The countries of the world differ in their facilities for producing the comforts and luxuries of life.
The inhabitants of the world agree in wanting or desiring all the comforts and luxuries which the world produces.
These wants and desires can be in no degree gratified but by means of mutual exchanges. They can be fully satisfied only by means of absolutely universal and free exchanges.
By universal and free exchange,--that is, by each person being permitted to exchange what he wants least for what he wants most,--an absolutely perfect system of economy of resources is established; the whole world being included in the arrangement.
The present want of agreement in the whole world to adopt this system does not invalidate its principle when applied to a single nation. It must ever be the interest of a nation to exchange what it wants little at home for what it wants more from abroad. If denied what it wants most, it will be wise to take what is next best; and so on, as long as anything is left which is produced better abroad than at home.
In the above case, the blame of the deprivation rests with the prohibiting power; but the suffering affects both the trading nations,--the one being prevented getting what it wants most--the other being prevented parting with what it wants least.
As the general interest of each nation requires that there should be perfect liberty in the exchange of commodities, any restriction on such liberty, for the sake of benefiting any particular class or classes, is a sacrifice of a larger interest to a smaller,--that is, a sin in government.
This sin is committed when,--
First,--Any protection is granted powerful enough to tempt to evasion, producing disloyalty, fraud, and jealousy: when,
Secondly,--Capital is unproductively consumed in the maintenance of an apparatus of restriction: when,