374 SMs. [April, 



prepossession would quickly wane. It would soon become a matter of 

 indifference with the fashionable, we mean with the dressing world, 

 whether silks were English or foreign ; or rather, if silks were not alto- 

 gether abandoned, which is not so very improbable, the foreign itself 

 would sink in the scale, and the English in its turn gain the ascendancy. 



No, we must believe, the minister expects virtually to protect. He 

 proceeds on the supposition, that the foreign manufacturer can work up 

 his goods at about 15 or 20 per cent, below our own ; and that the dif- 

 ference of 10 or perhaps 13 per cent, will constitute an adequate pro- 

 tection — that is, it will pretty fairly countei'balance the prejudices in favour 

 of the foreign. 



And that it perhaps might, were it not for the tricks of the trade. 

 These tricks however will be sure to be played, and against them the 

 minister has not provided. By one of the commonest collusions of trade, 

 the warehouseman will be able to cut off at least 10 per cent. He will 

 purchase in France and Switzerland, for instance, at 5s. a yard ; the 

 invoice will exhibit 4s. 6d. ; and the duty will be paid on the 4s. 6d., and 

 not the 5s., thus reducing the amount 10 per cent. Now if this sort of 

 manoeuvre were generally practised, the duty would in effect fall to 20 

 per cent. That sum would place the home and foreign articles only on 

 a level in price, which, as we have said, is certainly no protecting price ; 

 and in proportion to the extent of this evasion will be the paralyzing 

 effect upon the English manufacture. On such evasions, the minister 

 has apparently not calculated ; and yet, however revolting it may be to 

 men of high feeling and integrity, or however beneath them they maj'' 

 think it to ferret into the filthy recesses of trade — we say, if they will 

 meddle with such matters, they must not stick at soiling their fingers, 

 and, as far as is practicable, counterworking them. 



But ascribing to the merchant and warehouseman more credit for fair- 

 dealing than we are inclined to do ; and supposing the 30 per cent, to 

 raise the price of foreign silks 10 or 15 per cent, above that of our own, 

 and nothing short of such advantage will enable the home manufactiu^er 

 to compete with the foreign ; will not this again be to encourage smug- 

 gling ? Not to encourage it — if we mean by encouraging, augmenting 

 it : but certainly, to keep it up to the same point it stands at present. 

 Silks can be smuggled at 15 or 20 per cent. ; and therefore the foreign 

 trade will probably continue to run in the old channels. No stimulus 

 exists strong enough to change the course of it ; the short of it is, if 

 30 per cent, be adequate to protect the silks in the open trade, it is suf- 

 ficient to repay the labours and hazards of the smuggling trade. The 

 home-market therefore will remain as before ; the foreign goods will be 

 smuggled as before ; and the minister's measures, lauded on the one hand 

 and execrated on the other, as they are, will eventually prove simple 

 nullities. 



Is it not then, after all, the purpose of the government to realize the 

 principles of Free Trade ? Why, the substitution of protecting duties for 

 prohibitory laws is no proof of it. Is it then their intention to keep up 

 tlie Silk Trade monopoly ? We think so ; though we by no means believe 

 that object to be the preponderating motive. No, w^ believe them 

 governed by financial reasons. Their object is the improvement of the 

 revenue ;* and the means of accompUshing that object — highly com- 



* We use tlic customary language ; but, of course, every body uow-a-d.iys knows 

 tljat the phrase, improvancnl of (he revenue, means increase of taxation. All revenue 



