The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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830 LAISSEZ FAIRE AD Jas unrestricted commercial intercourse. They laid stress on 2gainst the the desirability of enquiring into the effects of the existing watem of system and seeing how far it had induced the depression regulation of which they complained. They also noted that the main- tenance of protective tariffs of any kind in England provoked retaliatory measures on the part of other nations, and that English trade was seriously affected by restrictions imposed in foreign countries. There was one small but immediate measure of relief. Since 1714 the importers of tobacco, rice, and other colonial products had had the opportunity of depositing goods under bond in warehouses, without paying customs, and with a view to subsequent exportation. This privilege was ex- tended to all merchants importing goods of any sort?, in the hope of making England a depot, not only for colonial produce, but for all kinds of merchandise. The same object was put forward in the following session as a reason for fangh Vin greatly modifying the Navigation Laws. The question as to dots. whether these Acts were beneficial or not had been much debated in the seventeenth century? but in the nineteenth there seemed to be a general consensus of opinion as to their operation. An opponent of any change admitted that the navigation policy in vogue, “is certainly not favourable to the growth of our own foreign commerce, or of that opulence which arises out of it, but while it makes commercial profit a subordinate object, it lays the foundation of naval power” The advocates of abandoning the system did not disparage it; but argued that it had served its political purpose?, and that the shipping of the country might be trusted to flourish so long as commerce prospered. “What,” Mr Wallace asked, “was the best and truest support of the navy, but a large, extensive, and flourishing commerce? He did not know a country in the world that bad a great navy without an extensive commerce, neither did he know any State that had a flourishing commerce without being at the same time a great naval power®.” As things stood, the colonial trade was i 1 George IV. c. 7. 2 See above, p. 210. } Mr Marryat in Hansard, N.S. v. 1300. \ Mr Wallace in Hansard, N.S. vir. 714. 8 Mr Wallace in 3 Hansard, vir. 713.

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