...under other conditions as well. In Mill's Principles of Political Economy appear the following words:8 "The only case in which, on mere principles of political...economy, protecting duties can be defensible, is" el cetera . . . The original passage may suggest that Mill regarded protective duties as defensible,...

...really a question of the cost of manuring, ie, a similar one to that of the cost of carriage. (/) That the superiority of one country over another in a branch...production often arises only from having begun it sooner. This can be conceded in a new country or a new industry. A protecting duty may sometimes be defensible,...

...production per capita amounts to two pounds, and imports to six shillings. John Stuart Mill said that "the superiority of one country over another in a...production often arises only from having begun it sooner ".8" England did begin her modern industries "sooner". But that is not all. While she had the full...

...production per capita amounts to two pounds, and imports to six shillings. John Stuart Mill said that ' ' the superiority of one country over another in a branch...production often arises only from having begun it sooner".331 England did begin her modern industries ' ' sooner". But that is not all. While she had...

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...said that " the only case in which on mere principles of political economy "duties can be defended is when they are imposed temporarily " (especially in a young and rising nation) in hopes of naturalising a (1) ie. in 1915 (2) This was abandoned on Mr. Hughes succeeding Mr. Fisher as Prime...

...admission that protective duties might defensibly be imposed in a young nation "in hopes of naturalising a foreign industry in itself perfectly suitable to the circumstances of the country ;" and so we find Cobden in a letter to John Bright growling: "I got a letter the other day from Australia...

...such loss may justifiably be incurred. In the passage already referred to John Stuart Mill says, ' ' The only case in which, on mere principles of political...(especially in a young and rising nation) in hopes of naturalising a foreign industry, in itself perfectly suitable to the circumstances of the country A...

...when they were "imposed temporarily (especially in a young and rising nation) in hopes of naturalising a foreign industry, in itself perfectly suitable to the circumstances of the country ". Mill thus went further than Adam Smith in the direction of limiting the doctrine. He drew a distinction...

...of the infant-industry argument. It is as follows : — " The only case in which on mere principle of political economy, protecting duties can be defensible,...(especially in a young and rising nation) in hopes of naturalising a foreign industry, in itself perfectly suitable to the circumstances of the country....