I boldly maintain that the principle of protection to domestic industry, meaning thereby legislative encouragement for purpose of protection-duties on import imposed for that purpose, and not for revenue, is a vicious principle. I contest the hon. Gentleman's assumption, that you cannot fight hostile tariffs by free imports. I so totally dissent from that assumption, that I maintain that the best way to compete with hostile tariffs is to encourage free imports. So far from thinking the principle of protection a salutary principle, I maintain that the more widely you extend it, the greater the injury you will inflict on the national wealth, and the more you will cripple the national industry. (Robert Peel)

I boldly maintain that the principle of protection to domestic industry, meaning thereby legislative encouragement for purpose of protection-duties on import imposed for that purpose, and not for revenue, is a vicious principle. I contest the hon. Gentleman's assumption, that you cannot fight hostile tariffs by free imports. I so totally dissent from that assumption, that I maintain that the best way to compete with hostile tariffs is to encourage free imports. So far from thinking the principle of protection a salutary principle, I maintain that the more widely you extend it, the greater the injury you will inflict on the national wealth, and the more you will cripple the national industry.

Robert Peel

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assumption best contest cripple dissent domestic encouragement extend far fight free hostile import industry injury legislative meaning national principle protection purpose revenue thinking way wealth hon

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