He would, in effect, go near to living up to his habitual professions touching international peace, instead of professing to live up to them, as the exigencies of his national enterprise now conventionally require him to do.

In effect, he would be _functus officio_.
There are two great administrative instruments available for this work of repression and national self-sufficiency at the hands of the imperialistic statesman: the protective tariff, and commercial subvention.

The two are not consistently to be distinguished from one another at all points, and each runs out into a multifarious convolution of variegated details; but the principles involved are, after all, fairly neat and consistent.

The former is of the nature of a conspiracy in restraint of trade by repression; the latter, a conspiracy to the like effect by subsidised monopoly; both alike act to check the pursuit of industry in given lines by artificially increasing the cost of production for given individuals or classes of producers, and both alike impose a more than proportionate cost on the community within which they take effect.

Incidentally, both of these methods of inhibition bring a degree, though a less degree, of hardship, to the rest of the industrial world.
All this is matter of course to all economic students, and it should, reasonably, be plain to all intelligent persons; but its voluble denial by interested parties, as well as the easy credulity with which patriotic citizens allow themselves to accept the sophistries offered in defense of these measures of inhibition, has made it seem worth while here to recall these commonplaces of economic science.
The ground of this easy credulity is not so much infirmity of intellect as it is an exuberance of sentiment, although it may reasonably be believed that its more pronounced manifestations--as, e.g., the high protective tariff--can be had only by force of a formidable cooperation of the two.