Page:The reciprocity craze.djvu/36

 They all have the same notions about "foreigners flooding our markets with cheap and often nasty manufactured goods;" the same idea of "Free Trade increasing the balance of trade against us till it has reached the alarming figure of £136,000,000;" the same notion that we are "drawing upon our capital and our accumulated wealth."

But, there are other choice morsels which I must transcribe verbatim:—"The cloud that threatens the industrial existence of England has been gathering and intensifying for six years. 'Who,' asks Mr. Bright triumphantly, 'dare now propose a return to Protection?' 'Who,' it may be asked in return, 'amongst all the wise and acute and thoughtful men in enlightened Europe and America, dare now propose the adoption of Free Trade?' Not one; absolutely not one. After carefully watching the working of 'isolated' free trade in England for thirty years, they have unanimously, without a dissentient voice, rejected it as belonging to the puerile doctrines and illusions of mankind." "Practical thoughtful men are beginning to compare the prophecies and theories of free trade with the practical results, and they are aghast." "England is the only country in the world that has adopted what is called free trade, and England is the only country in the world that is retrograding in industrial prosperity." "Under protection America is accumulating annually £165,000,000. Under protection France is accumulating annually £75,000,000. Under Free Trade England is accumulating annually £65,000,000. Many experts maintain that since 1875—1876 she was losing money instead of accumulating. Protective America now exports more than she imports. Protective France imports annually £4,000,000 more than she exports. (The balance against her is £40,000,000 in ten years). Free trade England imports annually £130,000,000 more than she exports!"

Very few remarks are necessary on this farrago of reckless assertion and false inference.

It is not true that any cloud threatens the industrial existence of England, or that she is retrograding in industrial prosperity; facts abounding on every side point to the very opposite conclusion.