The Depression of Trade, Its Causes and Its Remedies (Classic Reprint) - Tapa blanda

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Excerpt from The Depression of Trade, Its Causes and Its Remedies

For about half a century past both our Government and our mercantile classes have acknowledged the importance of political economy, or the science of the production of wealth; and they have made it their guide in trade, in manufacture, in foreign commerce, and in legislation. During the same period we have had such advantages that perhaps no nation in the world's history ever enjoyed before. It is during that time that steam has been applied to railways; during that time the great gold discoveries which added so much to our wealth, and gave such an enormous impetus to our trade, took place. We especially profited by these things, because we had as it were the start of other nations in possessing enormous stores of coal and iron, in the working of which we were pre-eminent. While the railway system was being developed all over the world, it was we who, to a large extent, supplied the coal and iron, and also the skill and labour, used in making these railways. During this same period, too, our colonies have increased with phenomenal rapidity, and have supplied us with customers for the commodities which we produced, and they also afforded a magnificent outlet for our surplus population.

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