Liberty in the Nineteenth CenturyHolland, Frederic May
Philosophy
Liberty in the Nineteenth Century
Holland, Frederic May
Liberty; Social history
That body allowed Manchester and other factory towns to send
representatives who had found out the tendency of protectionism from
their own business experience, as well as from study of political
economy. Among these men was Cobden, who had already planted himself in
the road to wealth, but who preferred to remain poor that he might make
England rich. He and his associates knew that imports are paid for by
exporting what can be produced most profitably; that nothing is imported
which could be produced as cheaply at home; that large imports make
large exports; that the average Englishman knows how to carry on his
own business; and that the Government could not encourage any otherwise
unprofitable industry without checking the really profitable ones. On
these facts were based the following predictions. In the first place,
free trade in grain and cattle would lower the average price of food
in England, and make the supply so regular that there would be no more
famines. Second, those countries which were allowed to send grain and
cattle, cotton and other raw materials, etc., to England would buy
British manufactures in return. Third, removal of duties from raw
materials would enable factories to produce goods more cheaply, and
sell larger quantities at home as well as abroad. Then, fourth, this
increased activity in manufacturing would raise wages, while remission
of duties would make all the necessaries of life cheaper, so that
pauperism would diminish and prosperity become more general in the
working class. And finally, the commerce of England with other countries
would grow rapidly to their mutual benefit; and thus international
relations would be kept friendly by free trade.
Public-domain text, read in full here on John Shaqi.
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