Free Trade
the term applied to national commerce when relieved from such interference as is intended to improve or otherwise influence it; that is, unrestricted by laws or tariffs, and not unduly stimulated by bounties. In all countries it was long held to be of importance to encourage native production and manufactures by excluding from their own markets, and from the colonial markets over which they had control, the competing produce and manufactures of other countries. On this theory the great body of British commercial legislation was founded till 1846, when the policy of free trade was introduced in grain, grain, and afterward gradually extended by the repeal of the navigation laws in 1849 and other great measures, till nearly all British commercial legislation had been brought into conforming with it. Free trade can hardly yet be said to have been adopted as a principle of commercial policy by any nation except Great Britain. As an economic principle, free trade is the direct opposite to the principle or system of protection, which maintains that a State can reach a high degree of material prosperity only by protecting its domestic industries from the competition of all similar foreign industries. To effect this, countries either prohibit the importation of foreign goods by direct legislation, or impose such duties as shall, by enhancing the price, check the introduction of check the int introduction of foreign goods. The advocates of what is called fair trade in Great Britain profess a preference for universal or even common free trade, but seeing that Great Britain is almost the sole free trade country in the world, they declare that a policy of reciprocity is required for the protection of British traders and manufacturers. See PROTECTION.
FREIBERG (frībairg), a mining town of Saxony, 19 miles from Dresden.
It is the capital of the mining district of Saxony, and contains a mining academy founded in 1765, with 13 professors, fine scientific collections, among which is the celebrated collection of precious stones amassed by Werner, and a large library. There is a fine relic called the Golden Portal belonging to the ancient Church, which stood on the site of the Gothic cathedral. The town owes its its origin to the discovery of silver mines.
It is said to have about 150 mines of silver, copper, lead, and cobalt in its vicinity; but their product has fallen off. The manufactures are chiefly metal ware, feather goods, pigments, etc.
Here, on Oct. 29, 1762, Prince Henry of Prussia defeated the allied Austrian and Saxon army. Pop. about 36,000.
FREIGHT