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petition." But how was competition to be made pure? By free trade becoming universally applied to all the tariffs of the world. This was the promise held out to those who trembled lest we should become isolated in our arbitrary action. What will happen, said they, if, we being free-traders, other nations remain protective? One-sided, unequal, or "impure" competition.
And this is exactly what has happened.
The free-trade policy was carried by two main promises: 1. That our agriculture should not suffer; 2. That all other nations would become free-traders.
Neither of these promises has been fulfilled.
The introduction of free trade has been falsely ascribed to the action of the masses. In reality, it was effected by the Manchester (and this was the manufacturing) school of economists.
But whatever part the general public took in the original change, they alone will have to decide whether the reform is to continue, or whether it may be reversed or modified with advantage to the whole community.
London, November 1888.
P.S.—The quotations from Cobden's Speeches will be found in The Student's Edition, edited by Right Hon. John Bright and Professor Thorold Rogers.
BECAUSE SOME INDIRECT TAXATION IN COURSE OF TIME BECOMES