The Voice of Free Trade and Changing Character

2020-04-27 15:01:00

Free Traders

2020-04-27 15:34:17

Inc middle class, demand raised by bankers, traders of London
Abolition of high tariffs, state monopolies, Adam Smith Wealth of Nations
Lean efficient state machinery would run on rational principles ensure smooth functioning of private enterprise - Benthamite utilitarianism provided philosophical justification for this

Free market for rapid industrial dev
Legal protection to contracts, property, private enterprise rather than supporting Business groups
Laws also used to subjugate labour
Through abolition of price and wage controls, state supported monopolies, subsidies, restriction on Business
Demanded unification of internal market, tariff reforms
New Poor Law 1834 - role in estd free labour market making conditions for local welfare very strict, Currency and Banking Reforms 1797, Company law of 1844