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port all we require from abroad! ««• The shares of the leading flaxbut what then becomes of the free- mills in Germany are 20 and 22 per trade contention, that every export cent above par. The shares of the of goods must be balanced by an

ten principal fax-mills in Belfast are

58 per cent below par.'—Nineteenth import of goods ?"

Century." If further evidence were wanted of the utter collapse of the system, In 1886 the firm of Messrs it is furnished in the ever-increas- Marshall & Co., established 100 ing nuinber of manufacturing cap- years ago in Holbeck, Leeds, and italists who have, in recent years, the largest flax-spinners in Europe, been driven by it to seek in foreign owing to keen competition from countries the fair play they are abroad, closed their works, and denied at home. Mr Porter, of have gone to establish new mills in the United States Tariff Commis- Massachusetts

, taking with them sion, tells us :

their capital and many of their I found shoddy manufacturers old hands. They employed 4000

. from Batby and Dewsbury established workmen, who are thus thrown in Aachen, Prussia ; Lancashire and out of employment. It is said Scottish spinners in Rouen; Leicester- seventy millions of yards of linen shire hosiery manufacturers in Saxony; were spun daily in their works. Yorkshire wool-combing establishments When Germans read of this disin Rheims; Dundee jute-mills in Dunkerque; all-wool-stuff manufacturers in placement of home produce by Roubair ; English iron and steel mills theirs, and see so many of our in Belgium; and English woollen mills captalists with their works in the in Holland. Removing English capital Fatherland, how they must smile to the Continent has secured a profitable at the homilies we address to them home market, while England was near

on the folly of protection !1 Mr with widely open ports to serve as a

Jacoby, M.P., another manufacdumping ground, to unload surplus goods made by foreign labour superin- turer who has opened a branch in tended by English skill. In this way Germany, said in a recent speech the English markets are swamped, and at Alfreton—" When Prince Bisher labour undersold. Let English marck put up the duties on cotton authorities tell the result.

goods and lace curtains, it was im««• During the last twenty years of this century the linen industry of possible for these goods to be made Germany has increased 300 per cent.'

in Nottingham, I therefore opened -MULHALL.

a house in Germany;" on which «• During the last twenty years the the • Times' remarked—“Owing linen industry of Great Britain has to foreign duties, it is more profitdecreased 18 per cent.'—Nineteenth able to send Nottingham machines Century,' June 1883.

abroad and work them there, than “During the last ten years the to continue working them at home.” exports of linen yarn from England Here is an actual free-trader, who have decreased steadily every year, until they are less than a half of what represents in the British Parliathey were a decade ago.'— British ment a constituency of working Statistical Abstracts,' 1882.

men, employing foreign labour, to

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1 When Sir John Macdonald was in England, he was waited on by a body of gentlemen who were anxious Canada should revert to a free-trade policy. After patiently hearing them to the end, he said, “I know Canada; you do not. I know the marvellous change which has occurred since she adopted a tariff;" and when concluding, he told them that “the proposals of the Fair Trade League to have free trade with our colonies and dependencies, and protection against the rest of the world, were in the highest sense patriotic.”

the interest on loans, and divi- light. Suppose the great American dends on British investments in millionaire Mr Vanderbilt had been foreign countries, estimated at

able and willing to buy the entire Isle 60 millions; and as, of course,

of Man, and built himself a palace they do not do so in specie, the luxury, importing everything that

there, and lived a life of opulence and excess of their export over what such a life demanded from England or we send them, plus the charges from abroad. If he lived there to the and profit, if any, is merely a re- age of Methuselah, what was there to mittance in payment of a debt due prevent his spending his vast income for something else. Driven from in the purchase of foreign imports, , their position by such figures as goods, paying his way by bills drawn

without exporting a single bale of these, one-sided free-traders contend that, let that be as it may, of the New York Central Railroad?”

on America, representing the earnings the growing excess of the import over the export, inasmuch as it Having regard to the interest of shows foreign countries are getting the working classes, what does the more and more indebted to us, decrease in the export, and rapid only points to increased national increase in the import of manuwealth. Is this certain ? Is there factured goods, but too clearly not strong reason to believe that point to ? It points to diminished we have, as Mr. Medley appears work for them. That America for to admit in his controversy with instance, aided by her protective Lord Penzance, been recently part- system, and assisted by British ing with foreign securities ? but capital, the interest on which she whether or not, it is not with the pays by enormous importations of accumulation of wealth in the grain as well as manufactures, is hands of a few we are here con- not only manufacturing for herself cerned, but with industrial pro- much she formerly took from us, gress and the wellbeing of the but is sending, in spite of having to masses. Lord Penzance, in his pay double what we do for labour, reply to Mr. Medley in the · Nine- her manufactures to compete with teenth Century' of last September, ours, and that successfully, in our shows the absurdity of our trying home and foreign markets ! A to persuade ourselves that accumu- startling and flat contradiction to lation of wealth (if indeed it be the dictum of the Cobden school, accumulating) from such sources " that duties imposed for the prois indicative of increased national tection of home industries, increase prosperity. He says : -

the cost of production, and make it

more difficulty for us to compete Imports are paid for, he (Mr with foreign producers ;" for be it

. Medley) says, either by the export of observed, it is only since American merchandise or by securities. Be it industries have öeen by a high tariff so. In the word 'security’he includes, I presume, bills of exchange, which i protected, they have been able to have shown to be the ordinary method compete with ours. If the excess of payment in point of fact, and then of the import over the export is a what does it all come to? Why, no- certain proof of increasing national thing but this; that imports are paid wealth, it follows that the greater for somehow, either by goods or se

the excess, the greater should be curities, or something of value. All this is plain and simple enough as a

the amount of that wealth, and matter of reasoning and experience, that we shall only have attained but let me imagine a state of things the zenith of our prosperity when which will illustrate it in a practical we have ceased to export, and im

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port all we require from abroad! «« The shares of the leading flaxbut what then becomes of the free- mills in Germany are 20 and 22 per trade contention, that every export

cent above par. The shares of the of goods must be balanced by an

ten principal fax-mills in Belfast are import of goods ?"

58 per cent below par.'—Nineteenth

Century."" If further evidence were wanted of the utter collapse of the system,

In 1886 the firm of Messrs it is furnished in the ever-increas- Marshall & Co., established 100 ing nuinber of manufacturing cap- years ago in Holbeck, Leeds, and italists who have, in recent years, the largest flax-spinners in Europe, been driven by it to seek in foreign owing to keen competition from countries the fair play they are abroad, closed their works, and denied at home. Mr Porter, of have gone to establish new mills in the United States Tariff Commis- Massachusetts, taking with them sion, tells us :

their capital and many of their " I found

shoddy manufacturers old hands. They employed 4000 from Batby and Dewsbury established workmen, who are thus thrown in Aachen, Prussia; Lancashire and out of employment. It is said Scottish spinners in Rouen; Leicester- seventy millions of yards of linen shire hosiery manufacturers in Saxony; were spun daily in their works. Yorkshire wool-combing establishments in Rheims; Dundee jute-mills in Dun- When Germans read of this diskerque; all-wool-stuff manufacturers in placement of home produce by Roubaix ; English iron and steel mills theirs, and see so many of our in Belgium; and English woollen mills captalists with their works in the in Holland. Removing English capital Fatherland, how they must smile to the Continent has secured a profitable at the homilies we address to them home market, while England was near

on the folly of protection !! Mr with widely open ports to serve as a * dumping ground, to unload surplus Jacoby, M.P., another manufac

' goods made by foreign labour superin- turer who has opened a branch in tended by English skill. In this way Germany, said in a recent speech the English markets are swamped, and at Alfreton—“When Prince Bisher labour undersold. Let English marck put up the duties on cotton authorities tell the result.

goods and lace curtains, it was im". During the last twenty years of possible for these goods to be made this century the linen industry, of in Nottingham, I therefore opened Germany has increased 300 per cent.' - MULHALL.

a house in Germany;" on which "• During the last twenty years the the Times' remarked—“ (wing linen industry of Great Britain has to foreign duties, it is more profitdecreased 18 per cent.'—Nineteenth able to send Nottingham machines Century,' June 1883.

abroad and work them there, than “During the last ten years the to continue working them at home.” exports of linen yarn from England Here is an actual free-trader, who have decreased steadily every year, until they are less than a half of what represents in the British Parliathey were a decade ago.'— British ment a constituency of working Statistical Abstracts,' 1882.

men, employing foreign labour, to

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1 When Sir John Macdonald was in England, he was waited on by a body of gentlemen who were anxious Canada should revert to a free-trade policy. After patiently hearing them to the end, he said, “I know Canada; you do not. I know the marvellous change which has occurred since she adopted a tariff;” and when concluding, he told them that “the proposals of the Fair-Trade League to have free trade with our colonies and dependencies, and protection against the rest of the world, were in the highest sense patriotic.”

a

the interest on loans, and divi- light. Suppose the great American dends on British investments in millionaire Mr Vanderbilt had been foreign countries, estimated at

able and willing to buy the entire Isle 60 millions; and as, of course,

of Man, and built himself a palace they do not do so in specie, the luxury, importing everything that

there, and lived a life of opulence and excess of their export over what such a life demanded from England or we send them, plus the charges from abroad. If he lived there to the and profit, if any, is merely a re- age of Methuselah, what was there to mittance in payment of a debt due prevent his spending his vast income for something else. Driven from in the purchase of foreign imports, their position by such figures as

without exporting a single bale of these, one-sided free-traders con

goods, paying his way by bills drawn tend that, let that be as it may, of the New York Central Railroad?”

on America, representing the earnings the growing excess of the import over the export, inasmuch as it Having regard to the interest of shows foreign countries are getting the working classes, what does the more and more indebted to us, decrease in the export, and rapid only points to increased national increase in the import of manuwealth. Is this certain? Is there factured goods, but too clearly not strong reason to believe that point to ? It points to diminished we have, as Mr. Medley appears work for them. That America for to admit in his controversy with instance, aided by her protective Lord Penzance, been recently part- system, and assisted by British ing with foreign securities ? but capital, the interest on which she whether or not, it is not with the pays by enormous importations of accumulation of wealth in the grain as well as manufactures, is hands of a few we are here con- not only manufacturing for herself cerned, but with industrial pro- much she formerly took from us, gress and the wellbeing of the but is sending, in spite of having to

Lord Penzance, in his pay double what we do for labour, reply to Mr. Medley in the · Nine- her manufactures to compete with teenth Century' of last September, ours, and that successfully, in our shows the absurdity of our trying home and foreign markets ! A to persuade ourselves that accumu- startling and flat contradiction to lation of wealth (if indeed it be the dictum of the Cobden school, accumulating) from such sources “that duties imposed for the prois indicative of increased national tection of home industries, increase prosperity. He says :

the cost of production, and make it

more difficulty for us to compete " Imports are paid for, he (Mr with foreign producers ;" for be it Medley) says, either by the export of observed, it is only since American merchandise or by securities. Be it industries have seen by a high tariff so. 'In the word security’he includes, I presume, bills of exchange, which I protected, they have been able to have shown to be the ordinary method compete with ours.

If the excess of payment in point of fact, and then of the import over the export is a what does it all come to? Why, no- certain proof of increasing national thing but this; that imports are paid wealth, it follows that the greater for somehow, either by goods or securities, or something of value. All the amount of that wealth, and

the excess, the greater should be this is plain and simple enough as a matter of reasoning and experience, that we shall only have attained but let me imagine a state of things the zenith of our prosperity when which will illustrate it in a practical we have ceased to export, and im

masses.

port all we require from abroad ! «« The shares of the leading flaxbut what then becomes of the free- mills in Germany are 20 and 22 per trade contention, that every export cent above par. The shares of the

ten principal fax-mills in Belfast are of goods must be balanced by an

58 per cent below par.'—Nineteenth import of goods ?"

Century.” If further evidence were wanted of the utter collapse of the system, In 1886 the firm of Messrs it is furnished in the ever-increas- Marshall & Co., established 100 ing nuinber of manufacturing cap- years ago in Holbeck, Leeds, and italists who have, in recent years, the largest Aax-spinners in Europe, been driven by it to seek in foreign owing to keen competition from countries the fair play they are abroad, closed their works, and denied at home. Mr Porter, of have gone to establish new mills in the United States Tariff Commis- Massachusetts, taking with them sion, tells us :

their capital and many of their I found shoddy manufacturers old hands.

They employed 4000 from Batby and Dewsbury established workmen, who are thus thrown in Aachen, Prussia; Lancashire and out of employment. It is said Scottish spinners in Rouen; Leicester- seventy millions of yards of linen shire hosiery manufacturers in Saxony; were spun daily in their works. Yorkshire wool-combing establishments When Germans read of this disin Rheims; Dundee jute-mills in Dunkerque; all-wool-stuff manufacturers in placement of home produce by Roubaix ; English iron and steel mills theirs, and see so many of in Belgium ; and English woollen mills captalists with their works in the in Holland. Removing English capital Fatherland, how they must smile to the Continent has secured a profitable at the homilies we address to them home market, while England was near on the folly of protection !! Mr with widely open ports to serve as a ''

dumping ground, to unload surplus Jacoby, M.P., another manufacgoods made by foreign labour superin- turer who has opened a branch in tended by English skill. In this way Germany, said in a recent speech the English markets are swamped, and at Alfreton— “When Prince Bisher labour undersold. Let English marck put up the duties on cotton authorities tell the result.

goods and lace curtains, it was im". During the last twenty years of possible for these goods to be made this century the linen industry of Germany has increased 300 per cent." in Nottingham, I therefore opened -MULHALL.

a house in Germany; ” on which “During the last twenty years the the • Times' remarked—“ (wing linen industry of Great Britain has to foreign duties, it is more profitdecreased 18 per cent.'—Nineteenth able to send Nottingham machines Century,' June 1883.

abroad and work them there, than “During the last ten years the to continue working them at home.” exports of linen yarn from England Here is an actual free-trader, who have decreased steadily every year, until they are less than a half of what represents in the British Parliathey were a decade ago.'— British ment a constituency of working Statistical Abstracts,' 1882.

men, employing foreign labour, to

our

1 When Sir John Macdonald was in England, he was waited on by a body of gentlemen who were anxious Canada should revert to a free-trade policy. After patiently hearing them to the end, he said, "I know Canada; you do not. I know the marvellous change which has occurred since she adopted a tariff;” and when concluding, he told them that “the proposals of the Fair-Trade League to have free trade with our colonies and dependencies, and protection against the rest of the world, were in the highest sense patriotic.”

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