ground has Mr. Gladstone for his assertion?
With great confidence, Mr. Gladstone proposes to carry the war for free-trade into the enemy's country.
Perhaps the enemy, who are only modest protectionists, may embarrass the march of his logic with a few pertinent questions, or at least abate the rate of speed which he proposes for his triumphant movement.
I shall not give counter-theories.
I shall only cite established facts, and allow the facts to establish their own theories:
1. John Edgar Thompson, late president of the Pennsylvania Railroad Company, purchased 100 tons of steel rails in 1862 at a price (freight paid to New York; duty of 45 per cent. unpaid) of $103.44 gold coin.
(By way of illustrating Mr. Gladstone's claim to superior quality of manufactures under free-trade, the railroad company states that many of the rails broke during the first winter's trial.) In 1864 English rails had fallen to $88 per ton in New York, the freight paid and the duty unpaid.