CHAPTER XI.
ABSOLUTE PRICES.
If we wish to judge between freedom of trade and protection, to calculate the probable effect of any political phenomenon, we should notice how far its influence tends to the production of _abundance_ or _scarcity_, and not simply of _cheapness_ or _dearness_ of price.

We must beware of trusting to absolute prices: it would lead to inextricable confusion.
Mr.Protectionist, after having established the fact that protection raises prices, adds: "The augmentation of price increases the expenses of life, and consequently the price of labor, and every one finds in the increase of the price of his produce the same proportion as in the increase of his expenses.

Thus, if everybody pays as consumer, everybody receives also as producer." It is evident that it would be easy to reverse the argument, and say: If everybody receives as producer, everybody must pay as consumer.
Now what does this prove?
Nothing whatever, unless it be that protection _transfers_ riches, uselessly and unjustly.

Spoliation does the same.
Again, to prove that the complicated arrangements of this system give even simple compensation, it is necessary to adhere to the "_consequently_" of Mr.Protectionist, and to convince oneself that the price of labor rises with that of the articles protected.

This is a question of fact.