The Results of Protection

Feilding Star, Volume XIII, Issue 99, 18 February 1892, Page 3

The Results of Protection

The Victorian statistician (Mr Hayter) E[ires particulars relative to the trade of Victoria, which show how shockingly a disappointment Protection luis proved. Here are his own figures of decline: — Last year the exports of machinery which is protected to the extent of 25 per cent., fell £33,844. Roots and shoes, protected at from 4s to 33s per dozen pairs, fell in the exports £2,200, while the decline over a run of six years was £27,000 for the year. Prese;Vc'd meats and bacon, protected to the extent of 2d per ib, fell in the exports £26,000, the decline in four years being £110,000. Flour protected to the extent of 24s per cental, fell £28,047 in a single year ; while nit ! i grain and pulse the exports stood for 1884 €1,703.300, as against £882,000 in 18S*8, the fall being over half a million. Tlie total decline in exports, almost wholly of protected articles, was £1,165,» : 160 for Ihe year. It must be understood that these were exports of articles described hy Mr Hayter as " the produce or manuf icture of Victoria." On the year compared by Mr Hayter there was, on the whole, an increase of exports as compared with the previous ', year amounting to £1,858,654. But he I was sorry to say that what made up the difference anrl brought up the balance ( was an increased export of £2,512,521 in sovereigns. The total export of money for the year was the enormous amount of J £3,524,643, the increase being as above stated. Thus does Mr Hayter show that Protection has vastly decreased the cx- . port of Victorian goods, but increased j the export of sovereigns. This is keeping money iv the country with a vengeance.