An Essay On Free Trade

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" A recent Encyclopaedia, " The -National, " published in London, Glasgow and Edinburgh, by William McKenzie, discusses Free Trade under several heads. A paragraph under the head of " Capital " is as follows : " The para- mount value of capital should never be overlooked by government ; unwise laws, restrictions upon commerce, improvident taxation which are unfavorable to its growth should be dreaded as poison to the national wealth and happiness. But while the national growth of capital should... not be interfered with by restrictions, the opposite error of forcing it into particular channels should equally be avoided. Industry requires from a govern- ment nothing but freedom for its exercise, and capital will then find its own way into the most productive em- ployments: for its genius is more fertile than that of statesmen, and its energy is greatest when left to itself. " Although thirty-two years have elapsed since the ad- vent of Free Trade in England, there has been no change in public sentiment on the subject, only that this is more confirmed than ever in favor of the policy.

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