A BllIEF EXAMINATION OF Fl^EE-TRADE PRINCirLES 353 



determine because of the multitudinous ramifications of all 

 economic (questions ; but that it would go far to compensate for 

 any falling off in imports of wheat that might be experienced 

 through the local production of our own corn supplies, is clear 

 enough. It might fully compensate for such decrease ; indeed, 

 this would appear to be the case for the following reasons : — 



Growing our own Corn unaffegts Carrying Trade 



It is held by economists that the world's carrying trade is 

 not affected by the increase or decrease in the irajjorts or 

 exports of any particular country, but only l)y an increase or 

 decrease in the aij^ircgalc trade of the world. This is an 

 economical dictum that practically amounts to a law. The 

 fact of growing our own wheat instead of importing it does not 

 diminish the world's trade by a single ton, it simply shifts the 

 venue from one country to another, in so far as this p;irticular 

 item of merchandise is concerned ; and as our country — which 

 would assume the new rule of wheat growing — is infinitely 

 richer than many of those that have hitherto maintained it, it 

 is evident that its purchasing power would be urcater. 



The greater the purchasing power of a people, the greater 

 is the demand for commodities ; and the gi-eater the demand for 

 manufactured goods, the more must raw material be imported. 

 This also is an economical dictum practically amounting to 

 a law. 



Although, then, there seems to be a certain amount of jJrimcl 

 facie evidence that growing our own corn would result in a 

 falling off of imports to that extent only, it does not seem to be 

 capable of substantiation when the pros and cons of the case are 

 circumstantially examined. 



Summing up the case, it seems as though there is at first 

 sight a certain amount of evidence that might support the 

 abstract theory that growing our own corn would result in a 

 falling off of imports to the extent and value of the corn less 

 imported ; but, like many " abstract " propositions, it is utterly 

 incapable of demonstration the moment it is tested by the 

 practical common-sense experience demanded in " concrete " 

 examples. Indeed, few, if any, of these pretty economical 

 theories are capable of substantiation, when the pros and cons 

 of the case are circumstantially examined ; and those who care 

 to put practically the whole of the Free-trade contentions, as 

 expounded in " The Free-trade Movement," to similar tests, ^v'ill 

 soon learn upon what an unsubstantial basis the entire Free- 

 trade structure has been founded. 



2 A 



