Chapter III.: PROTECTIONISM EXAMINED ADVERSELY.

62. I have so far examined protectionism as a philosophy of national wealth, assuming and accepting its own doctrines, and following them out, to see if they will issue as is claimed. We have found that they do not, but that protectionism, on its own doctrines, issues in the impoverishment of the nation and in failure to do any thing which it claims to do. On the contrary, an examination in detail of its means, methods, purposes and plans show that it must produce waste and loss, so that if it were true, we should have to believe that waste and loss are means of wealth. Now I turn about to attack it in face, on an open issue, for if any project which is advocated proves, upon free and fair examination, to be based on errors of fact and doctrine, it becomes a danger and an evil to be exposed and combated, and truth of fact and doctrine must be set against it.

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