Page:Some Aspects of the Tariff Question.djvu/15

The imposition of a duty does not necessarily raise the price of the dutiable article, 3. — Three cases: first, a duty quite without effect, 4. — Second, where the continuance of imports shows the duty to have full effect, 4. — Qualifications as regards the significance of continued imports: monopoly, 5; semi-monopoly, 6; conditions of transition, 7. — Domestic goods also raised in price, 9. — Third, a duty prohibitory, and not serving to raise price by its full amount, 10. — This case common for manufactured goods, 11. — The situation with raw products, 11. — Further cautions needed in drawing inferences from the continuation of imports, 12. — The effect of a duty on a commodity produced abroad under diminishing returns, 14.

The doctrine as stated by J. S. Mill, 18. — The modern form of statement: prices are ultimately lowered, 19. — A fall in domestic price in itself proves nothing, 19. — Is the doctrine applicable to a young country only? 20. — Industries quite new, 22. — Length of time to be allowed, 23. — Opposition invariably made to eventual repeal of duties, 23. — Difficulty of interpreting results when duties are retained indefinitely, 24. — Sporadic heavy importation feared, 26. — Is protection likely to cause progress or stagnation? 28.

The principle stated, 30. — High wages are the result of high product, 31. — Once established, they appear to be an obstacle, 32. — Commodity wages, 32. — Money wages, 33. — Money wages and prices, 34. — Prices of domestic goods, 35. — Exported goods, 36. — Causes of comparative effectiveness: natural resources, 38. — Invention, ingenuity, industrial leadership, 39. — How the principle is related to the use of machinery in the United States, 40. — Do high wages cause resort to machinery? 41. — The business leader, 42. — Scientific management,