5. An Englishman gave this argument for protection: "If an Englishman buys a frying pan from a German for a shilling (24 cents), then England gets the frying pan and Germany gets the shilling, whereas if an Englishman buys the frying pan from an English manufacturer for 13 pence (26 cents), England gets both the frying pan and the 13 pence. The increase in price benefits England because the money remains within the country, instead of going abroad to increase the wealth of foreign nations." Give your opinion of this argument.
6. Discuss this statement: "The American people send abroad over $100,000,000 a year to pay for imported sugar. To meet this bill requires the wheat crop of over 7,100,000 acres. But all the sugar now imported could be grown on 1,700,000 acres in beets or cane. In other words we are throwing away the product of approximately 5,400,000 acres of land by not growing our own sugar."
7. A New York daily has contended that "Of course, we should be the gainers if every pound of it (raw cotton) were exported in manufactured form. Every process through which the raw material passes in its conversion into fabrics would mean employment for American wage-earners."
Discuss the proposition that the aggregate for the labor of American wage-earners is less if we export raw cotton than if we should manufacture the raw cotton in this country for export.
8. Assuming that an import duty on tea, if sufficiently high, would create a tea growing industry in the United States capable of supplying the whole domestic demand, trace the various economic effects of such a duty.
9. Who gained when Hawaiian sugar (before annexation) was admitted free of duty, while other sugar was taxed?
10. If the owners of marble quarries can show that their net income is 30 per cent. greater by reason of the protective tariff upon foreign marbles, does this show that the tariff increases the wealth of the protecting country?
11. State any proposition which you think that you can maintain about the relation between high or low wages and international competition. Maintain your proposition.
12. What do you say to the plan of so adjusting duties on imports as to equalize the "labor cost" of imported and domestic commodities, through the levy of duties which will just offset the higher wages paid by the American employer?
13. Is a high rate of money wages an obstacle to the successful conduct of industry in competition with countries where money wages are low?