ABSTRACT
Many people erroneously use the term 'dumping' to describe any form of competition which is inconvenient to some home producer. A more scientific definition which Free Traders may accept is the importation into this country of goods produced in a foreign—including in the term an Empire—country at prices below the cost of production in that country. Dumping from strength is a form of commercial piracy, having for its object the destruction of the business of a competitor by unfairly underselling his produce. A very common instance of dumping from weakness is found in the sale by producers in protected countries to consumers in other countries of goods at uneconomic prices, with the definite object of maintaining unnaturally high prices for the goods in question in the home market. The Japanese have profited by the errors of industrialists in Great Britain and the United States, and owing to the purchase of up-to-date machinery, they are now ahead in many trades.
