International trade

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Monograph

Identifikator:: 1758394757

URN:: urn:nbn:de:zbw-retromon-136209

Document type:: Monograph

Author:: Taussig, Frank William http://d-nb.info/gnd/120199459

Title:: International trade

Place of publication:: New York, NY

Publisher:: Macmillan

Year of publication:: 1927

Scope:: XXI, 425 Seiten; graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Theory

Collection:: Economics Books

148 ‘INTERNATIONAL TRADE in ivnd arguments for protection untenable, nay intellectually repellent, and those for international codperation and concord strong and appealing, there remains no inclination to commend this particular method of trying to capture a greater share of the total gain from trade between nations. As a dry matter of analysis, however, it is to be said that, in this matter of import duties and the barter terms of trade, the position of the United States was long a comparatively advantageous one. The country’s exports were chiefly foodstuffs and raw materials. Raw cotton bulked large among them ; an article so much wanted by other countries that they never impose duties onit. Foodstuffs, again, were never subjected to duties by Great Britain, to which they went so largely; and the duties put on them by the countries of the Continent did not seriously check the imports that way. The countries to which the American exports mainly went were thus unwilling or unable to play the game of retaliation with much prospect of success. The protective duties imposed by the United States, however, did have the effect of checking some imports heavily and of stimulating domestic production to a corresponding extent; while yet other imports continued to come in. These other imports were in part goods of the protected class which came in over the barrier of the duties, such as wool, sugar, and sundry manufactured goods. In much larger part they were tropical or semi-tropical goods which were admitted free. It was the latter which came to predominate more and more largely in the import trade of the United States. As regards these, the barter terms of trade quite possibly become more advantageous, without any such offset as must be reckoned in respect of the protected goods. So much as regards the general reasoning and some possibilities of its application. What bearing it may conceivably have on the actual course of the international trade of the United States will be considered in another connection.! 1 See below, Ch. 24, pp. 299-306.

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