Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1859-08-27

| ooO,'oo VI diiiiiAii pIouuClS, ana SSSZ,UUU,-
900 vegetable food, while the whole export
OF these two staples from 1913 to 1850 was
was only S242, ,564 ,O62, or an average OF
$3O,32O, ,5OS, the two years first named av-
craSng $50, 3,OOO,O 900 each. This unexampled
foreign demand for homegrown food brought
an importation of gold such as we had never
seen, and Its possession made us prosperous.
Flour, grain, pork, tobacco, and every thing we
mad to sell, went up to price that made the
farmers rich. There was moreover, a success
sion of agriculture. In 1910 our crops OF
wheat, rye, barley, corn and oats were esti-
mated at Glo,522,O 900 bushels, while in 1874 7
they had swollen to S67, $4,000, or an in
crease of 252, ,3O4 900 bushels. On the heels
OF this great prosperity, came the discovery
OF gold in California, and five years thereafter
that region had added 100000, 900 to the
coin of the world. This discovery imme-
diately produced demand for labor such as
the world had never before witnessed, and
all kinds of business fourished.
1t is therefore gold which gives to nations
and to individuals the great impulse to pros
perity. If these results were assured to us
while gold was flowing into the country, what
is to be the consequence when all the gold is
flowing out? If the former produced pros
porous trade, the latter must produce disas-
trous one. Since the influx of lS4S, the gold
has been steadily leaving us, in payment for
the vast amount of our imports 1t has been
going out the present year at a rate never be-
fore equalled, while foreign goods arc poured
in upon US in like proportion.
Foreign fabrics worth millions are landed
here weekly - the countries whence they
come are gorged with stocks and bonds of
our worthless railrOads-which so little want
to increase their investments that those they
hold would be returned on us for sale if any
parties here were green enough to purchase
them-and so no more can be used as remit
tances; our grain and flour are greater
drug abroad than here, thus leaving the great
gap between what we take and what we give
to be filled by the coin which we ship. The
lile-blood of the whole business fabric, of
banks and trade, of Eastern thrift and West
ern enterprise, is running out at every pore.
How long these interests can support the
drain remains to be proved. Already the
banks have snuifed danger ahead, and shut
down their gates. Money may be quoted at
five per cent. on call, but there are daily
struggles to procure it on good security at
two per cent. a II onth for all the suterings
of the great army of borrowers do not meet
the public eye. If such causes produce such
etfectS-if the drain &C spe.e alarms one
class while it c,nbatraSSes all others-and IL
no hand be raised IN the quarter to remedy
the evil, a new explosion would seem to be
somewhere in the distance
Cotton, be it said with Difference, is good
thing; but it has never yet saved this coun-
try, nor VIII 1T ever perform that interesting
operation On the contrary, there are honest
E,ll-
ais, a great national curse. Cotton may call
in specie to its aid, and the twain combined
will not enable us to import $4,000 GOO Of
foreign goods without breaking. We must
fall back ON breadstuffs, not only in the grain
but manufactured into flour and pork. But
what portion Of Europe is now in want of
more than its own crops? and where are our
farmers to find remunerative market?
Not at home, because we have shut up the
mines and furnaces and factories which made
a market fer our food, and prefer buying it
from abroad in the shape of fabrics and wares
which once made those establishments so ma
ny hives of industrious consumers. While
closing them up, we nave stopped the build
ing of others. Everything VIC eat, drink and
wear is the product of foreign labor. When
Britain held us In colonial bondage, it forbade
us to manufacture hob-nail or a hat. 1t en-
| forces the same dominion now, and in doing
so receives aid and comfort from our own peo-
| pie. For years past, the growers of wheat
| have aided the growers of cotton in establish
ing single foreign market, to the destruction
of hundred at home. The farmers in many
States borne down by load of debt, now find
themselves face to face with the monster OF
Free Trade. Verify they have their reward.
Debt was comfortable with wheat at $3.50,
but it is utter ruin with wheat at 60 cents
Old debts cannot be paid, new ones cannot
be contracted, homesteads must be given up,
and debt and family become outlawed togeth-
er.
The policy of the farming interests has
been to destroy the manufacturing interest
1t was promised all Europe for market, but
in grasping after the shadow there, it has lost
the substance at home. This is no new oper-
alton. Flour fell SO per cent in 1918, because
the peace had deluged US with foreign goods,
and wheat in Ohio sunk to 20 cents bushel.
The glut and the fall are contemporaneous
now. The same policy forces us to consume
foreign cloth and iron, tho knowing that they
represent SO much foreign food, and deprives
US Of a market for our own. 1t persists in
keeping the consumer and producer apart, in
stead of bringing them together, and in place
OF building up thousand markets at home,
Is studying to have but single one in Eu-
rope; This solitary dependence is now cut
OH, the peace proving as fallacious as the war,
Whie speculation quits the field, disheartened
oy lts losses. Gold instead of wheat is called
iCr TO ADJUST our huge Commercial balances
the National Treasury staggers ON only by
staving Oft its debts feeling of desponden-
cy Is rapidly extending, and each one must
answer for himself the significant question
What next?