Word: pol
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Dates: during 1890-1899
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...country into complications abroad; Cleveland's First Annual Message 1883. - (b) as an industrial policy - (1) It would open the door to fraud and corruption. - (2) The Government has never shown fitness for industrial and commercial undertakings: Quar. Jour. Econ. I. 169; Polk's First Annual Message, (1845) Pol. Sci. Quar...
...policy of protection is sound in principle.-(a) It enables a country to fix the terms of exchange in foreign trade.-(1) Foreign demand for our commodities is necessarily great.-(2) Protection lessens our demand for foreign commodities: Bowen, Am. Pol. Economy, 480.-(b) Protection is the best means of increasing the "consumer's rent;" Marshall, Principles of Economics, 508; Patten's Economic Basis of Protection...
Best general references: Bastiat Sophisms of Protection; Grosvenor, Does Protection Protect; Henry George, Protection or Free Trade; Mill, Principles of Pol. Econ. II, 531-510; The Nation, IX, 428 (Nov. 18, 1869), XXVIII, 161 (Mar. 6, 1879), XXIX, 338 (Nov. 20, 1879), XXXIV, 288 (Apr. 6, 1882), XXXVI, 118 (Feb. 8 1883); Sen. Carlisle, Cong. Rec, XXIII, 7, pp. 6910-5917 (July 29, 1892); Speech, Col. McClure, Sept. 26, 1892, pamphlet; Democratic Campaign Book; D. A. Wells in Forum. Sept. 1892; F. A. Walker, I. J. of Ecn., Apr. 1890; E. A. Atkinson in Pop. Sci, Monthly, XXXVII...
...policy of protection has proved beneficial in practice.-(a) Without it no country has secured a symmetrical development of its industries; Thompson, Pol. Econ., 267.-(b) Every period of protection in the United States has been followed by great material prosperity; Statistical Abstract, passim...
Best general references: Quarterly Jour. of Econ. II, 184-185 (Jan. 1888) and IV. 158-171 (Jan. 1890); Pol. Science Quarterly II. 369 (Sept. 1887); Report of Inter state Commerce Commission I. 307-312 (Dec. 1,1887), II, 436 et seq. (Dec. 1,1888), III, 394 et seq. (Nov. 30, 1889), IV. 351-358 (Nov. 29, 1890); Report of Senate Comm. on Interstate commerce in Senate Reports (No. 46) 1st Session 49th Congress (1885-86) III, Part...