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Free Trade and Its So-Called Sophisms: A Reply to 'Sophisms of Free Trade ...
Edgar Alfred Bowring
No preview available - 2017
abroad absenteeism accessibility admitted advantage American amount annually appears argues argument Author balance Barrister Barrister's benefit better British buying capital cent certainly chapter cheaper cheapness Colonial commodities comparatively conclusion condition consequence considered corn cost cotton create denied depends duties Edition effect employed employment encouragement England English entirely examine exchange existence exports extent fact favour foreign articles foreign trade France Free Trade French gains give gloves greater half a million home trade illustration import income increase industry labour latter less linen London loses manufactures masses means of purchase merchant natural necessary nine object obtain Octavo operation plenty political economy possible produce profit proportion protection Protectionist prove question reasoning result rister Russia side SOPHISMS spend sterling supply Suppose theory thing tion true truth United various Volumes whole wine woollen
Page 38 - ... the necessaries and comforts of life, of food, clothing and lodging. These countries can, in every single article that they produce, be surpassed and undersold by some country or other. Put the case of such a country, with moderate facilities for the production of most things, with extraordinary facilities for the production of nothing. It can grow wheat, but not so cheap as Poland ; it can grow wine, but not so cheap as France or Spain; it can manufacture, but not so cheaply as England. First...
Page 90 - Not to govern too much ;' which, perhaps, would be of more use when applied to trade, than in any other public concern. It were therefore to be wished, that commerce were as free between all the nations of the world, as it is between the several counties of England ; so would all, by mutual communication, obtain more enjoyments. Those counties do not ruin each other by trade, neither would the nations.
Page 33 - England should grow wine in hot-houses though it would cost thirty times as much as foreign wine. Not at all. The moment the price of the domestic commodity exceeds by a certain proportion the price of the corresponding foreign one, the main reason for producing at home ceases. Suppose even that wine could be produced in England at less than twice the price at which it could be imported, it might, on the principles above explained, be, under ordinary circumstances, for the advantage of England to...
Page 18 - The entire price or gross value of every home made article constitutes net gain, net revenue, net income to British subjects. Not a portion of the value, but the whole value, is resolvable into net gain, income or revenue maintaining British families, and creating or sustaining British markets. Purchase British articles with British articles and you create two such aggregate values and two such markets for British industry.
Page 20 - Calais, thus depriving the Dover people of their Leicester market. What is the consequence ? It is this, that Dover loses what Calais gets; that England loses and France gains half a million a year by the new locality of the glove manufacture — by its transference from England to France.
Page 19 - But, to descend from the abstract to the concrete, let us illustrate this by an example. Suppose stockings to the value of .£500,000 a year are made in Leicester, and exchanged annually for gloves to the amount of £500,000 a year made in Dover, the landlords and tradesmen, and workmen of Leicester and Dover enjoy together an annual English net income of a million.
Page 20 - Dover, exchange them for gloves from the other side of the straits, say from Calais, what is the consequence ? It is this, that England loses, and France gains, half a million a year by the change. Englishmen have half a million a year less to spend; Frenchmen have half a million a year more to spend.