The midland journal. (Rising Sun, Md.) 1885-1947, 1890-07-25
Keeping the Money at Home.

The expression has a seductive sound and
is in common use by certain class of po-
ltical economists. But seriously you CAM
keep money at home unless business is en-
trely suspended, and then there would b'
little or no money to keep. The dollar
that is once spent is gone from that person
for eyer. Ifjudiciously spent it may be the
means of profiting him but he will never SEE
again the dollar that he has expended. He
must labor TO produce something which
somebody else wants in order to get other
dollars, and it is of no material difference to
him who gets the dollar or dollars that have
been exchanged for goods. They will never
return to the hand that parts with Thorn un-
til something that is wanted by somebody
else is produced which will bring back
other dollars TO go the way of their pred
ecessors.
A common expression is used by the mer
camille papers that the balance of trade is
against us, and gold is being exported; and
this is supposed to be note of alarm. If
gold goes out of the country, its equivalent
must come in. There is no palmer axiom
than this. The balance of trade is often
against us, it is said. This cannot be if tn"
goods are paid for in cash or other goods.
If we purchase more goods from foreign
nations than we sell to them the balance of
trade is said to be against US. Such con-
dilion cannot possibly exist unles, we go in
debt and give interest bearing bonds to pay
the difference. In that case future earnings
would be discounted to pay for what was
being used to-day.
There are several retail stores in Rising
Sun. The merchants from experience know
what goods the neighborhood people want
and about the quantity of each kind it is
necessary to purchase to supply that want.
They look over the price lists to ascertain
where the goods Can be bought the cheapest
and send their orders. When their custom
ers come 10 make selections they pick out
the class of goods they want and pay the
price asked. They seldom inquire where
the merchant bought bis goods, ror do they
care. 1t is all the same TO the buyer wheth-
er they were ordered from Baltimore, Phil
adelphia, New York, London, Paris, Hong
Kong or any other mart near or remote.
They pay their money and it does not make
one particle of difference to the buyer where
the goods originally came from. He will
never see the money again he parted with
in completing the purchase. The purse
that was emptied must be replenished in the
way it was formerly filled. If a farmer, the
green earth beneath his feet, the golden
sunshine, the rain cloud and the life giving
air are placed at his disposal by nature,
and with good strong arms and brave hearl
he draws from this ever overlooking Store
house of wealth, that which all the world
besides must have or perish, and again his
purse is filled, and the same unceasing
round is pursued.
All wealth comes from the earth, and the
money which facilitates its exchange is no
part of it. Gold going to Europe to pay
balances does not mean loss to the people Of
the United States, neither does ''balance of
trade against u.s." If our merchants pur-
chase goods from foreign nations they pay
for them with other products or money,
and they have got the worth OF whatever
they buy it is prettey safe to conclude. All
that is bought must be paid for let it come
from where it will, and before the goods
are bought their value must be earned.
And the alarm created by the popular cry
Of gold is being exported to pay balances
and "lhe balance of trade is against u.s." is
baseless as dream. There can be no loss
when the buyer gets the worth of the money
or goods which are given in exchange. The
cry of keep the money at home is political
economy claa-trap, and the larger the ex-
penditure of money the more prosperous
and wealthy the people and nation.