PROTECTION.
TO THE EDITOR. Sir, —The rise in the share value of Iho various New Zealand woollen companies, as quoted by Mr Dransfield, has only a remote bearing on the merits of Protection. Thirty years ago there was a successful woollen mill in the Colony, and the most profitable years of the Mosgiol were before wo had the Protection which delights Mr Dransfield. Since the inflictions of a protective tariff on the Colony, two woollen companies have been wound up with large loss. Another, our local company, lias written off a large part of its capital. At this mill, overtime and night-shifts have disagreeably alternated with, the discharge of hands, and partial employment, oddly the largest profits being shown when the mill was only in part work. The career of these companies is, so far, but a sorry instance to roly on as a proof of the benefit of Protection over Frcetrade. The case must bo bad when this is all Mr Dranafield can show.—l am, etc.. Freetrader.
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Bibliographic details
New Zealand Times, Volume LII, Issue 9317, 11 June 1891, Page 4
Word Count
168PROTECTION. New Zealand Times, Volume LII, Issue 9317, 11 June 1891, Page 4
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