The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1871-04-01

vol. XLIF RICHMOND, WAYNE COUNTY, APR.
From the Washington Chronicle.
Some Of the Beauties Of Free Trade
Answer to Mr.. Mill.

ask a ehort space for q reply
10 a letter Of j. s. Mill on free
trade, which appeared in the Com
of the 18th inst. Mr.. Mill
has high reputation rs the author
Of a great work on political econo-
my, which has been made q great
textbook in many of our colleges,
that our young Americana, some
Of whom may become statesmen,
may be duly instructed in theories
favorable to European interests
He has also written work on log
ic, which, by the way. was sadly
needed, and this has added greatly :
to his reputation, to cay nothing Of
his able efforts in behalf Of woman
suffrage and other kindred pro-
gressive topics. He is, therefore,
generally considered as authority,
and his statements and assump-
tions often pass for law with those
those who do not think for them
selves; and as his positions are
often untenable and fallacious,
they are calculated to do great mis-.
chief.
This letter is very adroit thing,
calculated to mislead us Ameri-
cans, and not 80 much by what it
contains 40 by what it omits. 1t
makes no mention of the necessity
in nearly all countries of duties on
foreign goods for purpose Of reve-
nue., nor of the absolute necessity
of duties on imports as the only
means of protecting coin from be-
ing drained abroad, by which a
good monetary system becomes
impossible. There is great adroit-
ness in these omissions of Mr.. Mill.
II the views of these European
Free Traders shall be adopted in
this country, we shall soon be IS
effectually drained of coin as were
the American Colonies before tho
Revolution, and when the people
were compelled to form societies
ali over the country pledging the
members to total abstinence from
English goods as the only means
of saving any coin in the Colonies.
We produce gold and England
produces none, and it is a part Of
her policy to get our gold, Sub
ROSA, and English Free Trade wri-
ters and their coadjutors in this
country glide over this subject with
great ingenuity. Then their theo-
ries in regard to the movements OF
the precious metals are oil, or
nearly all, fallacious, and are SO
devised apparently as to lead US Of
the Western hemisphere to part
with them.
We are even taught that to re-
tain them will result in great harm
to US. They even lay down as .
general principle that . "nation
producing the precious matals, in
order to derive any advantage from
them, should export them 10 other
countries" and they do not so
much rs make . proviso that
enough should be retained for pur
poses Of currency. Besides, they
teach that "gold, like water, finds
its level, and goes where it is wan
4 ted by laws of trade, which are be-
|. y0nd human CONTROL"
While it may be admitted thai
gold, like Sprague s prints, Otter
> goes where it is wanted, the trutl
is that gold, unlike most othe
= commodities, has often a tendenc,
Z to 60 where it is not wanted; u:
when it leaves California. piles it.
!. self into the Bank OF England
: where it is often worth but two pc
. cent. a year. 1t goes from neccs
sity to pay balances, and can e.
- in no other way. Most of thes
d writer's on tariff and finance hav
got to learn that there is but OF
feasible method by which a natioI
y or an individual can obtain gold
and that is to buy it. England hs
something to do it with, so lon
'e a. she can dissuade US from mar
'r ufacturing.
One great object England has i
q. draining US of our precious meta!
lv has not been sufficiently consider
ed. 1t is to derive US Of the mean
for manufacturing. She wishes t
. be able to point US constantly t
- the fact that We have not the cap
" tai to justify us in engaging /
manufactures. It is the same gam
rs practiccd by most Of our Easter
to millionaire manufactures towar
to South and West. They adol
measures to secure perpetually
!. stringent money market, and tht
- keep us 50 poor that we may NJ
=. engage in manufactures in compe
20 tition with them.
. 1t may be remembered that
r short time before that old joke
the Hon. Revcrly johnson, lie
n, London as British Minister, in
he speech to some Londoners, he sal
BY &c Cllifornia has, curing the last
years. produced 1900 millions I
;, dollars in gold, most Of which b:
:. found its way here into the Bar
;' :, Of England a laugh to be use
- for the benefit of the commerci
world" This, laugh and all, ".
IN flashed over the Atlantic cable
ks The English laughed because the
y, had right to laugh, and the laue
ay came in at the right place. Th,
knew that they had obtained th
H. gold by their shrewdness and O
lly stupidity. ~
IT. They had secured It by arts th
its they had been practicing upon
and the rest Of the world for ce,
:, turies. They had simply beug
y it by their manufactur es-by the