den Club may be able to overcome the new policy of the government?" "I hardly think so. Protection sentiment has been growing there for many years. Economists and statesmen and newspapers have become more willing than for years to consider how new situations affect revenues and industries. The closing of one home industry after another, the sacrifice of agriculture to manufactures and commerce, the protective policy of other countries and of all the British colonies, and now the greatly increased demand for revenue, have been forcing conviction that the policy which may have been good in Cobden's time no longer promotes the national interest. The Cobden Club's brotest will force a reconsideration of the whole argument and once the government goes before the people with a protective policy, thus making sure that it will be fairly and fully considered, I expect to see the fetich of free trade banished to Westminster Abbey, the national lumber room for distinguished shades." 000 in gold. In eleven months the 15 per cent duties will expire. No estimate is made of the possibilities of the increased productions within the next year or two. Practically it is limitless, dependent in volume only upon the installation of modern machinery and improved agricultural methods. The total imports of sugar from Porto Rico since the Foraker Porto Rican act took effect in February last amounted to 89,000,000 pounds, in round numbers, valued at $3,347,590. Most of the sugar was made under adverse circumstances which will not hamper the future production of the island. All of this means that another great battle for the protection of the American beet sugar industry of the United States will have to be begun with the assembling of the next Congress. The investments in Porto Rican sugar lands and factories, large as they promise to be, are only a bagatelle compared with the existing possibilities for sugar raising in Cuba. Furthermore, while in Porto Rico the profits will be made mainly by Americans, in Cuba foreign capital will absorb the dividends wrung from the plantations at the expense of the American beet grower and manufacturer. Governor Allen has called attention to a situation the gravity of which is realized thoroughly by the American protectionists. Those whose watchfulness in the first session of the last Congress caused the imposition of the 15 per cent tariff are awake to the situation, and will make themselves heard at the opening of Congress. |