Every dollar of tax imposed on our exchanges in the shape…
“Every dollar of tax imposed on our exchanges in the shape of duties impairs, to that extent, our capacity to meet the severe competition to which we are exposed; and nothing but a system of high protective duties, long continued, can prevent us from meeting it successfully. It is that which we have to fear.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
High protective duties reduce competitiveness and increase fear of competition; only sustained high tariffs can counteract this pressure.
In simple terms: High tariffs hurt competition and create fear; only strong tariffs help.
Key Takeaway
Balance protection with market openness.
Themes
economics
trade
protectionism
Mood
cautious
analytical
Type
political
economic
When to use this quote
- government policy
- business planning
- international negotiations
Key Concepts
tariff policy
comparative advantage
industrial strategy
Questions to Reflect On
- Should tariffs be used to protect strategic industries?
- How can a nation stay competitive without excessive duties?
A Different Perspective
High duties may provoke retaliation and hurt consumers.