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| | Report of the Select Committee on Import Duties (1840) |
 | | These impose upon the consumer a tax equal to the amount of the duties levied upon the foreign article, whilst it also increases the price of all the competing home-produced articles to the same amount as the duty; but that increased price goes, not to the Treasury, but to the protected manufacturer. |
 | | It is obvious that high protective duties check importation, and consequently, are unproductive to the revenue; and experience shows, that the profit to the trader, the benefit to the consumer, and the fiscal interests of the country, are all sacrificed when heavy import duties impede the interchange of commodities with other nations. |
 | | Your Committee further recommend, that as speedily as possible the whole system of differential duties and of all restrictions should be reconsidered, and that a change therein be effected in such a manner that existing interests may suffer as little as possible in the transaction to a more liberal and equitable state of things. |
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