the goods 
 which he buys is really an order given to the seller for other 
 goods. The more buying the more selling. 
 
 3. As regards dealings between inhabitants of the same 
 street, the same village, the same town, the same country, no 
 one thinks of disputing these truths. But they are just as 
 true as regards dealings between inhabitants of different 
 countries. 
 
 No one who is master of these simple and obvious truths 
 will be misled by Protectionist sophisms.
 
 FINAL CONCLUSIONS. 211 
 
 FINAL CONCLUSIONS. 
 
 The proposals of the Fair Trade League, worthless as they 
 may be in themselves, have aftbrded an opportunity for discuss- 
 ing points of some real interest, and for answering some ques- 
 tions which deserve an answer. 
 
 On the Colonial question it is impossible not to feel New 
 sympathy with the desire to draw closer the commercial bonds p^/^"' 
 between ourselves and those growing communities of our own object may 
 lineage and habits which it is Fngland's greatest pride to have i>egood: 
 
 /^ \Ieans are 
 
 brought into existence. It has been the object of the first part ^^^^ 
 of this paper to show that all the proposals which have been 
 made for effecting this object by legislative means involve 
 either restrictions on our trade with other countries, or re- 
 strictions on colonial self-government ; and that any such 
 restrictions would tend to disruption, and not to closer 
 union. 
 
 The great fact is that Governments cannot create trade ; Govem- 
 they can only impede and injure it. They cannot divert it^^g"jf^u" 
 without diminishing it. When people talk of its being the not create; 
 duty of the Government to find markets for their people, what Trade, 
 they mean is that the Government shall deprive their people of 
 the markets which they find for themselves. 
 
 On the second great question which I have treated — viz., Retaliation 
 Retaliation — there can be no such sympathy. Retaliation t>ad in 
 appears to me to be the natural offspring of a state of mind effect, 
 which regards our gain as others loss — a state of mind which is 
 the hot-bed of Chauvinism, Imperialism, and Protection. A 
 wave of feeling springing out of this state of mind has lately 
 swept over us and over the world ; and it is not surprising that Hopeful 
 it should bring with it a moderate revival of Protection in Tenden- 
 countries where protected interests rule the State, and a '^'^ * 
 feeble attempt to revive it in our own. But the great tide 
 sweeps on its course, and this is but an eddy in the stream. 
 Time and circumstances are in its favour, and its main course 
 is in one direction. Steam and telegraph have brought the 
 O 2
 
 2 12 FREE TRADE V. FAIR TRADE. 
 
 nations of the world together ; Prohibition has been succeeded 
 by Protection, and Protection in many cases by Freedom; the 
 hmits of petty States have been enlarged into Customs Unions 
 and Federations, which embrace whole continents. Men are 
 being brought more and more together, and in so doing they help 
 one another more and more. It is the misfortune of the state 
 of mind to which I have referred that it ' fails to apprehend 
 and appreciate that moral element in trade which gives to it 
 its greatest value and significance — that element, namely, by 
 virtue of which each act of trade is a good to both the parties 
 to it, and each removal of a national restriction on trade is 
 a good to all the nations concerned. It is twice blessed. 
 It blesseth him that gives and him that takes. It reconciles 
 self-interest with morality— our duty to ourselves with our 
 duty to our neighbour ; and it thus brings the nations a little 
 nearer to the distant ideal of the Christian moralist. 
 
 I cannot end this discussion better than with Cobden's 
 own words : — 
 
 " I do not think the nations of the earth will have a chance 
 of advancing morally in their domestic concerns to the degree 
 of excellence which we sigh for until the international relations 
 of the world are put upon a different footing. The present 
 system corrupts society, exhausts its wealth, raises up false gods 
 for hero-worship, and fixes before the eyes of the rising genera- 
 tion a spurious if a glittering standard of glory. It is because 
 I believe that the principle of Free Trade is calculated to alter 
 the relations of the world for the better, in a moral point of 
 view, that I bless God I have been allowed to take a prominent 
 part in its advocacy."
 
 appe:^dix. 
 
 TABLES. 
 
 Comparison of our Foreign and Colonial 7i-ade. 
 
 1. Statement of the Value of the Exports of British and Irish Produce from 
 
 the United Kingdom, and of the Amounts and Proportion exported to 
 Foreign Countries and British Possessions respectively, in each of the 
 Years from 1856 to 1883 inclusive /. 216 
 
 2. Statement of the Value of the Total Exports of British and Irish, and 
 
 Foreign and Colonial Produce from the United Kingdom, and of the 
 Amounts and Proportion exported to Foreign Countries and British 
 Possessions respectively, in each of the Years from 1856 to 1883 
 inclusive . . . . . . . . . . /^- 217 
 
 3. Statement of the Value of the Imports of Merchandise into the United 
 
 Kingdom, and of the Amounts and Proportion from Foreign Countries 
 and British Possessions respectively, in each of the Years from 1856 to 
 1883 inclusive /. 218 
 
 4. Statement of the Total Value of Imports and Exports of Merchandise 
 
 into and from the United Kingdom, and of the Amounts and I'roportion 
 from and to Foreign Countries and British Possessions^ in each of the 
 Years from 1856 to 1S83 inclusive . . . . . /■ 219 
 
 5. Statement in Detail of the Total Exports of Merchandise from the 
 
 United Kingdom to each of certain Foreign Countries and British 
 Possessions, in each Year and Period of Five Years since 1S66, with 
 the Proportions that the Amounts for each Country and Possession 
 bear to the whole Exports in each Year and Period //. 220 to 225 
 
 6. Statement in Detail of the Imports of Merchandise into the United 
 
 Kingdom from each of certain Foreign Countries and British 
 Possessions, in each Year and Period of Five Years since 1866, with 
 the Proportions that the Amounts from each Country and Possession 
 bear to the whole Imports in each Year and Period //. 226 to 228 
 
 7. Statement compiled from the two previous Tables, showing the Propor- 
 tion of the Total Foreign Trade of the United Kingdom — Imports and
 
 214 APPENDIX. 
 
 Exports of Merchandise — carried on with each of certain Foreign 
 Countries and British Possessions . . . //. 229 and 230 
 
 Ejects of Fretich Indemnity. 
 S. Statement showing the Value of Imports of Merchandise into Germany 
 from certain Countries, and of Exports thereof from Germany to the 
 same Countries in the Years 1868 to 1877, made up from the statistics 
 of the different Countries named (in the absence of official German 
 statistics) by treating the Exports from them to Germany as Imports 
 into Germany, and the Imports from Germany into them as Exports 
 from Germany . . . . . . . . . /. 231 
 
 9. Statement showing the Total Value of Merchandise Imported into and 
 Exported from France in the Years 1868 to 1877, according to the 
 French official returns ....... p. 232 
 
 10. Statement showing the Value of Imports of Merchandise into France 
 from certain Countries, and Exports thereof from France to the same 
 Countries, according to the French official returns, in the Years 1868 
 to 1877, covering the period of the payment of the Indemnity to 
 Germany ........../. 233 
 
 Ciirititojis Trade between the United Kingdom, United States, and India 
 and other Countries. 
 
 11. Statement showing the Value of the Imports of Merchandise and 
 Treasure, on Private and Government Account, into British India 
 from the United Kingdom, and Value of the Exports of the same from 
 British India to the United Kingdom, in the Years 187 1 to 1880, com- 
 jiiled from the official statistics of the Indian Government . /. 234 
 
 12. Statement showing the Value of the Imports of Merchandise and 
 Treasure, on Private and Government Account, into British India 
 from certain Countries, and Value of the Exports of the same from 
 British India to the same Countries, in the Years 1871 to 1880, com- 
 piled from the official statistics of the Indian Government . /. 235 
 
 Duties levied on British Produce in Foreign Countries and Colonics. 
 
 13. Return of the Rates of Import Duty levied in the principal European 
 Countries, in the United States, and in the principal Colonial 
 Possessions of the United Kingdom, on certain Articles of British 
 Produce or Manufacture ..... //. 236 to 241 
 
 14. Return of the estimated or actual ad valorem Rates of Import Duty 
 levied in the principal European Countries, in the United States,
 
 APPENDIX. 215 
 
 and in the principal Colonial Possessions of the United Kingdom, 
 on certain Articles of British Produce or Manufacture //. 242 to 245 
 
 Proportions in which different Countries supply us with Food. 
 
 15. Statement showing in what Proportion, according to Value, the principal 
 Articles of Food, except Fruit, were imported into the United King- 
 dom from Foreign Countries and British Possessions in the Year 1883, 
 with the Total Values of such Articles imported from all F"oreign 
 Countries and British Possessions respectively . pp. 246 to 247 
 
 16. Statement showing the Proportion per cent, of the Total Value of the 
 Articles of Food named in Table 15, imported into the United King- 
 dom from Foreign Countries and British Possessions, for the Year 
 1883 /• 24S 
 
 Exports from the United Kingdom, Franee, Germany, and United Stales, 
 classified as Food, Raw Material, and Manufactures. 
 
 17. Statement showing the Value of the Exports of British and Irish 
 Produce in each of the Years 1870, 1880, and 1883, classified as 
 Articles of Food, Raw Materials, and Manu^L^cturcd Goods 
 
 //. 249 to 255 
 
 iS. Statement showing the Proportion of Food, Raw Materials, and 
 Manufactured Articles in the Domestic Exports of France for each 
 of the Years 1869 and 1S79, compiled from the French official 
 returns //. 255 to 258 
 
 19. Statement sliowing the Proportion of Food, Raw Materials, and 
 Manufactured xVrticles in the Domestic Exports of Germany for eacli 
 of the Years 1S69 and 1879, compiled from the official returns of 
 Germany ........ //. 258 to 260 
 
 20. Statement showing tlie Proportion of Food, Raw Materials, and Manu- 
 factured Articles in the Domestic Exports of the United States for each 
 of the Years 1870 and 1880 (Years ended 30th June), compiled from 
 the official returns of the United States . . . //. 261 to 263 
 
 A/iseellancoiis. 
 
 21. Statement showing tlie Population, Public Debt, Imports and Exports 
 of the Australian Colonies and the Dominion of Canada, for each of 
 the eleven years ended 1883 ..... //. 26410267 
 
 22. Summarized StatisticsofthePopulationof the United Kingdom, and their 
 condition from 1840 to 18S4— as far as the same can be given. /. 26S
 
 2l6 
 
 APPENDIX. 
 
 TABLE I. 
 
 statement of the I'alitc oj the Exports of British and Irish Produce from the United 
 Kingdovi, and of the Amounts and Proportion Exported to Foreign Countries 
 and British Possessions respectively, in each of the Years from 1856 to 18E3 inclu- 
 sive; in thousands of pounds, i.e., 100 ^= 100,000. 
 
 
 
 Exported to Foreign Coun- 
 
 E.\ported to British Pos- 
 
 
 Total Value 
 
 tries on 
 
 ly. 
 
 sessions 
 
 only. 
 
 .,. 
 
 of Exports of 
 British and Irish 
 
 
 
 
 
 ^^^^- 
 
 
 
 
 
 
 Produce. 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 
 £ 
 
 L 
 
 
 £ 
 
 
 1856 
 
 115.827 
 
 82,527 
 
 71-2 
 
 33,300 
 
 28-8 
 
 1857 
 
 122,066 
 
 84,911 
 
 69-6 
 
 37.155 
 
 30-4 
 
 1858 
 
 116,609 
 
 76,386 
 
 65-5 
 
 40,223 
 
 34-5 
 
 1859 
 
 130,412 
 
 84,268 
 
 64-6 
 
 46,144 
 
 35 '4 
 
 i860 
 
 135.891 
 
 92,226 
 
 67-9 
 
 43,665 
 
 321 
 
 1861 
 
 125,103 
 
 82,858 
 
 66-2 
 
 42,245 
 
 33-8 
 
 1862 
 
 123,992 
 
 82,097 
 
 66-2 
 
 41,895 
 
 33-8 
 
 1863 
 
 146,602 
 
 95,723 
 
 653 
 
 50,879 
 
 347 
 
 1864 
 
 160,449 
 
 108,735 
 
 678 
 
 51,714 
 
 32-2 
 
 1865 
 
 165,836 
 
 117,629 
 
 70-9 
 
 48,207 
 
 29'I 
 
 1866 
 
 188,917 
 
 135.198 
 
 71-6 
 
 53.719 
 
 28-4 
 
 1867 
 
 180,962 
 
 131,162 
 
 72-5 
 
 49,800 
 
 27*5 
 
 1868 
 
 179,678 
 
 129,813 
 
 72-2 
 
 49.865 
 
 27-8 
 
 1869 
 
 189,954 
 
 141,881 
 
 747 
 
 48,073 
 
 25-3 
 
 1870 
 
 199,587 
 
 147,773 
 
 74-0 
 
 51.814 
 
 26-0 
 
 1871 
 
 223,066 
 
 171,816 
 
 77 -o 
 
 51,250 
 
 23 "o 
 
 1872 
 
 256,257 
 
 195,701 
 
 76-4 
 
 60,556 
 
 23-6 
 
 1873 
 
 255.165 
 
 188,836 
 
 74 "o 
 
 66,329 
 
 26-0 
 
 1874 
 
 239,558 
 
 167,278 
 
 69-8 
 
 72,280 
 
 30-2 
 
 1875 
 
 223,466 
 
 152,374 
 
 68-2 
 
 71,092 
 
 31-8 
 
 1876 
 
 200,639 
 
 135-780 
 
 677 
 
 64.859 
 
 32-3 
 
 1877 
 
 198,893 
 
 128,970 
 
 64-8 
 
 69.923 
 
 35 "2 
 
 1878 
 
 192,849 
 
 126,611 
 
 657 
 
 66,238 
 
 34 '3 
 
 1879 
 
 191,532 
 
 130,530 
 
 68-2 
 
 61,002 
 
 31-8 
 
 1880 
 
 223,060 
 
 147,806 
 
 66-3 
 
 75.254 
 
 337 
 
 I88I 
 
 234,023 
 
 154,658 
 
 66-1 
 
 79.365 
 
 33*9 
 
 1882 
 
 241,467 
 
 156,641 
 
 64-9 
 
 84,826 
 
 35'i 
 
 1883 
 
 239,799 
 
 156,322 
 
 65-2 
 
 83,477 
 
 34-8
 
 APPENDIX. 
 
 217 
 
 TABLE II. 
 
 Statement 0/ the Value 0/ the Total Exports of British and Irish, and Foreign and 
 Colonial Produce /rom the United Kingdom, and 0/ the Amounts and Proportion 
 Exported to Foreign Countries and British Possessions respectively, in each of the 
 Years from 1856 to 1883 inchtsii'e ; in thousands of pounds, i.e., 100 = 100,000. 
 
 
 
 Exported to Foreign Coun- 
 
 Exported to 
 
 British Pos- 
 
 
 
 tries or 
 
 ly. 
 
 sessions 
 
 only. 
 
 Years. 
 
 Total Value of 
 
 
 
 
 
 Exports. 
 
 
 
 
 
 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 
 £> 
 
 £ 
 
 
 £ 
 
 
 1856 
 
 139,221 
 
 102,525 
 
 73 '6 
 
 36,696 
 
 26-4 
 
 1857 
 
 146,174 
 
 105,738 
 
 72-3 
 
 • 40,436 
 
 277 
 
 1858 
 
 139,783 
 
 96,570 
 
 69- 1 
 
 43,213 
 
 30-9 
 
 1859 
 
 155,693 
 
 106,042 
 
 68-1 
 
 49,651 
 
 31 9 
 
 i860 
 
 164,521 
 
 117,988 
 
 717 
 
 46,533 
 
 28-3 
 
 1861 
 
 159,632 
 
 "4,493 
 
 717 
 
 45,139 
 
 28-3 
 
 1862 
 
 166, 16S 
 
 120,744 
 
 727 
 
 45,424 
 
 273 
 
 1863 
 
 196,902 
 
 141,932 
 
 72-1 
 
 54,970 
 
 27-9 
 
 1864 
 
 212,588 
 
 156,892 
 
 73-8 
 
 55.696 
 
 26-2 
 
 1865 
 
 218,832 
 
 167,285 
 
 76-4 
 
 51,547 
 
 23 '6 
 
 1866 
 
 238,906 
 
 181,738 
 
 76-1 
 
 57,168 
 
 23 "9 
 
 1867 
 
 225,802 
 
 172,440 
 
 76-4 
 
 53,362 
 
 23-6 
 
 1868 
 
 227,779 
 
 174,061 
 
 76-4 
 
 53,718 
 
 23 "6 
 
 1869 
 
 237,015 
 
 185,123 
 
 78-1 
 
 51,892 
 
 2 1 "9 
 
 1S70 
 
 244,080 
 
 188,689 
 
 ITZ 
 
 55,391 
 
 227 
 
 1871 
 
 283,575 
 
 228,014 
 
 80-4 
 
 55,561 
 
 19-6 
 
 1872 
 
 314,589 
 
 248,980 
 
 79-1 
 
 65,609 
 
 20 '9 
 
 1873 
 
 311,005 
 
 239,857 
 
 77-1 
 
 71,148 
 
 22-9 
 
 1874 
 
 297,650 
 
 219,740 
 
 73-8 
 
 77,910 
 
 26*2 
 
 1875 
 
 281,612 
 
 204,957 
 
 72-8 
 
 76,655 
 
 27-2 
 
 1876 
 
 256,777 
 
 186,627 
 
 727 
 
 70,150 
 
 27-3 
 
 1877 
 
 252,346 
 
 176,594 
 
 70*0 
 
 75,752 
 
 30-0 
 
 1878 
 
 245,484 
 
 173,491 
 
 707 
 
 71,993 
 
 293 
 
 1879 
 
 248,783 
 
 182,274 
 
 73-3 
 
 66,509 
 
 267 
 
 1880 
 
 286,415 
 
 204,887 
 
 71-5 
 
 81,528 
 
 28-5 
 
 1S81 
 
 297,083 
 
 210,402 
 
 70-8 
 
 86,681 
 
 29-2 
 
 1882 
 
 306,661 
 
 214,323 
 
 69-9 
 
 92,338 
 
 30-1 
 
 1883 
 
 305,437 
 
 215,036 
 
 70-4 
 
 90,401 
 
 29.6
 
 2t8 
 
 Appendix. 
 
 TABLE 111. 
 
 Statement of the Value of the Iiit/>orts of Merchandise into the United Kingdom, and 
 oj the Amounts and Proportion/roDi Foreign Countries and British Possessions 
 respectively, in each of the Years from 1856 to 1883 incltisic'e ; in thousands of 
 pounds, i.e., 100 ^ 100,000. 
 
 
 
 Imported from Foreign 
 
 Imported from British 
 
 
 
 Countries only. 
 
 Possessions only. 
 
 
 Total Value of 
 Imports. 
 
 
 
 
 
 Years. 
 
 
 
 
 
 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 
 £ 
 
 £ 
 
 
 £ 
 
 
 1856 
 
 172,544 
 
 129,517 
 
 75'i 
 
 43,027 
 
 24-9 
 
 1857 
 
 187,844 
 
 141,661 
 
 75 '4 
 
 46,183 
 
 24-6 
 
 1858 
 
 164,584 
 
 125,970 
 
 76-5 
 
 38,614 
 
 23-5 
 
 1859 
 
 179,182 
 
 139,707 
 
 78-0 
 
 39,475 
 
 22 "O 
 
 i860 
 
 210,531 
 
 167,571 
 
 79-6 
 
 42,960 
 
 20 '4 
 
 1861 
 
 217,485 
 
 164,809 
 
 75-8 
 
 52,676 
 
 24-2 
 
 1S62 
 
 225,717 
 
 160,434 
 
 7I-I 
 
 65,283 
 
 28-9 
 
 1863 
 
 248,919 
 
 164,235 
 
 66 -o 
 
 84,684 
 
 34-0 
 
 1864 
 
 274,952 
 
 181,208 
 
 65 "9 
 
 93,744 
 
 34-1 
 
 1865 
 
 271.072 
 
 198,231 
 
 73-1 
 
 72,841 
 
 26-9 
 
 1866 
 
 295,290 
 
 223,084 
 
 75-5 
 
 72,206 
 
 24-5 
 
 1867 
 
 275.183 
 
 214,449 
 
 77-9 
 
 60,734 
 
 22"I 
 
 1868 
 
 294,694 
 
 227,700 
 
 77 '3 
 
 66,994 
 
 227 
 
 1869 
 
 295,460 
 
 225,044 
 
 76-2 
 
 70,416 
 
 23-8 
 
 1870 
 
 303,257 
 
 238,425 
 
 78-6 
 
 64,832 
 
 21-4 
 
 1871 
 
 331,015 
 
 258,071 
 
 78-0 
 
 72,944 
 
 22 'O 
 
 1872 
 
 354,694 
 
 275,321 
 
 77-6 
 
 79,373 
 
 22 '4 
 
 1873 
 
 371,287 
 
 290,277 
 
 78-2 
 
 81,010 
 
 21-8 
 
 1874 
 
 370,083 
 
 287,920 
 
 77-8 
 
 82,163 
 
 22 "2 
 
 1S75 
 
 373,940 
 
 289,516 
 
 77-4 
 
 84,424 
 
 22 '6 
 
 1876 
 
 375,155 
 
 290,822 
 
 77-5 
 
 84,333 
 
 22-5 
 
 1877 
 
 394,420 
 
 304,866 
 
 77-3 
 
 89,554 
 
 227 
 
 1878 
 
 368,771 
 
 290,835 
 
 78-9 
 
 77,936 
 
 21-1 
 
 1879 
 
 362,992 
 
 284,049 
 
 78-3 
 
 78,943 
 
 217 
 
 1880 
 
 411,230 
 
 318,711 
 
 77-5 
 
 92,519 
 
 22-5 
 
 1881 
 
 397,023 
 
 305-483 
 
 76-9 
 
 91,540 
 
 231 
 
 1882 
 
 413,020 
 
 313,589 
 
 75-9 
 
 99,431 
 
 24-1 
 
 1883 
 
 426,892 
 
 328,210 
 
 76-9 
 
 98,682 
 
 23-1
 
 Al'PENlJlX. 
 
 219 
 
 TABLE IV. 
 
 Statement of the Total Value of Imports and Ex/>orts oj Merchandise into and from 
 the United Kingdom, and of the Amounts and Proportion from and to Foreign 
 Countries and British Possessions, in each o/ the Years from 1856 to 1883 inclu- 
 sive ; in thousands oy/ounds, i.e. 100= 100,000. 
 
 
 
 Total Value Im 
 
 ported from, 
 
 Total Value Im 
 
 sorted from, 
 
 
 
 and E.\ported 
 
 0, Foreign 
 
 and Exported 
 
 to, British 
 
 
 Total Value of 
 
 Countries only. 
 
 Possessions only. 
 
 Years. 
 
 Imports and 
 
 
 
 
 
 
 Exports. 
 
 
 
 
 
 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 Amount. 
 
 Per Cent, 
 of Total. 
 
 
 £ 
 
 £ 
 
 
 £ 
 
 
 1856 
 
 311,765 
 
 232,042 
 
 74*4 
 
 79,723 
 
 25-6 
 
 1857 
 
 334,018 
 
 247,399 
 
 74-1 
 
 86,619 
 
 259 
 
 1858 
 
 304,367 
 
 222,540 
 
 73-1 
 
 81,827 
 
 26-9 
 
 1859 
 
 334,875 
 
 245,749 
 
 73-4 
 
 89,126 
 
 266 
 
 i860 
 
 375,052 
 
 285,559 
 
 76-1 
 
 89,493 
 
 239 
 
 1861 
 
 377,117 
 
 279,302 
 
 74-1 
 
 97,815 
 
 25-9 
 
 1862 
 
 391,885 
 
 281,178 
 
 71-8 
 
 110,707 
 
 28-2 
 
 1863 
 
 445,821 
 
 306,167 
 
 687 
 
 139,654 
 
 313 
 
 1864 
 
 487,540 
 
 338,100 
 
 69 "3 
 
 149,440 
 
 307 
 
 1865 
 
 489,904 
 
 365,516 
 
 74 "6 
 
 124,388 
 
 25-4 
 
 1866 
 
 534,196 
 
 404,822 
 
 75-8 
 
 129,374 
 
 24*2 
 
 1867 
 
 500,985 
 
 386,889 
 
 77-2 
 
 114,096 
 
 22-8 
 
 1868 
 
 522,473 
 
 401,761 
 
 76-9 
 
 120,712 
 
 23-1 
 
 1869 
 
 532,475 
 
 410,167 
 
 77-0 
 
 122,308 
 
 23-0 
 
 1870 
 
 547,337 
 
 427,114 
 
 78-0 
 
 120,223 
 
 22 "O 
 
 1871 
 
 614,590 
 
 486,085 
 
 79-1 
 
 128,505 
 
 20-9 
 
 1872 
 
 669,283 
 
 524,301 
 
 78-3 
 
 144,982 
 
 217 
 
 1873 
 
 682,292 
 
 530,134 
 
 777 
 
 152,158 
 
 22"3 
 
 1874 
 
 667,733 
 
 507,660 
 
 76-0 
 
 160,073 
 
 24*0 
 
 1875 
 
 655,552 
 
 494,473 
 
 75 '4 
 
 161,079 
 
 24*6 
 
 1876 
 
 631,932 
 
 477,449 
 
 75'6 
 
 154,483 
 
 24-4 
 
 1877 
 
 646,766 
 
 481,460 
 
 74"4 
 
 165,306 
 
 25-6 
 
 1878 
 
 614,25s 
 
 464,326 
 
 75 '6 
 
 149,929 
 
 24-4 
 
 1879 
 
 611,775 
 
 466,323 
 
 76-2 
 
 145,452 
 
 23-8 
 
 1880 
 
 697,645 
 
 523,598 
 
 75-1 
 
 174,047 
 
 24 '9 
 
 1881 
 
 694,106 
 
 515,885 
 
 74-3 
 
 178,221 
 
 257 
 
 1882 
 
 719,681 
 
 527,912 
 
 73-3 
 
 191.769 
 
 267 
 
 1883 
 
 732,329 
 
 543,246 
 
 74-2 
 
 189,083 
 
 25-8
 
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 o- 
 
 
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 ■■"•:•: •^"b 
 
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 S3 ^ ^ t ^ "- 
 
 ^ r^ in t^ <^-o 
 
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 so' Os cC rC c^ 
 
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 inso" ^ 4 in 
 
 so" 
 
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 so'sO-^" 
 
 
 
 'P 
 
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 ■■?' 
 
 CO 'in ON b CO 
 
 °l 
 
 PI _r^ ci .ro p 
 b bsVini) 
 
 M 
 
 1- ro 
 
 b 
 
 < 
 
 Tfso N ro in 
 
 in rrso t^ 
 
 ■ jCO inco 
 ^so H rn N OS 
 
 ^ ■* -1- 1- -^ 
 
 
 
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 „' 4 „' r?, cS 
 
 SO in t^ r^so 
 
 Os 
 
 
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 00 «^ ON *o 
 
 
 
 so t^CO OS ,, 
 so so so so r^ 
 
 3 
 
 3 
 
 5 M N m -*• m, 
 w t^ t^ r^ t^ t^ 
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 5 
 
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 2 
 
 
 1' 2
 
 228 
 
 APPENDIX. 
 
 
 S » o- 
 a «i o 
 
 i^^J II 
 
 «1o 
 
 § I s 
 
 ^ ^ s 
 « *i a 
 
 5; t^ ^ 
 
 
 S •S.^X 
 
 tS^ « o 
 
 8 .,-"1 t 
 
 S;~ § PQ 
 
 •S5 5 
 
 Total Imports 
 
 i'rom horek.n 
 
 Countries and 
 
 British 
 
 Possessions. 
 
 
 88888 
 
 8 
 
 88888 
 
 8 
 
 88888 
 
 8 
 
 888 
 
 8 
 
 c 
 
 i 
 < 
 
 O ro -J- t^ 
 ^ S tC o^ S ? 
 
 
 in * h« m 
 
 3 vo N " 5 
 
 w" .*; M~ o" r^ 
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 tH T^ t>. ON c< 
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 S 
 
 M >-- 
 
 vi 
 
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 o^ m H .«j- 
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 •a- 
 
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 m -f NO m ON 
 en m On ON in 
 -f cS rCco cT 
 
 00 CO C^ rv On 
 
 •^ 
 
 M ^ 
 
 u-i .a-NO_ 
 
 On 0> On 
 
 M- 
 
 OTHER 
 
 British 
 Possessions. 
 
 < 
 
 v! C^ •?? 
 
 ^ 
 
 U-J M M ^t^ M 
 
 _o- 
 
 CO rn in r.^ .c^ 
 
 C 
 
 .-1- .1^ in 
 
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 vo oo o- i^ m 
 
 ^^ o; °; ". "0 ^ 
 
 ^ r^o 03 CO 00 
 
 o 
 
 o" 
 
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 co' o" «" o" m" 
 
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 in M OnoO On 
 
 O' rn C? 0~ -" 
 
 m « m On 
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 NO 
 
 Q 
 
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 0,2 
 < 
 
 •< 
 
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 b 
 
 p\ M _(N _n 
 
 b H M M M 
 
 " 
 
 M _M _N m_t 
 
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 t^ l^ r^ t^ t^oo 
 
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 VO 
 
 in M w cy* t^ 
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 cT ro ^ 'f ^ 
 
 rr, 
 
 <n in M ON 
 
 M N mNO NO 
 
 ^ -f 'f 4 in 
 
 1 
 
 M 1^ On 
 
 inNo" in 
 
 
 British India. 
 
 ^^ 
 
 N 'o\ b w oo 
 
 b 
 
 a\ b^00 oo CO 
 
 ^ 
 
 oD c^ *tvND *r^ 
 
 •;c 
 
 N NO .M 
 
 CO On 'o- 
 
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 ^^ s* ?o s ^ 
 
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 moo On o\ m 
 
 f^VO CO M H. 
 
 ?o m S" To ?^ 
 
 1 
 
 cT m" tC .^ o' 
 
 NO 
 
 ON H m 
 
 NO ONOD 
 
 rT cfoo" 
 
 rf- 
 
 Australia 
 AND New- 
 Zealand. 
 
 1 
 
 ^ g^ 
 
 a\ r^ ro M \o 
 
 m 
 
 _-*• _"l-'p p >n 
 V V V 'm 'm 
 
 00 
 
 ON.m t^ H c) 
 'm in ini) i) 
 
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 5 
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 NO 
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 m" m" o" - in 
 
 
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 no" in in 
 
 
 
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 „ coco...^
 
 APPENDIX. 
 
 229 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 u 
 
 jj CO p a> M 
 
 
 
 " n On 
 
 - 
 
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 CO 
 
 m m ■«• 
 
 
 
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 a\vo m 'i- m 
 
 in 
 
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 10 
 
 in m iTi IT) U-) 
 
 in 
 
 
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 u .'^ .^ .^ y^ p^ 
 
 
 
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 N 
 
 NO eo N 
 
 m 
 
 
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 On 
 
 CT. ONOO 00 00 
 
 00 
 
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 r^ t^oo 
 
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 r<1 •<- m 
 
 
 
 
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 1866 
 1867 
 1868 
 1869 
 1870 
 
 For the 
 ive Year 
 
 t^ (^ t>v r^ t^ ^^ 
 
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 00 00 00 00 CO 
 
 
 
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 APPENDIX. 
 
 
 
 ^ 
 
 
 
 
 
 
 
 
 
 1 £ 
 
 §88888 
 
 8 
 
 88888 
 
 8 
 
 88888 
 
 8 
 
 O 
 
 2 2 2 
 
 8 
 
 
 CH 
 
 (2 
 
 
 
 
 
 
 
 
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 1 
 
 
 
 
 
 
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 p 
 
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 ti 
 
 
 
 
 
 
 
 
 
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 p 
 
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 vo t^CO O Si ? 
 VOVO vo O t^ -5 J^ 
 
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 vo C^CO o o ?i S? 
 r^ t-^ r^ r^oo -g « 
 
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 1
 
 APPENDIX. 
 
 231 
 
 TABLE VIII. 
 
 Statement showing the Value of Iin,'>orts of Merchandise into Gcrinxny Jrom the under- 
 mentioned Co2intries, and of Exports thereof from Germany to the same Countries in 
 the Years 1868 to 1877, made up from the Statistics of the different Countries named 
 (in the absence of official German statistics) by treating; the Exports from them to 
 Germany as Imports int^ Germany, and t!ie Imports from Germany into them as Exports 
 from Germany ; in thousands of Francs and Pounds sterling— i.e., 100 = 100,000. 
 
 
 Imports i.nto Ger.manv fro.m 
 
 Excess of 
 
 IMPORTS. 
 
 Ye.nrs. 
 
 
 
 Gt. Brit.-»in 
 
 Switzer- 
 land. 
 
 
 United 
 
 Total of 
 
 In Thou- 
 
 In Thou- 
 
 
 France. 
 
 Belgium. 
 
 and British 
 India. 
 
 Italy. 
 
 States.* 
 t 
 
 Enumerated 
 
 sands of 
 
 sands of 
 Pounds 
 
 
 
 
 
 
 
 
 
 
 Sterhnff. 
 
 
 F. 
 
 F. 
 
 F. 
 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 £ 
 
 1868 
 
 215,000 
 
 107,647 
 
 808,654 
 
 
 5.316 
 
 110,099 
 
 1,246,716 
 
 290,160 
 
 11,606 
 
 1869 
 
 305,000 
 
 121,276 
 
 803,716 
 
 d 
 
 3,022 
 
 139.133 
 
 1,372,147 
 
 399,488 
 
 15,979 
 
 1870 
 
 104,000 
 
 138,535 
 
 708,014 
 
 % 
 
 4.774 
 
 174,390 
 
 1,129,713 
 
 365,617 
 
 14,624 
 
 1S71 
 
 199,000 
 
 209,085 
 
 971,234 
 
 To 
 
 8,171 
 
 158,079 
 
 1.545,569 
 
 529.397 
 
 ^1,176 
 
 1872 
 
 410,000 
 
 240,277 
 
 1,083,667 
 
 .s 
 
 7,600 
 
 185,101 
 
 1,926,645 
 
 662,755 
 
 26,510 
 
 1S73 
 
 463,000 
 
 266,064 
 
 919.239 
 
 
 13.815 
 
 271,864 
 
 1,933,982 
 
 609,705 
 
 24,388 
 
 1S74 
 
 414,000 
 
 243,120 
 
 883,241 
 
 
 18,569 
 
 286,315 
 
 1,845,245 
 
 607,896 
 
 24,316 
 
 1875 
 
 427,000 
 
 244,272 
 
 856,539 
 
 B 
 
 23.634 
 
 226,558 
 
 1,778,003 
 
 464,312 
 
 18,572 
 
 1876 
 
 431,000 
 
 244,322 
 
 748,336 
 
 6 
 
 20,599 
 
 224,247 
 
 1,668,504 
 
 331,881 
 
 13,275 
 
 1S77 
 
 395,000 
 
 222,767 
 
 732,028 
 
 
 16,615 
 
 276,639 
 
 1,643,049 
 
 203,647 
 
 8,146 
 
 
 
 
 E.\PORTS 
 
 FKOM GER.MANY T 
 
 ) 
 
 
 E.XCFSS OF 
 
 
 
 
 
 
 
 
 Tot.iI of 
 
 E.XPORTS. 
 
 Years. 
 
 
 
 Gt. Britain 
 
 
 
 United 
 
 In Thou- 
 
 In Th->u. 
 
 
 France. 
 
 Belgium. 
 
 and British 
 
 land 
 
 Italy. 
 
 States. 
 
 Enumerated 
 
 sands of 
 
 sands of 
 
 
 
 
 India. 
 
 
 
 t 
 
 Countries. 
 
 Francs. 
 
 Pounds 
 Sterling. 
 
 
 F. 
 
 F. 
 
 r. 
 
 
 F 
 
 F. 
 
 F. 
 
 F. 
 
 £ 
 
 1868 
 
 266,000 
 
 111,549 
 
 454,614 
 
 
 8,028 
 
 116,365 
 
 956,556 
 
 
 
 
 1869 
 
 256,000 
 
 u6, i6o 
 
 459,930 
 
 c 
 
 10,107 
 
 130,462 
 
 972,659 
 
 — 
 
 
 
 1870 
 
 103,000 
 
 121,688 
 
 386,013 
 
 > 
 
 12,917 
 
 140,478 
 
 764,096 
 
 — 
 
 
 
 1871 
 
 160,000 
 
 230,244 
 
 482,421 
 
 M 
 
 13,019 
 
 130,488 
 
 1,016,172 
 
 — 
 
 
 
 1872 
 
 358,000 
 
 168,554 
 
 481,984 
 
 u 
 
 14,884 
 
 240,468 
 
 1,263,890 
 
 — 
 
 
 
 1873 
 
 311,000 
 
 171.530 
 
 498,747 
 
 
 23,710 
 
 319,290 
 
 1.324.277 
 
 — 
 
 
 
 1874 
 
 315,000 
 
 166,852 
 
 499,266 
 
 
 27.899 
 
 228,332 
 
 1.237,349 
 
 — 
 
 
 
 1875 
 
 349,000 
 
 171.597 
 
 546,498 
 
 B 
 
 37.312 
 
 209,284 
 
 1,313,691 
 
 — 
 
 
 
 1876 
 
 389,000 
 
 195,763 
 
 528,107 
 
 U 
 
 40,089 
 
 183,664 
 
 1,336,623 
 
 — 
 
 
 
 1877 
 
 373,000 
 
 214,767 
 
 657,387 
 
 
 25,202 
 
 169,046 
 
 1,439,402 
 
 — 
 
 — 
 
 '' The values of the United States exports to Germany Iiave been reduced from currency 
 to specie values. 
 
 t The returns for the United States are for ywrs ending 30th June,
 
 232 
 
 APPENDIX. 
 
 TABLE IX. 
 
 Siatciiicnt shmving the Total Value of Merchandise Imported into, and Exported from, 
 France, in the Years 1868 to 1877, according to the French official Returns; in 
 thousands of francs, i.e., 100 = 100,000. 
 
 Note.— The figures are those of the French "Special" Trade, viz., Imports for 
 Domestic Use and Manufacture, and Exports of Domestic Produce and Manufacture. 
 
 Years. 
 
 Total Imports. 
 
 Total E.xports. 
 
 E.xcess of Imports. 
 In Thousands of 
 Francs and Thou- 
 sands of ;£ sterling. 
 
 Excess of Exports. 
 In Thousands of 
 Francs and Thou- 
 sands of £, sterling. 
 
 1868 
 
 F.-ancs. 
 3,303.700 
 
 Francs. 
 2,789,900 
 
 (F.513,800) 
 
 \£ 20,552) 
 
 — 
 
 1869 
 
 3.153,100 
 
 3,074,900 
 
 (F. 78,200) 
 
 \£ 3.128; 
 
 — 
 
 1870 
 
 2,781,400 
 
 2,802,100 
 
 — 
 
 f F. 20,700) 
 
 \£ 828 ; 
 
 1871 
 
 3,566,700 
 
 2,872,500 
 
 ( F. 694, 200 ) 
 
 \£ 27,768 f 
 
 
 
 1S72 
 
 3.570,300 
 
 3,761,600 
 
 — 
 
 (F. 191,300) 
 
 t;^ 7.652) 
 
 1S73 
 
 3.554,800 
 
 3.787.300 
 
 — 
 
 f F. 232, 500) 
 
 \£ 9,300) 
 
 1874 
 
 3.507,700 
 
 3,701,100 
 
 — 
 
 fF. 193,400) 
 t;^ 7,736) 
 
 1875 
 
 3,536,700 
 
 3,872,600 
 
 — 
 
 ir.33S.900) 
 t;^ 13.436) 
 
 1876 
 
 3,988,400 
 
 3.575,600 
 
 ( F.412,800) 
 \£ 16,5121 
 
 — 
 
 1877 
 
 3,669,800 
 
 3.436,300 
 
 fF.233,5001 
 I L 9,340 ) 

 
 APPENDIX. 
 
 233 
 
 TABLE X. 
 
 statement showing the I'alite of Imports of Mercltcindise into France from the under- 
 mentioned Countries, and lixf'orti thereof from France to tlie same Countries, according 
 to the French official Returns, in the i'ears 1868 to 1877, covering tlie period of tlic 
 payment of the hidemnity to Gcrmatty ; in thousands of francs, \.&., ico = 100,000. 
 
 
 
 
 
 IMPORTS. 
 
 
 
 
 EXCESS OF 
 IMPURTS. 
 
 Years. 
 
 Geiminy. 
 
 Belgiuoi. 
 
 Gt Fritaiii 
 
 and British 
 
 India. 
 
 Switzer- 
 land. 
 
 Italy. 
 
 United 
 States. 
 
 Tolal of 
 Enumerated 
 Countries. 
 
 In Thou- 
 sinds of 
 Francs. 
 
 In Thou- 
 sind' of 
 Pounds 
 sterling. 
 
 
 F. 
 
 r. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 £ 
 
 1868 
 
 266,000 
 
 354,000 
 
 679,000 
 
 141,000 
 
 327,000 
 
 156,000 
 
 1,923,000 
 
 - 
 
 - 
 
 1869 
 
 256,000 
 
 316,000 
 
 687,000 
 
 133,000 
 
 321,000 
 
 174,000 
 
 1,887,000 
 
 _ 
 
 - 
 
 1870 
 
 103,000 
 
 272,000 
 
 646,000 
 
 102,000 
 
 235,000 
 
 218,000 
 
 1,576,000 
 
 - 
 
 - 
 
 1871 
 
 160,000 
 
 476,000 
 
 920,000 
 
 105,000 
 
 441,000 
 
 190,000 
 
 2,292,000 
 
 189,000 
 
 7.560 
 
 1872 
 
 358,000 
 
 440,000 
 
 764,000 
 
 97,000 
 
 375,000 
 
 205,000 
 
 2,239,000 
 
 - 
 
 - 
 
 1873 
 
 311,000 
 
 475,000 
 
 673,000 
 
 92,000 
 
 346,000 
 
 199,000 
 
 2,096,000 
 
 -- 
 
 
 1874 
 
 315,000 
 
 409,000 
 
 697,000 
 
 96,000 
 
 289,000 
 
 241,000 
 
 2,047,000 
 
 ~ 
 
 - 
 
 187s 
 
 349.000 
 
 439,000 
 
 753,000 
 
 94,000 
 
 322,000 
 
 190,000 
 
 2,147,000 
 
 
 - 
 
 1876 
 
 389,000 
 
 404,000 
 
 789,000 
 
 110,000 
 
 415,000 
 
 265,000 
 
 2,372,000 
 
 - 
 
 - 
 
 1877 
 
 373,000 1 409,000 
 
 724,000 
 
 96,000 
 
 342,000 
 
 258,000 
 
 2,202,000 
 
 — 
 
 — 
 
 
 
 
 
 E.XPORTS. 
 
 
 
 
 E.XCESS OF 
 EXPORTS. 
 
 Years. 
 
 Gcrnnny. 
 
 lielsium. 
 
 Gt. Britain 
 
 and British 
 
 India. 
 
 Switzer- 
 land. 
 
 Italy. 
 
 United 
 States. 
 
 Total of 
 
 Enumerated 
 Countries. 
 
 In Thou- 
 sands of 
 Francs. 
 
 In Thou- 
 sands of 
 Pounds 
 sttrlii g. 
 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 F. 
 
 £ 
 
 1868 
 
 215,000 
 
 272,000 
 
 882,000 
 
 263,000 
 
 171,000 
 
 126,000 
 
 1,929,000 
 
 6,000 
 
 240 
 
 1S69 
 
 305,000 
 
 295,000 
 
 914,000 
 
 261,000 
 
 230,000 
 
 193,000 
 
 2,198,000 
 
 311,000 
 
 12,440 
 
 1870 
 
 104,000 
 
 311,000 
 
 849,000 
 
 263,000 
 
 201,000 
 
 307,000 
 
 2,035,000 
 
 459,000 
 
 18,360 
 
 1871 
 
 199,000 
 
 410,000 
 
 823,000 
 
 205,000 
 
 153,000 
 
 313,000 
 
 2,103,000 
 
 - 
 
 - 
 
 1872 
 
 410,000 
 
 479,000 
 
 937,000 
 
 294,000 
 
 229,000 
 
 333.000 
 
 2,682,000 
 
 443.000 
 
 17,720 
 
 1873 
 
 463,000 
 
 470,000 
 
 926,000 
 
 337,000 
 
 230,000 
 
 291,000 
 
 2,717,000 
 
 621,000 
 
 24,840 
 
 1874 
 
 414,000 
 
 524,000 
 
 992,000 
 
 300,000 
 
 204,000 
 
 296,000 
 
 2,730,000 
 
 683,000 
 
 27,320 
 
 1875 
 
 427,000 
 
 527,000 
 
 1,075,000 
 
 315,000 
 
 219,000 
 
 264,000 
 
 2,827,000 
 
 680,000 
 
 27,200 
 
 1876 
 
 431,000 
 
 446,000 
 
 1,036,000 
 
 j 279,000 
 
 216,000 
 
 230,000 
 
 2,638,000 
 
 266,000 
 
 10,640 
 
 1877 
 
 395,000 
 
 446,000 
 
 1,067,000 
 
 237,000 
 
 1 
 
 185,000 
 
 217,000 
 
 2,547,000 
 
 345.000 
 
 13,800
 
 APPENDIX, 
 
 TABLE XI. 
 
 Statement shmving the Value of the hitports of Merchandise and Treasure, on Private 
 and Government Account, into British India from the United Kingdom, and 
 Value of the Exports of the sajjie,from British India to the United Kingdom, in 
 the Years ended yist March, 1871 to 1880 ; compiled from the official Statistics of 
 the Indian Government ; in thousands of pounds, i.e., 100 = 100,000. 
 
 
 
 
 Excess of 
 
 Years ended 
 
 Imports. 
 
 Exports. 
 
 
 31st March. 
 
 Imports. 
 
 Exports. 
 
 1871 
 
 £ 
 29-905 
 
 £ 
 32,084 
 
 £ 
 
 £ 
 2,179 
 
 1S72 
 
 33.739 
 
 33,021 
 
 718 
 
 — 
 
 1873 
 
 28,887 
 
 28,667 
 
 220 
 
 — 
 
 1874 
 
 30,888 
 
 28,832 
 
 2,056 
 
 — 
 
 1S75 
 
 35,494 
 
 27,972 
 
 7,522 
 
 — 
 
 1876 
 
 34>5i9 
 
 28,371 
 
 6,148 
 
 — 
 
 1877 
 
 39,555 
 
 29,315 
 
 10,240 
 
 — 
 
 1878 
 
 47,198 
 
 30,804 
 
 16,394 
 
 — 
 
 1879 
 
 33,140 
 
 28,400 
 
 4,740 
 
 — 
 
 1880 
 
 38,440 
 
 27,781 
 
 10,659 
 
 — 
 
 Total for the 
 10 Years. 
 
 1 351,765 
 
 295,247 
 
 56,518 
 
 -
 
 APPENDIX. 
 
 235 
 
 TABLE XII. 
 
 Statement shtnu'tng the Value nf the Imfiorts 0/ Mcixhandisc and Tirasin-r, on Private 
 and Government Account, into Brilisk India, from the undermentioned Coun- 
 tries ; and the Value of the Exports of the same from British India to the same 
 Countries, in the Years ended jist March, 1871 to 1880; compiled from the official 
 Statistics of the In^iian Gmemmcnt ; in thousands of pounds, i.e., 100 = 100,000. 
 
 Note. — The figures for tlie Year-s 1871-75 in the case of the United States are esti- 
 mates ; and for 1871 in the case of Austria and Italy are also estimates. 
 
 Imports. \i ^_ 
 
 Ycnrs 
 
 
 
 
 United 
 
 China and 
 
 
 To-.-ii of 
 
 Excess of 
 
 31st 
 March. 
 
 
 
 It.lly. 
 
 States. 
 
 lIongKongf. 
 
 
 Coui. tries. 
 
 Iinptrts. 
 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 187I 
 
 423 
 
 67 
 
 66 
 
 66 
 
 4,290 
 
 1,035 
 
 5,947 
 
 — 
 
 1872 
 
 555 
 
 122 
 
 «i5 
 
 IZ 
 
 4,014 
 
 i,o8S 
 
 5,967 
 
 — 
 
 1873 
 
 378 
 
 127 
 
 147 
 
 62 
 
 2,377 
 
 903 
 
 3.994 
 
 — 
 
 1S74 
 
 3b2 
 
 93 
 
 339 
 
 98 
 
 3,141 
 
 909 
 
 4.942 
 
 -- 
 
 1875 
 
 413 
 
 96 
 
 280 
 
 193 
 
 2,957 
 
 941 
 
 4,880 
 
 — 
 
 1876 
 
 678 
 
 118 
 
 527 
 
 201 
 
 2,901 
 
 966 
 
 5,391 
 
 — 
 
 1877 
 
 592 
 
 120 
 
 1,366 
 
 172 
 
 2,127 
 
 987 
 
 5,364 
 
 — 
 
 1878 
 
 571 
 
 120 
 
 435 
 
 280 
 
 4,031 
 
 797 
 
 6,234 
 
 — 
 
 1S79 
 
 454 
 
 122 
 
 393 
 
 349 
 
 4,039 
 
 907 
 
 6,264 
 
 — 
 
 1880 
 
 588 
 
 156 
 
 785 
 
 526 
 
 5,587 
 
 1,091 
 
 'i>,lZl> 
 
 
 Total 
 
 for the 
 
 10 Years. 
 
 5>oi4 
 
 1,141 
 
 4,453 
 
 2,020 
 
 35.464 
 
 9,624 
 
 57,716 
 
 — 
 
 Years 
 ended 
 
 31st 
 March. 
 
 riMiu-c. 
 
 Austri.-l. 
 
 Italy. 
 
 £ 
 
 L'nitcd 
 .Stites. 
 
 Cliina and 
 Hong Kong. 
 
 Ceylon. 
 
 Total U 
 ennnieratec 
 Countries. 
 
 K.vcess of 
 lixports. 
 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 187I 
 
 2,013 
 
 600 
 
 700 
 
 2,232 
 
 12,333 
 
 1,620 
 
 19,498 
 
 13-551 
 
 1872 
 
 4,175 
 
 1,057 
 
 1,134 
 
 2,079 
 
 13.944 
 
 2,082 
 
 24.471 
 
 18,504 
 
 1873 
 
 2,673 
 
 1,100 
 
 954 
 
 1,821 
 
 12,259 
 
 2,314 
 
 21,121 
 
 17,127 
 
 1874 
 
 3,134 
 
 939 
 
 1,320 
 
 1,643 
 
 11,507 
 
 2,823 
 
 21,366 
 
 16,424 
 
 1875 
 
 4,449 
 
 1,321 
 
 1,112 
 
 1,886 
 
 11,751 
 
 2,497 
 
 23,016 
 
 18,136 
 
 1876 
 
 4,603 
 
 1,410 
 
 1,224 
 
 1,778 
 
 11,520 
 
 2,695 
 
 23,230 
 
 17,839 
 
 1877 
 
 5,437 
 
 1,428 
 
 1,410 
 
 1,896 
 
 13,442 
 
 3,396 
 
 27,009 
 
 21,645 
 
 1878 
 
 6,026 
 
 1,466 
 
 1,870 
 
 1,933 
 
 12,791 
 
 2,840 
 
 26,926 
 
 20,692 
 
 1879 
 
 3,947 
 
 1,395 
 
 1,673 
 
 2,038 
 
 13,677 
 
 3.7S7 
 
 26,517 
 
 20,253 
 
 1880 
 
 4,870 
 
 1,860 
 
 2,215 
 
 3.286 
 
 15,732 
 
 2,696 
 
 30,659 
 
 21,926 
 
 Total 
 
 
 
 
 
 
 
 
 
 for the 
 
 41,327 
 
 12,576 
 
 13,612 
 
 20,592 
 
 128,956 
 
 26,750 
 
 243,813 
 
 186,097
 
 236 
 
 APPENDIX. 
 
 TABLE 
 
 Return of the Rates of I»tj>ort duty levied in tlu principal European Countries, in the United 
 Articles of British Produce or Manitfactnre : taken from the Parliamentary Returns, Nos. 
 alterations. 
 
 FOREIGN COUNTRIES. 
 
 Gem any. Holland. Belgium 
 
 Cotton Yarn (single 
 unbleached) : 
 Up to No. 12. 
 Above 12 to 17 
 .. 17 
 
 (un 
 
 ,. 23 . 
 >> 30 . 
 
 » 35 , 
 !> 45 . 
 )i 47 > 
 „ 60 , 
 ). 70 , 
 ). 77 ) 
 )> 79 
 Cotton Cloth 
 bleached) : 
 Weighing 13 kilo 
 grammes and 
 above per 100 sq 
 mfetres : 
 Of 27 threads or 
 less per 5 sq. 
 millimetres 
 Of 28 to 35 thds. 
 Of 36 ,,38 „ 
 Over 38 „ 
 Weighing from 11 
 to 13 kilogs. ex 
 elusive per 100 
 sq. mfetres : 
 Of 27 threads or 
 less .... 
 Of 28 to 35 thds. 
 Of 36 ,,38 „ 
 Over 38 „ 
 Weighing from 7 
 to II kilogs. ex 
 elusive per 100 
 sq. metres . 
 
 Weighing less 
 than 7 kilogs 
 per 100 sq. metres 
 
 Linen Yarn (sin 
 unbleached) : 
 UptoNo.5(Eng) 
 5 to 
 
 21 .> 35 ■ 
 36 „ 40 . 
 41 „ 60 . 
 61 ,, 119 . 
 Above 119. 
 
 i s. d. 
 Per cwt. 
 
 !• Free-; 
 
 5% 
 adval. 
 
 ;6s. d. 
 
 Per cwt. 
 
 -061 
 
 -082 
 
 ,-0 12 2 
 
 o 16 3 
 jo 4 o:i 
 
 104 
 I 12 6 
 
 Free. 
 
 From 
 
 I 4 5 
 
 to 
 
 4 I 3 
 
 From 
 
 I 12 6 
 
 Free. 
 
 i, s. d. 
 Per cwt. 
 
 o 16 3 
 
 From 
 
 104 
 
 104 
 I 12 6 
 
 104 
 
 I 12 6 
 
 From 
 
 I 4 5 
 
 to 
 
 4 I 3 
 
 From 
 
 I 12 6 
 
 Italy. 
 
 £ s. d. 
 Per cwt. 
 
 \o 8 II 
 
 j-o 10 7 
 
 \o 13 o 
 
 ' o 15 10 
 
 o 19 6 
 
 14 8 
 
 1 4 5 
 
 li 6 o I 
 
 > I 10 6 
 
 From 
 I 6 10 
 
 to 
 I 10 6 
 
 From 
 I 12 6 
 
 C s. d. 
 Per cwt. 
 
 061 
 082 
 
 £ s. d. 
 Per cwt. 
 
 -and 20% 
 ad val. 
 
 z 10 10 
 as above 
 
 Exceed- 
 ing 5 oz. 
 to the 
 sq. yard : 
 2jd. per 
 sq. yard 
 or 3d. per 
 sq. yard, 
 accord- 
 ing to 
 quality. 
 
 Other 
 unblea- 
 ched 
 cotton 
 tissues 
 35 % ad 
 val. 
 
 40% 
 ad val.
 
 APPENDIX. 
 
 237 
 
 XIII. 
 
 stales, and in the principal Colonial Possessions 0/ the United Kingdom, on the underntenlioned 
 20D and 2i8 0/ 1879, and 333 of 1881. // has not been found practicable to insert more recent 
 
 COLONIAL POSSESSIONS OF THE UNITED KINGDOM. 
 
 New South 
 Wales. 
 
 £. s. d. 
 JPer cwt. 
 
 £ s. d. 
 Per cwt. 
 
 Free. 
 
 South 
 Australia. 
 
 £ s. d. 
 
 Per cwt. 
 
 Free. 
 
 f I2i% 
 
 ( ad val. 
 
 ad val. 
 
 ( ad val. 
 
 10% ) 
 ad V..1. f 
 
 ad val. 
 
 10% I 
 ad val. ) 
 
 Nf, iQueenstand. 
 
 £s. d. 
 Per cwt. 
 
 Free by 
 Law of 
 24 Sept. 
 
 °{ 
 
 5% 
 ad val. 
 
 5% 
 ad va 
 
 5%, 
 ad val. 
 
 ^al. j 
 
 Cape of 
 Good Hope. 
 
 £s. d. 
 Per cwt. 
 
 Under 40's 
 
 9 4 
 and i5%ad 
 val. Other, 
 2o%adva). 
 
 sq. yard, 
 id. to id. 
 and 15% ad 
 val. 
 
 20 % 
 ad val. 
 
 I 10% 
 I ad val. 
 
 10% 
 ad val. 
 
 to% 
 ad val.
 
 23b APPENDIX. 
 
 TABLE XIII. 
 
 Return of the Rates of I)ilJ>ort Duty la'ied in the f>rincipal European Countries, in i/te United 
 
 A iticles of British 
 
 Ai tides. 
 
 
 
 
 FOREIGN COUNTRIES {lOiitinuedj. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Ge 
 
 rmany. 
 
 Holland. 
 
 Belgium. 
 
 France. 
 
 Italy. 
 
 Austria. 
 
 United 
 Stales. 
 
 
 £ 
 
 s. d. 
 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 T 
 
 s. 
 
 d. 
 
 £ s. d. 
 
 Linen Cloth (un- 
 
 Per cwt. 
 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 bleached) : 
 
 
 
 
 
 
 
 
 
 
 
 5 threads or less per 
 
 1 
 
 
 
 
 
 fo 4 loj) 
 
 
 
 
 
 5 millimetres . . 
 
 
 
 
 
 fo 2 0^ 
 
 ] to \ 
 
 
 
 2 
 
 ol 
 
 ^ 
 
 6 to 8 threads . . 
 
 
 
 ( Sail- 
 
 \ 
 
 II 5 ^ 
 
 1 2 4 
 
 V.O 9 5 ) / 
 
 \ 
 
 
 
 
 9 „ II „ . . 
 
 From 
 
 cloth 
 
 
 
 
 
 
 From 
 
 12 „ . . 
 
 -° 
 
 3 o| 
 
 J free. 
 
 . 10% 
 
 1 6 5 
 
 
 L 
 
 
 
 35% 
 to 
 
 13 ., 14 n • . 
 
 to 
 
 Other 
 
 ad val. 
 
 ■' I 16 7 
 
 .136 
 
 
 12 
 
 2 
 
 15 >, 17 ,, ■ . 
 
 I 
 
 10 6 
 
 5 % ad 
 
 
 2 6 9 
 
 
 
 
 40% 
 
 18 ,, 20 ,, 
 
 
 
 \ val. 
 
 J 
 
 3 9 I 
 
 
 J 
 
 
 
 ad val. 
 
 21 ,, 23 ,, . . 
 
 
 
 
 
 558 
 
 
 ) 
 
 
 
 
 24 thrds, and above 
 
 / 
 
 
 
 
 V6 I II ; 
 
 
 )■♦ 
 
 I 
 
 3 
 
 ; 
 
 Woollen Yarns (single 
 
 
 
 
 
 
 
 
 
 
 
 unbleached) : 
 
 
 
 
 
 
 
 
 
 
 
 Measuring to the 
 
 
 
 
 
 
 
 
 
 
 
 kilogramme less 
 
 
 
 
 
 
 
 
 
 
 
 than3o,5oometres 
 
 ■\ 
 
 
 
 
 /o 10 2 ^ 
 
 
 
 
 
 
 30,500 to 40,500 ,, 
 
 
 
 
 
 
 
 
 
 , 
 
 40,500 ,, 50,500 ,, 
 
 
 
 
 
 14 3 
 
 
 
 
 
 From 
 
 50,500 ,, 60,500 ,, 
 
 
 
 
 
 18 3 
 
 - I 4 j 
 
 
 
 61 
 
 4 n 4 
 
 60,500 ,, 70,500 ,, 
 70,500 ,, 80,500 ,, 
 80,500 ,, 90,500 ,, 
 
 ■0 
 
 4 o| 
 
 Free. 
 
 082 
 
 I 2 4 
 
 ■165 
 
 I 10 6 
 
 
 
 
 
 I 
 
 to 
 8 
 
 to 
 and 35 % 
 
 90,500 ,, 100,500 ,, 
 
 
 
 
 
 I 14 7 
 I 18 7 
 
 V2 8 y 
 
 
 
 
 
 ad val. 
 
 100,500 metres and 
 
 
 
 
 
 
 
 
 
 \ 
 
 above .... 
 
 J 
 
 
 
 
 
 
 
 
 
 Woollen Cloth (un- 
 
 
 
 
 
 
 
 
 
 
 
 printed) : 
 
 
 
 
 
 
 
 
 
 
 
 With cotton warp : 
 
 
 
 
 
 
 
 
 
 
 
 Above 600 grms. 
 
 \ 
 
 
 
 
 
 { ■ 
 
 
 
 
 
 per sq. metre. . 
 
 
 
 
 
 \ f 
 
 2 
 
 
 
 8 
 
 ■^ All 
 
 300 to 600 grms. 
 
 
 
 
 
 
 
 
 
 cloths 
 
 per sq. metre . . 
 
 
 
 
 
 
 ,-2 S -> 
 J I 
 
 2 
 
 10 
 
 10 
 
 weigh- 
 
 Less , than 300 
 
 
 
 
 
 
 
 
 
 ing 4 oz. 
 
 grms. per sq. metre 
 
 
 
 ( 5% 
 I ad val. 
 
 
 
 4 
 
 ^ 
 
 3 
 
 and 
 
 Other kinds : 
 Above 600 grms. 
 
 -3 
 
 8 7 
 
 10 ^ 
 ad \'al. 
 
 TO% 
 
 ad val. 
 
 
 
 
 8 
 
 ' above, 
 per sq. 
 
 per .sq. metre . . 
 
 
 
 
 
 
 ^ f 
 
 - 
 
 
 
 yard. 
 
 450 to 600 grms. 
 
 
 
 
 
 
 
 
 
 
 II 13 4 
 
 per sq. metre. . 
 
 
 
 
 
 
 / \ 
 
 3 
 
 
 
 II 
 
 and 35 % 
 
 Less than 450 
 
 
 
 
 
 
 
 
 
 1 ad val. 
 
 grms.persq.metre 
 
 / 
 
 
 
 
 
 4 
 
 I 
 
 3 
 
 Porcelain : 
 White 
 
 
 
 7 I 
 
 i 5% 
 (. ad val. 
 
 10 % 
 ad val. 
 
 10% 
 ad val. 
 
 4 lOj 
 
 
 
 5 
 
 I 
 
 .( 45%, 
 ( ad val. 
 
 Glass and Glasswares: 
 
 
 
 
 4j 
 
 
 100 bottles. 
 
 
 
 
 f oe y 
 
 Common bottles . 
 
 
 
 I 6} 
 
 \ 
 
 61 
 
 2 4I 
 
 
 
 I 
 
 61 
 
 \ ad val. 
 
 W'indow glass: 
 
 (° 
 
 3 o?i 
 
 
 10% 
 
 ) 
 
 Per cwt. 
 
 
 
 
 (070 
 (. 14 
 
 Common . . . 
 
 (0 
 
 to 
 5 I 
 
 
 ail val. 
 
 r ' 5 
 
 033 
 
 
 
 4 
 
 Oj 
 
 
 
 
 . 5 X 
 
 
 
 
 
 
 
 ^Up to 24 
 (by 30 in. 
 
 
 
 
 ad val. 
 
 
 
 
 
 
 
 sq., i4d 
 
 Plate glass : 
 
 
 
 
 10% ) 
 ad val. j 
 
 sq.yard. 
 
 
 
 
 
 to 4d. per 
 sq. ft. 
 ^ Of larger 
 
 Polished, "i S . 
 
 
 
 12 2 
 
 
 2 SJ 
 
 082 
 
 
 
 8 
 
 2 
 
 
 
 
 
 
 
 
 
 
 
 size, 
 
 
 
 
 
 
 
 
 
 
 
 IS. old. to 
 2s. id- per 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 1 
 
 V 
 
 
 
 
 \sn. ft.
 
 APPENDIX. 
 
 239 
 
 (conlinued). 
 
 States, and in the principtil Colonial Possessions 0/ the United Kingdom, on the undernieiilioned 
 
 Produce or Manujacture. 
 
 COLONIAL POSSESSIONS OF THE UNITED KINGDOM [continU<d\. 
 
 ;^ S. d. £. S. d. 
 
 Per cwt. Per cwt. 
 
 Free. 
 
 7i .„ 
 ad val. 
 
 15% I 
 id va'. ) 
 
 cub. ft. 
 026 
 cub. ft. 
 
 Free. 
 
 ad 
 
 f 10 X 
 
 ( ad val. 
 
 10% 
 ad val. 
 
 "( ad val. 
 
 ( 12.; 
 ( ad val. 
 
 12^, % 
 
 ad val. 
 
 12?.% 
 
 ad val. 
 
 ''Sailcloth 
 free. 
 Other 
 
 10 /.' ad 
 
 10 ^ 
 ad val. 
 
 10% 
 ad val. 
 
 Qucenstar.d< 
 
 £ s. d. 
 
 I'cr cwt. 
 
 Sailcloth 
 
 free. 
 
 Other 
 
 15 % ad 
 
 val. 
 
 ad val 
 
 Free. 
 
 too sq.ft. 
 020 
 
 .id v;d. I 
 
 5% 
 ad val, 
 
 ( ad val. 
 
 5 /= 
 ad val. 
 
 5 . 
 ad val. 
 
 £. s. d. 
 Per cwt. 
 
 Sailcloth 
 25% ad val. 
 
 Other 
 20/' ad val. 
 
 Cape of 
 GockI Hupe. 
 
 10% 
 ad val 
 
 and 20;^ 
 , ad val. 
 
 and 20 % 
 . ad yal. 
 
 25% 
 ad ^■al. 
 
 ad val. 
 
 ad val. 
 
 I 10% 
 I ad val. 
 
 io% 
 ad val. 
 
 10% 
 ad val.
 
 240 
 
 APPENDIX. 
 
 TABLE XIII. 
 
 Return of the Rates 0/ Import Duty levied in the principal European Countries, in the UniteJ 
 
 Articles 0/ Jiriliik 
 
 FOREIGN COUNTRIES (continued). 
 
 Germany. 
 
 Holland. Belgium. 
 
 Italy. 
 
 Iron ; 
 Pig 
 
 Bar 
 
 Rails for Railways 
 Iron . . . 
 
 Rails for Railways 
 —Steel . . . 
 
 Copper : 
 
 Ingots, Cakes, or 
 Slabs . .. • • 
 Hammered, in Bars 
 Tanned Leather (un- 
 wrought) : 
 0.x and Cow \ 
 Hides . . . > 
 Calfskins . . ) 
 Alkali : 
 
 Bicarbonate of 
 Soda .... 
 
 Crystals of Soda . 
 
 Soda Caustic . . 
 Paper : 
 
 For Writing . . 
 
 For Printing . . 
 
 Seed Oils ; 
 
 Linseed .... 
 Rape 
 
 £ s. d. 
 Per cwt. 
 006 
 
 o I 3i 
 
 iFre 
 
 From 
 092 
 
 to 
 o 18 3 
 
 lo X ■, 
 
 £ s. d. 
 Per cwt. 
 
 V- Free 
 
 Free 
 Free 
 
 > Free 
 
 Free 
 
 £ s. d. 
 Per cwt. 
 
 4l 
 
 )-o o 4I 
 
 Free 
 
 O 4 ci 
 
 o 6 
 
 Free 
 
 i 5% 
 tadvvl. 
 
 Coals . 
 
 Gal. 
 
 f-o I 7^ 
 
 Free 
 
 £ s. d. 
 Per cwt. 
 
 £ .s. d. 
 
 Per cwt. 
 
 Free 
 
 [' 
 
 Free 
 
 o 4 oi 
 
 O I Bi 
 
 009; 
 
 o *3 3 
 
 Ton 
 
 o o 11; 
 
 Gal. Gal 
 
 f O O 2? I ) 1 
 
 (003) 
 
 o I 71 
 
 o 4 oi 
 
 From 
 o 10 2 
 
 002^ 
 
 f Not 
 ( specified 
 
 iPure 
 o 2 Oi 
 Impure 
 o o 2i 
 
 Free 
 
 Gal. 
 
 ' o o to| 
 
 , o ti yi' 
 
 100 Btls. 
 
 £ s. d. 
 Per cwt. 
 006 
 
 o 2 6i 
 
 o 2 6H 
 
 Free 
 
 082 
 
 030* 
 
 Not 
 specified 
 
 'O 4 Oj 
 
 oi 
 
 ot- 
 
 Free 
 
 oi 
 
 £ s. d. 
 Per cwt. 
 
 o I 5* 
 / o 4 S 
 and 
 
 according 
 V to size 
 
 033 
 
 ' Partly Steel 
 3048 
 j Pure Steel 
 L o 5 10 
 
 / 15% to 25% 
 "( ad val. 
 
 Not 
 specified 
 
 35 % ad val. 
 
 20 X or 25 % 
 
 ad val. 
 
 according as 
 
 unsized or 
 
 sized. 
 
 Gal. 
 
 /Anthracite 
 I Free. 
 I Bitumi- 
 ) nous, 
 I Ton 
 V o 3 ij 
 Gal. 
 
 * An addi 
 
 tional e.xcise duty on letter paper of 4s. 7|d. per cwt. An additional 
 t Excise duty in addition ; — At 16 degrees
 
 APPENDIX. 
 
 241 
 
 {continued). 
 
 States, and in the principal Colonial Possessions of the United Kingdom, on the undermentioned 
 
 Produce or Manufacture [continued). 
 
 COLONIAL POSSESSIONS OF THE UNITED KINGDOM {continued]. 
 
 New South 
 Wales. 
 
 Victoria. 
 
 South 
 Australia. 
 
 Western 
 Australia. 
 
 Tasmania. 
 
 New 
 Zealand. 
 
 Queensland 
 
 Canada. 
 
 Cape or 
 Good Hope. 
 
 £ S. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 £ s. d. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 Per cwt. 
 
 
 N 
 
 
 
 
 f 
 
 Free 
 
 \ f 
 
 Free 
 
 005 
 
 i7i% 
 ad val. 
 
 N 
 
 
 - Free 
 
 Free 
 
 Free 
 
 i 10% J 
 I ad val. 1 
 
 ad val. 
 
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 ad val. 
 
 15% 
 ad val. 
 
 Free to 
 
 ad val. 
 
 J 
 
 
 
 
 V 
 
 / V 
 
 J V 
 
 . 
 
 1883 
 
 ) 
 
 Free 
 
 /.5% 
 t ad val. 
 
 f 20% 
 
 } .,. { 
 
 10 to 12^ % 
 
 ad val. 
 
 [ Free 
 
 Free 
 r From 
 
 ( 5% 
 \ ad val. 
 
 If % 
 ad val. 
 
 r !•% 
 
 10 ;{ 
 
 ad val. 
 
 I" Free 
 
 J ad val. 
 
 I 10% 
 
 I2i% 
 
 10% 
 
 1 9 4 
 
 ( 5% 
 
 3 ad val. 
 
 C 10% 
 
 ; 7j% 
 
 r ad val. 
 
 ad val. 
 
 ad val. 
 
 to 
 Vo 14 
 
 f ad val. 
 
 ; 15 to 20% 
 
 f ad val. 
 
 
 (.ad val. 
 
 ) 
 
 
 
 ) 
 
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 ; 
 
 Free 
 
 j-o I 
 
 Free 
 020 
 
 >-o I 
 
 f I2i% 
 
 ad val. 
 006 
 
 048 
 024 
 
 >o I 
 
 3 specified 
 (010 
 
 1 20% 
 f ad val. 
 
 r ad val. 
 
 
 
 
 
 
 
 
 
 Free 
 
 Free 
 
 Free 
 
 j I2i% 
 
 ( ad val. 
 
 |- Free 
 
 Free 
 
 \ Not 
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 \ Free 
 
 / 
 
 094 
 
 18 8 
 
 f 10% 
 ( ad val. 
 
 I2i% 
 
 ad val. 
 
 . i°% ) 
 (ad val.") 
 
 /UncutN 
 
 free. 
 
 Cut - 
 
 15% 
 Wval.j 
 
 l 5% 
 
 20% 
 
 10% 
 
 1 
 
 V Free 
 
 
 
 
 
 ad val. 
 
 ad val. 
 
 au \..:. 
 
 Free 
 
 Free 
 
 i 10% 
 ( ad val. 
 
 
 Free 
 
 
 
 
 J 
 
 
 
 
 '' V 
 
 
 J 
 
 Gal. 
 
 
 
 Gal. 
 
 
 Gal. 
 
 
 Gal. 
 
 Gal. 
 
 (006 
 C ad val. 
 
 l 25% 
 
 f ad val. 
 
 20% 
 
 \ G.al. 
 
 >-o 6 
 
 Free 
 
 006 
 
 ( I2i% 
 
 t ad val. 
 
 >o I 
 
 006 
 
 >o 6 
 
 
 
 
 
 
 
 ad val. ; 
 
 
 
 
 
 
 
 
 Ton 
 
 
 1 
 
 
 
 
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 /"Anthrct. 
 
 02 4 
 
 -<J Bitumi- 
 
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 Free 
 
 Free 
 
 Free 
 
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 Free 
 
 016 
 
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 1 
 
 
 
 
 
 
 
 
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 ) 
 
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 006 
 009 
 
 |o 9 
 
 009 
 
 I 
 
 (009 
 (0 I 3 
 
 I 3 
 016 
 
 009 
 010 
 
 005 
 009 
 
 |o 4 
 
 excise duty on other kinds from 2s. ijd to 4s. 2}d. per cwt. 
 the duty would be 4Jd. per gallon. 
 
 Q
 
 242 
 
 APPENDIX. 
 
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 APPENDIX. 
 
 243 
 
 
 
 
 
 
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 2 44 
 
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 APPENDIX. 
 
 245 
 
 
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 246 
 
 APPENDIX. 
 
 
 V3 
 
 X 
 
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 -I s^ 
 
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 \0 vu VO 
 
 ^^ I 1 1 1 1 •: •: 1 1 1 1 1 1 I II 1 -o I ? 1 
 
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 ;; I I I II I I bvli^l I I II I MM I I 
 
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 = =~^42...."'....j;.c'^.. di^-ac.crto 
 
 .a o " u ota t f S -S 0-- •- tOMrtJa .c 
 
 c « Sj:: o o o M„ i^--;Q, 0.33110 ^
 
 APPENDIX. 
 
 247 
 
 
 ^ 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 248 
 
 APPENDIX. 
 
 TABLE XVI. 
 
 statement showing the Proportion per cent, of tlie Total Value oj the A rticles of Food 
 namedin Table XV. imported into the United Kingdom from Foreign Countrie 
 and British Possessions, for the Year 1883. 
 
 Countries. 
 
 Per Centage 
 of Total. 
 
 A. — Foreign Countries 
 Russia 
 Sweden 
 Denmark 
 Germany 
 Holland 
 Belgium 
 France 
 Spain 
 Portugal 
 Roumania 
 China 
 
 Foreign West India Island 
 United States . 
 Other Foreign Countries 
 
 Total of Foreign Countries 
 
 B. — British Possessions 
 British India 
 Australia . 
 British West Indies and British Guiana 
 British North America 
 Other British Possessions . 
 
 Total of British Possessions 
 
 Total of Foreign Countries and British ^ 
 Possessions / 
 
 67 
 17 
 3 '4 
 9 '9 
 5-4 
 1-8 
 6-8 
 10 
 0-9 
 
 2"0 
 4-5 
 
 0-6 
 
 28-9 
 
 9-1 
 
 827 
 
 8-2 
 
 14 
 
 2-5 
 
 3 '2 
 
 2*0 
 
 17-3
 
 APPENDIX. 
 TABLE XVII. 
 
 249 
 
 statement showing the Value o/the Exports 0/ British and Irish Produce in each o/the 
 Ytars 1870, 1880, and 1883, classified as Articles of Food, Raw Materials, and 
 Manufactured Goods ; in thousands 0/ pounds, i.e., 100 = 100,000. 
 
 Articles Exported. 
 
 (a) Articles of Food : — 
 Animals, living : 
 
 Oxen, bulls, cows, and calves . . 
 
 Sheep and lambs 
 
 Swine 
 Beer and ale 
 Biscuit and bread . . 
 
 Butter 
 
 Cheese 
 
 Corn, grain, meal, and flour : 
 
 Wheat 
 
 Malt 
 
 Oats 
 
 Other kinds of grain 
 
 Wheat-meal and flour 
 
 Other kinds of meal and flour . . 
 Fish, fresh and cured : 
 
 Salmon 
 
 Herrings . . 
 
 Pilchards . . 
 
 Cod and ling 
 
 Oysters 
 
 Unenumerated 
 Hops 
 
 Pickles, vinegar, and sauces 
 Provisions, unenumerated . . 
 Spirits, British and Irish . . 
 Sugar, refined and candy . . 
 
 ,, molasses, treacle, and syrup 
 Tobacco and snuff, manufactured in the 
 United Kingdom : 
 
 Snuff 
 
 Other kinds of manufactured tobacco . . 
 Wine, British made 
 
 Total .. • 
 
 {b) Raw Materials : — 
 Clay, unmanufactured 
 Coals, cinders, &c. : 
 Coals 
 
 Coke and cinders 
 
 Products of coal, peat, or shale, in- 
 cluding naphtha, paraftine and oil 
 thereof, and petroleum, pitch, and tar 
 
 * Includes confectionery — previously included with 
 on page 254. 
 
 1870. 
 
 L 
 
 41 
 
 26 
 
 2 
 
 1,882 
 
 436 
 
 316 
 
 no 
 
 544 
 
 242 
 
 160 
 
 30 
 
 163 
 6 
 
 58 
 
 31 
 
 3 
 
 7,607 
 
 98 
 
 5,290 
 224 
 
 331 
 
 £ 
 60 
 
 35 
 3 
 
 .734 
 583 
 202 
 
 51 
 
 348 
 162 
 
 99 
 24 
 
 74 
 
 45 
 
 42 
 
 723 
 
 1,422 
 
 30 
 
 47 
 
 44 
 
 44 
 
 30 
 
 45 
 
 44 
 
 179 
 
 93 
 
 53 
 
 470 
 
 679 
 
 926 
 
 1,035 
 
 183 
 
 544 
 
 934 
 
 1,127 
 
 35 
 
 186 
 
 1883. 
 
 £ 
 
 193 
 
 43 
 
 2 
 
 1,820 
 
 597 
 212 
 
 59 
 
 134 
 38 
 19 
 6c 
 
 24 
 
 47 
 
 1,427 
 
 42 
 
 367 
 90 
 
 *I,22I 
 S22 
 810 
 
 I,2J7 
 246 
 
 7 
 
 25 
 
 3 
 
 6 
 25 
 
 8,825 9,575 
 
 163 
 
 7,837 
 338 
 
 492 
 
 192 
 
 9,971 
 340 
 
 1,018 
 
 'Other Manufactured Goods'
 
 250 
 
 APPENDIX. 
 TABLE XVII. [continued). 
 
 Articles Exported. 
 
 {b) Raw Materials [continued) :— 
 Copper, ore . . 
 
 ,, unwrought, in ingots, cakes, or slabs 
 Flax and hemp, dressed and undressed 
 Grease, not otherwise described . . 
 Hides, raw . . 
 Iron: 
 
 Ore 
 
 Old, for re-manufacture . . 
 
 Pig and puddled . . 
 Lead, ore 
 
 " pig 
 
 Rags (except woollen), and other mate- 
 rials for making paper 
 Seeds of all sorts 
 Skins and furs : 
 
 Sheep and lambs, undressed (without 
 
 the wool) 
 Foreign, dressed in the United Kingdom 
 Unenumerated 
 Steel, cast in ingots. . 
 Tin, unwrought 
 Wood and timbei", rough-hewn, sawn, or \ 
 
 split \ 
 
 Wool, sheep and lambs, British . . 
 
 ,, not being sheep and lambs, in- \ 
 eluding foreign (dressed in the Uni- f 
 ted Kingdom), and flocks and rag- f 
 wool . . . . . . . . ) 
 
 Zinc or spelter, ore . . 
 
 ,, ,, crude, in cakes 
 
 Other articles, unmanufactured 
 
 Total 
 
 (f) Manufactured Goods :— 
 
 Alkali 
 
 Apparel and slops . . 
 Arms, ammunition, &c. : 
 
 Shot of iron, including shells 
 
 Gunpowder 
 
 Percussion caps . . 
 
 Ordnance stores and ammunition, un- ) 
 enumerated . . . . . . J 
 
 Cannon and mortars 
 
 1870. 
 
 £ 
 I 
 
 796 
 
 77 
 
 I 
 
 502 
 
 2,229 
 
 2 
 
 760 
 
 390 
 
 137 
 
 257 
 164 
 130 
 
 12 
 633 
 
 43 
 581 
 
 166 
 
 4 
 
 84 
 
 576 
 
 13,744 
 
 £ 
 
 8 
 
 1,054 
 
 III 
 
 28s 
 194 
 
 27 
 
 1,165 
 
 5,219 
 
 4 
 
 357 
 
 673 
 231 
 
 715 
 
 673 
 256 
 
 187 
 
 399 
 
 55 
 1,187 
 
 547 
 
 2 
 
 94 
 
 999 
 
 23,272 
 
 1,486 
 2,205 
 
 2,398 
 3,212 
 
 9 
 
 427 
 
 54 
 
 41 
 
 373 
 
 73, 
 
 485 
 
 530 
 
 106 
 
 92
 
 APPENDIX. 
 TABLE XVII. {continued). 
 
 251 
 
 Articles Exi'Ortkd. 
 
 1870. 
 
 1880. 
 
 1883. 
 
 {c) Manufactured Goons {conlinueif}: — 
 
 £ 
 
 £ 
 
 £ 
 
 Arms, ammunition, &c. {continued) : 
 
 
 
 
 Muskets . . 
 
 98 
 
 61 
 
 ) 
 
 Rifles 
 
 655 
 
 95 
 
 355 
 
 Fowling pieces . . 
 
 95 
 
 133 
 
 3 
 
 Revolvers . . 
 
 18 
 
 16 
 
 6 
 
 Other firearms 
 
 6 
 
 2 
 
 \ „ 
 
 Parts of firearms . . 
 
 8 
 
 39 
 
 ! '' 
 
 Swords, cutlasses, bayonets, and other ) 
 
 
 
 
 arms, not being firearms . . \ 
 
 14 
 
 4 
 
 3 
 
 Bags and sacks, empty 
 
 914 
 
 1,452 
 
 1,138 
 
 Bleaching materials 
 
 177 
 
 442 
 
 480 
 
 Books, printed 
 
 631 
 
 970 
 
 1,175 
 
 Brass, manufactures of 
 
 247 
 
 323 
 
 432 
 
 Candles of all sorts . . 
 
 133 
 
 143 
 
 148 
 
 Caoutchouc manufactures . . 
 
 693 
 
 834 
 
 1,070 
 
 Carriages, carts, &c. : 
 
 
 
 
 Railway carriages 
 
 88 
 
 76 
 
 426 
 
 >> waggons, trucks, (S-'c. .. 
 
 388 
 
 215 
 
 668 
 
 Cement 
 
 366 
 
 693 
 
 925 
 
 Chemical products or preparations, un- \ 
 enumerated . . . . . . j 
 
 1,043 
 
 2,384 
 
 1,678 
 
 Clay, manufactures thereof 
 
 176 
 
 191 
 
 229 
 
 Clocks, watches, and parts thereof 
 
 146 
 
 157 
 
 311 
 
 Coal, cinders, &c. : 
 
 
 
 
 Fuel, manufactured 
 
 124 
 
 197 
 
 336 
 
 Copper, wrought or manufactured : 
 
 
 
 
 Mixed, or yellow metal for sheathing . . 
 
 796 
 
 1,022 
 
 1,182 
 
 Unenumerated 
 
 1,228 
 
 1,258 
 
 1,245 
 
 Cordage cables, and ropes of hemp or 1 
 like material . . . . . . J 
 
 354 
 
 296 
 
 436 
 
 Cotton twist and yarn 
 
 14,671 
 
 11,902 
 
 13,510 
 
 Cotton Manufactures : 
 
 
 
 
 Piece goods, plain 
 
 33,831 
 
 34,755 
 
 34.151 
 
 „ „ printed 
 
 18,137 
 
 22,377 
 
 20,831 
 
 ,, ,, of mixed materials 
 
 339 
 
 546 
 
 552 
 
 Lace and patent net 
 
 839 
 
 1,974 
 
 2,708 
 
 Hosiery, stockings and socks . . 
 
 293 
 
 402 
 
 536 
 
 ,, of other sorts .. 
 
 520 
 
 541 
 
 634 
 
 Thread for sewing 
 
 1,208 
 
 2,073 
 
 2,361 
 
 Other manufactures, unenumerated 
 
 1.578 
 
 994 
 
 1.163 
 
 Earthen and china ware : 
 
 
 
 
 Red pottery and brown stone ware 
 
 56 
 
 87 
 
 135 
 
 Earthenware, china ware, parian, and ) 
 porcelain . . . . . . \ 
 
 1,637 
 
 1,97s 
 
 2,198 
 
 Furniture (household), cabinet and up- \ 
 holstery wares . , . , . . \ 
 
 231 
 
 481 
 
 706
 
 252 
 
 APPENDIX. 
 TABLE XVII. {continued). 
 
 Articles Exported. 
 
 1870. 
 
 1S80. 
 
 1883. 
 
 (<:) Manufactured Goods [continued): — 
 
 £ 
 
 £ 
 
 £ 
 
 Glass : 
 
 
 
 
 Plate, rough or silvered (including ) 
 
 
 
 261 
 
 looking-glasses and mirrors) . . ) 
 
 145 
 
 193 
 
 Flint, plain, cut, or ornamental (in- 1 
 
 
 
 
 eluding bottles and phials of flint I 
 
 254 
 
 249 
 
 339 
 
 glass) J 
 
 
 
 
 Common bottles . . 
 
 307 
 
 32,?, 
 
 356 
 
 Other manufactures, unenumerated 
 
 127 
 
 147 
 
 128 
 
 Haberdashery and millinery (including ) 
 embroidery and needlework) . . ) 
 
 4,813 
 
 3,875 
 
 3,880 
 
 Hardware and cutlery, unenumerated 
 
 3,812 
 
 3,521 
 
 3,756 
 
 Hats of felt 
 
 344 
 
 558 
 
 699 
 
 ,, straw 
 
 142 
 
 395 
 
 398 
 
 ,, other sorts . . 
 
 41 
 
 53 
 
 41 
 
 Implements and tools : 
 
 
 
 
 Agricultural 
 
 249 
 
 263 
 
 353 
 
 Unenumerated 
 
 n 
 
 "5 
 
 500 
 
 Iron : 
 
 
 
 
 Bar 
 
 2,252 
 
 1,907 
 
 1,751 
 
 Angle 
 
 62 
 
 76] 
 393 J 
 
 283 
 
 Bolt and rod 
 
 301 
 
 Railroad : 
 
 
 
 
 Rails and tie rods 
 
 7,136 
 
 4,212 
 
 4,593 
 
 Wheels and axles 
 Unenumerated . . 
 
 638 
 982 
 
 276 ( 
 
 584! 
 
 1,420 
 
 Wire of iron or steel (except telegraph) 
 
 366 
 
 828 
 
 927 
 
 Sheets, and boiler and armour plates . . 
 
 977 
 
 1,229 
 
 1,480 
 
 Galvanised, other than wire 
 
 454 
 
 1,361 
 
 1,749 
 
 Hoops 
 
 688 
 
 793 
 
 671 
 
 Tin plates . . 
 
 2,363 
 
 4,458 
 
 4,705 
 
 Anchors, grapnels, chains, and cables . . 
 
 382 
 
 265 
 
 389 
 
 Tubes and pipes, wrought 
 
 324 
 
 452 
 
 512 
 
 Nails, screws, and rivets 
 
 332 
 
 374 
 
 406 
 
 Cast or wrought and all other manu- ) 
 factures, unenumerated . . j 
 
 2,369 
 
 2,700 
 
 3,309 
 
 Steel, bar, of all kinds . . 
 
 98s 
 
 987 
 
 1,089 
 
 „ sheets 
 
 107 
 
 96 
 
 215 
 
 Manufactures of steel, or of steel and \ 
 iron combined . . . . . . ) 
 
 
 827 
 
 *58i 
 
 575 
 
 Lead, rolled and sheet, piping and tubing 
 
 186 
 
 226 
 
 241 
 
 Leather, tanned, unwrought 
 
 850 
 
 1,153 
 
 1,637 
 
 ,, wrought, boots and shoes 
 
 1,148 
 
 1,282 
 
 1,542 
 
 ,, ,, other articles, unenu- ) 
 merated . . . . . . . . ) 
 
 
 
 
 300 
 
 375 
 
 422 
 
 * Exclusive of surgical and anatomical instruments, 
 manufactured goods " for this year. 
 
 which are included with " othe
 
 APPENDIX. 
 TABLE XVII. {continued). 
 
 253 
 
 Articles Exported. 
 
 (c) Manufactured Goods (continued) : — 
 Linen and jute yarn 
 Linen and jute manufactures : 
 
 Linen piece goods, plain, unbleached ) 
 or bleached . . . . . . . .\ 
 
 Ditto, checked, printed, or dyed, and 
 
 damasks and diapers . . 
 Sailcloth and sails 
 Thread for sewing 
 Linen manufactures, unenumerated 
 Jute manufactures 
 Lucifer and vesta matches . . 
 Machinery and millwork : 
 
 Steam engines, or parts of, locomotive. . 
 
 Steam engines, or parts of, other de- "I 
 
 scriptions . . . . . . J 
 
 Not being steam engines, agricultural . . 
 ,, other descriptions 
 
 Manure, unenumerated 
 Medicines 
 
 Musical instruments and parts thereof 
 Oil, other than essential and medicinal : 
 Seed 
 
 Other sorts, unenumerated 
 Oil and floor cloth (including india-) 
 rubber cloth) . . . . . . \ 
 
 Painters' colours and materials 
 Paper : 
 Writing or printing, and envelopes 
 Hangings . . 
 
 Pasteboard, millboard, &c. (including "1 
 playing cards) . . . . . . | 
 
 Unenumerated (and articles of paper, "| 
 except papier mache) . . . . j 
 
 Perfumery of all sorts 
 Pictures 
 
 Plate, gold and silver 
 Plated and gilt wares 
 Prints, engravings, drawings, &c. 
 Saddlery and harness 
 Saltpetre (British prepared) 
 Silk, thrown, twist, or yarn 
 Silk manufactures : 
 Of silk only — 
 Broad stuffs 
 
 Handkerchiefs, scarfs, and shawls . . 
 Ribbons of all kinds . . 
 
 1870. 
 
 1880. 
 
 £ 
 
 L 
 
 2,434 
 
 1,212 
 
 5.983 
 
 4,819 
 
 421 
 
 150 
 
 193 
 
 166 
 
 283 
 
 372 
 
 369 
 
 328 
 
 790 
 
 2,255 
 
 169 
 
 145 
 
 810 
 
 785 
 
 1,188 
 
 2,001 
 
 303 
 
 680 
 
 2,993 
 
 5,797 
 
 415 
 
 1,128 
 
 615 
 
 814 
 
 146 
 
 200 
 
 1,286 
 
 1,621 
 
 119 
 
 351 
 
 219 
 
 383 
 
 884 
 
 1,174 
 
 42S 
 
 856 
 
 119 
 
 138 
 
 19 
 
 38 
 
 84 
 
 208 
 
 102 
 
 108 
 
 86 
 
 310 
 
 59 
 
 67 
 
 131 
 
 167 
 
 41 
 
 97 
 
 327 
 
 436 
 
 77 
 
 60 
 
 1,154 
 
 684 
 
 510 
 
 710 
 
 149 
 
 409 
 
 96 
 
 123 
 
 £ 
 
 1,327 
 
 4,408 
 
 214 
 
 172 
 
 293 
 
 352 
 
 2,518 
 
 15' 
 
 1,387 
 2,911 
 
 865 
 
 8,272 
 
 2,162 
 
 923 
 
 255 
 
 1,864 
 364 
 598 
 
 1,278 
 
 1,026 
 160 
 
 211 
 
 142 
 320 
 
 79 
 261 
 
 175 
 429 
 
 II 
 706 
 
 648 
 
 357 
 183
 
 254 
 
 APPENDIX. 
 TABLE XVII. (continued). 
 
 Articles Exported. 
 
 1870. 
 
 [c) Manufactured Goods [continued) : — 
 Of Silk only (continued) : 
 Lace 
 
 Unenumerated . . 
 Of silk and other materials — 
 Broad stuffs 
 Other kinds 
 Soap . . 
 
 Stationery, other than paper 
 Stones and slates : 
 Slate by tale 
 
 Grindstones, millstones, and other | 
 sorts of stone .. .. .. ] 
 
 Telegraph wires and apparatus 
 Umbrellas and parasols 
 Wood and timber, manufactured : 
 Staves and empty casks . . 
 Unenumerated 
 Woollen and worsted yarn : 
 Woollen yarn (carded) . . 
 Worsted yarn (combed) . . 
 W^oollen and worsted manufactures : 
 Coatings, duffels, &c. , all wool . . 
 
 ,, ,, of wool mixed ) 
 
 with other materials. . . . j 
 
 Worsted stuffs, all wool . . 
 
 ,, ,, of wool mi.xed with } 
 other materials . . . . \ 
 
 Blankets and blanketing . . 
 Flannels . . 
 
 Carpets, not being rugs . . . , 
 
 Shawls 
 
 Rugs, coverlets, or wrappers 
 Hosiery 
 
 Small wares and manufactures of 
 wool or worsted, unenumerated 
 Yam, alpaca, mohair, and other sorts, 
 
 unenumerated 
 Zinc or Spelter, manufactures of . . 
 Other Manufactured Goods 
 
 Total 
 
 81 
 299 
 
 231 
 
 85 
 
 218 
 
 141 
 
 138 
 
 2,523 
 253 
 
 157 
 80 
 
 4.897 
 
 3,086 
 
 1,664 
 
 2,052 
 
 11,736 
 
 645 
 366 
 
 1,393 
 117 
 
 151 
 266 
 
 190 
 
 57 
 3,034 
 
 178,236 
 
 £ 
 
 no 
 
 251 
 
 302 
 125 
 440 
 724 
 
 177 
 84 
 
 1,301 
 
 458 
 
 "3 
 251 
 
 107 
 3,238 
 
 2,920 1 
 
 1,029 i 
 6,213. 
 
 587 
 310 
 
 1,134 
 158 
 361 
 320 
 
 418 
 
 41 
 
 5,917 
 
 190,963 
 
 206,693
 
 APPENDIX. 
 
 Summary ok Foregoing Table. 
 
 255 
 
 
 1870. 
 
 1880. 
 
 1883. 
 
 
 Amount. 
 
 Per cent 
 of Total 
 
 Amount. 
 
 Percent 
 of Total 
 
 Amount. 
 
 £ 
 
 9,575 
 
 23.531 
 206,693 
 
 Per cent 
 of Toul 
 
 Articles of Food, ) 
 
 Drink, and Tobacco ) 
 
 Raw Materials 
 
 Manufactured Goods 
 Total Exports of^ 
 British and Irish >■ 
 Produce . . ) 
 
 7,607 4 
 
 13.744 7 
 178,236 89 
 
 £ 
 8,825 
 
 23,272 
 190,963 
 
 4 
 
 10 
 86 
 
 4 
 10 
 86 
 
 199,587 ! 100 
 
 223,060 
 
 100 
 
 239.799 
 
 100 
 
 TABLE XVIII. 
 
 Statement showing^ the Pro/>oriion of pood. Raw Materials, and Manufactured Articles 
 in the Domestic E.ifiorts 0/ France, for eeuh of the Years i86g and 1879, compiled 
 from, the French official Returns ; in thousands of pounds, i.e., 100 = 100,000. 
 
 Articles Exported. 
 
 1869. 
 
 1879 
 
 (a) Articles of Food : — 
 
 £ 
 
 £ 
 
 Brandy, spirits, and liqueurs 
 
 2,457 
 
 4,130 
 
 Butter and cheese 
 
 3.116 
 
 2,665 
 
 Cattle, &c 
 
 1,351 
 
 893 
 
 Eggs 
 
 1,455 
 
 1,304 
 
 Farinaceous substances not otherwise specified 
 
 805 
 
 1,818 
 
 Fish 
 
 694 
 
 1,519 
 
 Fruit, for the table 
 
 1,086 
 
 998 
 
 ,, oleaginous 
 
 621 
 
 334 
 
 Grain and meal: Wheat, spelt, mcslin 
 
 661 
 
 392 
 
 Rye 
 
 S93 
 
 301 
 
 Other kinds 
 
 1,215 
 
 1,066 
 
 Hops 
 
 475 
 
 81 
 
 Ice 
 
 304 
 
 221 
 
 Meat of all kinds 
 
 398 
 
 445 
 
 Oil, olive 
 
 136 
 
 200 
 
 Salt 
 
 86 
 
 102 
 
 Sugar, raw 
 
 602 
 
 537 
 
 ,, refined ... 
 
 3.240 
 
 4.033 
 
 Syrups, preserves, &c.'... 
 
 174 
 
 195 
 
 Tobacco, manufactured 
 
 45 
 
 70 
 
 Truffles 
 
 57 
 
 298 
 
 Vegetables, green, salted, or preserved 
 
 166 
 
 541 
 
 Wines of all kinds 
 
 13.447 
 
 10,308 
 
 Other articles of food 
 
 533 
 
 708 
 
 Total of Food 
 
 34.017 
 
 33.159
 
 256 
 
 APPENDIX. 
 TABLE XVIII. {continued). 
 
 Articles Exported. 
 
 1879. 
 
 {/;) Raw Materials: — 
 
 Building materials (lime, bricks, slate, &c. ) 
 Cards for carding machines 
 Coal and coke ... 
 Cotton, raw 
 
 Fat, oil 
 
 Feathers ... 
 Flax and hemp ... 
 Grease of all kinds 
 Hair of all kinds 
 Hemp fibre 
 Hides, raw- 
 Horses, mules, &c. 
 
 Madder .. 
 
 Native resins 
 
 Ores of all kinds 
 
 Pitch and mineral tar ... ... ... 
 
 Rags for paper making... 
 
 Saffron ... 
 
 Silk, raw and waste 
 
 Silkworms' eggs... 
 
 Sowing seed 
 
 Stones, lithographic and other... 
 
 Wood, for building purposes ... 
 
 Wool, raw 
 
 Other raw materials 
 
 Total Raw Materials 
 
 (( ) Manufactured Articles : — 
 Arms and ammunition ... 
 Artificial flowers, &c. ... 
 Basketwork of all kinds 
 Books, stationery, &c. ... 
 Candles ... 
 
 Caoutchouc manufactures 
 Carriages 
 
 Chemical products not otherwise specified . 
 Clocks and watches 
 Colours ... 
 Copper, wrought 
 Cutlery ... 
 French fancy wares 
 
 Furniture, and other wood manufactures 
 Garancine (extract of madder)... 
 Glass, and glass wares ... 
 
 £ 
 
 £ 
 
 375 
 
 504 
 
 84 
 
 75 
 
 178 
 
 273 
 
 3,016 
 
 2,675 
 
 66 
 
 252 
 
 143 
 
 1,348 
 
 364 
 
 519 
 
 689 
 
 i>o53 
 
 489 
 
 454 
 
 127 
 
 123 
 
 971 
 
 2,110 
 
 788 
 
 638 
 
 519 
 
 22 
 
 228 
 
 137 
 
 242 
 
 120 
 
 62 
 
 no 
 
 440 
 
 6x1 
 
 176 
 
 158 
 
 6,245 
 
 6,344 
 
 199 
 
 98 
 
 823 
 
 646 
 
 178 
 
 263 
 
 1,292 
 
 869 
 
 1,787 
 
 4,689 
 
 2,001 
 
 1,119 
 
 21,482 
 
 25,210 
 
 164 
 
 256 
 
 1,240 
 
 1,205 
 
 61 
 
 136 
 
 825 
 
 956 
 
 306 
 
 81 
 
 166 
 
 187 
 
 139 
 
 116 
 
 1,424 
 
 1,500 
 
 452 
 
 627 
 
 489 
 
 449 
 
 346 
 
 182 
 
 59 
 
 105 
 
 211 
 
 246 
 
 987 
 
 1,203 
 
 557 
 
 14 
 
 911 
 
 790
 
 APPENDIX. 
 
 257 
 
 TABLE XVIII. {continued). 
 
 Articles Exi'okted. 
 
 i86y. 
 
 (r) Manufactured Articles {continued) 
 Gold and silver wares ... 
 Grindstones 
 Haberdasher)', &c. 
 
 Hats, of felt 
 
 ,, mats, and other manufactures of straw 
 or bark 
 
 Instruments : optical, mathematical, sur- ) 
 gical, &c. 
 ,, musical ... 
 
 Leather wares ... 
 Machinery- 
 Medicines, compounded 
 Oil-cake ... 
 
 Paper and cardboard ... 
 Perfumery 
 
 Pottery and porcelain ... 
 Quinine, sulphate of ... 
 Skins and hides, dressed 
 Soap, other than scented 
 Tartrates... 
 Tissues: Cotton... 
 
 ,, Linen, hempen, and jute 
 
 Silk 
 
 ,, Woollen 
 Umbrellas and parasols 
 Tools, and other metal wares ... 
 Wearing apparel 
 Works of art 
 Yams : Cotton ... 
 
 ,, Linen, hempen, and jute 
 ,, Woollen 
 Other manufactured articles ... 
 
 Total of Manufactured Articles ., 
 
 £ 
 
 £ 
 
 954 
 
 2,316 
 
 142 
 
 283 
 
 6,087 
 
 5,429 
 
 405 
 
 405 
 
 398 
 
 664 
 
 163 
 
 312 
 
 406 
 
 399 
 
 3-966 
 
 5,930 
 
 595 
 
 921 
 
 619 
 
 425 
 
 564 
 
 416 
 
 779 
 
 886 
 
 707 
 
 315 
 
 317 
 
 516 
 
 90 
 
 224 
 
 3.242 
 
 3,846 
 
 421 
 
 362 
 
 243 
 
 505 
 
 2,959 
 
 2,535 
 
 733 
 
 1,048 
 
 17-894 
 
 9,070 
 
 10,732 
 
 12,371 
 
 133 
 
 136 
 
 1,510 
 
 2,711 
 
 3,349 
 
 2,710 
 
 436 
 
 494 
 
 "5 
 
 98 
 
 339 
 
 366 
 
 1,112 
 
 1,748 
 
 2,757 
 
 4,022 
 
 70,504 
 
 69,516
 
 2S8 
 
 appendix. 
 Summary of foregoing Table. 
 
 
 Aiiiount. 
 
 Percentage. 
 
 
 1869. 
 
 1879. 
 
 1869. 
 
 1879. 
 
 Food ... 
 
 Raw Materials 
 Manufactures 
 
 £ 
 
 34,017 
 21,482 
 
 70,504 
 
 £ 
 33,159 
 25,210 
 69,516 
 
 27-0 
 17-0 
 56-0 
 
 26-0 
 198 
 
 54 '2 
 
 Total 
 
 126,003 
 
 127,885 
 
 100 
 
 100 
 
 
 TABLE 
 
 XIX. 
 
 
 
 statement slwwtng the Proportion of Foody Raw Materials, and Manufactured 
 Articles in the Domestic E.rports of Germany, for ea<:k of the Years 1869 and 
 1879 ; compiled from the official Returns of Germany; in thousands of marks, 
 i.e., 100 ^=- 100,000. 
 
 Articles Exported. 
 
 1869.* 
 
 1879. 
 
 (a) Food :— 
 
 Marks. 
 
 Marks. 
 
 Animals, living — 
 
 
 
 Cattle 
 
 32,800 
 
 45,350 
 
 Sheep 
 
 30,000 
 
 37,600 
 
 Swine 
 
 16,400 
 
 24,090 
 
 Beer 
 
 3,400 
 
 23,400 
 
 Brandy 
 
 20,700 
 
 14,800 
 
 Butter 
 
 26,800 
 
 22,000 
 
 Fruit of all kinds 
 
 52,000 
 
 77,700 
 
 Grain — 
 
 
 
 Wheat 
 
 149,000 
 
 127,000 
 
 Barley 
 
 17,200 
 
 40,600 
 
 Oats 
 
 15,900 
 
 15,500 
 
 Other grain, and flour 
 
 104,200 
 
 166,900 
 
 Hops 
 
 lS,200 
 
 22,300 
 
 Meat 
 
 6,600 
 
 8,970 
 
 Sugar, raw 
 
 10,600 
 
 58,200 
 
 ,, refined 
 
 4.500 
 
 21,390 
 
 Syrup and molasses ... 
 
 5,700 
 
 10,190 
 
 Tobacco, manufactured 
 
 11,800 
 
 6,760 
 
 ,, unmanufactured 
 
 8,300 
 
 1,380 
 
 Wine 
 
 22,800 
 
 21,910 
 
 Other articles of food 
 
 10,226 
 
 12,930 
 
 I Marks 
 
 567,126 
 
 758,970 
 
 Total of Food | 
 
 
 
 I £ 
 
 28,356* 
 
 37,948 
 
 • The values for 1869 are estimated only.
 
 APPENDIX. 
 TABLE XIX. {contimtcd). 
 
 259 
 
 Articles Extokted. 
 
 1869.* 
 
 (/') Raw Materials : — 
 Animal produce, &c.... 
 Cotton, raw ... 
 Flax, hemp, and jute 
 
 Fuel 
 
 Hides and skins, including leather — 
 
 Cow hides ... 
 
 Other kinds 
 
 Horses 
 
 Metals, crude — 
 
 Pig iron 
 
 Iron and steel, unnianufacturcil ... 
 
 Other raw metals ... 
 Oil: Petroleum 
 Ores and minerals — 
 
 Iron ore 
 
 Other kinds 
 Rags for paper-making 
 Silk, raw 
 
 Wood of all kinds for further manufacture 
 Wool (sheep's) 
 Soap, oil and resins ... 
 Other unmanufactured articles 
 
 Total of Raw Materials ... 
 
 Marks 
 
 £ 
 
 Manufactured Articles : — 
 Books, pamphlets, and other publications 
 Chemical products, drugs, &c. 
 Dyewoods 
 Gunpowder ... 
 Glasswares and earthenware 
 Guano... 
 
 India-rubber manufactures 
 Iron and steel, manufactures of 
 Leather wares 
 Machineiy 
 
 Manures (except guano) 
 Metal wares ... 
 Paper and paper-hangings 
 Rails for railways 
 Ships ... 
 
 Maiks. 
 
 36,500 
 61,865 
 23,208 
 97,200 
 
 18,470 
 18,034 
 12,745 ' 
 
 12,814 
 12,604 
 
 69.730 ! 
 7,758 1 
 
 5,400 
 84,480 
 500 
 17,630 
 115,800 
 74,026 
 40,000 
 58,896 
 
 Marks. 
 90,680 
 65,000 
 40,250 
 84,200 
 
 22,800 
 24,680 
 
 34,coo 
 
 25,610 
 
 64,650 
 
 60,440 
 
 4,480 
 
 20,900 
 73,200 
 7,48b 
 48,300 
 70,500 
 66,440 
 55,720 
 86,330 
 
 767,660 
 38,383* 
 
 945,660 
 47,283 
 
 23,000 
 
 48,931 
 
 1,496 
 
 8u 
 
 51,500 
 2,600 
 
 18,780 
 
 31,882 
 
 31.784 
 21,212 
 4,2iS 
 6,104 
 17,000 
 13.350 
 43,000 
 
 22,200 
 
 120,780 
 
 1,800 
 
 3,920 
 
 55.000 
 
 1,890 
 
 15,000 
 
 47,400 
 
 51,750 
 
 39,010 
 
 22,230 
 
 11,200 
 
 26,100 
 
 23,000 
 
 32,590 
 
 R 2 
 
 * The values for 1869 are estimated only.
 
 26o 
 
 APPENDIX. 
 TABLE XIX. [continued). 
 
 Articles Exported. 
 
 1879. 
 
 {() Manufactured Articles {continued) :- 
 Tissues — 
 
 Cotton 
 
 Linen and hempen 
 
 Silk 
 
 Woollen 
 
 Other kinds, and ready-made clothing 
 Wood wares and basket work 
 Works of art, ornaments, &c. 
 Yarns- 
 Cotton 
 
 Linen and hempen 
 
 Woollen 
 
 Other kinds 
 Other manufactured articles 
 
 Total of Manufactures 
 
 Marks. 
 
 Marks. 
 
 73.945 1 
 
 95,260 
 
 22,475 
 
 13.560 
 
 86,418 
 
 66,690 
 
 161,502 
 
 142,100 
 
 75,407 
 
 98,590 
 
 14.974 
 
 43,100 
 
 74,000 
 
 54.900 
 
 10,692 
 
 24,700 
 
 5.072 
 
 4,700 
 
 32,292 
 
 24,400 
 
 62 
 
 3,700 
 
 4,770 
 
 25,450 
 
 Marks 877,277 1,071,020 
 £ ; 43,864* 53,551 
 
 SumjMary of foregoing Table. 
 
 
 Amount. 
 
 Percentage. 
 
 
 1869. 
 
 1879. 
 
 1869. 
 
 1879. 
 
 1869. 
 
 1879. 
 
 
 Marks. 
 
 Marks. 
 
 £ 
 
 £ 
 
 
 
 Food . . . 
 
 567,126 
 
 758,970 
 
 28,356 
 
 37,948 
 
 25-6 
 
 27-3 
 
 Raw Materials 
 
 767,660 
 
 945,660 
 
 38,383 
 
 47,283 
 
 347 
 
 34 "o 
 
 Manufactured ) 
 Articles . j 
 
 877,277 
 
 1,071,020 
 
 43,864 
 
 53,551 
 
 397 
 
 387 
 
 Total. . 
 
 2,212,063* 
 
 2,775,650 
 
 110,603* 
 
 138,782 
 
 100 
 
 100 
 
 * The values for 1869 are estimated only.
 
 APPENDIX. 
 
 261 
 
 TABLE XX. 
 
 Stattment showing thi Proportion 0/ Food, Raw Maitriali, and Manu/aciurtd Articles 
 in the Domestic Exports of the Unittd States, for each 0/ the Years 1870 and 1880. 
 (Years ended -ioth June), cotnpited from the official Returns of the United States ; 
 in thousands of dollars, i.e., 100 = 100,000. 
 
 Years ended 30th June. 
 
 Articles Exported. 
 
 («) 
 
 Food : — 
 Animals, living 
 Beer, ale, porter, and cider 
 Bread and breadstuffs : 
 
 Indian corn 
 
 "Wheat 
 
 Wheat flour 
 
 Other breadstuffs ... 
 Fruits ... 
 Hops ... 
 Oil, Vegetable 
 Provisions ; 
 
 Bacon and hams . . . 
 
 Beef, fresh 
 
 ,, salted 
 
 Butter 
 
 Cheese 
 
 Lard 
 
 Meats, preserved ... 
 
 Pork 
 
 Other 
 
 Spirits 
 Sugar, refined 
 
 ,, unrefined, and molasses 
 Tobacco, and manufactures of 
 
 Total of Food 
 
 {b) Raw Materials: — 
 
 Coal 
 
 Cotton, raw ... 
 
 Furs and furriers' wares 
 
 Ginseng 
 
 Raw hides and skins 
 
 iSyct 
 
 Dollars. 
 
 1,045 
 
 26 
 
 1,289 
 
 47,171 
 
 21,170 
 
 2,621 
 
 543 
 
 2,516 
 
 326 
 
 6,123 
 1,940 I 
 
 592 
 8,881 
 5,933 
 
 314 
 3,253 
 2,140 
 
 726 
 
 555 
 
 91 
 
 22,705 
 
 Dollars 
 
 £ 
 
 129,960 
 
 21,660* 
 
 i88o.t 
 
 Dollars. 
 
 15,882 
 
 299 
 
 53,298 
 190,546 
 
 35,333 
 8,860 
 2,091 
 
 2,573 
 3,476 
 
 50,988 
 7,442 
 2,881 
 6,691 
 
 12,172 
 
 27,920 
 7,877 
 5,930 
 5,142 
 3,028 
 2,718 
 541 
 
 18,442 
 
 464,130 
 96,694* 
 
 1,306 
 
 2,058 
 
 227,028 
 
 211,536 
 
 1,941 
 
 5,404 
 
 455 
 
 533 
 
 365 
 
 649 
 
 * In the year 1870 the conversions have been made at the currency ratt of 3s. 4d. to 
 the dollar, and in 1880 at the average rate of 4s. 2d. 
 t Exclusive of bullion and specie.
 
 262 
 
 APPENDIX. 
 TABLE XX. {continued). 
 
 
 Years ende 
 
 i 30th June. 
 
 Articles Exported. 
 
 
 
 
 1870.+ 
 
 1880.+ 
 
 (3) Raw Materials [continued) :— 
 
 Dollars. 
 
 Dollars. 
 
 Naval stores (resin, turpentine, tar, and pitc 
 
 Il) 1,920 
 
 2,453 
 
 Oil, Mineral... 
 
 32,669 
 
 36,219 
 
 ,, Animal (fat and fish) ... 
 
 1,148 
 
 1,676 
 
 Quicksilver 
 
 512 
 
 1,360 
 
 Seeds 
 
 98 
 
 2,777 
 
 Tallow 
 
 3>8iS 
 
 7,689 
 
 Wool, raw 
 
 55 
 
 72 
 
 All otiier unmanufactured articles ... 
 
 2,285 
 
 2,128 
 
 ( Delia 
 
 >^s 273,597 
 
 274,554 
 
 Total of Raw Materials ... < 
 
 
 
 ( 
 
 £ 45>6oo* 
 
 57.199* 
 
 {c) Manufactured Articles : — 
 
 
 
 Agricultural implements 
 
 1,069 
 
 2,246 
 
 Books, pamphlets, and other publications 
 
 341 
 
 627 
 
 Carriages, railway cars, carts, and parts 
 thereof ... 
 
 1 977 
 
 1,407 
 
 Clocks and watches ... 
 
 589 
 
 1.453 
 
 Copper, and manufactures of 
 
 1,042 
 
 849 
 
 Cotton, manufactures of 
 
 3>787 
 
 9,981 
 
 Drugs, chemicals, medicines, and dye 
 
 2,495 
 
 
 stuffs (including acids) ... 
 
 3,531 
 
 Fancy articles, combs, perfumery, and 
 toilet soap 
 
 409 
 
 876 
 
 Glass and glass wares 
 
 531 
 
 750 
 
 Hemp, and manufactures of, including 
 cordage ... 
 
 j 582 
 
 1,629 
 
 Iron and steel, and manufactures of 
 
 13.483 
 
 14,716 
 
 Jewellery, and other manufactures of gold 
 and silver 
 
 } ^ 
 
 232 
 
 Leather, and manufactures of 
 
 673 
 
 6,760 
 
 Manures 
 
 115 
 
 604 
 
 Marble and stone, and manufactures of 
 
 180 
 
 653 
 
 Metals, and manufactures of, not elsewhere 
 specified... 
 
 401 
 
 971 
 
 Musical instruments ... 
 
 267 
 
 811 
 
 Oilcake 
 
 3.419 
 
 6,260 
 
 Ordnance stores 
 
 1,229 
 
 777 
 
 * In the year 1870 the conversions have been made at the currency rate of 3s. 4d. to 
 the dollar, and in 1880 at the average rate of 4s. zd. 
 + Exclusive of bullion and specie.
 
 APPENDIX. 
 
 263 
 
 TABLE XX. [continued). 
 
 
 Years ended 30th June. 
 
 Articles Exported. 
 
 
 
 
 1870.+ 
 
 i88o.t 
 
 (<-)Manufactured Articles {coniimieif) : — 
 
 Dollars. 
 
 Dollars. 
 
 Paper and .stationery 
 
 515 
 
 1,183 
 
 Soap, common 
 
 623 
 
 690 
 
 Starch 
 
 107 
 
 448 
 
 Turpentine, spirits of 
 
 1,357 
 
 2,132 
 
 Wearing apparel 
 
 619 
 
 708 
 
 Wood, and manufactures of... 
 
 13,735 
 
 16,237 
 
 Wool, manufactures of 
 
 124 
 
 216 
 
 All other manufactured articles 
 
 2,922 
 
 8,515 
 
 ( Dollars 
 
 51,651 
 
 85,262 
 
 Total of Manufactures ... < 
 
 
 
 \ £ 
 
 8,609* 
 
 17,763* 
 
 Summary. 
 
 
 tAMOUNT. 
 
 Percbntacb. 
 
 
 1870. 
 
 1880. 
 
 1870. 
 
 1880. 
 
 1870. 
 
 1880L 
 
 Food . 
 Raw Materials 
 Manufactured "| 
 Articles / 
 
 Dollars. 
 
 129,960 
 
 273,597 
 
 51,651 
 
 Dollars. 
 
 464,130 
 
 274,554 
 
 85,262 
 
 * 
 
 21,660 
 45,600 
 
 8,609 
 
 » 
 
 96,694 
 57,199 
 17,763 
 
 28-6 
 6o"l 
 
 II-3 
 
 56-3 
 33 3 
 10-4 
 
 Total . 
 
 455.208 
 
 823,946 
 
 75,869 
 
 171,656 
 
 100 
 
 100 
 
 * In the year 1870 the conversions have been made at the currency rate of 35. 4d. to 
 the dollar, and in 1880 at the average rate of 4s. 2d. 
 t Exclusive of bullion and specie.
 
 264 
 
 APPENDIX. 
 
 TABLE XXI. 
 
 Comparative table shmuing the Population^ Public Debt, Imports, and Exports of 
 the Ajistralian Colonies and New Zealand for each of the Eleven Years — 
 1873-83. {From the Victorian Year Book.) 
 
 VICTORIA (87,884 SQUARE MILES). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 31st December. 
 
 on the 
 31st December. 
 
 Imports. 
 
 Exports. 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 772,039 
 
 12,445,722 
 
 16,533,856 
 
 15,302,454 
 
 1874 
 
 783,274 
 
 13,990,553 
 
 16,953,985 
 
 15,441,109 
 
 1875 
 
 791,399 
 
 13,995,093 
 
 16,685,874 
 
 14,766,974 
 
 1876 
 
 801,717 
 
 17,011,382 
 
 15,705,354 
 
 14,196,487 
 
 1877 
 
 815,494 
 
 17,018,913 
 
 16,362,304 
 
 15,157,687 
 
 1878 
 
 827,439 
 
 17,022,065 
 
 16,161,880 
 
 14,925,707 
 
 1879 
 
 840,620 
 
 20,050,753 
 
 15,035,538 
 
 12,454,170 
 
 1880 
 
 860,067 
 
 22,060,749 
 
 14,556,894 
 
 15,954,559 
 
 1881 
 
 882,232 
 
 22,426,502 
 
 16,718,521 
 
 16,252,103 
 
 1882 
 
 906,225 
 
 22,103,202 
 
 18,748,081 
 
 16,193,579 
 
 1883 
 
 931,790 
 Total 
 
 24,308,175 
 
 17,743,846 
 
 16,398,863 
 
 
 181,206,113 
 
 1 167,043,692 
 
 NEW SOUTH WALES (309,175 sqlare miles). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 31st December. 
 
 on the 
 31st December. 
 
 Imports. 
 
 Exports. 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 560,275 
 
 10,842,415 
 
 11,088,388 
 
 11,815,829 
 
 1874 
 
 584,278 
 
 10,516,371 
 
 11,293,739 
 
 12,345,603 
 
 1875 
 
 606,652 
 
 11,470,637 
 
 13,490,200 
 
 13,671,580 
 
 1876 
 
 629,776 
 
 11,759,519 
 
 13,672,776 
 
 13,003,941 
 
 1877 
 
 662,212 
 
 11,724,419 
 
 14,606,594 
 
 13,125,819 
 
 1878 
 
 693,743 
 
 11,688,119 
 
 14,768,873 
 
 12,965,879 
 
 1879 
 
 703,143 
 
 14,937,419 
 
 14,198,847 
 
 13,086,819 
 
 1880 
 
 739,385 
 
 14,903,919 
 
 13,950,075 
 
 15,525,138 
 
 1881 
 
 781,265 
 
 16,924,019 
 
 17,409,326 
 
 16,049,503 
 
 1882 
 
 817,468 
 
 18,721,219 
 
 21,281,130 
 
 16,716,961 
 
 1883 
 
 869,310 
 
 Total 
 
 21,632,459 
 
 20,960,157 
 
 19,886,018 
 
 
 166,720,105 
 
 158,193,090
 
 APPENDIX. 
 
 265 
 
 TABLE XXI. {cojitimied). 
 QUEENSLAND (668,224 square miles). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 
 on the 
 
 Imports. 
 
 Exports. 
 
 
 31st December. 
 
 31st December. 
 
 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 146,690 
 
 4,782,850 
 
 2,885,499 
 
 3.542,513 
 
 1874 
 
 163,517 
 
 5,249,350 
 
 2,962,439 
 
 4,106,462 
 
 1875 
 
 181,288 
 
 6,435,250 
 
 3,328,009 
 
 3.857.576 
 
 1876 
 
 187,100 
 
 6,435,250 
 
 3,126,559 
 
 3.875,581 
 
 1877 
 
 203,084 
 
 7,685,350 
 
 4,068,682 
 
 4.361.275 
 
 1878 
 
 210,510 
 
 8,935,350 
 
 3.436,077 
 
 3,190,419 
 
 1879 
 
 217.851 
 
 10,192,150 
 
 3,080,889 
 
 3,434,034 
 
 1880 
 
 226,077 
 
 12,192,150 
 
 3,087,296 
 
 3,448,160 
 
 1881 
 
 226,968 
 
 13,245,150 
 
 4,063,625 
 
 3,540,366 
 
 1882 
 
 248,255 
 
 13.125,350 
 
 6,318,463 
 
 3.534,452 
 
 1883 
 
 287,475 
 
 14,907,850 
 
 6,233,351 
 
 5,276,608 
 
 
 Total 
 
 .. 
 
 42,590,889 1 
 
 42,167,446 
 
 SOUTH AUSTRALIA (903,425 square miles). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 31st December. 
 
 on the 
 31st December. 
 
 Imports. 
 
 Exports. 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 198,075 
 
 2,174,900 
 
 3,841,100 
 
 4.587.859 
 
 1874 
 
 204,623 
 
 2,989,750 
 
 3,983,290 
 
 4,402,855 
 
 1875 
 
 210,442 
 
 3,320,600 
 
 4,203,802 
 
 4,805,051 
 
 1876 
 
 225,677 
 
 3,837.100 
 
 4,576,183 
 
 4,816,170 
 
 1877 
 
 236,864 
 
 4,737,200 
 
 4.625,511 
 
 4,626,531 
 
 1878 
 
 248,795 
 
 5,329,600 
 
 5,719,611 
 
 5.355,021 
 
 1879 
 
 259,460 
 
 6,605,750 
 
 5.014.150 
 
 4,762,727 
 
 1880 
 
 267,573 
 
 9,865,500 
 
 5,581.497 
 
 5,574,505 
 
 1881 
 
 286,324 
 
 11,196,800 
 
 5,244,064 
 
 4.407,757 
 
 1882 
 
 293,509 
 
 12,472,600 
 
 6,707,788 
 
 5.359,890 
 
 1883 
 
 304,515 
 Total 
 
 13,891,900 
 
 6,310,055 
 
 4,883,461 
 
 
 55,807,051 
 
 53,581,827
 
 266 
 
 APPENDIX. 
 
 TABLE XXI. {continued). 
 WESTERN AUSTRALIA (975,920 square miles). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 31st December. 
 
 on the 
 31st December. 
 
 Imports. 
 
 E.\ports. 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 25,761 
 
 35>ooo 
 
 297,328 
 
 265,217 
 
 1874 
 
 26,209 
 
 119,000 
 
 364,263 
 
 428,837 
 
 1875 
 
 26,709 
 
 135,000 
 
 349,840 
 
 391,217 
 
 1876 
 
 27,321 
 
 135,000 
 
 386,037 
 
 397,293 
 
 1877 
 
 27,838 
 
 161,000 
 
 362,707 
 
 373,352 
 
 1878 
 
 28,166 
 
 184,556 
 
 379,050 
 
 428,491 
 
 1879 
 
 28,668 
 
 361,000 
 
 407,299 
 
 494,884 
 
 1880 
 
 29,019 
 
 361,000 
 
 353,669 
 
 499,183 
 
 1881 
 
 30,013 
 
 511,000 
 
 404,831 
 
 502,770 
 
 1882 
 
 30,766 
 
 511,000 
 
 508,755 
 
 583,056 
 
 1883 
 
 31,700 
 Total 
 
 611,000 
 
 516,847 
 
 447,010 
 
 
 4,330,626 
 
 4,811,310 
 
 TASMANIA (26,375 SQUARE miles). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 31st December. 
 
 on the 
 31st December. 
 
 Imports. 
 
 Exports. 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 104,217 
 
 1,477,600 
 
 1,107,167 
 
 893,556 
 
 1874 
 
 104,176 
 
 1,476,700 
 
 1,257,785 
 
 925,325 
 
 1875 
 
 103,663 
 
 1,489,400 
 
 1,185,942 
 
 1,085,976 
 
 1876 
 
 105,484 
 
 1,520,500 
 
 1,133,003 
 
 1,130,983 
 
 1877 
 
 107,104 
 
 1,589,705 
 
 1,308,671 
 
 1,416,975 
 
 1878 
 
 109,947 
 
 1,747,400 
 
 1,324,812 
 
 1,315,695 
 
 1879 
 
 112,469 
 
 1,786,800 
 
 1,267,475 
 
 1,301,097 
 
 1880 
 
 114,762 
 
 1,943,700 
 
 1,369,223 
 
 1,511,931 
 
 1881 
 
 118,923 
 
 2,003,000 
 
 1,431,144 
 
 1,555,576 
 
 1882 
 
 122,479 
 
 2,050,600 
 
 1,670,872 
 
 1,587,389 
 
 1883 
 
 126,220 
 Total 
 
 2,385,600 
 
 1,832,637 
 
 1,731,599 
 
 
 14,888,731 
 
 14,456,102
 
 APPENDIX. 
 
 267 
 
 TABLE XXI. [continued). 
 NEW ZEALAND (104,027 squarfi miles). 
 
 
 Population 
 
 Public Debt 
 
 
 
 Year. 
 
 on the 
 31st December. 
 
 on the 
 31st December. 
 
 Imports. 
 
 E.xports. 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 295.946 
 
 10,913,936 
 
 6,464,687 
 
 5,610,371 
 
 1874 
 
 341,860 
 
 13,366,936 
 
 8,121,812 
 
 5,251,269 
 
 1875 
 
 375,856 
 
 17,400,031 
 
 8,029,172 
 
 5,828,627 
 
 1876 
 
 399,075 
 
 18,678,111 
 
 6,905,171 
 
 5,673,465 
 
 1877 
 
 417,622 
 
 20,691,111 
 
 6,973,418 
 
 6,327,472 
 
 1878 
 
 432,519 
 
 22,608,311 
 
 8,755,663 
 
 6,015,525 
 
 1879 
 
 463,729 
 
 23,958,311 
 
 8,374,585 
 
 5,743,126 
 
 1880 
 
 484,864 
 
 28,583,231 
 
 6,162,011 
 
 6.352,692 
 
 18S1 
 
 500,910 
 
 29,659,111 
 
 7,457,045 
 
 6,060,876 
 
 1882 
 
 517,707 
 
 30,235,711 
 
 8,609,270 
 
 6,658,008 
 
 1883 
 
 540,877 
 Total 
 
 31,385,411 
 
 7,974,038 
 
 7,095,999 
 
 
 83,826,872 
 
 66,617,430 
 
 Dominion of Canada. [Fyoin the Canadian Statistics.) 
 
 Number of Population, Amount of Public Debt, and Total Value of Imports and 
 Exports, including Bullion aud Specie, in each of the years 1873 to 1S83. 
 
 Years ended 
 30th June. 
 
 Population. 
 
 Debt.t 
 
 Imports 
 
 E.xports 
 
 
 
 £ 
 
 £ 
 
 £ 
 
 1873 
 
 3,686,096* 
 
 20,801,763 
 
 26,669,017 
 
 18,706,233 
 
 1874 
 
 \ f 
 
 22,567,701 
 
 26,711,164 
 
 18,614,985 
 
 1875 
 
 
 24,168,412 
 
 25,639,642 
 
 16,226,454 
 
 1876 
 
 
 25,948,232 
 
 19,418,822 
 
 16,868,007 
 
 1877 
 
 given 
 
 27,757,356 
 
 20,693,325 
 
 15.807,374 
 
 187S 
 
 29,242,097 
 
 19,392,039 
 
 16,525,764 
 
 1879 
 
 
 29,789,622 
 
 17,075,922 
 
 14,894,011 
 
 1880 
 
 J , I 
 
 31,760,747 
 
 18,018,697 
 
 18,314,887 
 
 1881 
 
 4,324,810 
 
 32,374,121 
 
 21,943,925 
 
 20,477,254 
 
 1882 
 
 ) Cannot be \ 
 
 32,012,844 
 
 24,879,062 
 
 21,278,584 
 
 1883 \ given ( 
 
 33,013,899 
 
 27,552,921 
 
 20.434,543 
 
 Total 
 
 
 
 247,994,536 
 
 198,148,096 
 
 * Census of 1S71. t Total net liabilities of the Dominion and Provincial Governments. 
 Note. — In converting dollars into pounds sterling, the dollar is estimated at 4s. ad.
 
 ABLE 
 
 m, AND 
 
 Vessels bel( 
 the United 
 on 31st Decc 
 
 Sailing. 
 
 In 
 
 Thousands 
 of Tons. 
 3,465 
 3.S14 
 3,622 
 3.688 
 3,851 
 4,069 
 
 4.239 
 4,261 
 4,258 
 4,207 
 4,108 
 4,091 
 4i2i3 
 4,375 
 4,578 
 4,765 
 4,878 
 4,853 
 4,904 
 4,937 
 4,930 
 4,731 
 4,397 
 4,3"! 
 4,204 
 4,226 
 4.205 
 4,141 
 3,980 
 3,969 
 3.943 
 3,780 
 3,550 
 3,476 
 3,397 
 3,326 
 3.249 
 3,167 
 3.069 
 3.004 
 2,931 
 2,898 
 2.933 
 2.839 
 2,680 
 
 is 
 
 S3 
 
 5.5 
 
 37 
 36 
 35 
 34 
 33 
 32 
 
 32 
 3' 
 31 
 29 
 28 
 28 
 28 
 27 
 27 
 26 
 26 
 25 
 24 
 
 23 
 
 1879 
 1878 
 1877 
 1876 
 1875 
 1874 
 1873 
 1872 
 1871 
 1870 
 
 1867 
 i866 
 1865 
 1864 
 1863 
 1862 
 1861 
 i860 
 1859 
 1858 
 1857 
 1856 
 1855 
 1854 
 1853 
 1852 
 1851 
 1850 
 1849 
 1848 
 1847 
 1846 
 1845 
 1844 
 1843 
 1842 
 1841 
 1840 
 
 (a) The receipts of local authorities in- 
 clude money borrowed, Government con- 
 tributions, and receipts from sales of 
 property, &c. 
 
 (6) The tax was not extended to Ireland 
 until the year 1853. 
 
 (c) For ten months only. 
 
 (d) The nationality of emigrants was 
 not distinguished before 1853. 
 
 (e) The number of vagrants relieved is 
 
 not included. 
 
 (/) Imports were first entered by real 
 values in 1854. 
 
 (.^) Until 1873, vessels engaged in the 
 coasting trade, carrying minerals, British 
 timber, and British quarried stone, fresh 
 meat, and fish, and a few other articles, 
 were omitted from the coasting returns. 
 The increase caused by including these 
 vessels was about 4^ million tons. 
 
 (/:) Vessels belonging to the Channel 
 Islands and the Isle of Man are included. 
 
 (/) The Post Office Savings Banks were 
 established in 1861. The accounts for these 
 banks are made up to the 31st December, 
 and for the Trustees' Savings Banks to the 
 2oth November. 
 
 (X-) The decrease is stated to be due to 
 the relief which was given in 1880 being 
 discontinued. 
 
 {/) The increase is stated to be due to 
 food and clothing supplied at the schools 
 through the Duchess of Marlborough, 
 Mansion House, and A'e7v York Herald 
 Committees. 
 
 (?«) The decrease is stated to be due to 
 exceptionally severe weather, and the pre- 
 valence of scarlatina and measles. 
 
 («) The decrease is stated to be caused 
 by the partial failure of the potato crop, 
 and the prevalence of epidemics and 
 distress. 
 
 (0) There is no definite explanation of 
 the decrease, but 37 teachers are ref)orted 
 to have been arrested for complicity in 
 Fenianism. 
 
 (/) The decrease is stated to be due to 
 the severity of the weather. 
 
 {(j) Sugar is now used as an article 01 
 manufacture as well as of personal con- 
 sumption.
 
 TABLE XXII. 
 
 
 
 
 
 
 
 
 
 Summarized Statistics of t 
 
 HE Population 
 
 
 United Kingdom, an 
 
 
 CONDII 
 
 
 M 1840 
 
 TO -.884, SO FA 
 
 
 
 CA 
 
 
 
 
 
 
 
 
 
 
 
 
 * 
 
 1 
 
 g 
 
 P 
 
 Ir- 
 
 j/SSs 
 
 ii 
 11^ 
 
 •H 
 
 1 
 
 I..fonT- 
 
 "•■> ENPO.TS l/l. 
 
 
 
 SK.PP..G. 
 
 
 
 Il«.lW»V8 
 
 
 p: 
 
 D«» 
 
 K OP ENGLAND. 
 
 j1 
 
 1 
 
 II 
 
 i 
 
 il 
 
 f 
 
 C0SSU.,PT.O» FE« H«AU OP P0PVL*T.O». 
 
 •1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 1 
 J, 
 
 s 
 
 jl 
 
 1 
 
 1" 
 
 1 
 
 1 
 
 ■DdcdSchoob. 
 
 1 
 1 
 
 1 
 
 2I 
 
 i 
 
 1 
 
 1 
 
 1 
 
 1 
 
 
 ifl 
 
 oSlsl 
 
 3S. 
 
 1 
 
 1 
 
 1 
 
 ^1 
 
 il 
 
 1 
 
 1^ 
 
 11 
 
 5 §. 
 
 1 1 
 f 1= 
 
 1 = 
 
 ii 
 
 i 
 1 1 
 
 si 
 il 
 
 il 
 
 
 -■ 
 
 SnB.,(,.l 
 
 1 
 
 Ii 
 I 
 
 1= 
 
 SI 
 
 1 
 
 
 (a) The receipts of loeal authorities in- 
 
 
 &X. 
 
 Ireland. 
 
 tributions, and receipts from »les of 
 
 
 SM„s. 
 
 Staa^. 
 
 property, 8lc. 
 
 (S) The tax was not extended to Ireland 
 until the year ,853. 
 
 (f) For len months only. 
 
 (if) TTie nationality of emiarants was 
 not dLitingwished before .853. 
 
 
 S 
 
 * 
 
 Z 
 
 
 " 
 
 
 
 w 
 
 
 u 
 
 - 
 
 0" 1 f 
 
 
 
 
 
 
 a 
 
 ft! 
 
 
 •^ 
 
 * 
 
 
 1 •< 
 
 " 
 
 
 c 
 
 ■< 
 
 
 
 
 
 y.id 
 
 
 
 In MiUio«. 
 
 iDMflUou 
 
 la MiUim 
 
 I. Mini.., 
 
 loMUIioas 
 
 In 
 
 In 
 
 I. 
 
 In 
 
 
 In MHim 
 
 InMUIioiu 
 
 In HOlian. 
 
 In Millions 
 
 
 In 
 
 ThnlJand. 
 
 Th.!i.ds 
 
 InMlllLu 
 
 In Million* 
 
 I. Million, 
 
 InMllll.u 
 
 Id MiUioDS 
 
 In Ml 
 
 oJp„Cen. 
 
 InM,l 
 
 In Millions 
 
 InMIUions 
 
 d 
 
 Gallon, 
 
 lb,. 
 
 Ibt 
 
 lbs. 
 
 Kon,b., 
 
 
 not included""' ^ " '-ngfonls 
 
 
 
 oti:. 
 
 
 
 ofi:. 
 
 
 Th^Liis. 
 
 
 
 
 ofjC. 
 
 
 
 
 "rToi^ 
 
 
 
 
 
 " of v." 
 
 
 
 off 
 
 
 
 or Tons. 
 
 
 
 
 
 
 
 
 
 I/) Imports were first entered by teal 
 
 .88, 
 
 36:0 
 
 =r" 
 
 74« 
 
 
 
 
 
 
 
 
 
 096 
 
 
 
 
 
 3,463' 
 
 
 
 
 
 
 
 
 I aU 
 
 
 
 t* 
 
 
 ro3 
 
 4'9 
 
 
 
 
 B84 
 
 values ID .854. 
 
 ;if,' 
 
 
 88 'S 
 
 '" 
 
 677 
 
 576 
 S6S 
 
 3.S60 
 3.436 
 
 46S 
 469 
 
 awl 
 
 .,008 
 .,006 
 
 J 5-9 
 
 4U 
 
 
 7» 
 
 65-0 
 
 S' 
 
 Ws'9 
 
 y;; 
 
 3^738 
 
 S'l 
 
 an 
 
 66? 
 
 tS? 
 
 «o-S 
 
 It 
 
 3ft 
 
 ; 3 
 
 83 
 
 ' :!s 
 
 n 
 
 4S J 
 
 .-06 
 '■07 
 
 4-8 
 
 70-S 
 
 Ill 
 
 36 
 
 ii 
 
 (f). Until .873. vcsMls engaged in the 
 
 
 
 •1;! 
 
 7« 
 
 638 
 
 
 
 W454 
 
 
 
 >5'9 
 
 
 
 694 
 
 57'9 
 
 
 
 3.688 
 
 
 
 |6;8 
 
 6,-S 
 
 6,357 
 
 10-6 
 
 
 
 
 
 
 I -OS 
 
 4> 
 
 *:< 
 
 
 
 
 
 
 34* 
 
 
 
 6=-, 
 
 
 i'li 
 
 M463 
 
 
 
 J5| 
 
 
 
 697 
 
 587 
 
 
 
 
 
 
 
 63-0 
 
 5,794 
 
 w-g 
 
 33 
 
 
 
 
 
 
 
 <:' 
 
 
 
 
 
 
 ■!;s 
 
 
 Ba-3 
 
 
 
 
 a,98o 
 
 ("1)435 
 
 
 
 
 363 
 
 
 
 
 
 
 tJil 
 
 
 3S'9 
 
 
 
 4,886 
 
 
 38 
 
 
 
 
 
 43 lo 
 
 
 
 66 -J 
 
 319 
 
 
 879 
 
 
 isii 
 
 339 
 
 
 
 
 
 >.78a 
 
 
 
 
 
 369 
 
 
 
 I'fl 
 
 
 
 
 
 a6;9 
 
 
 
 
 
 33 
 
 1 3 
 
 
 
 6'« 
 
 46 S 
 
 
 
 53-8 
 
 18B 
 
 
 87! 
 
 vilLL^^boi'^fJSS''^'''''^ 
 
 z 
 
 336 
 33-» 
 
 ll-l 
 
 77. 
 
 1 
 
 Ul 
 
 
 "I 
 
 .«5 
 
 t^ 
 
 \U 
 
 
 aS7 
 
 646 
 633 
 
 s;'i 
 
 ,6-9 
 
 .06 
 .98-6 
 
 \',IS 
 4.358 
 
 ;,^9 
 
 
 33-8 
 
 fco 
 
 41963 
 
 Is-s 
 
 3§ 
 
 
 70 
 
 : ||^ 
 
 66 
 
 :H 
 
 137 
 
 ;:i 
 
 63-0 
 59-0 
 
 rsi 
 
 |; 
 
 s;j 
 
 iSm 
 
 3*8 
 
 74". 
 
 769 
 
 
 S36 
 
 
 
 
 998 
 
 
 
 a8a 
 
 656 
 
 46'3 
 
 
 
 
 wi 
 
 
 
 S9-0 
 
 5,686 
 
 
 37 
 
 67 
 
 
 
 
 
 
 <S-9 
 
 
 
 87s 
 
 (A) Ve^eU b«longinE; to (he Channel 
 
 ••74 
 
 3"S 
 
 76;, 
 
 
 
 s.s 
 
 ..985 
 
 
 '973 
 
 
 i6;i 
 
 
 39B 
 
 668 
 
 
 
 
 
 ill;. 
 
 
 
 s6;9 
 
 
 
 36 
 
 
 64 
 
 
 
 
 
 
 m 
 
 ita 
 
 
 
 Isliuds and Ihc Iste of Man are included. 
 
 .•73 
 
 
 
 779 
 
 
 486 
 
 .Jb; 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 S8 S 
 
 
 
 17" 
 
 
 873 
 
 
 ■S;. 
 
 31-9 
 
 'il 
 
 ,K 
 
 3«'! 
 
 4S6 
 
 1,65. 
 
 (")3S6 
 
 
 
 'S'7 
 
 
 
 6,0 
 
 
 360 
 
 
 
 .Is38 
 
 
 ag'o 
 
 
 
 i3'e 
 
 
 
 
 
 
 
 i-iS 
 
 
 47-4 
 
 .63 
 
 
 •;» 
 
 
 .»7. 
 
 31-6 
 
 7^8 
 
 37» 
 
 
 
 364 
 
 i9.;8 
 
 
 16-4 
 
 
 a84 
 
 6,5 
 
 4i'S 
 
 36B 
 
 ■997 
 
 
 
 
 a6-s 
 
 
 
 
 
 
 
 
 
 56 8 
 
 .06 
 
 
 ,6;B 
 
 
 
 B71 
 
 
 ■|2 
 
 
 
 2" 
 
 
 
 
 
 
 
 
 
 
 
 366 
 
 36;6 
 
 ■ ^0 
 
 4)58 
 
 1,1.3 
 
 193 
 
 
 
 '■?'! 
 
 
 
 1 3 
 
 
 
 
 46,0 
 
 
 
 
 
 
 
 
 :l§ 
 
 31*0 
 
 'il 
 
 Boo 
 
 sis 
 
 W 
 
 '•',"1 
 
 lis 
 
 l38;a 
 
 Ila" 
 
 19-9 
 
 m 
 
 i 
 
 S"3 
 
 3419 
 
 
 
 4.765 
 4,878 
 
 9,8 
 
 .88 
 
 ai-g 
 
 ^■3 
 
 3,6a6 
 3,4"! 
 
 99 
 
 rf 
 
 
 5b 
 
 ! S 
 
 f.; 
 
 48 a 
 6j 9 
 
 i 
 
 3-5 
 
 Ja-o 
 
 .56 
 
 ,6 
 
 868 
 
 mih November. 
 
 :^ 
 
 3<»;4 
 
 68-6 
 67-. 
 
 80! 
 
 
 ise 
 
 ',''£ 
 
 (0)3^ 
 
 
 I,'"f 
 
 
 095 
 
 '39 
 
 534 
 
 III 
 
 36-9 
 
 ill 
 
 4,853 
 
 B 
 
 17-4 
 
 la 
 
 p:s 
 
 
 13-6 
 ia'3 
 
 '7 
 
 1 7 
 
 46 
 
 .05 
 
 4-8 
 43 
 
 
 
 3;7 
 
 "'.' 
 
 »5 
 
 35 
 
 866 
 
 thi^leU^f wl^Jh^^gilen ^in'^iSSoijIilnE 
 
 .B6s 
 
 39-9 
 
 S?! 
 
 8.4 
 
 
 
 ■!os8 
 
 
 
 
 
 
 
 
 
 36;3 
 
 i97'6 
 
 
 834 
 
 .66 
 
 19'3 
 
 
 
 7'6 
 
 
 1 4 
 
 
 1 'P 
 
 4'8 
 
 
 
 
 
 39-B 
 
 
 
 865 
 
 
 ■^ 
 
 »9-7 
 
 &■' 
 
 
 
 
 
 
 .•7;. 
 
 .,.98 
 
 
 
 
 ,88 
 
 
 
 .9S-8 
 
 
 69! 
 
 
 ie'l 
 
 34:0 
 
 
 
 
 e 7 
 
 
 s il 
 
 48 
 
 
 0-90 
 
 
 36-B 
 
 
 
 86; 
 
 
 .863 
 
 '41 
 
 1 
 
 bS 
 
 z 
 
 IS 
 
 ''96s 
 
 ail 
 
 97-8 
 
 ll.as 
 
 a;:i 
 
 aS 
 
 II? 
 
 446 
 
 a6-7 
 36-5 
 
 m 
 
 '8*;7 
 
 ,'397 
 
 115 
 
 «:» 
 
 
 Si 
 
 z 
 
 8;9 
 
 »3 
 
 i i 
 
 " 
 
 1 86 
 
 si 
 
 5! ! 
 
 o-Ss 
 
 'y 
 
 36-0 
 360 
 
 I»! 
 
 " 
 
 Ma 
 
 food and clothing supplied at the schools 
 
 
 39-0 
 
 69;a 
 
 
 
 
 gao 
 
 aBs 
 
 6sa 
 
 ..058 
 
 
 
 
 
 ab-i 
 
 
 
 S06 
 
 
 
 
 
 
 
 
 •4 
 
 
 
 0-86 
 
 
 
 
 
 
 Mansion House, and A'ew Vark Herald 
 
 
 aSS 
 
 
 i'3 
 
 
 
 |8, 
 
 {/)s63 
 
 96;o 
 
 
 
 
 .6s 
 
 376 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 a-7 
 
 
 
 
 
 
 I8s9 
 
 
 64-5 
 
 8.9 
 
 
 
 
 364 
 
 
 
 .7-8 
 
 
 .56 
 
 
 
 
 172-S 4;ii6 
 
 
 
 
 
 
 
 
 
 39 
 
 
 
 
 
 3-7 
 
 34;B 
 
 
 
 
 
 .8i8 
 
 a8-4 
 
 
 «3" 
 
 
 
 76I 
 
 aS 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 '3'3 
 
 
 
 36 
 
 a 65 
 
 
 44 a 
 
 0-98 
 
 3-6 
 
 
 
 
 8i 
 
 («) The decrease is stated 10 be due to 
 
 .Si7 
 
 
 
 
 
 ag* 
 
 6=7 
 
 S69 
 
 .K-i 
 
 
 
 
 .46 
 
 
 33-3 
 
 
 
 
 
 
 
 
 6-6 
 
 
 
 
 . 65 
 
 37 
 
 56 4 
 
 
 a-S 
 
 
 
 
 8S7 
 
 exceptionally severe weather, and the pie- 
 
 .;j6 
 
 
 
 
 
 aB6 
 
 
 
 .,8-3 
 
 .,06s 
 
 
 
 
 
 
 
 
 386 
 
 
 
 
 
 
 17 
 
 
 
 9 «7 
 
 36 
 
 «9 3 
 
 
 a-3 ' a8;3 
 
 •s 
 
 
 ell 
 
 
 .!SS 
 
 =7-8 
 
 
 
 
 a«7 
 
 538 
 
 
 .50-0 
 
 
 
 
 
 
 
 
 "66;5 31969 
 
 is. 
 
 
 
 
 
 
 18 
 
 
 
 
 
 
 0-96 
 
 
 
 
 855 
 
 
 .8s, 
 I?' 
 
 ajy 
 
 - 
 
 = 
 
 - 
 
 III 
 
 461 
 M345 
 
 »S4 
 
 a6,o 
 a78'. 
 
 .,046 
 
 ui 
 
 'S 
 
 "' 
 
 a68 
 
 i8;7 
 
 il 
 
 
 30S 
 
 .0-3 
 
 lo-o 
 
 ao-3 
 
 - 
 
 8-8 
 
 aa 
 
 i 31 
 
 it 
 
 - 
 
 - 
 
 53 J 
 
 ':'° 
 
 3-1 1 30-4 
 
 1 
 
 - 
 
 854 
 8g 
 
 and the prev^ilencc ot epidemics and 
 
 IbsJ 
 
 37*4 
 
 — 
 
 _ 
 
 _ 
 
 as7 
 
 a" 
 
 _ 
 
 _ 
 
 1I176 
 
 
 IT 
 
 z 
 
 z 
 
 le-o 
 
 39-9 
 
 1596 
 
 3I476 
 
 187 
 
 
 z 
 
 z 
 
 _ 
 
 lU 
 
 18 
 
 
 30 
 
 1 _ 
 
 _ 
 
 38 " 
 
 i-os 
 
 a-o ^*9 
 
 — 
 
 i; 
 
 isircss. 
 
 .•so 
 
 
 
 
 
 as6 
 
 
 
 
 .!336 
 
 
 
 
 
 
 
 
 
 .68 
 
 
 
 
 
 "o'4 
 
 
 ! ^ 
 
 
 
 
 
 
 i-o 35-3 
 
 
 
 850 
 
 (<») There is no de(inil<; vKplanatian of 
 
 .;„ 
 
 =7-7 
 
 
 
 
 3S9 
 
 
 
 
 <;m6 
 
 
 
 
 
 
 
 
 3I336 
 
 
 
 
 
 
 la-B 
 
 
 
 
 
 
 
 
 1-1 34-3 
 
 
 
 849 
 
 
 .1,8 
 
 "l"^ 
 
 
 
 
 as6 
 
 
 
 
 
 
 
 
 
 
 T, 
 
 
 
 
 
 
 
 
 
 
 ' '! 
 
 
 
 
 50 6 
 
 
 
 
 
 
 to have been arrested for complicity in 
 
 '!<! 
 
 a8'o 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 17 
 
 5 5* 
 
 
 
 
 69 9 
 
 o;9. 
 
 ;-7 33;a 
 
 
 
 847 
 
 
 .8,6 
 
 
 
 
 
 
 
 
 
 
 iri 
 
 
 
 
 
 
 
 3,o«9 
 
 
 
 
 
 
 
 18 
 
 3i 
 
 
 
 
 54 • 
 
 
 
 48 
 
 
 8,6 
 
 
 ■8,s 
 
 a7-a 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 7'5 
 
 
 al 
 
 
 
 
 
 0-96 
 
 I-' ji-B 
 
 
 
 8,5 
 
 the Mveriiy of the weather. 
 
 ■Bm 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 g-B 
 
 
 7 3* 
 
 39 
 
 
 
 
 
 
 
 
 
 (?) Sugar is now used as an article at 
 
 .6,3 
 
 '7 '3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 9-8 
 
 
 
 3,898 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 843 
 
 .;„ 
 
 
 
 
 
 
 
 
 
 
 Is-i 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 4I 
 
 
 
 
 
 
 
 
 
 8,3 
 
 
 .8,1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Ifd 
 
 96 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 .B,o 
 
 s6-5 
 
 " 
 
 " 
 
 " 
 
 ~ 
 
 
 ~ 
 
 3,'o 
 
 ~ 
 
 ~ 
 
 ~ 
 
 9-4 
 
 ~ 
 
 — s,68i 
 
 88 
 
 ~ 
 
 ■" 
 
 "■ 
 
 " 
 
 ~ 
 
 
 
 ~ 
 
 " 
 
 ~ 
 
 66 4 
 
 0-97 1 .-1 .5-3 
 
 " 
 
 ~ 
 
 sjo 
 
 
 ri
 
 INDEX 
 
 " A great national policy," lo 
 Absurdity of Imperialist proposals, 71 
 Advantages of a free trading country, 
 
 209 
 Advocates of national decay, 8 
 Agricultural depression, 130, 137 
 Agriculture in the United States, 145 
 Allegations of national decay, 2 
 Alleged change of circumstances, 113 
 America no rival to England, 63 
 American agriculture. Tax on, 63 
 
 and British Shipping, i6i 
 
 clocks, 167 
 
 competition and English manu- 
 factures, 63, 64 
 Arguments against tariff bargains, 89 
 Art and Science stimulating progress, 
 
 115 
 Artificial restrictions, Removal of, 
 
 beneficial, 117 
 Articles of food imported into the 
 
 United Kingdom, 246 
 
 , Proportion of, 247 
 
 , Total value of, 248 
 
 Assumption of Fair Traders — 
 answered, 8, 216 
 
 about colonial policy, 11 
 
 about the new colonial policy, 
 
 SO 
 
 about Protection, 40 
 
 about America repaying capital 
 
 and interest on loans, 64 
 Australian colonies. Statistics respect- 
 ing, 264-267 
 
 B. 
 
 Baden Powell, Mr., on Protective 
 
 remedies, 189 
 Bad harvests, Effects of, 130 
 
 on the country generally, 131 
 
 Bankruptcies in England and United 
 
 States, 147 
 Bargains, Effect of forcing, 74 
 Beetroot and sugar. Cultivation of, 
 
 178, i8i 
 Biscuits, French, 176 
 
 " Booms," Collapse of several, 139- 
 
 140 
 Bounties, Definition of, 190 
 
 on foreign sugar, 177 
 
 Bourne, Mr. Stephen, on Canadian 
 
 imports, 33, 71 
 British and American shipping, 161 
 British Association and Fair Trade, 
 
 31. 71 
 Buying and selling in a small way, 98; 
 individual, 210 ; in different 
 countries and at home, 210 
 
 C. 
 
 Canada, Statistics respecting, 267 
 
 Cane sugar and beet, 178 
 
 Capitalists and workmen on the recent 
 crisis, 66, 67 
 
 Chronic depression and changes in 
 methods of trade, 136 
 
 Circuitous trade between United 
 Kingdom, India, United States, 
 etc., 214 
 
 Clearing House business in England 
 and United States compared. 
 148 
 
 Clocks, American, in England, 167, 
 168 
 
 Cobden, Mr. R., on excess of imports, 
 106 ; on freedom of trade, 207, 
 212 ; on the price of food, 58 ; 
 on treaties and retaliation, 204 ; 
 economical results of treaties, 206 
 
 Colonial federation, 7 
 
 policy. Character of the new, 
 
 10, 50, 51 
 
 and foreign trade, 18, 23 ; 
 
 conclusions concerning, 39 ; Pro- 
 tective tendencies of, 50 ; com- 
 parison of, 213 ; proportion of 
 the supplies, 215, 230 
 
 trade, Encouragement of, 7, 8 ; 
 
 growth of, II ; allegations re- 
 specting, 12; Fair Trade evidence 
 about, 13 ; W. E. Forster on, 17 ; 
 compensations of,
 
 270 
 
 INDEX. 
 
 Colonies, The, and the cultivation of 
 sugar, 177 
 
 , Differential duties for, 53 
 
 and Protection, 45 
 
 , Transfer of trade to, 67 
 
 unable to give England all its 
 
 needs, 60 ; Imperialist proposals, 
 72 
 Commercial treaties and individual 
 dealings, 62 ; with the colonies, 
 74, 79 ; on the basis of the French 
 bargain, 74 ; possible with self- 
 governing independent colonies, 
 75 ; England unable to make any, 
 79 ; arguments against, 89 ; ob- 
 jections to, 207 
 
 depression between 1872 and 
 
 1880, 133 ; subsequent to 1873, 
 
 133 
 Comparison of growth of trade in 
 
 Victoria and New South Wales, 
 
 128, 129 
 Compensation in colonial markets, 
 
 60 
 
 to taxpayers, 99 
 
 Competition, Colonial and foreign, 
 
 60-62 
 
 and retaliation, 193 
 
 Condition of England since 1840, 9, 
 
 270 
 Copper trade in England and the 
 
 United States, 172-175 
 , Production of, in the United 
 
 States, 175 
 Corn, Glut of, 141 
 
 laws abolished, 112 
 
 , Suspension of, 92 
 
 law controversy, 4, 90, 91 
 
 Cosmopolitan and national sentiment 
 
 in trade, 4 
 ' Customs duties on foreign imports, 
 
 lOI 
 
 report in 1881, 14-16 
 
 incomplete, 16 
 
 Union for British Empire, 50 ; 
 
 undesirable, 51 ; contrary to the 
 principle of self-government, 52 ; 
 impracticable, 52, 74 
 
 D. 
 
 Dangers of retaliation, 205 
 
 Deficient production and agricultural 
 
 depression, 30 
 Depression in British shipping, 161- 
 
 163 ; unhealthy competition, 163 
 
 Depression in business, 66 ; effect of on 
 rich and poor, 67 ; at home, 137 ; 
 American railways, 139 ; in iron, 
 139 ; in shipping, 139 
 
 in the United States, 144 ; Mr. 
 
 Forwood on, 144; Mr. McCul- 
 loch's official report on, 144 
 
 Demoralisation of manufacture by 
 foreign competition, 3 
 
 De Tocqueville's prophecy, 160 
 
 Differential duties for colonies, 53 
 
 tax on food, 54 ; effect of, 57 
 
 Difficulties of distinction between food, 
 raw material, and manufactures, 
 83, 85, 120-121 
 
 Duty on French cotton yams, 166 
 
 on salt, 166 
 
 on imports and tariff bargains, 
 
 68 
 
 Duties, Canadian, 60; differential for 
 colonies, 53 ; on colonial produce 
 which must be given up, 76 ; on 
 French animals and corn, 200 ; 
 imposed by France on manufac- 
 tures, 122 ; levied on British pro- 
 duce, 214 ; Lord Sandon's returns 
 of, 40 ; Mr. Talbot's returns of, 
 40 ; rates of (foreign and colonial), 
 41, 236-241 ; ad valorem rates 
 of, 242-245 ; reduction of, pos- 
 sible, 70 ; returns of, 40 ; on 
 sugar, repeal of, 182 
 
 E. 
 
 Ecroyd's, Mr. Farrer, resolution, 6; 
 exposition of Fair Trade pro- 
 gramme, 12, 13 ; assertions, 40 ; 
 on free admission of raw ma- 
 terials, 85 
 
 Effect of an English tax on American 
 corn, 63 
 
 of French indemnity on Germany, 
 
 26, 214 
 
 of Protective duties, 93 
 
 Effects of Free Trade and Protective 
 duties on production, 164 
 
 Emigration to the United States, 148- 
 "150 
 
 Employment in the United States, 150 
 
 England, a lending country, 104 
 
 unable to extend colonial trade, 
 
 181 
 
 England's policy in abolishing Pro- 
 tection, 91 
 
 English goods and retaliation, 192 ;
 
 INDEX. 
 
 271 
 
 diminished sale of, 193; forcing 
 
 competition of, 193 
 English and foreign manufactures 
 
 compared, 119, 120 
 sliipping, value of, 105 
 
 trade before i860, 112; since 
 
 i860, 113 ; from 1879 to 1S84, 
 141 ; compared with other nations, 
 1, 18 ; circuitous character of, 36; 
 in coal and iron, 142 ; in cotton, 
 142 ; pauperism, 143 ; in rail- 
 ways, 142 ; in savings' banks, 
 143 ; in wool, 142 ; supplemented 
 by new inventions, 119 ; iiossible 
 cause of decline of, 38 
 
 Essence of Free Trade doctrine, 120 
 
 Estimated value of Foreign Invest- 
 ments, 105 
 
 Excess of imports, 102 ; Cobden's 
 illustration of, 106 ; Fair Trade, 
 notions about, 103 ; and foreign 
 ploughs, 103 ; about injuring 
 British trade, 103 ; and large pro- 
 duction, 103 
 
 Experience of protection in France, 
 199 ; in the United States, 200- 
 201 ; in Victoria, 128, 129 
 
 Exports of British produce and manu- 
 factures in 1881, 14 
 
 to British colonies, 15-19, 23- 
 
 25, 264-267 
 
 to Australia, 16, 17 
 
 to British America, 16 
 
 from United Kingdom, 216, 
 
 217; details of, 220-25 ; value of, 
 249-254 ; proportion of, 255 ; of 
 domestic produce from England, 
 121 
 
 , English, to foreign countries 
 
 for 40 years, 19 ; for 25 years, 20 ; 
 for 15 years, 23 
 
 of France, 122, 233 
 
 Germany, 123, 231 
 
 India, 234-235 
 
 Canada, 267 
 
 New South Wales, 264 
 
 New Zealand, 267 
 
 Queensland, 265 
 
 South Australia, 265 
 
 Tasmania, 266 
 
 United States, 124-126, 261-263 
 
 ■ Victoria, 264 
 
 West Australia, 266 
 
 of manufactures from Germany, 
 
 Holland and Belgium, 186 
 
 of United States and England 
 
 compared, 125-127 
 
 Failure of Reciprocity negotiations, 
 
 201 
 Fair Trade, Merits of, 9 
 
 and Protection, 286 
 
 and the new colonial policy, 
 
 10-81 
 
 and Reciprocity, 4 
 
 and Retaliation, 4, 82, 210 
 
 evidence of colonial trade, 
 
 53 
 proposals for encouraging 
 
 trade, 53 ; really restrict and 
 
 diminish it, 53 
 
 , Keystone of, 54 
 
 suggests a tax on food, 55 
 
 , Inconsistencies of, 57, 60, 6i 
 
 and commercial treaties, 62 
 
 and American competition, 
 
 64 
 distinction between raw 
 
 materials and manufactures, 83 
 
 , a new definition, 85-86 
 
 , Lord Salisbury on, 86-87 
 
 and excess of imports, 102 
 
 and foreign ploughs, 103 
 
 notions on foreign imports, 
 
 103 ; on French wines and silk, 
 
 195-197 
 
 and consequences of .Re- 
 taliation, 193 ; the case of the 
 West Indian planters, 198 
 
 and the cultivation of sugar, 
 
 177-192 
 
 distinction between producer 
 
 and consumer, 103 
 
 and competition, absurdity 
 
 of, 118 
 
 and large imports, 135 
 
 and emigration, 149 
 
 and one-sided views, 203 
 
 League and Protection, 
 
 identity of, 2 ; programme of, 
 5, 6 ; vagueness of, 7 ; manifesto 
 of, 85 ; and Retaliation, 86 
 
 and the taxed bullock, 99 
 
 proposals answered, 216 ; 
 
 conclusions respecting proposals 
 of, 211 
 Fair Traders, Vagueness of attacks 
 of, I ; policy and arguments of, 
 2 
 
 Questions for, 4, 5, 7, 8 ; 
 
 principles and practice of, 7 
 
 assumptions answered, 8, 50 
 
 and luxuries, 65, 66
 
 272 
 
 INDEX. 
 
 Fair Traders urge Governments to 
 
 check trade, 81 
 propose to tax manufactures, 
 
 82 
 
 to make raw material free 
 of duty, 83 ; to tax foreign pro- | — 
 duce, 100 ; appeal to working ! 
 men, 108 ; on foreign invest- | — 
 ments, m ; on the transfer of | — 
 English capital to foreign rail- | — 
 ways. III ; on agricultural de- : 
 pression, 131 ; on the reversal of — 
 the Free Trade policy, 133 
 
 Federation, Imperial, 7, 17 — 
 
 Fighting hostile tariffs, 90, 92 ; ob- ^ — 
 jections to Fair Trade pro- 
 posals, 93, 99, 102, 108 ; Lord 
 Salisbury's arguments fallacious, 
 93 ; effect of Protection, 93 
 
 Flour and sugar, Duty on French, 
 176 
 
 Food, Tax on, 54, 60 
 
 and where it comes from, 55 
 
 , Cobden on the price of, 58 
 
 , effect of raising price of, 59 
 
 Foreign and colonial trade compared, 
 11-22 ; 213 
 
 proportions of, 20-22, 229 
 
 since 1840, 19 
 
 for twenty-five years, 20 
 
 for fifteen years, 21 
 
 Foreign and English trade compared, 
 118 ; also manufactures, 119- 
 120 
 
 competition and manufactures, 
 
 3, 118 ; and agricultural depres- 
 sion, 131 ; opinion of Josiah 
 Wedgwood thereon, 3 ; of Sir 
 Stafford Northcote, 3, 4 
 
 hides. Importation of, 165 
 
 investments. Estimate of, 105 ; 
 
 effect on English trade, 112 ; on 
 colonial traffic, 67 
 
 trade in British ships, 157 
 
 producer already taxed, 100 
 
 Forster, Mr. W. E. on foreign and 
 colonial trade, 17 
 
 Forwood, Mr. W., on depression in 
 the United States, 144 
 
 France, Trade with, 121-123 
 
 before and since the Treaty of 
 
 i860, 121 
 
 Franklin, Dr., on Protection, 202 
 
 Freedom of Trade, Cobden on, 207 
 
 Free Trade, Principles of, i 
 
 , Benefits of, 114, 117 
 
 , Defence of, 1 
 
 Free Trade, Reaction against, 4 
 
 , Merits of 5, 164 
 
 , Sir R. Peel on, 90-92 
 
 tariff and Protectionists, 
 
 93. 
 
 112 
 
 - induces 
 
 a larger business. 
 
 128 
 
 -, Facts about, 112 
 -, Results of, in England, 113 
 in New South Wales, 114, 
 
 Effects of Art and Science 
 
 on, 115 
 
 116 
 
 Human law, and, 115 
 , what it can do, 115 
 , what it means, 115 
 , its true value, 116 
 
 controversy. Principles of. 
 
 , Competition and, 118 
 
 , Protection, versus, ii6, 118, 
 
 127-129, 201 
 
 the source of prosperity, 
 
 127 
 
 maxim, 130 
 
 , Agricultural depression and, 
 
 132 
 
 and bad seasons, 138 ; 
 
 infringement of principles of, 
 163 ; cultivation of sugar and, 
 177 ; sheet anchor of, 206 
 
 doctrine. Essence of, 120 ; 
 
 summary of, 210 
 
 principles, Cobden on, 212 
 
 Free importation of foreign hides, 
 
 165 
 
 tariffs. Benefit of, 164 
 
 Freights, Question of, 105 
 French bounties on shipping, 163 
 duties on animals and corn, 
 
 200 
 
 indemnity. Effects of, 26, 214 
 
 shipping. Tonnage of, 158 
 
 • Treaty of i860, 112, 121, 204 
 
 wines. Retaliatory duty on, 197 
 
 G. 
 
 German and English trade, 26, 123, 
 
 124 
 Glut of corn, 141 
 Gold, The importance of, in trade, 
 
 135 
 Goldwin Smith, Mr., on the Canadian 
 
 Protective tariff, 203 
 Governments, Effect of, on trade, 211
 
 INDEX. 
 
 273 
 
 H 
 
 Human consumption and the means 
 
 of production, 85 
 History of Protection in France, 199 ; 
 
 in the United States, 200 
 Historical facts mis-stated respecting 
 
 Free Trade, 2 
 Home taxation, 99 
 Hostile tariffs and free imports 92 ; 
 
 fallacies of the arguments, 92 ; 
 
 objections to, 99, 102, 108 
 
 I. 
 
 Mr. W. E. 
 
 264 
 
 Imperial federation, 
 
 Forster on, 17 
 Imperial ZoUverein, Basis of an, 71 
 Imperialism from a colonial point of 
 
 view, 71 ; benefit of, 71 ; position 
 
 of the colonies under, 72-73 
 Imports in Canada, 267 
 of colonial produce, 77-78 ; Fair 
 
 Trade notions about, 102-103 ; 
 
 ■, Growth of colonial, 104 
 
 of England from all sources, 
 
 218 
 
 , Value of, 219 
 
 , Details of, 226-228 
 
 in America, 65 
 
 in France, 121, 122 
 
 in Germany, 231 
 
 in India, 234-235 
 
 in New South Wales, 
 
 in New Zealand, 267 
 
 in Queensland, 265 
 
 in South Australia, 265 
 
 in Tasmania, 266 
 
 in Victoria, 264 
 
 in Western Australia, 266 
 
 of sugar from Belgium, Germany, 
 
 and Holland, 186 
 
 duty, rates of, 236-241 
 
 , ad valorem, rates of, 242, 
 
 243 
 
 Interest on foreign investments and 
 the supply of luxuries, 64 
 
 Investment of English capital abroad, 
 108 ; its effect on home trade, 
 108 ; on the exports by which the 
 investment is made, 109 ; possible 
 disadvantage of, iii 
 
 Keystone of Fair Trade proposals, 54 
 S 
 
 Labour market in the United States, 
 
 151 
 
 Landed interest and agricultural de- 
 pression, 131 
 
 Large exports and high prices, and 
 their influence on prosperity, 135 
 
 imports and large production, 
 
 value of, 104 
 
 Leather market, Increase of, 164 
 
 , Tanning of, 165 
 
 Lloyd's, Mr. .Sampson, letters, 6, 85, 
 108 ; the taxed bullock, 99 
 
 Lord .Salisbury on Fair Trade, 86, 87 ; 
 arguments of, fallacious, 92 
 
 Losses of farmers. Causes of, 130 
 
 Lowered prices, 130 
 
 Luxuries of the rich, 65* 
 
 of the people, 66 
 
 M. 
 
 Manufactured articles, 84 
 Mauritius and cane sugar, 189 
 McCuUoch, Mr., on trade in the 
 United .States manufactures, 145 
 Morley's " Life of Cobden," 206 
 " Most Favoured Nation" clause. 79- 
 81 ; sheet anchor of Free Trade, 
 206 ; difficulty of application to 
 colonies, 79 ; natural difficulties 
 in the way, 80 ; artificial diffi- 
 culties, 80 
 
 N 
 
 National decay, .Advocates of, 8 
 
 sentiment in trade, 4 
 
 statistics. Comparison of, 117 
 
 Navigation laws, effect of, on trade, 
 
 63 ; repeal of, 112 
 New colonial policy, io-8i ; its object 
 
 and scope, 211 ; conclusions 
 
 thereon, 81, 211 
 New South Wales, Statistics of, 264 
 New Zealand, Statistics respecting, 
 
 267 
 Newton, Mr., on Protective remedies. 
 
 O. 
 
 Open markets and direct imports, 98 
 Origin of the Corn-law agitation, 90 ; 
 
 debates of 1843 and 1844, 91-92 
 Outgoings on ships, 105
 
 274 
 
 INDEX. 
 
 Pall Mall Gazette on Protection, 89 
 
 " Pious'' notions about Free Trade, 4 
 
 Population of Canada, 267 ; Victoria, 
 264 ; New South Wales, 264 ; 
 Queensland, 265 ; Western Aus- 
 tralia, 266 ; Tasmania, 266 ; New 
 Zealand, 267 ; South Australii, 265 
 
 Position of a free trade country in the 
 midst of Protectionism, 93 
 
 Price of food, Effect of raising the, 59 
 
 of raw material, 134 
 
 Progress of England continuous, 8 
 
 Prohibition in England, 112 
 
 strength of, 199 
 
 and Protection, Distinction be- 
 tween, 114 
 
 Proportion of foreign and colonial 
 trade, 20, 229 
 
 Proposal to tax manufactures, 83 
 
 Proposed tax on food, 54 
 
 Prosperity and growth of English 
 trade, 116 
 
 of trade in other nations, 116 
 
 Causes of, in the United Stales, 
 
 126 
 
 Free Trade, source of, 127 
 
 of 1873 exaggerated, 134 
 
 temporary causes of inflation, 
 
 134 
 Protected interests. Strength of, 199 
 Protection in England, Advocates for, 
 
 112, 201 
 Protection inflicts loss, 100 ; mischief 
 of, 156 ; a vicious circle, 198 ; 
 hopeful tendencies of, 211 ; com- 
 petition and, 118 ; in checking 
 the too excessive development of 
 agriculture, 197 
 
 , Lord Salisbury on, 86, 87 
 
 , Pall Mall Gazette on, 89 
 
 , Mr. Ricardo on, 91, 102 
 
 , Dr. Franklin on, 202 
 
 , Fair Trade and, 2 ; manufac- 
 tures and, loi ; in Austro-Hun- 
 gary, 42; Belgium, 42 ; Denmark, 
 
 43 ; France, 42, 199 ; Holland, 
 42 ; Germany, 42 ; Italy, 43 ; 
 Portugal, 44 ; Russia, 41 ; Spain, 
 
 44 ; Norway, 43 ; .Sweden, 43 ; 
 United States, 45, 114, 151-156 ; 
 Canada, 47 , Ceylon, 49 ; India, 
 49 ; Cape of Good Hope, 49 ; 
 Mauritius, 49 ; New South Wales, 
 
 45 ; New Zealand, 46 ; Queens- 
 land, 46 ; South Australia, 46 ; 
 
 Tasmania, 46 ; West Australia, 
 46 ; West Indies, 49 ; Victoria, 
 46, 128 
 Protection in the colonies, 45-50 ; in 
 
 foreign countries, 40-45 
 Protectionists, Attacks of, i 
 and Cobden, 59 ; masquerad- 
 ing as Free Traders, 177 ; Fair 
 Traders and, 62 ; urge Govern- 
 ments to prevent trade, 81 
 Protective duties, 12,- 40; of Canada, 
 32 ; rates of, 41 
 
 remedies for sugar, 189 
 
 tariffs, impediments to trade, 
 
 93 ; evil effects of, 25, 92-98, 
 114; cripples industry, 128; war 
 and, 141 
 Public debt of Canada, 267 
 
 New South Wales, 264 
 
 New Zealand, 267 
 
 — Queensland, 265 
 
 Tasmania, 266 
 
 South Australia, 265 
 
 Western Australia, 266 
 
 Victoria, 264 
 
 Queensland, statistics respecting, 265 
 Questions for Fair Traders, 4, 5 
 
 R. 
 
 Railway and shipping interests, 161 
 Raw material or "raw produce," 83- 
 
 85 ; new definition of, 85 
 Recognised principle of Free Trade, 
 
 I ; defence of, i 
 Reciprocity and Retaliation, 88 ; 
 
 dangerous weapons, 204 ; Mr. 
 
 Disraeli on, 91 ; Mr. Cobden on, 
 
 106-107 
 
 negotiations, failure of, 201 
 
 or Fair Trade, 4 
 
 treaty with Canada and United 
 
 States, 202 
 Reciprocitarians, i 
 Relieving English taxpayers at the 
 
 foreigner's expense, 102 
 Retaliation, Policy of, 48, 82-210 
 
 ■ arouses antagonism, 199 
 
 on manufactured goods, 82 
 
 , proposals for, 86 
 
 , Arguments in favour of, 86 
 
 , Lord Salisbury on, 86, 87
 
 INDEX. 
 
 275 
 
 Retaliation, Pall Mall Gazelle on, 89 
 
 , Reckless advocates of, 90 
 
 , Fallacies of the policy of, 92 
 
 • urged against sugar bounties, 
 
 187-194 ; contrary to the spirit of 
 the ' ' most favoured nation " treat- 
 ment, 191 
 
 , Consequences of, 193, 194 
 
 ■ Diminished sale of English 
 
 goods, 193 ; stimulus to compe- 
 tition taken away, 193 ; protected 
 interests would become worse, 
 193 ; confusion at Customs House 
 and expenses of collection, 194 ; 
 French silks, 195 ; French wine, 
 197; produces Retaliation, 199; 
 Cobden's treaty and, 204 ; dangers 
 of, 205 ; conclusions respecting, 
 209 ; bad in spirit and in effect, 
 211 
 Retaliatory duties. Effect of, 192- 
 
 197 
 Revenue duties in the colonies, 70 
 Ricardo school, The, 90 
 Ricardo, Mr., on the Corn Laws, 91, 
 
 202 
 Rise of rent and wages, 130 
 
 S. 
 
 Salt, French duty on, 166 
 
 Self-taxation and self-government, 52 
 
 Sheet anchor of Free Trade, 206 
 
 Shipping of the United Kingdom, 
 156-163 ; tonnage of the, 157 ; 
 PYench, 158 ; United States, 
 158, 159; rivals of England, 
 159 ; present state of American 
 and British, 161 ; depression in 
 British, 162 ; Royal Commission 
 on, 163 
 
 and the railways, i6t 
 
 Silk, French duty on, 166 
 
 South Australia, Statistics respecting, 
 265 
 
 Statistical Society, Mr. Newmarch's 
 address at, 120, 121 
 
 Statistics imperfect as a balance of 
 trade, 104 
 
 of English trade compared with 
 
 those of other nations, 118; of 
 the United Kingdom since 1840, 
 268; of export, including freiglit, 
 210 ; of France, Germany, and 
 the United States, 121 
 
 founded on prices, misleading, 
 
 134 
 
 Statistics respecting population, public 
 debt, and trade in N'ictoria, 264 ; 
 New South Wales, 264 ; Queens- 
 land 265 ; .South .-Xustralia, 265 ; 
 New Zealand, 267 ; Western 
 .Australia, 266 ; Tasmania, 266 ; 
 Dominion of Canada, 267 
 
 Steel rails in the United States, 171 ; 
 imports of, 172 
 
 Sugar, and how it is paid for, 27, 188 ; 
 duty repealed, 112, 182; im- 
 portance of, 177 ; slavery and 
 the growth of, 177 ; development 
 of colonial empire and the cultiva- 
 tion of, 177 ; cane and beet, 178 ; 
 England's share in the consump- 
 tion of, 178 ; consumption of, in 
 the United States, 179; France 
 and Germany, 179 ; as food, 180 ; 
 as raw material, 180; foreign 
 refined, 181 ; benefits of free im- 
 portation of, 181 ; taxation of, 
 181 ; drawback on exportation 
 of, 181 ; repeal of duties on, 182 ; 
 results of repeal of duties on, 182 ; 
 West Indian planters and the 
 cultivation of, 187-188 ; causes of 
 the growth of beet, 188 ; supplies 
 of cane and beet, 189 
 
 imports from Belgium, 186 ; 
 
 Holland, 186 ; Germany, 186 
 
 market. Retaliation, restricted 
 
 trade in the, 188 ; effect of re- 
 taliatory duties on the, 191 
 
 ■ tax in Germany, 183 ; in Austro- 
 
 Hungary, 184 ; Brazil, 185 ; 
 Belgium, 185; France, 184; Hol- 
 land, 185; New Zealand, 185; 
 United States, 185 ; foreign Go- 
 vernments and the, 186 ; effect 
 of the, 191 
 
 T. 
 
 Tanned leather, 165 
 
 Tariff bargains with colonies, 68 ; im- 
 practicability of, 68 ; bad effect 
 of, 69 ; difficulty in the way 
 of making, 7074 ; arguments 
 against, 89 
 
 , Canadian, 34, 60, 177 
 
 - — , United States, 62 
 
 , French, on manulactures, 122 
 
 Refonns, Sir R. Peel's, 112 
 
 Tariffs lower since i860, 114 
 
 and wars, 141
 
 276 
 
 INDEX. 
 
 Tariffs, Protective, barriers to progress, 
 93 ; evils of, 95-98 ; the United 
 States an example thereof, 114 
 
 Taussig's " History of the United 
 States Tariff," 168-172 
 
 Tasmania, Statistics respecting, 266 
 
 Tax on food. Proposed, 55 ; objec- 
 tions to, 56 ; effects of, 56-58 
 
 on foreign imports. Proposed, 
 
 99 ; impracticable and absurd, 
 101 
 
 Taxation requires to be equalised, 
 100 
 
 Taxing American corn, and its effect 
 on English manufactures, 63 
 
 foreign manufactures, 69 
 
 Trade, English, since 1840, 19, 268 ; 
 for twenty-five years, 20 ; for 
 eighteen }'ears, 21-23 ! with 
 Australia, 34, 128 ; Belgmm, 27 ; 
 Brazil, 30; British North America, 
 5, 32 ; China, 31 ; Canada, 127, 
 267 ; Colonies, 5 ; Chili, 31 ; 
 Egypt, 29 ; Germany, 26, 123- 
 124 ; France, 28 ; Holland, 26 ; 
 India, 36, 37 ; Italy, 28 ; Japan, 
 31 ; Peru, 31 ; South Africa, 35 ; 
 Turkey, 29 ; United States, 29, 
 124, 125, 167-175 ; West Indies, 
 34 
 
 Transfer of trade to colonies and in- 
 vestments, 67 
 
 Treaties, Actual consequences of, 207 ; 
 objections to, 207 ; Cobden's 
 views upon, 207; result of foreign, 
 207 
 
 U. 
 
 Union, Customs, proposed for Eng- 
 land, 50-52, 74 
 
 United States, Trade in, 29, 124, 125; 
 depression in, 144 ; agriculture in 
 the, 145 ; railways in the, 146 ; 
 bankruptcies in the, 146 ; liquida- 
 tions in, 147 ; clearing-house 
 
 business, 148 ; emigration to. 
 148-150 ; employment of labour 
 in, 150 ; reduction of workmen 
 in, 151-156 ; effect of produc- 
 tion in, 155 ; shipping interests, 
 158; "carriers of the world," a 
 prophecy, 160 ; duty on wool, 
 clocks, and steel rails, 168-171 ; 
 production of copper in, 172- 
 175 ; exports of, 261-264 ; im- 
 ports, 65 ; evils of Protection of 
 in the, 45, 93, 114 ; Reciprocity 
 in the, 202 ; trade with the, 124, 
 125, 167-175 ; Protective tariffs 
 on the, 114 ; Taussig's " History 
 ofthe Tariff," 168-172. 
 
 V. 
 
 Victoria, Statistics respecting, 264 
 
 W. 
 
 Wars and Protective tariffs, 141 
 
 Wedgwood, Josiah, on foreign com- 
 petition, 3 
 
 West Australia, Statistics respecting, 
 266 
 
 West Indian sugar planters' foreign 
 bounties, 187-188 ; Protective 
 remedies delusive, 189 ; sugges- 
 tions for relief, 190 
 
 West Indian sugar, English and 
 colonial interests in, 190 ; change 
 of English fiscal system unneces- 
 sary, 190 
 
 Wine Duties Committee, The, 79 
 
 Wine duties at the Cape and Aus- 
 tralia, 79 
 
 Wire, Importation of foreign, 176 
 
 Zollverein, Imperial, Basis of, 71 
 
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