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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Problems of verification

Collection:: Economics Books

304 INTERNATIONAL TRADE consequences of such duties are the same as those of a decrease in the country’s demand for imported goods. Indeed, a protective system may be said to amount in substance to a conscious and deliberate determination to buy less of imports; and the less of im- ports a country demands, the more favorable are the barter terms for the imports which it continues to take. Signs of such tendencies are to be discerned in the international trade of the United States after 1900. The imports from European countries tended to slacken or remain unchanged, in face of a rapid growth in population and wealth. Those from tropical and oriental regions showed steady and rapid increase. The imports of textiles into the United States, for example, remained virtually stationary (in money value) for several decades preceding 1914, and showed a distinctly declining course during the particular period here under consideration. Meanwhile population was grow- ing fast, and the domestic production of textiles was growing even faster than population. And a similar tendency is to be observed in the imports and the domestic production of other goods which Kuropean countries supply to the United States. The growth of manufacturing industries in the United States dur- ing the half-century following the Civil War of 1861-65 is familiar. Beyond question it was promoted by the protective system. For the present purpose it does not matter whether the growth is regarded as healthy or unhealthy — such on the whole as con- duced or did not conduce to the country’s material prosperity. It may have led to the development of industries which remained dependent on tariff support and were in effect a burden on the country ; or it may have led, thru the processes which are assumed in the argument for protection to young industries, to an eventually beneficial nurture of manufactures in which the country proved in the end to have a substantial and sufficient comparative advantage. Results of both kinds seem to have accrued.! The question per- tinent for the present inquiry is merely whether a decline in imports. 1 As I have tried to point out in my book on Some Aspects of the Tariff Ques- tion, to which the reader is referred for a detailed examination of the points here indicated.

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