Excerpt from Review of Professor Sumner's Speech: Before the Tariff Commission These universal propositions he endeavors to impute to the protectionists, depicting the Commission first raising the duty in order to raise wages, and then raising it again to compensate the manufacturer for the higher wages, and so on. It is an ingenious sophism, well calculated to impose upon those whom a technical education has deprived of their natural intuitive judgment, while only half teaching them how to reason by propositions; but it ...
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Excerpt from Review of Professor Sumner's Speech: Before the Tariff Commission These universal propositions he endeavors to impute to the protectionists, depicting the Commission first raising the duty in order to raise wages, and then raising it again to compensate the manufacturer for the higher wages, and so on. It is an ingenious sophism, well calculated to impose upon those whom a technical education has deprived of their natural intuitive judgment, while only half teaching them how to reason by propositions; but it would never impose upon any thoroughly educated person nor upon any practical man. The latter would put it aside at once as nonsense, and I fear would even think me a fool for spending time in showing it to be so. What would the Commission have answered to a deputa tion of either workmen or employers asking for an advance of the duty for such purposes? Why, that if the industry already existed, and upon an average of years was paying the rate of profit usual in the community, then the duty had done all that it could do, - it had excluded the foreign product, and left the price and the wages to be arranged, as they must be, by the internal demand and supply. Higher duties, the Commissioners would have said, cannot raise your wages any more, nor raise your profits. An additional amount would positively have no effect. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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