it must be driven from the market by French iron,
which we have supposed to cost twelve francs. In this case the buyer,
the consumer, will have paid all the expenses of the protection given.

The second means would be to lay upon the public a tax of five francs,
and to give it as a premium to the iron manufacturer. The effect would
in either case be equally a protective measure. Foreign iron would,
according to both systems, be alike excluded; for our iron manufacturer
could sell at seven francs, what, with the five francs premium, would
thus bring him in twelve. While the price of sale being seven francs,
foreign iron could not obtain a market at eight.

In these two systems the principle is the same; the effect is the same.
There is but this single difference; in the first case the expense of
protection is paid by a part, in the second by the whole of the
community.

I frankly confess my preference for the second system, which I regard as
more just, more economical and more legal. More just, because, if
society wishes to give bounties to some of its members, the whole
community ought to contribute; more economical, because it would banish
many difficulties, and save the expenses of collection; more legal,
lastly, because the public would see clearly into the operation, and
know what was required of it.

But if the protective system had taken this form, would it not have been
laughable enough to hear it said, "We pay heavy taxes for the army, the
navy, the judiciary, the public works, the schools, the public debt,
etc. These amount to more than a thousand million. It would therefore be
desirable that the State should take another thousand million, to
relieve the poor iron manufacturers; or the suffering stockholders of
coal mines; or those unfortunate lumber dealers, or the useful
codfishery."

This, it must be perceived, by an attentive investigation, is the result
of the Sophism in question. In vain, gentlemen, are all your efforts;
you cannot _give money_ to one without taking it from another. If you
are absolutely determined to exhaust the funds of the taxable community,
well; but, at least, do not mock them; do not tell them, "We take from
you again, in order to compensate you for what we have already taken."

It would be a too tedious undertaking to endeavor to point out all the
fallacies of this Sophism. I will therefore limit myself to the
consideration of it in three points.

You argue that France is o