The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-09-09
THE ORGANS LATEST FAILURE.

4t
| The latest stagger of the Tribune to ex-
plain how this country gets rich by export
| ing its surplus wealth to other countries,
is as follows:
"a man in this city pays $1,000 a year to
| a man in Logan on a debt; his money has
gone to Logan, has it net! If it has gone
to Logan, has he not invested it there!'
This is what certain lunatic is saying in
this city, except that the places, instead of
being Salt Lake and Logan, are the United
States and Europe"
The argument is not about who invests
! the money, but ,oIiere 1t is INFESTED. In the
case the Tribune gives, it is certain that
81, 900 q year is being invested somewhere
outside of Salt Lake, and the wealth of
Salt Lake is $1,000 less than if the money
had not been sent away or if the debt had
| not been paid.
But the parallel is faulty, and should
| read like this: A man in Salt Lake sends
every year to Logan 81 $50 more in wealth
OF some kind, horses, lumber, money, ETC.,
| than he receives from that city He has
been doing this for thirty years, because
Logan charges him nothing for making that
wealth, while Salt Lake seizes one-third of
| the wealth he brings into this city, as fine
for importing wealth from any other city,
the governing officials in this city having
| theory that if a city imports more wealth
than it exports, the city will grow poor.
| 1t is clear that in the case given Logan
has enjoyed the use of 600 of this mans
money in this time, notwithstan ding the
Tribune'S theory to the contrary. Salt
| Lake has lost that amount, which has been
invested in Logan.
| So it is between this country and Europe
! The wealth we export is invested or used
| abroad, and the wealth we import is used
or invested here; and if the export is
greater, gold and silver included, than the
import, then the difference shows the
amount OF wealth driven from this country
to be used up orinvested in other countries
| 1t is this encouragement of importing
that causes our exports to exceed our i'm
ports to- the value of 81, $50 600, 900 in fifteen
years. This excess is invested abroad
whether it is owned by Americans or
foreigners. In any case, the wealth of this
country is diminished to the extent that
exports, gold and silver included. exceed
| imports.
| Between the two cities we cannot be GER
tain that the Logan people do not send this
money back and invest IL here again, be-
cause we have no custom house to keep
track OF the money, and no tariff to dis
courage trade between the two cities.
Between the two countries, however, we
can tell whether the wealth comes back or
not. If it doesn't come back, it is certainly
invested abroad. and is lost to the country
no matter who invests 1t. The Tribune
thus maintains that it doesn't matter how
much of our wealth is invested abroad, pro-
vided that foreigners invest it there; that
sending away our wealth makes US rich,
if we are really paying war debt with it.
Ii we only had war debt Thousand times
as great as we have now, says that organ,
we should be rolling in wealth by sending
away thousand times moro than we now
send to pay for it, So long as the foreign
ers receive and invest this wealth, the
Tribune says our country does not suffer by
sending it.
1t makes little difference who invests the
wealth abroad; but it is all the worse for
this country if the foreigners invest it, and
not our own citizens. Our own citizens
would at least bring back to this country
the profits on the investments; while
foreigners will not do even that.
Thus, the latest attempt of our protec-
ZIONIST friend to show that the more wealth
we send away and the less we receive in
return the richer we become, fails as
misera5ly and completely as his previous
wild efforts in the same direction failed.