186 AN INQUIRY INTO THE NATURAL LAWS WHICH 



in effect amounting to a robbery of the multitude for tbe benefit of a 

 few ; and a thwarting, as far as our power goes, of the great providen- 

 tial plan for the free diffusion by human industry of all the bounties 

 of nature and the conveniences of art over the whole world. 



But it is thought by some, that the excessive payment (for the mo- 

 ment we will abstain from calling it by its proper name plunder, which 

 it deserves, as being forcibly extorted by the agency of power) made 

 for home products, is more than compensated by the advantages 

 derived from their being produced at home ; and also, that allowing 

 the principle of restriction not to be good in itself, it may be made 

 desirable and almost necessary by the conduct of other nations to- 

 wards us. It may also be said — and we all know that it is main- 

 tained — that the requirements of a country in the way of revenue, 

 may justify high duties on imported products, and that if these du- 

 ties encourage home production, this benefit repays us for the evil 

 they inflict. To these points, then, we will in conclusion direct 

 our attention. 



As to the first point, I believe there can be no question raised 

 in relation to the facts to be considered. On the one hand, no one 

 denies or doubts that increase in the quantity and variety of the pro- 

 ducts of industry in a country, is a blessing to its inhabitants, pro- 

 vided it is not extravagantly paid for ; and it is evident that an 

 artificial raising by commercial restriction or a heavy import tax of 

 the price of an article, will afford an opportunity to home producers, 

 who before could not compete with the countries already advantage- 

 ously engaged in this particular branch of industry. On the other 

 hand, this very statement of the way in which benefit is sought, ad- 

 mits, and it is indeed undeniable, that we pay more for the new pro- 

 duction than we need do for a similar or better article imported. "We 

 should pay to the importer the natural price, depending only on the 

 labour, immediate or capitalized, which has been employed, and on 

 the usual rate of return for it. We pay to the home producer that 

 price — the (/?) of our previous statement) with the addition of a 

 quantity (a;), expressing the amount that the price is raised by the 

 duty imposed. The whole body of consumers, — probably many 

 thousands, — are taxed to this extent for the sake of having the article 

 produced at home instead of abroad. 



It is said that the benefit consists in employing a greater quantity 

 of the labour of our own people, and in avoiding sending money out 



