Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1845-06-19
BALANCE OF TRADE.

mint
vs. ana We Were Consequently compelled 10 pay them
10 me amount OF many hundreds of Thousands If dill.
annually The balance, in SPECIE or its equivalent, r..
commercial and financial emharrassments which cu,,,,
sed The whole country in 1897, were lie dr.c, c,n..
q"ence OF this state things Tor it is as tue Of n,,o
as IL IS Of an ind, idual. tina, if il ccniitne. fl,
OF years, To purchase than it sells impoyerslo...
and bankruptcy must be the inevitable result rh d.
as'rons events Of 1887, indeed would have occurred
much earlier period. had it no, been for the ary, ,
o capital bnnghl into the L. States by the heavy ,.
contracted by the State governr, ns for their ow, ,
poses which retarded he final ca,as,rophe only l.,
der It's effects more violent and destructive lien ram.
just as an individual. whose large estate is was,,n,
way under system Of imprviden management, o..
numbering him with an annually aug,nenng deb, n,v
nevertheless conirvr by borrowing as long as his r,e,,
lasts, to Keep II together, until, failing in tha, resu,e.
II is ally swept away by his crditms. leavinv him
pof''hrd Win obligations that heis unable 10 discharpc
and which weeh upen him like an incubus the ,aI,,..
OF his days unless, like some Of or sov.r, ion State,
'e"cics by an oa, Of insolvency if there be u, b,nL
f"!" IA" IN existence :" GIVE HIM cotnple ard 6u,J
discharge from Item We are aware that other c,nso.
were IN rperann-- such us tie renewal Of The d,,,si
from tie National B Tx and lac dcs,ruetian If L,, n
st'ni"n and lis consefson iih us large capital u,o
SAFE lustilniini, and The r. hrat,d Sfrci, CnuI
al Of wIch contributed 10 facilitate and ss2avae ,hs
financial cr:sistnt the st Io nj e Inc If n,,,h,f
unique s'"na6y, "as The immense orrsn ndtbr,anrss If
the "al"n. InetfHd y imp mag e hnc s.ri,s nf
years more thah II tAhied, and thereby rhabIlnu our
frren creditors II depriyr oruuI spece-w h. han
ptnhg ro'emf"Ianeo1sly with tie txurblan expansion
Of the banking system, uuder the stimulating influenza
# lack II
general Suspension Of sp payments and 10 all the dis
as,ers that followed in lis train.
When the Wings came into power in le4I one Of the
dn'ics to which they were most prominently pledged
vas the rect.fcatlon Of tie wrc,ched policy 10 which
these evils were esonaty ascrable and arc
soeInnly convinced OF the truth OF what We utter,
when we say that the bent fcrn reaction hch has Il,
ken place in the Commercial ard monetary affairs II the
country is ascrlbable exclusively the Tariff law Of
lS42. are ofany proposon which is M, susc,p>
tible VI mathematical deiuorslra ton.
table, compiled from official documents for the Ma
tiona lnelgencer exhibits the drec, eec, Of that ra
rifin revoIuonizng the results If our commercial poll
cy. Instead OF having many millions o dosrs balance
against had been the for many years previous,
y, there has been, since 1912, uniformly baIsrce
our favor Cons qaeny, instead Of being an expot.r
of specie, 10 lqudate debts abroad We have lcen an
importer o the precious eals loIay The bs due from
foreigners to re l.e-snd We have en- enrich
cd to that extent instead OF. ionrriy mro,rr. I'd,
by our commercial operations. According 10 the table
referred to, instead "a the balance Of ilaie being a.
gainst us, IL had bie BEEN was IN our iav,n -
follows:
In 1912, balance in favor of T. sl.7oo.447
In 1913, = - - 1898. iiSL
In 1874, :" " 2,16j 1871
Making grand az reaate If $!,ecS,!59
In this aspect Of The question. therefore. il
us, candid MIND viii orny The advanag.u results
OF the Wing 1arf1. And surely, the party. which,
with the history ot the disasters nj lco1 sil fresh
their recoecton and with the b Inefficient qnencrs f
the change OF policy which has taken place i'll e42 pal.
pable to Their senses, shall again 90 back system
which those disasters are 50 CLEARLY aeraile by lie
bandonneni oi The policy by whrh iley have been
tneyed, will deserve The ilrer rtrroaches of their ooun
Try should similar calanIits beia us from a repetition
of their condemned experiment." We have it IL tn.
heard and read many pathetic homiIes the injustice,
oppressivtness and inequality OF The existing Tariff
and we do not. by any means. claim for il exemption
from defects as In so complex system, made up Of 80
many minute details aud Involving many aud in sone
instances conflicting interests, it would be- miracle It
IL were lice Hom lmpeTlectloIi-but We cuihdently sP'
peal or its triumphant defence against these vague and
intangible assaults, the offspring for the part, Of
ignorance and prejndice, 10 lis triumphant resus-to
the restored credit OF the government whose paper
dshon"red In all The money morkets of the worldfo
treasury redeemed from bankruptcy, in defiance Of tho
declaration OF the pophetsof evil by whom opposed.
that II would diminish revenue then wholly inadequate
10 the wants o The govenmentto the great interests OF
the country rescued fun the universal decline, which,
like paralysis of the human system, had SEEMED al
most n'fl able o niny Coralion but which have BEEN
nsnscialtd and strengthened by the s,imuant which
the prospect OF ample ard always affords industry
to the ''bter eurrenc,' winch has resulted from the
mp" instead Of he export Of The precious metals which
nave BEEN thrown ino tie channel, OF circulation, M
far'ng health and energy to The monetary systrm-to
the 'hTicnent OF the Whole country. by converting The
balance of trade, which formerly against us, in Onr
favor, Thereby bringing twenty five millions of dds
lars INTO the L. States pay for our surplus productions
sent abroad, instead Of requiring send that lar
ger ahonn' 10 oreen countries, 10 ray them for their
surplus tatrrs and for The labor employed in their ran
nfaciure We ask The people Judge the tree by lts
irulls. They have tried and tested the present
merrIal system and lis oppos,eIhey have and ht
The benefits that have resulted um the former and tho
evils ana sasers that were consequent upon the atier
IT, in despite of The lessons ooxIfrence, dearly Pu'-