, 1890-07-02
FIGURES y MARKETS.
EXPORTS AND IMPORTS HAVE NO RE-
GARD FOR "SANcTITY."

fact that the foreign market is worth
consideration at all by free born Ameri-
cans, and Of limiting covertly that the
only thing that is necessary for us to do
is to cut ourselves of from this foreign
market and keep an American market
all to ourselves. What else does he mean
when he calls his bill an American bill;
when he asserts with q needless display
of ignorant, patriotic gush that his bill
is not a European billi
The long and short Of the matter is
that Mckinley looks upon foreign trade
as harmful TO the country and with "the
touch OF his u~nhAllowed hand" he
would throttle that trade. He is willing
that we should sell in the foreign mar
ket, though We must understand at the
same time that no sRnctity hangs about
It; but he Is by no means willing that
we should buy in that market at all; it
has too little sanctity hanging about it
to admit Of such a thought.
But II the country should adopt Maj.
McRinley's views, and should decide to
buy nothing at all in the foreign mar
ket, what then would be the result? II
we cease to buy in those markets t must
follow, as the night the day, that we
.h,u ca,sa 20 .oT thew Fora;on com
marca "a carriad on nv barter-goods arc
Jran ,or ooods ond tbo baIanes onIri
nsda mn IN Money For .ramnIa Nv
FOL eInor+s I,s. vs.r nov. AL os1 oet
and ~ tbIs larga srm orIv ora doTIor IN
evarv aigbtaan would have No. so,t 70
n. across the OCEAN tba otber ssventoeu
dolIars heIng mada mn IN goods sh;nnsd
\, "a. In 9oint ~ f,ct So1-ana- H.
balsnca was moi mad nv ~ ~ -, am'
hut ON tba con,rarv No shinnad 49,
gold and silver coin ard br1itan ahroaS
tbar No racoiyad bocL IT, a. %
=. ,o,iows.
aola .nd .,v.r colin an, ,,n,,,
ported sot eo 400
Gold and silver coin and bullion i'm
p"Ted''"'".'.""""" si,ass,soi
Leaving an excess Of ..,ort, "
amounting to........... 49,. $50, sos, 100
But our imports of foreign merchan-
disc last year were $40, 524, s47, against
our exports, as shown above, of $s14,-
2s7, 961. Our exports, moreover, were
further increased by some S18. OOO. 900 of
foreign goods which we ~re-exported, and
our total exports amounted thus to $S27,-
ESQ, 46S.
Now here is a problem for the pro-
~tectionists to solve. They say that when
we sell more goods abroad than we buy,
the balance of trade is in our favor, and
money will flow into the country TO
make good that balance. Very good;
but what do these figures from the treas
ury department at Washington show?
First, that our exports were greater
by Soo,72o,e2l than imports, which,
according TO the well laid plan" of the
protectionists, ought to have come back
TO US In money.
But, secondly, the reports show that
the gold and silver coin and bullion ex-
ported was greater by 800, 403, 100 than
that imported
And, thirdly, combining the two sums,
the excess OF merchandise and of coin
n bullion exported. we find a sum Of
gll7. l2s,4l7 apparently u-naccounted for.
Thai is the value Of money and mer-
chandise which went out of the country
last year with no visible return to show
for 1t. Did the "blarsted foreigners"
cheat usf
Not by any means Every separate ar
ncle sold across the water was bargained
for by two Intelligent merchants, the
buyer the seller. Neither of these
could ship a penny's worth without the
consent OF the other. The old saying
holds true, that it takes two to make a
bargain; and it may be added that these
two can make their bargain more salts
factorily between Themselves thanit can
be made when s.Qsine other power inter
7 fneddles.
But what became OF the odd S117 600 =
000r The explanation is simple after all.
Foreigners, especially the English, own
vast properties in America in the form
Of government, state and corporation
bonds. The operations of the British
syndicates last year were famous; and 1t
is well known that many mining proper
ties, many breweries and other manu-
featuring establishments have fallen into
the hands Of foreign buyers.
Now the larger part of these millions.
not yet accounted for, went to pay the
dividends on these foreign investments.
Another large part went to pay freight
to the owners of the foreign ships that
carried away our goods; for only a ride
ulously small proportion of our products
went out in American bottoms. Besides
these two ways for absorbing the excess,