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Whether the Paris Pact is practical or visionary, no matter if England is free trade or protectionist, regardless of Germany's ability to find herself industrially at once, one thing we do know the end of the war will find the Empire of World Trade molten and in the remaking. Fresh paths must be shaped; the race will be to the best-prepared.

Such was the bitter cry of the outcast Protectionist, and similar vapourings arose in cliques and clubs all over the land.

If the Americans continue to maintain Protectionist duties on our manufactures, our line of conduct is not to offer to pay them indirectly to relax those duties, but to say, "You are losing more by your duties than we are; the proof of the pudding is in the eating."

Owing to the very strong protectionist feeling on the part of the French manufacturers, great difficulties were encountered; but, after the deputation had made two visits to Paris, they were finally overcome.

The simple truth is, of course, that no man knows what "Germany" will do ten years hence, any more than we can know what "England" will do. We don't even know what England will be, whether Unionist or Liberal or Labour, Socialist, Free Trade or Protectionist. All these things, like the question of Peace and War depends upon all sorts of tendencies, drifts and developments.

The British Ministry had neglected to obtain any written assurance that trade relations should be resumed between the two countries; and the First Consul, either prompted by the protectionist theories of the Jacobins, or because he wished to exert pressure upon England in order to extort further concessions, determined to restrict trade with us to the smallest possible dimensions.

And in order that those who would refuse to be bound by these dishonouring conditions may be smelt out and excluded from the House of Commons, a secret society of nameless but probably interested busybodies is hard at work in all the dirtiest sewers of political intrigue. But, after all, these methods are an inseparable part of the process of carrying a protectionist tariff.

A butcher who is always willing to part with his meat but not willing to take bread from the baker, or boots from the bootmaker, or clothes from the tailor, would soon find himself in a sorry plight. Yet he would be no more foolish than the protectionist who desires that we should send goods abroad without receiving payment in the shape of goods imported from abroad.

Town and village rang with execration and satire, with howls of rage or satisfied revenge vented by German against German. The Roman Catholic shook his clinched fist at the Protestant, the liberal at the conservative, the protectionist at the free-trader, the partisan of absolute government at the defender of the people's rights.

C. Bruce, who, being a member of Parliament and a strong Protectionist, had a double interest in the matter: You ask me about this mare's nest of Bentinck. The facts are these: the Montreal Board of Trade drew up a memorial for the House of Commons against the Navigation Laws, containing inter alia a very distinct threat of separation in the event of their non-repeal.