New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-07-14
mr.. WELLS RECEIVES FAINT PRAISE FROM
THE LONDON TINES.

London Times, JUDY !.
Mr. David Wells, who had been hailed in
advance by Mr. Miner Gibson on Saturday as the leader
of the Free TSss party IN the United states made bs
cited illustrating the advantage Of adhering TO eie
audience MI. Wells endeavorod to prove that the
United states had tried the experiment OF restriction
Tous to every interest Of the country We are not dis
posed 70 question the accuracy of conclusion which
tain was II to follow the policy commenced
On the Morrill, Tariffs aud contaminated dur
cranky say that we have great difcSty in
receiving all the arguments and illustrations used by
Mr.. Wells 10 prove his thesis 1t must be remembered
IN justice 20 him. that though he did not stint his de-
z,yery he Obliged abbrevlate many OF his refer
ences TO statistical conclusions which might appear
more convincing when fully stated No arguments
require such delcacy and discrimination IN handling
arguments based the Of statistics. The effects
see and enumsrate are due to many causes and i Is
must be attributed TO each OF them. The years of
strict protection in the United States include the crisis
and agony or the war; and have been years OF continued
production large, II decreasing, scale in the gold
felds OF Australia and California This circumstance
alone is sufficient to account for decline in the
purchasing power OF the dollar in America. and, in
der TO discover what portion Of this decline due to the
United States must deduct from the whole that pOr
o other Countries we nav nttribne TO The nereased
supply Of gold. This might perhaps be done with
relative change in the value Of dollar the States and
OF sovereign in Australia, but many different cOmbina
lions must be made and the question studied from many
different points Of view, before conclusions be
when the peculiar variation Of the United States
mad been ascertained, there would still remain the
difficulty OF separating the effect Of the war the
effect Of Protectonst legislation SO, again, with the
reduced Of increase OF production the United
States Putting aside the grave doubts which have
been expressed tho accuracy OF the statistics
collected by the Bureau at Washington at
that reduced rate Of increase of production is
necessarily inconsistent with real Increase in pros
perity The population of the United States goes
Increasing, and the absolute annual increase may
Zoe greater every year. and yet the relative increase
m the same way the relative increase in pro-
ductiOn may be less, and the absolute increase
greater aud in order to determine whether country
Is advancing recedinR, must at least compare the
progress It's population with the progress Of its indus
try. Other points in the argument OF Mr. Wells might
be indicated requiring TO be strengthened but 1t is
needless and. indeed, 10 multiply them would give
wrong impression OF speech with the conclusions OF
which we thoroughly agree ali wish TO insist upon
that II public opinion in the United States is TO be
converted by force OF TO the adoption OF free
trade be addressed with rigorous logic and with
illustrations freed from every disturbing and doubtful
ella