CHAPTER IV.

EQUALIZING OF THE FACILITIES OF PRODUCTION.

The protectionists often use the following argument:

"It is our belief that protection should correspond to, should be the

representation of, the difference which exists between the price of an

article of home production and a similar article of foreign

production. A protective duty calculated upon such a basis does

nothing more than secure free competition; free competition can only

exist where there is an equality in the facilities of production. In a

horse-race the load which each horse carries is weighed and all

advantages equalized; otherwise there could be no competition. In

commerce, if one producer can undersell all others, he ceases to be a

competitor and becomes a monopolist. Suppress the protection which

represents the difference of price according to each, and foreign

produce must immediately inundate and obtain the monopoly of our

market. Every one ought to wish, for his own sake and for that of the

community, that the productions of the country should be protected

against foreign competition, _whenever the latter may be able to

undersell the former_."

This argument is constantly recurring in all writings of the

protectionist school. It is my intention to make a careful

investigation of its merits, and I must begin by soliciting the

attention and the patience of the reader. I will first examine into

the inequalities which depend upon natural causes, and afterwards into

those which are caused by diversity of taxes.

Here, as elsewhere, we find the theorists who favor protection taking

part with the producer. Let us consider the case of the unfortunate

consumer, who seems to have entirely escaped their attention. They

compare the field of protection to the _turf_. But on the turf, the

race is at once a _means and an end_. The public has no interest in

the struggle, independent of the struggle itself. When your horses are

started in the course with the single object of determining which is

the best runner, nothing is more natural than that their burdens

should be equalized. But if your object were to send an important and

critical piece of intelligence, could you without incongruity place

obstacles to the speed of that one whose fleetness would secure you

the best means of attaining your end? And yet this is your course in

relation to industry. You forget the end aimed at, which is the

_well-being_ of the community; you set it aside; more, you sacrifice

it by a perfect _petitio principii_.

But we cannot lead our opponents to look at things from our point of

view; let us now take theirs: let us examine the question as

producers.

I will seek to prove:

1. That equalizing the facilities of production is to attack the

foundations of mutual exchange.

2. That it is not true that the labor of one country can be crushed by

the competition of more favored climates.

3. That, even were this the case, protective duties cannot equalize

the facilities of production.

4. That freedom of trade equalizes these conditions as much as

possible; and

5. That the countries which are the least favored by nature are those

which profit most by mutual exchange.

1. _Equalizing the facilities of production is to attack the

foundations of mutual exchange._ The equalizing of the facilities of

production, is not only the shackling of certain articles of commerce,

but it is the attacking of the system of mutual exchange in its very

foundation principle. For this system is based precisely upon the very

diversities, or, if the expression be preferred, upon the inequalities

of fertility, climate, temperature, capabilities, which the

protectionists seek to render null. If New England sends its

manufactures to the West, and the West sends corn to New England, it

is because these two sections are, from different circumstances,

induced to turn their attention to the production of different

articles. Is there any other rule for international exchanges?

Again, to bring against such exchanges the very inequalities of

condition which excite and explain them, is to attack them in their

very cause of being. The protective system, closely followed up, would

bring men to live like snails, in a state of complete isolation. In

short, there is not one of its sophisms, which, if carried through by

vigorous deductions, would not end in destruction and annihilation.

2. _It is not true that the labor of one country can be crushed by the

competition of more favored climates._ The statement is not true that

the unequal facility of production, between two similar branches of

industry, should necessarily cause the destruction of the one which is

the least fortunate. On the turf, if one horse gains the prize, the

other loses it; but when two horses work to produce any useful

article, each produces in proportion to his strength; and because the

stronger is the more useful it does not follow that the weaker is good

for nothing. Wheat is cultivated in every section of the United

States, although there are great differences in the degree of

fertility existing among them. If it happens that there be one which

does not cultivate it, it is because, even to itself, such cultivation

is not useful. Analogy will show us, that under the influences of an

unshackled trade, notwithstanding similar differences, wheat would be

produced in every portion of the world; and if any nation were induced

to entirely abandon the cultivation of it, this would only be because

it would _be her interest_ to otherwise employ her lands, her capital,

and her labor. And why does not the fertility of one department

paralyze the agriculture of a neighboring and less favored one?

Because the phenomena of political economy have a suppleness, an

elasticity, and, so to speak, _a self-levelling power_, which seems to

escape the attention of the school of protectionists. They accuse us

of being theoretic, but it is themselves who are so to a supreme

degree, if the being theoretic consists in building up systems upon

the experience of a single fact, instead of profiting by the

experience of a series of facts. In the above example, it is the

difference in the value of lands which compensates for the difference

in their fertility. Your field produces three times as much as mine.

Yes. But it has cost you ten times as much, and therefore I can still

compete with you: this is the sole mystery. And observe how the

advantage on one point leads to disadvantage on the other. Precisely

because your soil is more fruitful it is more dear. It is not

_accidentally_ but _necessarily_ that the equilibrium is established,

or at least inclines to establish itself: and can it be denied that

perfect freedom in exchanges is of all systems the one which favors

this tendency?

I have cited an agricultural example; I might as easily have taken one

from any trade. There are tailors at Barnegat, but that does not

prevent tailors from being in New York also, although the latter have

to pay a much higher rent, as well as higher price for furniture,

workmen, and food. But their customers are sufficiently numerous not

only to reëstablish the balance, but also to make it lean on their

side.

When, therefore, the question is about equalizing the advantages of

labor, it would be well to consider whether the natural freedom of

exchange is not the best umpire.

This self-levelling faculty of political phenomena is so important,

and at the same time so well calculated to cause us to admire the

providential wisdom which presides over the equalizing government of

society, that I must ask permission a little longer to turn to it the

attention of the reader.

The protectionists say, Such a nation has the advantage over us, in

being able to procure cheaply, coal, iron, machinery, capital; it is

impossible for us to compete with it.

We must examine this proposition under other aspects. For the

present, I stop at the question, whether, when an advantage and a

disadvantage are placed in juxtaposition, they do not bear in

themselves, the former a descending, the latter an ascending power,

which must end by placing them in a just equilibrium?

Let us suppose the countries A and B. A has every advantage over B;

you thence conclude that labor will be concentrated upon A, while B

must be abandoned. A, you say, sells much more than it buys; B buys

much more than it sells. I might dispute this, but I will meet you

upon your own ground.

In the hypothesis, labor being in great demand in A, soon rises in

value; while labor, iron, coal, lands, food, capital, all being little

sought after in B, soon fall in price.

Again: A being always selling and B always buying, cash passes from B

to A. It is abundant in A, very scarce in B.

But where there is abundance of cash, it follows that in all purchases

a large proportion of it will be needed. Then in A, _real dearness_,

which proceeds from a very active demand, is added to _nominal

dearness_, the consequence of a superabundance of the precious metals.

Scarcity of money implies that little is necessary for each purchase.

Then in B, a _nominal cheapness_ is combined with _real cheapness_.

Under these circumstances, industry will have the strongest possible

motives for deserting A to establish itself in B.

Now, to return to what would be the true course of things. As the

progress of such events is always gradual, industry from its nature

being opposed to sudden transits, let us suppose that, without

waiting the extreme point, it will have gradually divided itself

between A and B, according to the laws of supply and demand; that is

to say, according to the laws of justice and usefulness.

_I do not advance an empty hypothesis when I say, that were it

possible that industry should concentrate itself upon a single point,

there must, from its nature, arise spontaneously, and in its midst_,

AN IRRESISTIBLE POWER OF DECENTRALIZATION.

We will quote the words of a manufacturer to the Chamber of Commerce

at Manchester (the figures brought into his demonstration being

suppressed):

"Formerly we exported goods; this exportation gave way to that of

thread for the manufacture of goods; later, instead of thread, we

exported machinery for the making of thread; then capital for the

construction of machinery; and lastly, workmen and talent, which are

the source of capital. All these elements of labor have, one after the

other, transferred themselves to other points, where their profits

were increased, and where the means of subsistence being less

difficult to obtain, life is maintained at less cost. There are at

present to be seen in Prussia, Austria, Saxony, Switzerland, and

Italy, immense manufacturing establishments, founded entirely by

English capital, worked by English labor, and directed by English

talent."

We may here perceive that Nature, with more wisdom and foresight than

the narrow and rigid system of the protectionists can suppose, does

not permit the concentration of labor, and the monopoly of advantages,

from which they draw their arguments as from an absolute and

irremediable fact. It has, by means as simple as they are infallible,

provided for dispersion, diffusion, mutual dependence, and

simultaneous progress; all of which, your restrictive laws paralyze as

much as is in their power, by their tendency towards the isolation of

nations. By this means they render much more decided the differences

existing in the conditions of production; they check the

self-levelling power of industry, prevent fusion of interests,

neutralize the counterpoise, and fence in each nation within its own

peculiar advantages and disadvantages.

3. _Even were the labor of one country crushed by the competition of

more favored climates (which is denied), protective duties cannot

equalize the facilities of production._ To say that by a protective

law the conditions of production are equalized, is to disguise an

error under false terms. It is not true that an import duty equalizes

the conditions of production. These remain after the imposition of the

duty just as they were before. The most that law can do is to equalize

the _conditions of sale_. If it should be said that I am playing upon

words, I retort the accusation upon my adversaries. It is for them to

prove that _production_ and _sale_ are synonymous terms, which if they

cannot do, I have a right to accuse them, if not of playing upon

words, at least of confounding them.

Let me be permitted to exemplify my idea.

Suppose that several New York speculators should determine to devote

themselves to the production of oranges. They know that the oranges of

Portugal can be sold in New York at one cent each, whilst on account

of the boxes, hot-houses, &c., which are necessary to ward against

the severity of our climate, it is impossible to raise them at less

than a dollar apiece. They accordingly demand a duty of ninety-nine

cents upon Portugal oranges. With the help of this duty, say they, the

_conditions of production_ will be equalized. Congress, yielding as

usual to this argument, imposes a duty of ninety-nine cents on each

foreign orange.

Now I say that the _relative conditions of production_ are in no wise

changed. The law can take nothing from the heat of the sun in Lisbon,

nor from the severity of the frosts in New York. Oranges continuing to

mature themselves _naturally_ on the banks of the Tagus, and

artificially upon those of the Hudson, must continue to require for

their production much more labor on the latter than the former. The

law can only equalize the _conditions of sale_. It is evident that

while the Portuguese sell their oranges here at a dollar apiece, the

ninety-nine cents which go to pay the tax are taken from the American

consumer. Now look at the whimsicality of the result. Upon each

Portuguese orange, the country loses nothing; for the ninety-nine

cents which the consumer pays to satisfy the impost tax, enter into

the treasury. There is improper distribution; but no loss. But upon

each American orange consumed, there will be about ninety-nine cents

lost; for while the buyer very certainly loses them, the seller just

as certainly does not gain them; for, even according to the

hypothesis, he will receive only the price of production, I will leave

it to the protectionists to draw their conclusion.

4. _But freedom of trade equalizes these conditions as much as is

possible._ I have laid some stress upon this distinction between the

conditions of production and those of sale, which perhaps the

prohibitionists may consider as paradoxical, because it leads me on to

what they will consider as a still stranger paradox. This is: If you

really wish to equalize the facilities of production, leave trade

free.

This may surprise the protectionists; but let me entreat them to

listen, if it be only through curiosity, to the end of my argument. It

shall not be long. I will now take it up where we left off.

If we suppose for the moment, that the common and daily profits of

each American amount to one dollar, it will indisputably follow that

to produce an orange by _direct_ labor in America, one day's work, or

its equivalent, will be requisite; whilst to produce the cost of a

Portuguese orange, only one-hundredth of this day's labor is required;

which means simply this, that the sun does at Lisbon what labor does

at New York. Now is it not evident, that if I can produce an orange,

or, what is the same thing, the means of buying it, with one-hundredth

of a day's labor, I am placed exactly in the same condition as the

Portuguese producer himself, excepting the expense of the

transportation? It therefore follows that freedom of commerce

equalizes the conditions of production direct or indirect, as much as

it is possible to equalize them; for it leaves but the one inevitable

difference, that of transportation.

I will add that free trade equalizes also the facilities for attaining

enjoyments, comforts, and general consumption; the last, an object

which is, it would seem, quite forgotten, and which is nevertheless

all-important; since, in fine, consumption is the main object of all

our industrial efforts. Thanks to freedom of trade, we would enjoy

here the results of the Portuguese sun, as well as Portugal itself;

and the inhabitants of New York would have in their reach, as well as

those of London, and with the same facilities, the advantages which

nature has in a mineralogical point of view conferred upon Cornwall.

5. _Countries least favored by nature (countries not yet cleared of

forests, for example) are those which profit most by mutual exchange._

The protectionists may suppose me in a paradoxical humor, for I go

further still. I say, and I sincerely believe, that if any two

countries are placed in unequal circumstances as to advantages of

production, _the one of the two which is the less favored by nature,

will gain more by freedom of commerce_. To prove this, I will be

obliged to turn somewhat aside from the form of reasoning which

belongs to this work. I will do so, however; first, because the

question in discussion turns upon this point; and again, because it

will give me the opportunity of exhibiting a law of political economy

of the highest importance, and which, well understood, seems to me to

be destined to lead back to this science all those sects which, in our

days, are seeking in the land of chimeras that social harmony which

they have been unable to discover in nature. I speak of the law of

consumption, which the majority of political economists may well be

reproached with having too much neglected.

Consumption is the _end_, the final cause of all the phenomena of

political economy, and, consequently, in it is found their final

solution.

No effect, whether favorable or unfavorable, can be vested permanently

in the producer. His advantages and disadvantages, derived from his

relations to nature and to society, both pass gradually from him; and

by an almost insensible tendency are absorbed and fused into the

community at large--the community considered as consumers. This is an

admirable law, alike in its cause and its effects; and he who shall

succeed in making it well understood, will have a right to say, "I

have not, in my passage through the world, forgotten to pay my tribute

to society."

Every circumstance which favors the work of production is of course

hailed with joy by the producer, for its _immediate effect_ is to

enable him to render greater services to the community, and to exact

from it a greater remuneration. Every circumstance which injures

production, must equally be the source of uneasiness to him; for its

_immediate effect_ is to diminish his services, and consequently his

remuneration. This is a fortunate and necessary law of nature. The

immediate good or evil of favorable or unfavorable circumstances must

fall upon the producer, in order to influence him invisibly to seek

the one and to avoid the other.

Again: when an inventor succeeds in his labor-saving machine, the

_immediate_ benefit of this success is received by him. This again is

necessary, to determine him to devote his attention to it. It is also

just; because it is just that an effort crowned with success should

bring its own reward.

But these effects, good and bad, although permanent in themselves, are

not so as regards the producer. If they had been so, a principle of

progressive and consequently infinite inequality would have been

introduced among men. This good, and this evil, both therefore pass

on, to become absorbed in the general destinies of humanity.

How does this come about? I will try to make it understood by some

examples.

Let us go back to the thirteenth century. Men who gave themselves up

to the business of copying, received for this service _a remuneration

regulated by the general rate of the profits_. Among them is found

one, who seeks and finds the means of rapidly multiplying copies of

the same work. He invents printing. The first effect of this is, that

the individual is enriched, while many more are impoverished. At the

first view, wonderful as the discovery is, one hesitates in deciding

whether it is not more injurious than useful. It seems to have

introduced into the world, as I said above, an element of infinite

inequality. Guttenberg makes large profits by this invention, and

perfects the invention by the profits, until all other copyists are

ruined. As for the public--the consumer--it gains but little, for

Guttenberg takes care to lower the price of books only just so much as

is necessary to undersell all rivals.

But the great Mind which put harmony into the movements of celestial

bodies, could also give it to the internal mechanism of society. We

will see the advantages of this invention escaping from the

individual, to become for ever the common patrimony of mankind.

The process finally becomes known. Guttenberg is no longer alone in

his art; others imitate him. Their profits are at first considerable.

They are recompensed for being the first who made the effort to

imitate the processes of the newly-invented art. This again was

necessary, in order that they might be induced to the effort, and thus

forward the great and final result to which we approach. They gain

largely; but they gain less than the inventor, for _competition_ has

commenced its work. The price of books now continually decreases. The

gains of the imitators diminish in proportion as the invention becomes

older; and in the same proportion imitation becomes less meritorious.

Soon the new object of industry attains its normal condition; in other

words, the remuneration of printers is no longer an exception to the

general rules of remuneration, and, like that of copyists formerly, it

is only regulated _by the general rate of profits_. Here then the

producer, as such, holds only the old position. The discovery,

however, has been made; the saving of time, labor, effort, for a fixed

result, for a certain number of volumes, is realized. But in what is

this manifested? In the cheap price of books. For the good of whom?

For the good of the consumer--of society--of humanity. Printers,

having no longer any peculiar merit, receive no longer a peculiar

remuneration. As men--as consumers--they no doubt participate in the

advantages which the invention confers upon the community; but that is

all. As printers, as producers, they are placed upon the ordinary

footing of all other producers. Society pays them for their labor, and

not for the usefulness of the invention. _That_ has become a

gratuitous benefit, a common heritage to mankind.

The wisdom and beauty of these laws strike me with admiration and

reverence.

What has been said of printing, can be extended to every agent for the

advancement of labor--from the nail and the mallet, up to the

locomotive and the electric telegraph. Society enjoys all, by the

abundance of its use, its consumption; and it _enjoys all

gratuitously_. For as their effect is to diminish prices, it is

evident that just so much of the price as is taken off by their

intervention, renders the production in so far _gratuitous_. There

only remains the actual labor of man to be paid for; and the

remainder, which is the result of the invention, is subtracted; at

least after the invention has run through the cycle which I have just

described as its destined course. I send for a workman; he brings a

saw with him; I pay him two dollars for his day's labor, and he saws

me twenty-five boards. If the saw had not been invented, he would

perhaps not have been able to make one board, and I would none the

less have paid him for his day's labor. The _usefulness_, then, of the

saw, is for me a gratuitous gift of nature, or rather, is a portion of

the inheritance which, _in common_ with my brother men, I have

received from the genius of my ancestors. I have two workmen in my

field; the one directs the handle of a plough, the other that of a

spade. The result of their day's labor is very different, but the

price is the same, because the remuneration is proportioned, not to

the usefulness of the result, but to the effort, the [time, and] labor

given to attain it.

I invoke the patience of the reader, and beg him to believe, that I

have not lost sight of free trade: I entreat him only to remember the

conclusion at which I have arrived: _Remuneration is not proportioned

to the usefulness of the articles brought by the producer into the

market, but to the [time and] labor required for their production._[B]

[Footnote B: It is true that [time and] labor do not receive a uniform

remuneration; because labor is more or less intense, dangerous,

skilful, &c., [and time more or less valuable.] Competition

establishes for each category a price current: and it is of this

variable price that I speak.]

I have so far taken my examples from human inventions, but will now go

on to speak of natural advantages.

In every article of production, nature and man must concur. But the

portion of nature is always gratuitous. Only so much of the usefulness

of an article as is the result of human labor becomes the object of

mutual exchange, and consequently of remuneration. The remuneration

varies much, no doubt, in proportion to the intensity of the labor, of

the skill, which it requires, of its being _à-propos_ to the demand of

the day, of the need which exists for it, of the momentary absence of

competition, &c. But it is not the less true in principle, that the

assistance received from natural laws, which belongs to all, counts

for nothing in the price.

We do not pay for the air we breathe, although so useful to us, that

we could not live two minutes without it. We do not pay for it,

because nature furnishes it without the intervention of man's labor.

But if we wish to separate one of the gases which compose it for

instance, to fill a balloon, we must take some [time and] labor; or if

another takes it for us, we must give him an equivalent in something

which will have cost us the trouble of production. From which we see

that the exchange is between efforts, [time and] labor. It is

certainly not for hydrogen gas that I pay, for this is everywhere at

my disposal, but for the work that it has been necessary to accomplish

in order to disengage it; work which I have been spared, and which I

must refund. If I am told that there are other things to pay for, as

expense, materials, apparatus, I answer, that still in these things it

is the work that I pay for. The price of the coal employed is only the

representation of the [time and] labor necessary to dig and transport

it.

We do not pay for the light of the sun, because nature alone gives it

to us. But we pay for the light of gas, tallow, oil, wax, because here

is labor to be remunerated;--and remark, that it is so entirely [time

and] labor and not utility to which remuneration is proportioned, that

it may well happen that one of these means of lighting, while it may

be much more effective than another, may still cost less. To cause

this, it is only necessary that less [time and] human labor should be

required to furnish it.

When the water-boat comes to supply my ship, were I to pay in

proportion to the _absolute utility_ of the water, my whole fortune

would not be sufficient. But I pay only for the trouble taken. If more

is required, I can get another boat to furnish it, or finally go and

get it myself. The water itself is not the subject of the bargain, but

the labor required to obtain the water. This point of view is so

important, and the consequences that I am going to draw from it so

clear, as regards the freedom of international exchanges, that I will

still elucidate my idea by a few more examples.

The alimentary substance contained in potatoes does not cost us very

dear, because a great deal of it is attainable with little work. We

pay more for wheat, because, to produce it, Nature requires more labor

from man. It is evident that if Nature did for the latter what she

does for the former, their prices would tend to the same level. It is

impossible that the producer of wheat should permanently gain more

than the producer of potatoes. The law of competition cannot allow it.

Again, if by a happy miracle the fertility of all arable lands were to

be increased, it would not be the agriculturist, but the consumer, who

would profit by this phenomenon; for the result of it would be

abundance and cheapness. There would be less labor incorporated into

an acre of grain, and the agriculturist would be therefore obliged to

exchange it for less labor incorporated into some other article. If,

on the contrary, the fertility of the soil were suddenly to

deteriorate, the share of nature in production would be less, that of

labor greater, and the result would be higher prices.

I am right then in saying that it is in consumption, in mankind, that

at length all political phenomena find their solution. As long as we

fail to follow their effects to this point, and look only at

_immediate_ effects, which act but upon individual men or classes of

men _as producers_, we know nothing more of political economy than the

quack does of medicine, when instead of following the effects of a

prescription in its action upon the whole system, he satisfies himself

with knowing how it affects the palate and the throat.

The tropical regions are very favorable to the production of sugar and

coffee; that is to say, Nature does most of the business and leaves

but little for labor to accomplish. But who reaps the advantage of

this liberality of Nature? NOT THESE REGIONS, for they are

forced by competition to receive remuneration simply for their labor.

It is MANKIND who is the gainer; for the result of this

liberality is _cheapness_, and cheapness belongs to the world.

Here in the temperate zone, we find coal and iron ore on the surface

of the soil; we have but to stoop and take them. At first, I grant,

the immediate inhabitants profit by this fortunate circumstance. But

soon comes competition, and the price of coal and iron falls, until

this gift of nature becomes gratuitous to all, and human labor is only

paid according to the general rate of profits.

Thus, natural advantages, like improvements in the process of

production, are, or have, a constant tendency to become, under the law

of competition, the common and _gratuitous_ patrimony of consumers, of

society, of mankind. Countries, therefore, which do not enjoy these

advantages, must gain by commerce with those which do; because the

exchanges of commerce are between _labor and labor_, subtraction being

made of all the natural advantages which are combined with these

labors; and it is evidently the most favored countries which can

incorporate into a given labor the largest proportion of these

_natural advantages_. Their produce representing less labor, receives

less recompense; in other words, is _cheaper_. If then all the

liberality of Nature results in cheapness, it is evidently not the

producing, but the consuming country, which profits by her benefits.

Hence we may see the enormous absurdity of the consuming country,

which rejects produce precisely because it is cheap. It is as though

we should say: "We will have nothing of that which Nature gives you.

You ask of us an effort equal to two, in order to furnish ourselves

with produce only attainable at home by an effort equal to four. You

can do it because with you Nature does half the work. But we will have

nothing to do with it; we will wait till your climate, becoming more

inclement, forces you to ask of us a labor equal to four, and then we

can treat with you _upon an equal footing_!"

A is a favored country; B is maltreated by Nature. Mutual traffic then

is advantageous to both, but principally to B, because the exchange is

not between _utility_ and _utility_, but between _value_ and _value_.

Now A furnishes a greater _utility in a similar value_, because the

utility of any article includes at once what Nature and what labor

have done; whereas the value of it only corresponds to the portion

accomplished by labor. B then makes an entirely advantageous bargain;

for by simply paying the producer from A for his labor, it receives in

return not only the results of that labor, but in addition there is

thrown in whatever may have accrued from the superior bounty of

Nature.

We will lay down the general rule.

Traffic is an exchange of _values_; and as value is reduced by

competition to the simple representation of labor, traffic is the

exchange of equal labors. Whatever Nature has done towards the

production of the articles exchanged, is given on both sides

_gratuitously_; from whence it necessarily follows, that the most

advantageous commerce is transacted with those countries which are

the least favored by Nature.

The theory of which I have attempted in this chapter to trace the

outlines, deserves a much greater elaboration. But perhaps the

attentive reader will have perceived in it the fruitful seed which is

destined in its future growth to smother Protectionism, at once with

the various other isms whose object is to exclude the law of

COMPETITION from the government of the world. Competition, no

doubt, considering man as producer, must often interfere with his

individual and _immediate_ interests. But if we consider the great

object of all labor, the universal good, in a word, Consumption, we

cannot fail to find that Competition is to the moral world what the

law of equilibrium is to the material one. It is the foundation of

true gratification, of true Liberty and Equality, of the equality of

comforts and condition, so much sought after in our day; and if so

many sincere reformers, so many earnest friends to public right, seek

to reach their end by _commercial legislation_, it is only because

they do not yet understand _commercial freedom_.

What Is Free Trade? An Adaptation of Frederic Bastiat's "Sophismes Éconimiques" Designed for the American Reader · 第 4 / 23 章