THE AMERICAN TARIFF. 247 



ludicrous fear, were it not for the saving recollection of 

 fears not less vain entertained in former times by 

 ourselves, when as yet the laws of social and national 

 well-being were misunderstood. If we were to admit 

 the hypothesis, unproved and unsound though it is, 

 that in the long run a nation will gain by an enforced 

 diversity of occupations, we must yet reject the second 

 assumption on which the reasoning we are considering 

 depends. There is not merely a contradiction in terms, 

 but a very real and actual contradiction, in the hypothesis 

 that Protection can foster self-dependence. The manu- 

 facturers of all countries which, like America or our 

 chief colonies, contain within their own bounds abun- 

 dant resources of nearly all kinds, are naturally pro- 

 tected ; for the manufacturers of other countries are 

 not only weighted by the cost and risks of transport, 

 but by market risks. Where, with these advantages 

 in their favour, home manufactures are unable, in 

 the long run, to maintain a successful contest against 

 foreign manufactures, it may fairly be admitted that a 

 nation's capital will be more advantageously employed 

 in other pursuits. In such a case Protection can no 

 more avail to encourage self-dependence than corks 

 and bladders to make a powerful swimmer of one who 

 is of weakly frame. Where, however, a new country is 

 peculiarly fitted for some manufacture, it has been 

 held open to question, by political economists of the 

 highest order, whether Protection may not be advan- 

 tageously used for a time, to encourage and develope a 

 branch of industry which otherwise might not have 



