SAFEGUARDING
[To the Editor of the SPECTATOR.] SIR,—Sir Henry Page Croft in your issue of December 15th cites figures to prove that between the years 1880 and 1927 three protected countries increased their exports of manu- factured articles per head of population to a greater extent than Free Trade Britain. He infers that this higher rate of increase was due to Protection.
It is not clear why Sir Henry selects the period 1880 to 1927. Our Free Trade policy began in the 'forties not in 1880, and other countries adopted Protection long before that year. The figures for the period 1850-1880 would probably tell a very different tale.
Free Traders, however, while admitting the figures, dispute the inference. This country started early in the industrial race. In 1880 it was well ahead, its rivals were far behind. We have not a monopoly of skill and industry, and other
countries are gradually making headway, but even the U.S.A.
with its vast and varied resources, a territory 120 times as extensive and a population 21 times as numerous as ours has not yet overtaken us.
It is true that the rate of increase of exports from the U.S.A., Germany, and France during the half-century has exceeded ours, but that is what one would expect for, when small firms are expanding to the dimensions of a big one, they are obviously able to show a much higher rate of expanding profits than their rival.
There is no reason why we should be perturbed at the success of other nations, our export of manufactures per head of liopulatioil is still approximately double that of any of our competitors. Protection cannot be regarded as a very effective spur if its application for half a century has left its victims half-way down the course. —I am, Sir, &c.
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