text_original: A wholeheaited Reform theoretical free trader, he was convinced that " national prosperity would be most effectually promoted by an unrestrained competi  tion not only between the capital and the industry of different classes in the same country, but also by extending that competi  tion as much as possible to all other countries ".^ But he pro  ceeded cautiously.
text_transcription: A WHOLE HEARTED THEORETICAL FREE TRADER HE WAS CONVINCED THAT NATIONAL PROSPERITY WOULD BE MOST EFFECTUALLY PROMOTED BY AN UNRESTRAINED COMPETITION NOT ONLY BETWEEN THE CAPITAL AND THE INDUSTRY OF DIFFERENT CLASSES IN THE SAME COUNTRY BUT ALSO BY EXTENDING THAT COMPETITION AS MUCH AS POSSIBLE TO ALL OTHER COUNTRIES BUT HE PROCEEDED CAUTIOUSLY
phonemes: ɐ hˈoʊlhiːˌɪɾᵻd ɹᵻfˈɔːɹm θiəɹˈɛɾɪkəl fɹˈiː tɹˈeɪdɚ, hiː wʌz kənvˈɪnst ðˈæt " nˈæʃənəl pɹəspˈɛɹᵻɾi wʊd biː mˈoʊst ɪfˈɛktʃuːəli pɹəmˈoʊɾᵻd baɪ ɐn ˌʌnɹᵻstɹˈeɪnd kəmpˈɛɾi tɪˈɑːn nˌɑːt ˈoʊnli bᵻtwˌiːn ðə kˈæpɪɾəl ænd ðɪ ˈɪndʌstɹi ʌv dˈɪfɹənt klˈæsᵻz ɪnðə sˈeɪm kˈʌntɹi, bˌʌt ˈɔːlsoʊ baɪ ɛkstˈɛndɪŋ ðæt kəmpˈɛɾi tɪˈɑːn æz mˈʌtʃ æz pˈɑːsᵻbəl tʊ ˈɔːl ˈʌðɚ kˈʌntɹiz ".bˌʌt hiː pɹˈoʊ sˈiːdᵻd kˈɔːʃəsli.