Our Governmental Policy Speech of Hon John Thompson of New York

Cover Our Governmental Policy Speech of Hon John Thompson of New York
Our Governmental Policy Speech of Hon John Thompson of New York
John Thompson
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In this age, no in- terest, trade, or calling, should be protected for the sake of protection ; it is, to some extent, a tax on the rest of society. The theory of free trade can never be refuted, provided you discard the idea of separate, hostile, or dependent na- tionalities. The principle as such is unanswera- ble, standing alone.
But the dilticulty is, it does not stand alone. It is controlled and modilied by countervailing national legislation, by revenue necessities, hy the balance of trad
...e, and other disturbing forces, that place it among the class of political expe- dients which a people may alter, increase, or di- minish, as the best interests of the times may demand ; and if, in such increase or diminution, discrimination can be made which will operate incidentally as a protection, so let it be ; pro- vided, always, if it be not so large as to stimu- late an outlay which a slight or even considera- ble change in the necessities of Government might destroy. Our manufacturing interests are not benefited so much by high as by steady tariffs.

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