22 AUGUST 1903, Page 16

[To THE EDITOR OE TIlE "SPECTATOR."] S111,—An instance of an

industry ruined by Free-trade appears to be afforded by the thread trade. In 1885 Marshall's firm had a large thread factory at Leeds and another at Shrewsbury. The heavy import-duties which they had to pay in the United States before their thread could be sold there interfered so much with the profits that they closed their works in England and removed their plant entirely to America, thereby securing the American market free of duty, and sending their thread to England also free of duty. Owing to Protection America gained this industry, while England lost it by Free-trade.—