The following sentences from Mr. Balfour's pamphlet give a short
summary of his case :—" Consider some of the points on which I have commented in these notes : the injury which foreign protection is calculated to inflict on a free trade country; its need for open markets ; the threatened contrac- tion of existing free trade areas ; the increasing severity of tariffs in protectionist areas ; the building up of vested pro- tected interests in new countries, which may be discouraged now, but not hereafter ; the effect of this protection on our future corn supply; the uncertainty and loss which tariff- protected trusts are inflicting, and may hereafter inflict, upon British capital invested in Britain. One and all of these evils, actual and prospective, are due to protection." Therefore, is the conclusion, give up Free-trade, and adopt Protection.
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