How Protection Works in Austria.

Evening Star, Issue 7326, 26 September 1887, Page 3

How Protection Works in Austria.

Protectionists' ideas have for a period of nearly ten years been in the ascendant in Austria (says a Home paper), and, instead of the period of general prosperity which was predicted when the system of autonomous tariffs was initiated in 1878, apprehensions are very generally expressed of a commercial crisis. In a report drawn up by Mr Phipps, Her Majesty's Secretary of Embassy, the position is thus described :-p" The agriculturists, who could some years ago compete in the European markets, are becoming restricted to the domestic consumption ; the tariff war with Boumelia has robbed the monarchy of a field where industrial products to a value of over L 3,000,000 sterling found a market, and the prospects for the conclusion of satisfactory treaties with Germany and Italy are very unfavorable. The prices of corn have sunk to an unexampled extent; and, while this country has revised its tariffs three tinies during the period referred to, hardly a year has passed without some State with which Austria : Hungary is in direct commercial relations having submitted its own tariff to a revision unfavorable to her interests. The railways, to a great extent in the hands of the Government, are paying reduced dividends ,and their traffio is, restricted}; and those' vho nine years, ago,' were .-'most okworons, fop protection are complaining, that ArisM* w

being reduced to the position of a State which consumes its own products, and which is an isolated and close commercial State.' Further signs of depression are seen in the diminished powers of consumption of tho population, the depreciation of house property simultaneously with an increase in rent in consequence of the enhanced burden of taxation.