Savannah morning news. [volume] (Savannah) 1868-1887, 1882-05-12


Radical organs and stump orators IN
the last campaign rang the changes on
the wisdom Of the resumption act and
the share Republican legislation had in
bringing about the return Of prosperity.
The resumption act was aconcomitant Of
our returning prosperity, but its founda-
tons were laid in the labors OF
the men who grew grain and cotton.
The export Of these staples brought the
balance OF trade in our favor and kept It
so for 8 series Of seasons. Now q refu-
tation of the claims made for Redical
legislation is approaching in the shape OF
a steady change in the balance OF trade.
The current year, so far as it has
gone, has presented bad outlook for
trade. Our exports have declined and
our imports increased, until gold is be
ing shipped in increasing quantities to
settle trade balances In the FIVE months
and one week Of the current year we
have exported about 81, 500 600 Of gold,
where vein 1881 imported SOC, 574. 241-
a change against US Of over $38, 600, 900.
If this disparity should continue for the
whole year, the difference in gold bal
auce would be about 800. 0O0,0 900. This
would not mean that 50 much gold
would 90 out Of the country. but that as
between the imports of gold in 1881
and the exports in 1882 the diff
ference would be as stated. And
all this reflects the changed cur
rents Of trade. We are exporting
less and importing more than for g
few years past. This is what is begin
ming to affect very decidedly our gold
balances. The report for7March, just
made public, illustrates this point The
adverse change is over $50 100000 in
this one month"; decline Of s22. 1912
in exports, and an increase Of s., SSS,57s
in imports; or, take nine months OF the
fiscal year and they show an excess OF
exports over imports Of $65. 010, 245, as
against 1894, $40, 790-a loss in the past
nine months, as compared with the same
months in 1881, of $169. $50. 545. And
this loss is largely in exports. The in
crease Of imports has not relatively been
50 large as the decrease of exports.
One cause OF this is to be found in the
large supply Of grain furnished England
from India and Black Sea ports. An
other explanation is found in the grain
corners in this country, which force
steamers in our Atlantic ports to go
begging for cargoes. The outlook, while
not discoursgIng, is by no means as
cheerful as it might be. Should
the balance grow large against
Us and the margin con-
tinue to increase, some pretty close sail
ing would be in order. High protection
ist organs looking at the matter call out
to widen the home market. They thus
confess the weakness of their position.
We are becoming indebted to foreigners
despite the high tariff already imposed,
and more protection is demanded
Our ''infant" American industries
should be lusty enough after their long
regime Of pap to reach out from the
paternal roof. Yet, how small a
part of our manufactures 60 abroad2
What efforts have been or will be
made other than in the shape Of
subsidized steamship lines to ex-
tend our foreign trade? As a matter
of fact we have no foreign commerce, in
the proper sense Of the term. We are
able, if we are wise, to lead the world in
the three great branches of industry.
Yet we have killed one and robbed an
other to sustain the third. We have
prospered in spite of Radical legislation,
but the added straw broke the camePs
back, and there can be such a thing as
too much Radicalism.