"If they manage it, they will be clever," he said.
"Talking of Lancashire," said Williams, "there are some
funny fellows over there writing in the Press against a
tax on foreign cotton because it's going to ruin Lancashire.
And at this very minute thousands of looms are shut down
in Lancashire because of the high price of cotton produced
by an American combine--and worse coming, sevenpence a
pound I hear they're going to have it, against the
fourpence ha'penny they've got it up to already. That's
the sort of thing they're afraid to discourage by a duty."
"Would a duty discourage it?" asked John Murchison.
"Why not--if they let British-grown cotton in free? They
won't discourage the combine much--that form of enterprise
has got to be tackled where it grows; but the Yankee
isn't the only person in the world that can get to
understand it. What's to prevent preferential conditions
creating British combines, to compete with the American
article, and what's to prevent Lancashire getting cheaper
cotton in consequence? Two combines are better than one
monopoly any day."
"May be so. It would want looking into. We won't see a
duty on cotton though, or wool either for that matter.
The manufacturers would be pleased enough to get it on
the stuff they make, but there would be a fine outcry
against taxing the stuff they use.
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