Supposing people in this country had never heard of foreign wine, but
had to make their wine out of their own grapes grown in hot-houses,
and at great expense, the wine coming, let us say, to £1 a gallon.
Meanwhile we are producing easily great quantities of coal because
we have great coal-mines near the surface. We come to hear of people
living in another climate who can grow grapes easily in the open,
who need much less labour and capital to ripen them than we do in
our artificial way in hot-houses, and who can therefore send us wine
at 10s. a gallon. Then we can get for each £1 worth of labour and
capital twice as much wine as we got before. Instead of wasting our
time artificially growing grapes in hot-houses to make our wine, let
the people who used to work in the hot-houses become coal-miners,
so that more coal may be produced and this extra coal exchanged for
foreign wine. A pound’s worth of labour and capital in coal will get
us 2 gallons of wine from the foreigner when the same amount of labour
and capital used in making the wine ourselves would only get us one
gallon. Let the capital that used to keep up the hot-houses be spent in
developing mines, and we shall find as a result that we are as rich as
ever we used to be in coal and richer in wine. Our total wealth will
be increased.
In the particular case of the English dispute about Free Trade and
Protection not wine but a much more important thing was concerned,
namely food; and that was what gave the political discussion its
practical value and made it so violent. It is also because food was in
question that the Free Traders won, and that England was, for a whole
lifetime, up to the Great War, a Free Trade country--that is, a country
allowing all foreign produce to come in and compete on equal terms with
home produce.
Public-domain text, read in full here on John Shaqi.
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