CHAPTER IV.
EQUALIZING OF THE FACILITIES OF PRODUCTION.
The protectionists often use the following argument: "It is our belief that protection should correspond to, should be the representation of, the difference which exists between the price of an article of home production and a similar article of foreign production.

A protective duty calculated upon such a basis does nothing more than secure free competition; free competition can only exist where there is an equality in the facilities of production.

In a horse-race the load which each horse carries is weighed and all advantages equalized; otherwise there could be no competition.

In commerce, if one producer can undersell all others, he ceases to be a competitor and becomes a monopolist.

Suppress the protection which represents the difference of price according to each, and foreign produce must immediately inundate and obtain the monopoly of our market.