Protection to Young Industries As Applied in the United States Electronic Resou

Cover Protection to Young Industries As Applied in the United States Electronic Resou
Protection to Young Industries As Applied in the United States Electronic Resou
F W Frank William Taussig
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1 The consumption of cotton goods was large ; but only an insignificant part of it was supplied by home production, although later developments showed that this branch of industry could be carried on with distinct success. The ease with which these imports were paid for, and the stimulus which this period, as de- scribed in the preceding pages, gave to agri- culture and commerce, account in part for the slowness with which the domestic manufacture developed. The fact that raw cotton was not yet... grown to any considerable extent in the country, together, doubtless, with the better machinery and larger experience and skill of the English, account for the rest.
When, however, the period of restriction be- gan, in 1808, the importation of foreign goods was first impeded, and soon entirely prevented. The domestic manufacture accordingly extended with prodigious rapidity. Already during the years 1804-8 greater activity must have pre- vailed ; for in the latter year fifteen mills had been built, running 8, 000 spindles.


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