averment is, that, with the exception of the agricultural producers,
among whom they allow that a certain degree of distress prevails,
all other classes of the community are prosperous. Even for the
agriculturists there is balm in store. The prosperity of the other
classes is to react upon them; so that, within some indefinite
period of time, we shall all find ourselves in circumstances of ease
and comfort which have hitherto been unknown in our land.
With you the benefit is represented, not as prospective, but as
present. The agriculturist may have to wait a little longer, but you
are already provided for. Your cake is baked; and we are assured
that you are eating it in thankfulness and joy. If this is really
the case, there is no more to be said on the subject. If the harvest
of Free Trade has actually yielded you such a large measure of
profit, it would be madness in anyone to decry that line of policy
in your hearing. You constitute the class which, from its peculiar
position and vocation, is better qualified than any other to judge
accurately, and from experience, of the degree of prosperity which
is actually known in the country. The verdict of twelve shopkeepers,
given after an inspection of their books for an average of years,
ought to be of more weight, in settling the merits of any disputed
commercial question, than the random assurances of a dozen cabinet
ministers whose reputation and official existence are bound up in
the vindication of their own policy. The reason of this is perfectly
obvious. Your profit is simply a commission upon your sales. You
do not produce or manufacture articles of consumption--you simply
retail them. Your profit depends upon the briskness of trade, that
is, the amount of demand. It rises or falls according to the general
circumstances of your customers. In good times you make large
profits; in bad times those profits decrease. One while your stock
sells off rapidly; at another, it remains upon your hands. Your
interest is inseparable from that of the great body of consumers by
whom you live. You have little or nothing to do with the foreign
trade; for, whatever be the nature, of the articles in which you
deal, you sell them in the home market. You have, therefore, the
best opportunity of estimating the real condition of your customers.
The state of your own books, and the comparative degree of ease or
difficulty which you experience in the collection of your accounts,
furnish you with a sure index of the purchasing power of the
community. Compared with this criterion, which is common to every
man among you, tables of exports and imports, statements of bank
bullion, and such like artificial implements as have been invented
by the political impostors and economists, are absolutely worthless.
When our sapient Chancellor of the Exchequer, or Mr Labouchere,
tell you, with an air of unbounded triumph, that the exportation
of calicoes to China or Peru has mightily increased--and therefore
Public-domain text, read in full here on John Shaqi.
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