The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1889-06-20
Foreign and FL )me Trade

The American Economist of recent date
discusses the comparative value to Ma
ton of Home and Foreign Trade, in the
following forceful article. When it is re-
membered, as here stated, that we have
free trade among the States amounting to
$25 600. 900 900, and that our foreign COM
merce amounts to only 81 400, O0O, 900 am
nually it ought not to be difficult to decide
which should be maintained by the policy
of the government. or course England
would like to have free access to our home
markets now supp he'd by our own indus
tries, and for this reason is spending mill
lions every year to circulate Golden Club
literature among our people ito convince
them that the true policy of this govern
ment is to open our markets to the free
competition of her pauper labor. It is not
England alone that is striving for this kind
of free trade, but we have Americans who
pose as statesmen, who are members OF
this Golden Free Trade Club, and pay
their annual dues to keep up its policy and
strike at the Industrial system of this
country. What we really want is such
tariff duties as will diminish importations
and enlarge the productive resources and
encourage the inventive genius OF our own
country. That is what the protective pol,
icy as to foreign products, and free trade
among the States as to our own productions
mean, and it is for this that the Repnbli-
can party contends and the Democratic
party opposes. But TO the article from
the Economist
British statisticians are fond of comparing
the trade of Great Britain with that of the
United states to show the superiority of the
former But they use the word trade" as if it
com prsed exclusively trade with foreign coun-
apparently utterly oblivious of Its existence.
They appear to think 1t Is of no value, and.
| therefore, not to be mentioned in the category
of The elements which constitute a nation s
glory and greatness. But it cannot be assumed
thai eminent statisticians like Mulhall do not
comprehend the Importance of home trade. 1t
| may rather be inferred that they keep it out of
sight i'll order TO iuatify their Glazing for the
superior greatness of England.
s persistently have English writer's limited
the meaning of the word trade to foreign COM
| nerce and Kept home trade out of sight. that
| fallen into the same habit. 1t Is possible that
this neglect of home trade is partly due to the
| difficulty of ascertaining the amount of the
n me- trade OF nation. Foreign trade ts easily
ascertain ID from the records kept ri the ports,
~ such record can be Kept of the details or
| amount of internal trade. Yet in recent years
estimates of this internal trade may be made
wi it'll ieasOnable accuracy from the census re-
ports. the records of transportation oompa-
lies, anu from the statistical returns of special
| trade bureaus
| Free-Trade writer's are inclined to magnify
the importance of foreign commerce as an ar
| gunent for the removal OF Tariff obstructtons.
one of the So writer's exhibits the advantage of
| The Unit ed states as compared with Australia.
| He says: The population of the United States
is about II times greater than that of Australia,
but foreign trade IL only about four times
greater. He reflects, however. as an after
thought. that cit must be admitted that more
| material is retained for home consumption in
| the former than i'll the latter" 1 his is pre-
| eisely The differ eDce. and how essential IL is
| aay be determined by 6 brief confederation OF
| tue relative value of our home and foreign
trade.
From various sources it may be estimated
/ that the home trade of the United States
amo luts to not less thar $25 900 900 900 per
| NUN. From the statistics OF The Treasury We
| ma the fore'sn commerce of the country
| PM UNITS to alb. ut 81 U.cU0.~0 annually. But
| here cnmes in another III portant COZ sidera-
ton: 1t is conceded by ere no .nlsts that III ev-
cry internal exchange there are two profits,
| both of which accrue TO the benefit of he La
ton: On the other hand. IN foreign commerce
| only one of the profits y for the benefit OF the
| country IN which IL ls carried on The other