In all channels of trade where steam could be employed she paid lavish subsidies, and literally destroyed fair competition, and created for herself a practical monopoly in the building of iron steamers, and a superior share in the ocean traffic of the world.
James Blaine: “In all channels of trade where steam could be employed she paid lavish subsidies, and literally destroyed fair…”
Editor's note · Context
Blaine argues that England's subsidies created unfair competition and a monopoly in the steamship industry.
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