Page:Indian Journal of Economics Volume 2.djvu/720

 ECONOMI 00NFEltENOE Medieval England had sxpsrienes of shortages of gold al silve ourrenoy and consequent deleterious fall of prices, (b) It was a startling assertion that Neo-Malthusisnism might beeome a danger to India. In the speaksr's opinion it was dssirsbte to avoid m too large inetease of population in India. PBOy]eSSOR KAL said that Moresntilism was.in the main justified, beesuse eoonomie policy must bs sdp to the axistin 8 eoonomio oioumstanees. Even now such oiromn- stmees hays eausad a revulsion of feeling in the Bri Empire against free trade and aistr fair, and an effort to make the Empire self-suftieisnt. This also aoounted for sueh Msresntilistie views ss exist in India; but the prs! is viiJared beesuse the Indn Government follows a polioy of indUsrenee, and as a resetion it is the people who oherish msrcantilistio sentiments. msresntilistio notions about gold; small looking to the volume of India as a nation has no of which the imports are Indian population. SueAt imports srs necessary as long as our ourfancy is not based on s stable gold bis. Taking otusl facts into consideration ws do not find any speci mercsntilistio traits in India. Psossso AssTBY thought that the diseussion had gone off into one psrtieular respect of msromntilism, i, protection. As to that we should not eonfins our attention to two oountriss, suoh as Germany and Amsrios, whioh have possibly profired by Proteotion; for France has not. If self-suflioienoy wars to be pushed by saoh oountry to an extreme there would bs eternal quarrels. Msreantilism was far more than a system of Protection. It took aceount of internal measures for the oountry; and ws might feel more sympathy with Neo- msroantilism in India when ws saw attempts made to give a better market to home goods. On the other hand hs thought we oould hays no sympathy for the selfish efforts of capital or eapitalists working ouly iu their own interests. PBOFEB8OB THOMPSON replied that the Msreautilists held very diverse views on the subjsot of ourfancy. Probably their diflieultiss wars more in the nature of financial panics than a regular dieulty in obtaining gold. As to Neo- Malthusianism, it would onl apply in the future, aud. to partiou elsseas. Any means whioh is moral may be used to ohsok the growth of population. But serious inquiries ooueerning Nso-Malthusian pr.tiees are now being made in India, and in his opinion suc. h prsetiees were to bs condemned.