Economists -- Great Britain -- Biography; Smith, Adam, 1723-1790
Before he can say precisely what the Irish Parliament means by a free
trade, he must see the heads of the proposed bill. If it is only freedom
to export, nothing could be more just and reasonable. If it is freedom
to import, subject only to their own customs’ duties, that again is
perfectly reasonable, though it would “interfere a little with some of
our paltry monopolies.” If they wish to be allowed to trade freely with
the American and African plantations, that also should be conceded. It
would interfere with some monopolies, but would do no harm to Great
Britain. Lastly, they might mean to demand a free trade with Great
Britain. “Nothing, in my opinion, would be more highly advantageous to
both countries than this mutual freedom of trade. It would help to break
down that absurd monopoly which we have most absurdly established
against ourselves in favour of almost all the different classes of our
own manufacturers.” Dundas had hinted that the two Parliaments might be
reconciled by a proper distribution of loaves and fishes. Smith did not
shrink at all from promoting a good policy by what was then the ordinary
method of promoting a bad policy:—
“Whatever the Irish mean to demand in this way, in the present
situation of our affairs I should think it madness not to grant it.
Whatever they may demand, our manufacturers, unless the leading and
principal men among them are properly dealt with beforehand, will
probably oppose it. That they may be so dealt with I know from
experience, and that it may be done at little expense and with no
great trouble. I could even point to some persons who, I think, are
fit and likely to deal with them successfully for this purpose. I
shall not say more upon this till I see you, which I shall do the
first moment I can get out of this Town.”
A week later Smith repeated his argument with some additions and
modifications in a letter of November 8th to Lord Carlisle, who then
presided over the Board of Trade. He maintains that “a very slender
interest of our own manufacturers is the foundation of all these unjust
and oppressive restraints,” and ridicules “the watchful jealousy of the
monopolists, alarmed lest the Irish, who have never been able to supply
completely even their own market with glass or woollen manufactures,
should be able to rival them in foreign markets.”
Public-domain text, read in full here on John Shaqi.
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