Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1865-06-02
OUR DEBT-FREE TRADE.

4
millions of dollars, bearing an average in
terest of six per cent. per annum, and the
ordinary expenses of our government to be
one hundred and twenty millions Of dollars
per annum; we will have to provide three
hundred millions year by duties or foreign
imports and internal taxes. The Philadel-
phia North american illustrates the diff
culties which attend the collection Of so
much revenue, and the fallacy of the free
trade theory in this manner:
'STo raise $500, 900 900 a year by duties
on imports, at an average rate of duty Of
so per cent, would require the importation
of one thousand millions per annum To
state the question in this form is to give it
this emphatic answer: We cannot pay the
thirteen hundred millians year for the
privilege of dealing with foreigners The
importation of articles that we cannot raise
or make ourselves to the extent of two hun
dred, and possibly three hundred millions a
year, we can bear; and such sum will be
sufficient TO give proper energy to our mer-
camille marine, and to knit us in peaceful
intercourse with other nations. "
This amount viii be paid, too, by the ex.
port and sale of our surplus products of agri-
culture and mining, and in this way viii be
of importance in the adjustment of our ma
tioual economy But we must not permit
ourselves to 90 beyond this wholesome limit
by needing the sophistries of the free trade
men of England and France. Their free
trade will not suit us. 1t is well enough for
them to admit our grain and -four and In
dian corn and cotton free of duty, because
they cannot do without them or raise enough
of them fortheir own purposes; and to pro-
tess a willingness to admit our textile and
metallic fabrics free, because they can pro-
duce them at home as cheap, or 3 little
cheaper than we can, aided as they are
by overhowing capital and abundant labor
ers.
But while they were in the same stage of
national existence that we now are, they
were ardent protectionists, nay, strict pro-
hibition men, and by perseverance in such
policy for centuries they have earned the
power they now WELD. They exercise this
power mainly by sticking close to the prin-
ciple that gold is the only standard of value,
and that everybody shall pay them in gold;
but at the same time they encourage every
body to put themselves in their power by
contracting debts in paper issues, in order
that what they sell may bring paper prices
and be paid for in gold.
This enables them to hold all our banks,
bankers and currency in subjection to the
money power of London and Paris, and by
this unhealthy dependence on them, they
make or break us at their pleasure. Hence
the present concern Of the London Times
and other English and French journals that
we shall speedily resume specie payments,
and that Mr.. McCulloch will shape the
movements of the Treasury of the United
States so as to put our agriculture, com
merce and manufactures in their keeping
The people of this country should on this
point take lesson out of not very ancient
English history, and profit by it. They
should recollect that specie payments were
suspended in England in 1877, and not re-
sumed until 1925, although the great Euro
pean war closed in 1915. 1t took England
ten years to set her house in order after a
great war. and it certainly win not take us
less to close the accounts of our war for the
suppression ola gigantic rebellion and the
preservation of the national life. - Pittsburgh
/ Chronicle