New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-30
THE MARKET QUESTION.
VAST INEQUALITY BETWEEN HOME AND
FOREIGN MARKETS.

"A LETTER FROM MR.. JOSEPH NIMMo, JR.
To the Editor OF The Tribune.
Sir: The relative value Of home and foreign
markets is the chief factor in the determination
Of our tariff policy and, think, is conclusive on
the whole subject MY successor in office, Colonel
VIM. F. Switzler, has courteously prepared for me
most valuable table from which it appears:
First. that the total value of the exports OF
merchandise from the countries of Europe TO for
eign countries was for the last year of commercial
statistics S4,3l1,423052
Secondly, that the total value of such exports TO
countries other than those of Europe was
s1,o34, 33954l, of which s35 1000 900 was to the
United States. The trade between the different
countries of Europe, and especially between con-
tiguous countries, corresponds with our interstate
commerce, and in the nature of things it is not q
trade in which the United States can to any extent
compete. Without going into detail it appears
certain that in competition with the countries Of
Europe the United States cannot now increase its
foreign exports more than 1000 600. 00O and
probably not half that amount
Now let US inquire as to the total magnitude Of
our home markets. The total value of the prod
ucts OF industry in the United States for the GEN.
sus year 1880 was according to the official ex-
hibits SHAREHOLDERS. This included only the
merchantable products Of American industry. It.
iaiied to take account Of many products OF in
dustry and dld not include the cost OF constructing
wagon roads. railroads, streets, sewers or build
ings or other liked improvements Of any sort or de-
scripuon. Nor did it pretend to embrace the prod
ucts OF any establishment the an
nual value of which was under $500
In the year 1884, as Chief of the Bureau O,
Statistics, estimated the total value of the mod
ucts OF American industry at ten thousand million
dollars 100000 1000, and nv friend Mr..
Edward Atkinson, of Boston, q pronounced Free
Trader OF the scholastic order arrived AZ the
same conclusion by an entirely different process
But Mr. Henry V. Poore. the most eminent railroad
soacstician IN this country, estimates the value
Vi one merchandise transported on railroads in the
united States during the year 1887 at sI3.5OO-
ooo'ooo. He however, takes no account of the
large internal commerce OF the United States on
water lines.
believe, therefore, that the total magnitude
OF the available foreign markets is greatly over
estimated, and that the total magnitude of our
nome markets is underestimated in the following
comparison:
value OF foreign markets. 81, 900, 600, 900;
value OF home markets, $4,000, 900, 900:
This shows the total magnitude of the home
markets to be more than thirteen times that of the
possible foreign markets.
But the home market is entirely our own and
completely under our control, while we can onlv
hope to secure share Of the foreign market in
hot competition with the countries of Europe
where labor and capital is cheaper than in the
United States
In his last annual message President Cleveland
openly recommended general reduction in the
cost OF production in this country by admitting
nd Aa Iofo lol a..
by declaring that it would give to our manufact-
urers better chance in foreign markets with
the manufacturers of other countries and a. to
tnelr employees more certain and steady labor
But this would simply be to invite all the world
to scramble for the advantages Of our rich
home market, worth $4,000, 0OO 600 year. the
most inviting field Of commercial plumber
on the globe for the privilege of competing in the
cheap foreign markets, worth only ST. OOO 600 900
q year. This is the reason why England is so
anxious for the reelection Of Mr.. Cleveland not
outstanding his recent Retaliation Message.
The foreign market, instead Of afording Ameri.
can ployes more certain and steady labor"
would furnish most unsteady and uncertain labor
The violent huctuation Of foreign markets has
demonstrated this. Experience has abundanty
proved that it is only by bringing producer and
consumer closer together that greater certainty
and steadiness OF labor are secured. This is
one of the best fruits of protection.
The President and Free Traders generally demand
that the materials which enter into manu-
features shall be made free. During the census
year of 1880 the total value Of our products
of manufacture was So, OIL, and the value
Of the materials used was 1885, 823, $40, sum
than three times large as the entire foreign
market available for the United States. The
market value of such materials, usually denom-
mated" raw materials by Free Traders is entirely
the product of American labor, and almost en-
trely labor of the lower grades, receiving the
relatively lower rates Of wages, and composing
the great bulk of American aborers engaged in the
agricultural, mechanical and mining Industries
OF the United States Here is just where the
blows of free trade would strike first.
Our home market is at all times regulated and
the wages OF labor and the prices of commodities
are at all times determined by the conditions which
secure American rates of wages to American labor
ers; and American labor and American capital
entitled II the full benefits which those con-
ditons afford This is the key to prosperity.
Free trade Is based upon the idea Of world
wide scramble for cheapness while protection is
based upon the idea of securing remunerative en-
ployment in this country for every willing head
and hand. We are now able To export largely,
chiefly products Of agriculture, because Of our
superiority in the wonderful exuberance Of our
soil and our vast agricultural area.
The foregoing argument is addressed to the
doctrines proclaimed by President Cleveland in his
Message and TO the free-trade principles cherished
by the Southern Democracy during the last fifty
years, and clearly expressed in the assertion
of Senator Vest. OF Missouri. that Mr.. Cleveland
has challenged the protected industries OF the
country to fight of determination" and in the
sentiment expressed by Senator Coke, of Texas,
in the Senate on the 18th of September. 1888,
that if there is any thing the average Texan
would go any number of miles out of his way TO
kick and kill and destroy it is protective tariff
/ have also addressed my argument to the theories
wrought ont by Professors Sumner and Perry in
the unvexed silence of students cell" and to the
doctrines proclaimed by Mr.. Bayard and many
other Democratic leaders of the United States who
are members OF the Golden Club of England. l
could not possibly waste my time by engaging in
contest with those Democratic managers and
partisan advocates who are now taking counsel Of
their fears in the vain attempt prove that their
party is not free trade party
JOSEPH NINlMO. JR
Washington. d. c., Oct. 30. 1888