File:Dugald Thomson 1903.jpg

Identifier: australiafiscalp00reid (find matches)
Title: Australia and the fiscal problem ..
Year: 1903 (1900s)
Authors: Reid, G. H. (George Houstoun), Sir, 1845-1918
Subjects: Tariff -- Australia Free trade
Publisher: London : Sir Joseph Causton & Sons, Ltd.
Contributing Library: University of California Libraries
Digitizing Sponsor: MSN

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The answer to the firstquestion is they do not need it, as is shown bytheir ability to export their manufactures atequivalent prices to those quoted by British andforeign manufacturers. The answer to thesecond question is that, being able to compete inoutside markets, they could the more readilycompete with the foreigner in their own werethere no duty; but there being a duty of 50 to75 per cent, against the foreigner the opportunityof annexing the splendid profit that duty offersis too good to be lost. It might be lost, and theconsumers greatly benefit, if the manufacturerswithin the States were left to keenly contestamongst themselves ; but here arises the chanceof manipulation. Negotiations are openedbetween the manufacturers, a ring or trust isformed which binds or buys all the manu-facturers, arrangements are made to fight off anynew competition which may be attracted to thefield, unnecessary works are shut down, and theseparate competitors become one in interest andin operation.
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Rembrandt Studios, Block Arcade, Melbourne Copyright Mr. UUGALD THOMSON, M.P. A RING FENCE 19 The Advantage of the Few. In many instances the saving effected by thisconcentration of effort would in itself constitutea handsome profit, and were the combinationsatisfied with that the public would not complain.But why be satisfied when a friendly Govern-ment and a long-suffering people offer so muchmore ? Combination having replaced com-petition within the United States, and theoutside competitor being subject to a 50 to75 per cent, duty, why not take full advantageof that duty, and obtain from 50 to 75 per cent,additional profit ? That is the principal objectof amalgamation and it is usually achieved. The enormous advantage to a few manu-facturers can be at once appreciated, but whatis the result to that far larger body—theAmerican consumers ? They are already en-during the high duties on such of their suppliesas come from abroad in spite of the tariff, andwhich yield the large United

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