Protection for Infant Industries Outgrown

Cover Protection for Infant Industries Outgrown
Protection for Infant Industries Outgrown
Arthur Scott Gilman
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There are those who believe that the discussion of the tariff is no longer vital : the tariff has built up American industries, they say, so why not let it stay ? Such people cannot understand the mutual benefits of international trade, and they do not see that our exports must always be dependent on our imports. They do not see that what we trade for is not the money of other countries, but the goods which they can make cheaper than we can. They do not seem to realize that tariffs on our part ...will lead to counter-tariffs from countries whose custom we have begun to find valuable to our industries, and they forget that by limiting the field of production to one country they increase the tendency to fluctuations in prices, with its conse- quent overproduction, followed by panics and failures ; and, finally, they fail to realize that the tariff is a tax on the whole body of the people for the benefit of the manufacturers in the protected indus- tries.
If this were all, it would be clear that the object for which a pro- tective tariff had been originated had been attained, and that its continuation was undesirable.


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