Protective Tariff And Free Trade
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It even does more, for it encourages new enterprises. But for our protective tariff we should not have had the silk manu- factures. The ten thousand four hundred people in the State of New Jersey engaged in this business are all fed by our farmers. The nation is benefited as well. It gives employ- ment to our people, and the profits to the manufacturer on the thirteen millions of dollars in value of goods manufactured are saved here ; that is, whatever they make are made in this country, and go... towards making up and swelling the wealth of the nation ; and the capital thus saved or accumulated here is employed in developing the country and its numerous resources and industries.
One manufacturer in the silk business at Paterson, in New Jersey, is said to have made one million of dollars, and I am informed he has invested all this money in the town where he lives in building houses and in other improvements. Now, who is injured by this ? Not the people, because the duty on silk is just the same now as it was when it was imposed years 8 ago as a mere " revenue" duty, for silk goods are cheaper now than they were at the time when the duty was imposed ; the fact being in this, as in many other instances of production, a reduction in price of the goods produced by reason of domestic competition.
What to read after Protective Tariff And Free Trade?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Haines Dudley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It even does more, for it encourages new enterprises. But for our protective tariff we should not have had the silk manu- factures. The ten thousand four hundred people in the State of New Jersey engaged in this business are all fed by our farmers. The nation is benefited as well. It gives employ- ment to our people, and the profits to the manufacturer on the thirteen millions of dollars in value of goods manufactured are saved here ; that is, whatever they make are made in this country, and go... towards making up and swelling the wealth of the nation ; and the capital thus saved or accumulated here is employed in developing the country and its numerous resources and industries.
One manufacturer in the silk business at Paterson, in New Jersey, is said to have made one million of dollars, and I am informed he has invested all this money in the town where he lives in building houses and in other improvements. Now, who is injured by this ? Not the people, because the duty on silk is just the same now as it was when it was imposed years 8 ago as a mere " revenue" duty, for silk goods are cheaper now than they were at the time when the duty was imposed ; the fact being in this, as in many other instances of production, a reduction in price of the goods produced by reason of domestic competition.
What to read after Protective Tariff And Free Trade?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Haines Dudley to read onlineMoreLess
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