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CHAPTER XVIII

PROTECTION AND FREETRADE

Manufactured goods are kept out of countries by protective tariffs. — Tariffs do not always show the same effect everywhere. As a rule, however, in very large countries, like Russia and the United States, and to a great extent Germany, they have developed industry, that is to say they have enriched the proprietors of industries; on the whole, the mob, that is the labourers,are not very much better off than they were; not to anything like the same extent as the capitalists, but still to some extent, in accordance with the benefits they derive from labour organisation, social laws etc., in accordance, in fact, with the degree to which they have contrived to induce their employers to share profits with them.

It is quite superfluous here to discuss the merits of Free Trade and of Protection foranyparticular country. We have to deal with facts. The fact is that almost all Governments have adopted Protective Tariffs. They think that they are better off with them. But we have to put on record, that Free Trade if adopted universally, is now generally admitted to be by far

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