The Commerce of Nations by Charles Francis BastableThe Commerce of Nations by Charles Francis Bastable

The Commerce of Nations

byCharles Francis Bastable

Paperback | May 20, 2014

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ... CHAPTER XVIf. COMMERCIAL FEDERATION. CONCLUSION. One very noticeable effect of recent developments of commercial policy has been the increased importance of measures for trade federations, or fiscal unions. As instances we have plans for unrestricted commerce between the United States and Canada; for Australian federation; and on a larger scale for the formation of a Customs Union of the British Empire, or even for a Pan-American or Central European League. These various proposals differ widely in reasonableness and practicability, but they are all, at least in part, prompted by the desire to escape from the cramping limitations of the protectionist system. So long as high duties merely check foreign imports their upholders do not complain; but when their further inevitable effect in reducing exports comes into view, there is a general feeling that some remedy should be tried, and the readiest one seems to be the opening of new markets by the agency of special agreements, or by union. The direct connexion of this desire for commercial unions with the prevalence of protection becomes evident when we consider that if free-trade were generally adopted there would be no need for any such expedients. Where home and foreign products are treated on exactly the same terms no further benefit can result from trade federation. It may be of service in introducing freedom, but once that object has been gained its advantage ceases. Free-trade means nothing but the removal of all artificial discouragements to foreign trade, and the best-devised agreement can do nothing more. Moreover, the universal adoption of a free-trade policy would reduce to a minimum the economic effects of national distinctions. The ideal of Cobden and his followers was that of a...
Title:The Commerce of NationsFormat:PaperbackDimensions:108 pages, 9.69 × 7.44 × 0.22 inPublished:May 20, 2014Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217756093

ISBN - 13:9780217756099