The Industrial History of EnglandGibbins, Henry de Beltgens
History
The Industrial History of England
Gibbins, Henry de Beltgens
Great Britain -- Economic conditions; Industries -- Great Britain -- History
§ 8. THE PRESENT CAPITALIST SYSTEM. FOREIGN MARKETS--The answer as
far as the capitalist is concerned seems to be: foreign customers in
new markets. English manufacturers and capitalists have consistently
supported that policy which seemed likely to open up these new markets
to their goods. For a long time, as we saw (p. 213), they occupied
themselves very wisely in obtaining cheap raw material by passing
enactments actuated by Free Trade principles and removing protective
restrictions. Cheap raw material having thus been gained, and machinery
having now been developed to such an extent as to {220} increase
production quite incalculably, England sends her textile and other
products all over the world. She seems to find it necessary to discover
fresh markets every generation or so, in order that her vast output of
commodities may be sold. This policy naturally receives the approval of
those engaged in foreign commerce, and most of our wars with countries
like China, Egypt, or Burmah, involve commercial interests. But as
other foreign nations are also engaging more widely in external trade,
the international struggle for new markets is liable to assume at any
time a dangerous phase. To-day, indeed, the industrial history of our
country seems to have reached a point when production under a purely
capitalist system is overreaching itself. It must go on and on without
ceasing, finding or fighting for an outlet for the wealth produced,
lest the whole gigantic system of international commerce should break
down by the mere weight of its own immensity. Meanwhile, English
manufacturers are complaining of foreign competition in plaintive
tones, which merely means that, whereas they thought some years ago
that they had a complete monopoly in supplying the requirements of the
world, they are now perceiving that they have not a monopoly at all,
but only a good start, while other nations are already catching them up
in the modern race for wealth.
Public-domain text, read in full here on John Shaqi.
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