that the price itself, considering that alone, expresses a relation
between each special industry and the general industry, between the
supply and the demand, and that, reasoning from these premises, this
_remunerative price_ (the object of protection) is more hindered than
favored by it.

APPENDIX.

We published an article entitled _Dearness-Cheapness_, which gained for
us the two following letters. We publish them, with the answers:

"DEAR MR. EDITOR:--You upset all my ideas. I preached in favor of
free trade, and found it very convenient to put prominently forward
the idea of _cheapness_. I went everywhere, saying, "With free trade,
bread, meat, woolens, linen, iron and coal will fall in price." This
displeased those who sold, but delighted those who bought. Now, you
raise a doubt as to whether _cheapness_ is the result of free trade.
But if not, of what use is it? What will the people gain, if foreign
competition, which may interfere with them in their sales, does not
favor them in their purchases?"

MY DEAR FREE TRADER:--Allow us to say that you have but half read the
article which provoked your letter. We said that free trade acted
precisely like roads, canals and railways, like everything which
facilitates communications, and like everything which destroys
obstacles. Its first tendency is to increase the quantity of the article
which is relieved from duties, and consequently to lower its price. But
by increasing, at the same time, the quantity of all the things for
which this article is exchanged, it increases the _demand_, and
consequently the price rises. You ask us what the people will gain.
Suppose they have a balance with certain scales, in each one of which
they have for their use a certain quantity of the articles which you
have enumerated. If a little grain is put in one scale it will gradually
sink, but if an equal quantity of cloth, iron and coal is added in the
others, the equilibrium will be maintained. Looking at the beam above,
there will be no change. Looking at the people, we shall see them better
fed, clothed and warmed.

"DEAR MR. EDITOR:--I am a cloth manufacturer, and a protectionist. I
confess that your article on _dearness_ and _cheapness_ has led me to
reflect. It has something specious about it, and if well proven,
would work my conversion."

MY DEAR PROTECTIONIST:--We say that the end and aim of your restrictive
measures is a wrongful one--