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 Historical Comment.—The struggle between colonial and native sugars furnishes us a striking example of this impossibility of property. Leave these two industries to themselves, and the native manufacturer will be ruined by the colonist. To maintain the beet-root, the cane must be taxed: to protect the property of the one, it is necessary to injure the property of the other. The most remarkable feature of this business is precisely that to which the least attention is paid; namely, that, in one way or another, property has to be violated. Impose on each industry a proportional tax, so as to preserve a balance in the market, and you create a maximum price,—you attack property in two ways. On the one hand, your tax interferes with the liberty of trade; on the other, it does not recognize equality of proprietors. Indemnify the beet-root, you violate the property of the tax-payer. Cultivate the two varieties of sugar at the nation’s expense, just as different varieties of tobacco are cultivated,—you abolish one species of property. This last course would be the simpler and better one; but, to induce the nations to adopt it, requires such a co-operation of able minds and generous hearts as is at present out of the question.

Competition, sometimes called liberty of trade,—in a word, property in exchange,—will be for a long time the basis of our commercial legislation; which, from the economical point of view, embraces all civil laws and all government. Now, what is competition? A duel in a closed field, where arms are the test of right.

“Who is the liar,—the accused or the accuser?” said our barbarous ancestors. “Let them fight it out,” replied the still more barbarous judge; “the stronger is right.”

Which of us two shall sell spices to our neighbor? “Let each offer them for sale,” cries the economist; “the