Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
same by increasing the demand at home for the wheat. That this does not
operate so long as wheat raisers come to a market where a surplus must be
consumed in other countries does not destroy the argument, since the
tendency is to reduce the surplus. The system is also thought to
encourage, in lines of industry likely to prove productive, a rapid
development of labor-saving machinery and new methods of manufacture,
which may some time give to a nation superiority in the markets of the
world. To many there seems a much more important reason for restrictions,
in order to establish every needed form of production for the sake of
national independence. That nation which contains within its own borders
the means of supplying all the wants of its people is supposed to be more
capable of independent growth, and to be freed from hampering competitions
of trade, that may lead to wars and, perhaps, to extreme suffering in case
of foreign war.
For abundant examples in support of these various propositions, appeal is
made to the history of the world by comparing countries developed under a
restrictive tariff with less developed ones free from such restrictions.
The history of our own country, under the ups and downs of tariff
legislation, is also appealed to. Even the extra cost of certain articles
to the whole people, which is the sole basis of advantage to the fostered
interest, is thought to be more than compensated by the direct advantage
of increasing competition at home, where it will have the most wholesome
effect upon the market price. Proof of this, too, is sought in the rapid
development of iron and steel manufacture, where protective tariffs have
been most persistent.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account