New-York tribune., 1884-02-26
COMMERCE MORE THIN Barter.
SIXTH LECTURE BY ELLIS II. ROBERTS AT coRNEI

SIXTH LECTURE BY ELLIS H. RoBhHio Al CohNiA"
ITHACA, Feb 25.--The two schools of rev.
cnue legislation said Mr. Roberts in his lecture tonight
are divided by this line: Shall The revenue system favor
prodncton m largest measure shall exat commerce
70 the first place in ts favor The adjustment OF I'M
ross must extend protection and encouragement tO the
the other OF these two great interests in prefer
to the otner The question OF the balance OF uuc
derles the questions of revenue. All trade Is barter
it said and the pretence that an adverse Daahce o
trade derimcnt, opponent tells u.s. Is iaacy'
The truth however, Is adverse balance OF trade Is
threat may signify, If long continued, industrial as
wei as commercial ruin Is absurd to say that all
trade continues to be barter to say that all ccnahca
appliances simply the lever. The producer oil one
article is now rarely brought into direct contact with inc
producer another Exchange has passed into other
hands. and has become an occupation by itself In
order to know from his sales and purchases whether an
individual IA growing rich poor, must know II he
has credit balance, and must know whether lie mas
other operations than those Of which we are taking
special account The balance Of trade Is not mystery
When all the details gathered, the sums are ony
matter Of footing
Commerce Itself confers value The cost OF carriage
enters into the price OF ain in Liverpool or OF the
nrc we have TO pay for diamonds from South Africa
The nation which receives ray for the carrying trade can
expend such earnings for imports and not rnn dent lho
peOpe who have long been the worlds bankers must geu
much merchandise for the loans which they nave 'uo
nd ne
EXCEPT for these considerations the nation which sells
more than If buys is getting rich The nation which con-
tnuouslv sells less than 1t buys growing poor Leus
do iustcp 70 the carving tnde 1t is true that mercha
disc NAV he useless comparatively In one place ana Oh
extreme value in another But the first thing Is the
creation Of the merchandise. Naturally those who are
trade Holland while producing little almost controlled
worlds carrying tfdue Inc s"lhe "rVhu'i"" nus
10Y The nation as the individual may into bank
r,1fcv In the ease OF individuals we do not always
know whether the adjustment Is to he made nom past
sayings or from future credits But te purchase oi
more Than one produces brands the spendtrt
whether individual or nation Inc question Is WtetheI
impO,ts should be adjusted ~ to encourage purchases
cood thngt be sought by Government policy, for
fizens to be squanderng their patIimony on foreign
merchants. say insists that nations pay for pro
ducts only with products. IN me % % us may
rlto5 fro, prOducis but period thcy have taken
Ibis other form Certainty nations can Ra{ or lfGuets
that public debts may be paid In long standing 0biga-
tions which only ihe inieie15 & WI De met wi,noul
which invites # cannot be too severely condemned
The indebtedness OF nations results lIpn lne sum m OF
paycuts or promises to pay which pass between the re-
nectivc countries The school OF free trade protests that
II Wairs mo- difference how long adverse balance is
Won't mn YET the legislation OF every country IN Europe
proceeds the basis that II Is not Wen 10 spend your
laws Of mathematics are changed To please school
OF theorists Nations DO not tiy 10 inime one another
under the protective system The best customer is he
who buvs no more Than hc can settle iOr. The worst
cyil which great nation inict upon another is to
waste It's capital and incur indebtedness which II cannot
pay. =.
ono Of the anomalies OF revenue discussion - that
those who arc unwilling TO foster industries say
we shou'd lcei-latc spirit OF broad humanity They
dcuounce statutes which favor our own people as con-
ceiyed III hostility TO other nations. Charity begins at
home. Government mut first provide The conditions
which are essential 10 the prosperity Of its own ctEns
ANY system of revenue which invites an adverse b1l-
auce OF trade is dangerous 10 us. The theory OF free
trade aims at Just thar. by increasing Our imports.
Our own commerce has been cited IA proving the on
Yo.itc of what has here been said But We nave ha
continuous stream OF Immigration. eacn individual
which Mr. Lincoln estimated has brought $1,000 in per
.onal i1opeTtY with him. besides his human value as
rodrccr Ii only onc-half OF this value be put upon The
property bought have had enough 10 keep MS solvent
and strong british trade constitutes complete WARN
in for every other country where capital IS not I'm excess
o beware OF favOrug other interests 10 the cost OF home
production the tOriy years since Peel legisla-
tion Britain has multiplied s imports six times, 80 have
we and more Britain has multiplied her exports four
ana one half times within the same period; we have
mulflDled ours than eight times Yet we have IN
tle mean time borne the hTlUt OF terrible c.v war
since 1868. British imports have increased IA times;
our imports nearly times. IN the same period Brit
i.h increased T34O93i563, or by less than
ono tlir: our exports have increased by SllOO45I1l
q times. ana %1O.O0O,0O0 more in value than the
British increase. We have no reason tor changing orr
revenue BY stem TO that which presents such contIss