Economic Sophisms

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XXI.
RAW MATEEIALS.
It is said that the most advantageous of all branches of trade is that which supplies manufactured commodities in exchange for raw materials. For these raw materials are the aliment and support of national labour.
Hence the conclusion is drawn : That the best law of customs is that which gives the greatest possible facility to the importation of raw materials, and which throws most obstacles in the way of importing finished goods.
There is no sophism in political economy mor
...e widely dis- seminated than this. It is cherished not only by the protec- tionist school, but also, and above all, by the school which dubs itself liberal ; -and it is unfortunate that it should be so, for what can be more injurious to a good cause than that it should be at the same time vigorously attacked and feebly defended ?
Commercial liberty is likely to have the fate of liberty in general ; it will only find a place in the statute-book after it has taken possession of men's minds and convictions.


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