THE COST OF TIIE PROTECTIVE SYSTEM.
WE have hitherto looked at Protection in its financial and commercial bearings. Let us endeavour to estimate its cost to the public, by the manner in which it artificially raises prices, not for the benefit of the revenue, for its tendency is to lower it ; not altogether even for the ad- vantage of the protected producer, for not half-perhaps very little-of the increase of price eventually finds its way into his pockets. The bulk of the addition is mostly dribbled away in various modes, and is in reality so much waster' ; whilst its most usual result, even to the parties protected, is to encourage their persistence in an unprofitable pursuit.
The sum taken from the public by the protection to manufactures, it is perhaps impossible to estimate with accuracy. That on some of the principal agricultural and colonial productions is not so difficult ; and the following table will convey a partial idea of its amount. It will be seen that, at a moderate computation, nearly twenty-two millions are annually extracted from the pockets of the people by the protection otz a very few articles. Considering the other commodities, colonial, agri- cultural, and manufactured, which are subjected to protecting duties, it is probable that the Monopoly System imposes a burden upon the people of this country equal to one half the amount of its taxation. Yet if any one were called upon to select the most embarrassed classes of the community, he would at once point to those which are crippled with protection-the Colonists, the Agriculturists, the Silk-trade, and the East India Company.
AORICULTURE. Corn-laws. estimated by Sir Henry Parnell and others at £12,500.000, by Mr. M'Culloch (in ordinary years) at £ £9,100,000, will at a medium give 10,800,000 Butter and Cheese Bacon Beef and all other Meats prohibited COLONIES.
Sugar Coffee (AND AGRICULTURE.) Timber estimated at £1,000,000 and X1,500,000, gives a me• Spirits 1,250,000 diem of 1,500,000 EAST INDIA COMPANY. Tea X21.760,000 660,0
13" 550 000
1,600,000 400,000 2,000,000
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