The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1858-08-03

Heuschosd and Nasionai Ecen my.
We saw an article in q Railroad journal
the other day, which We thought worthy Of
-disencumbering OF tables Of statistics and
bringing home to the ssbusiness and bosoms"
OF our readers under the above heading.
Thero are two classes OF families dis
tinguished from each other by the mode in
which they manage affairs to SNAKE both
ends meet" One picks up bargains and
runs around buying lots of things they don't
need because they can get them cheap or on
time, and ii costs less than to make them for
themselves, or to make something else that
would answer the purpose. They like to
trade and speaulate-it requires but little
money and no work.
This is free trade applied to domestic
household affairs, and it looks free and
easy.
The other class Of families, imbued with
some OF old Ben. Frsnklin's Poor Richard
maxms, such as, GA penny saved is a penny
earned;" ''He that spends more than his in
come will have no need of purse; !" with no
supicions that they are political economists,
labor and save. They never buy what they
can make themselves, and they make what
they can and sell to other people. And with
the money in their purses obtained for the
labor Of their hands, and the product of
their labor on their backs, or in use about
their premises, they fancy that they are bet
ter of than they would be without money
and in debt for the little traps they have col
lected about them. H
Great Britain teaches other nations free Of
charge thedoctrines upon which the FIRST class
mentioned operate, and she praetises herself
upon the maxims of the latter class. She
tickles the fancy Of other nations by styling
the doctrine which she commends to them
the philosophy of Free Trade, and she dis
gusts them with the doctrines upon which
che practises by setting it forth with no pre-
fix of philosophy but in the homely, simple
phrase Of Home Industry.
Thus, in the matter Of working her own
iron, Great Britain last year converted out
of the ore 1891 1892 tons OF pig iron. AZ
ter thus making and saving an immense sum
by the conversion Of her own ore into pig
iron, she went on still further and manufac-
it into all manner OF bars, castings, hard
ware, machinery, &C., till by her labor she
made it worth STA 100000, for which she
sold it to her American, and other disci
piles Of the Free Trade philosophy
In the mean time we traded or run in debt for
this iron, and in utter contempt of the vul-
gar notions Of home industry, left our own
iron ore in its original beds. And what Eng
land did in iron she did upon great yarie-
ty of raw materials--worked away till she
increased their value ten fold by her labor,
and then sold them to US rich specializing
Free Traders.
Thus under the influence of the delusive
free trade philosopy, We 20 three thousand
miles, pay expenses back and forth, buy good
bargains, run in debt, leave our own resour
ccs pndeveloped, glorify free trade, run
. against "crisis," smash up, look around,
! don't know who struck US, scratch our
/ SQUASH heads, grumble at our luck, swear at
our misfortunes, economist by compulsion
! awhile, cheat our creditors out of what we
4 owe them, and once more enter upon the
/ splendid career Of Free Trade.