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THE NEW PROTECTIONISM

to short-sighted Tariff "Reformers," whose instrument would be always lagging behind the real need of the nation: "Who can say what, when war is next waged by mankind, will be the 'key-industry'? Peradventure some delicate alloy of steel involving the use of a rare metal. Shall we 'protect' (heaven save the mark!) all rare metal industries, lest one of them should be found the way to the dominion of the air, as may easily be the case?"[1]

Would not it be safer to set about improving our processes of education, so that we may have at least an equal chance with Germany, or any other nation, in discovering and developing new "key-industries"?

  1. ↑ "Trade after the War," April, 1916.
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