(_b_) There was another kind of Protectionist who said: “You Free
Traders take for granted, and depend upon, one capital point, to wit,
_that the labour now employed in a particular form of production, and
the capital employed in it, both of which will be destroyed by Free
Trade, can be used more profitably in some other form of Production_.
But we, the Protectionists, say that, in the particular case in
question, they would _not_ be used more profitably. We say that, in
point of fact, things being as they are, the national character being
what it is, the arrangements of our English society and its traditions
being what we know them to be, the ruined industry will go on getting
worse and worse, artificially supported by relief from the community
outside it, the farmer losing year after year and still hanging on, the
land going back to weeds and marsh, the buildings falling down, and so
forth. _We_ say that, though it may theoretically be possible to use in
other ways the labour and capital thus displaced, in practice you will
destroy more wealth than you will create.”
These two kinds of arguments on the Protectionist side are still to be
heard everywhere to-day.
It ought to be perfectly clear to anyone who thinks about the matter
at all that argument (_a_) was nonsense, for people and capital driven
out of an industry ill suited to our present conditions are not
thereby destroyed. They may very well find employment producing more
total wealth in another. But argument (_b_) was a good argument _if the
statement about the impossibility of changing from one trade to another
were in practice true_. The whole discussion really turned upon the
last point.
Unfortunately for the Protectionists, those who defended their cause
in this country nearly all used argument (_a_), and were very properly
derided as fools by the Free Traders. Argument (_b_) was only used by
a comparatively small number of thoughtful men and they were under
this disadvantage--that they were arguing with regard to a possible or
probable future with no past experience to guide them, and that many
years must pass before it could be discovered whether, in practice,
what they said was true or false; whether in practice the ruin of
English agriculture would diminish the well-being of England as a whole
or not.
Further, the population continued to increase at a great rate, and that
all in the towns and on the coal-fields. Our manufacturing productions
went up and up and up, the total wealth of the country enormously
increased, and these processes hid and made to seem insignificant the
corresponding decay of the fields. We had no need for Protection in any
domestic manufactured goods; we had begun to use coal before anybody
else; we had developed machinery before anybody else. The only thing
which there could be any point in protecting was agriculture, and that
would have meant dearer food for the wage-earners in the towns.
Public-domain text, read in full here on John Shaqi.
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