The Arena, Volume 4, No. 24, November, 1891 — John Shaqi
The Arena, Volume 4, No. 24, November, 1891Various
General
The Arena, Volume 4, No. 24, November, 1891
Various
American literature -- Periodicals
Nevertheless, the most hotly contested feature of the McKinley bill
was that which continued the policy of protecting nascent industries
in certain products, and notably that of the manufacture of tin plate.
If the protection of nascent industries at the beginning of this
century was a sound policy, then it is a sound policy to industries of
that description to-day. Whether we have tin mines or not (and it now
appears that we have) there is no reason on the surface why we should
not buy our Straits tin and manufacture tin plate as well as England.
Some Democratic newspapers appear to have an idea that the tin mines
of Cornwall and Wales make a monopoly in this direction for England.
They forget that to-day the tin used by England comes chiefly from the
Straits, and she can buy it there on no better terms than the United
States. If the policy of protection to nascent industries is sound,
then the tariff of 1890 is sound in this direction, and we should seek
its results in the new industries which have been started since it
became a law.
In the second branch, the question of whether we should continue
protection to industries already established is one largely of degree
and of discretion. Where a removal of the duty would mean either a
heavy reduction of wages or a stopping of existing industries with the
rise of prices consequent upon the withdrawal of the United States
from the world's competition, then the removal of the duty would be a
misfortune. It would be a misfortune not only to the industry which
was ruined and to the wage earners who were reduced to idleness or
poverty, but it would be an injury to the consumer because it would in
a short time raise the price of the world's production diminished by
our withdrawal. In industries where no such results could possibly
be feared, or where the production of the article is not possible in
the United States, it would certainly be wise to remove duties, and
this has been the purpose of the protectionists and of the Republican
party.
Public-domain text, read in full here on John Shaqi.
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