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The Wert mnrter Review vol. 46 Efbrartan Wetarpaca Joykcishwn Pubtio Libeap Govt of West Bengal Colonet Torrens on Free Traste. a country haa te offer in exchnuge for foreign productions, is at any given moment of the the mento auc limit of the demand for such foreign productions, Thus much for the propor Vow dees the “example” given afford us Sny explanation? How can a * femaud for foreign proxath consist of ”tdiat which we lave to offer? We may press a€ tf meaning whieh Colonel “Forrens intends to convey, and which Srobably és that if Eugland has 1,000 hales of Zoods, wid Cuba has 1,008 Logsheats of pr Guo aul thor to bnstr the une forthe oer, then al af goa will be the equivalent for a hogshead of produce. ‘Th proposition in itself is of little vatue. Tt could he truc only if the ixmeut created by Colonel Torrens were also trac, of Viughul nit Cuba being the aaly countries having commercial interconrse each with‘the other. “The passage may serve to suggest wheter it anthor ia fitted to become the expounder uf doctrines, and nay afford means for uecounting for the effect which his recent writings are aaid io have prodnecd upon yeople unaccustomed ta the examination of subjects connecte with cconnmtical scienes, aml unwed to detect the fallacies that aro protty sure to | unos a style, for describing which there is no legitimate 1g! worth vo that we are driven to the columnx of the dang di Houary, and to doreow from it tho expression rigmarule. Ye betrays a most aingulw want of congruity in the mul of Colonel Torrens that he sould Lave chosen tor the illusttat of ds theory our intereowrse with Cuba, Mad lie kava thing of the niture of that intercourse, he must have be seimia that it affords in itself a perfect answer to that thaory, tor the true, awr trade mist Joug since lave consummated dhe 1 of the ialand, seeing chat ite tariff is far les hhontile to ns than ony tariff is to it, for it takes of ove maitufactures a very nyo amonnt, while we wholly exclude its produce hy proi- hitory duties, ‘The case of Switzerland, 800, migltt have muggested a dont ax ta the truth of Colonel Torrens “ niatheinatical deramstiation,”” neeing that on overy sie the Cantons have ta encounter hostile tovifls, while they are wholly without any tariff, and yet mmage ions atherwise disadvantageous to curry on prosper- ously their anenfuetores and their foreign eomumeroe. Before pyocceding at greater length to show that the theory brought forward by Colonel Torrens has no true fountlation, may be well still further to oxpose the want of elearnese'bf bis mind a5 seen in the manner of enunciuting his positions, At page 8 of this Postscript we find the following pussage:— *< Let us now vary our exposition and asmme that England and Cuba impose npon the produétions of egek other an import duty, o¥ 4 Colonel Torrens on Bree Brade, 100 per cent. The offect of this duty would be to dil faaly the demand ia each Bowley for the products of the other. Consumers in Bagiand would have as before 1,000 Iles of fivished. good with whichao pnrehaso Cu protien 500 ales would Tow he pat into the "Cropsugy on acvomnt of the dusty, wul conse quently, io more than ng 500 bates could be exparted in aymam of the for nee.” An ke manner, the produc in Etta would ave as before 1000 heggsieade pf pred te hy ont in the purchase of British yous, Lut ont. of the 1,000 hoxfonls whieh they paid yo the importing merece, 200 Ropwheads woul referred by him to the ‘Treasury al Cuba, aut enity the ngy 00 axportedd to Kughnedd, Tr Hngtand, the value af tre al produce estimated in fiaisheil goods woutd bo doubled 5 and in Ethel viluoot nished yoode in velation ta raw prodnen wuld be doubled.” fh, vy ono of flius sinting his propositions, Colonel ‘Tur teneeonverts the import Haty af Cuba huto auespart duty of England, anil dice reread, Vat the operation, independent of this jumble, would not he conducted as stated. By the hypo- thesis, Kngha Ives inde 1,000 bales of gooubs and Cuba 1,000 Togsheudy al produea move than each requires, intl iL woul not: ‘result from tho imposition of dutios ax iwisumed, that an ierensed demand wauld arise Chbn.for 500 hugsheads of prauee. "Che 1,000 bales and 2,000 hogthends, respectively, must still be exported, and iuhubituits of Cuba had nothin to give in exchange laut. th 1,000 hogsheads, and fe merchants of England Aothing to offer but their 1,000 bales, the importer in the tw cauateios wanld pay the duties upon the L000 packages imported by then respectively, and those duties would sot be in diminution of the wt proceeds. Ry the hypothesds the rate of duty bs [00 por outs; it will therefore vosnlt that finished goods jin € Vt “produce” in England will be dearer ta the respeetive eon- somers than they were Wefore the dutios were imposes), possibly by the” full amoint of the daty, but prohubly by the groatost part of the impost s hut the duty ealleeted in each eouatry would of coarse relieve ihe inlabitanta of each from wn eqaal weight of taxation in sone other direction, nd each would thy, atter paying the duty, have the sane incans uf consuming the finished goods aul the * produce” as before. Golontl Torrens is of a different opinion. He says-— fi the above coy the trade etween Hngland el Cuba worl be diiniind one Half — half the former quanuly of ra produce would be imported into Bngland, ant hall the former quaatsty of fiuiched goods inta Cuba, But it’ would not w ily follow thar she’ azgtegate wenih or she aggregate consumption of wither England for 500 bales of goods, nut i the the Cutonet Lurrens on Free Trade. 5 ‘eoun af dim inh Ly this contraction of its foreign'trade. Tu Eiygtand, hough the ysuniity uf sugar would le diminived oue half, yet'oue half of the goods formerly sent out fa oxclange for sugar, would he relained in te evuniry, giv consumed by thoxe for whost xervices the tax might bo ulvaoicel ; aus in Calg, while the juslity of Bt, goods, would be hed ome heal the domestic products formerly sont Put in payu gouds, would bu retained in payment vf the duty, and would ang- nent the ublic reAaue by the amurmt ebstragied from the ravenues of the constimors of British fubrics.”—Pp, 8,5. 8o dat the English guverument ix tn iutreepe 500 Tales of gooils which would otherwise go to Cuba, to keep them at home where they are nut wanted, and where their presence em only to reduce the price of the like sroadke snide for ome usey to dinteifnite them among # these for whose services the fax le sulvaced?” Whe’ those persons ight be dove not appears indeed, the whole ¢ partakes ina veey great ilegree of the eonfasim tal mares Ueoughout this + wathe- matical demoustration.” If this interceptian twok place the effet munt he lo reduce the prive of the thou sedtuutant goods in the bone market, aud ths to secasion the future production of « smaller quautity, until we should bave ouly 500 lates to send te Cua. ‘To proceed in the esaminstion of Colonel ‘Torreny tions, He says gssump-* Let us naw iller the ciretnastinces of the case, auf nssume that Engl eepeuls the daly apon Cubs prodnec, while Gaba retains the pon British goods. The effect of thie remision of duty upon one hand, und relention on ike other, reqnives tu be carefully said noerately traced TM i Let ns see the amount of care and seeuriay brought Wr the task hoyrheuds, A doul exchange for the suse Ty bules of Brilish goods, sich previous to die repeal of tie British duties were worth, at the immport price, two hogebcads of Cuba pré-