sake, I do object. I therefore oppose the present tariff, and the whole
doctrine by which it is attempted to be justified. I make war against
all its protective features, and insist that the laws which contain them
shall be amended, so that out of the importations upon which the duty is
levied the greatest possible revenue for the government may be obtained.

What, then, is the theory of protection? It is based upon the idea that
foreign produce imported into this country will enter into competition
with domestic products and undersell them in the home market, thus
crippling if not destroying domestic production. To prevent this, the
price of the foreign goods in the home market is increased so as to keep
them out of the country altogether, or to place the foreigner, in the
cost of production, upon the same footing as the American producer. This
is proposed to be done by levying a duty upon the foreign importation.
If it be so high that the importer cannot pay it and sell the goods at
a profit, the facilities of production between this and other countries
are said to be equalized, and the American producer is said to be
protected. It will be seen, therefore, that protection means the
increase of price. Without it the fabric has no foundation on which to
rest. If the foreign goods are still imported, the importer adds the
duty paid to the selling price. If he cannot import with profit, the
American producer raises his price to a point always below that at which
the foreign goods could be profitably brought into the country, and
controls the market. In either event, there is an increase of price of
the products sought to be protected. The bald proposition therefore is
that American industries can and ought to be protected by increasing the
prices of the products of such industries.

There are three popular opinions, industriously cultivated and
strengthened by adroit advocates, upon which the whole system rests,