SIR,—An interesting fact last week came to my notice in
this city. In connection with the supply of ironwork for a large contract here, a local firm of founders quotes about half-a-crown (reduced to English money) below the cost of
importing the ironwork from England. The English price works out thus
e a. d.
Ironwork f.o.b. per ton ... ... ... 8 17 6 Freight to Bilbao... ... 0 11 0
Import-duty, or Protection
5 16 0 Handling, railway freight, and other charges 1 7 6 Per ton, delivered in Madrid ... 16 11 0
The local quotation is 216 8s. 6d. per ton delivered. To any one who understands commerce it is clear that the Protective duty of 25 15s. per ton is paid by, the Spaniards in Spain, and not by the foreign exporter. Spain is rich in iron ores, and ought to be able to compete against the price of 28 17s. 6d. It appears obvious that Protection in this instance is putting an undue profit into the pocket of the founder (or unearned wages into the pockets of his work- people) at the expense of the community without in any way, as regards the duty of 25 15s., adding to the wealth of this
country.—I am, Sir, &c., ATHELSTANE OORDEROY. Madrid.
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