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abroad advantage agricultural American amount argument average balance of trade benefit blind pool British bushels census cent cheap cheaper cloth Cobden Cobden Club commerce commodities compelled competition Congress consumers consumption corn corn law cost cotton demand dollars domestic employed employment England English equal Europe exchange exports fact factures farm farmers favor flour free trade free-trade give greater higher home market imported imposed increased interests Ireland iron labor and capital labor power land legislation less machinery manu manufac manufactures means ment millions mills nation natural obtain paid Political Economy present profits prosperity protectionist protective duty protective policy protective system protective tariff purchase quantity question quinine raised raw materials reduced result revenue sell Senator supply suppose tariff of 1816 taxation theory things tion United wages wealth wheat whole wool woolen workmen yard
Сторінка 173 - The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself...
Сторінка 92 - The only case in which, on mere principles of political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country.
Сторінка 28 - As every individual, therefore, endeavours as much as he can both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value ; every individual necessarily labours to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it.
Сторінка 29 - I have never known much good done by those who affected to trade for the public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it.
Сторінка 173 - It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy.
Сторінка 92 - ... protecting duty, continued for a reasonable time, will sometimes be the least inconvenient mode in which the nation can tax itself for the support of such an experiment. But the protection should be confined to cases in which there is good ground of assurance that the industry which it fosters will after a time be able to dispense with it; nor should the domestic producers ever be allowed to expect that it will be continued to them beyond the time necessary for a fair trial of what they are capable...
Сторінка 38 - Humanity may in this case require that the freedom of trade should be restored only by slow gradations, and with a good deal of reserve and circumspection. Were those high duties and prohibitions taken away all at once, cheaper foreign goods of the same kind might be poured so fast into the home market as to deprive all at once many thousands of our people of their ordinary employment and means of subsistence.
Сторінка 29 - By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
Сторінка 30 - ... senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Сторінка 31 - If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage. The general industry of the country being always in proportion to the capital which employs it, will not thereby be diminished, no more than that of the above-mentioned artificers, but only left to find out the way in which it can be employed with the greatest advantage.