The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-09-07


favor because we were paying our !
debt. Now, as matter of fact,
our highest debt 1855, was s2,6S0,6i7, s6a, |
and our present debt QSSY is 1851, 3d. |
4l9. The excess of exports over imports
in that time was about S3,000,000, 000- |
enough to have paid the whole of the orig !
inal debt with the interest added, if the
editors theory were correct. Besides,
much of this debt is owed to ur own citi-
zens, and nothing is exported TO pay 1t
in their case.
The sssaneo editor said this excess of ex
ports over imports is not invested abroad
and when we asked him what became of it
then, he said, Someone must have gotten
away from the Provo ayslum sure" We
leave our readers to Judge who the escaped
lunatic is.
The 'sane" editor wrote few days ago:
Our claim was that imports were so much that
they drained our country OF gold and silver to
pay the balances
We then quoted the report Of the secre
tary OF the treasury showing that since 1876
our exports were greater than our imports to
the extent of 81 $3.50, 600, 000. Here is the
'sanen EDITORS reply to the secretary of the
treasury: He says THE HERALD man
Jumps on his music box like o bald-headed
monkey, anu grimaces joyfully over his own
brightness.
This Is the only reference he makes to his
statement about our imports being so great
that the country is drained of it's gold and
silver to pay for them. Convicted of lying,
he refuses to argue and calls names; brave
fellow!
| The 'ssame' editor declared that
The balances instead of being met in money
have been met by returning to this country this
country's prom ses to pay.
Ana he also maintained that by favor
able balance of trade'' we shall get the
money mot promises to pay merely of
other nations.
The same" editor says that
In all Europe, Asia and Africa there is not
ten millions OF American money invested.
And the statement of the secretary
of the treasury shows that for the
present fiscal year ending June 30,
our exports Of wealth have exceeded our
imports of wealth by $685. ,0.3C4. OF
course, the owners do not invest this
wealth, says the very same editor; they
burn itup OF throw it into the sea,
The ''sane" editor maintains that if the
"balance Of trade'' is against us-if we re-
ceive more than we send away-we shall
have to pay the difference with gold, thus
Our claim was that the imports were so much
that they drained our country OF gold and silver
, to pay the balance.
, For example, our exports in 1887 were
$751;, $50, 902, and our imports S752, 400, 500
the difference, S309,65S, showing how much
more we received than we sent out OF
, course. says the ''sane" editor, we sent gold
, and silver to pay this difference Just so
our export of gold and silver for that yeal
was S22, 710,340; olsr import of gold and sill
: yer in the same year was $50, 20, 792. That's
the way our country was 'drained' of gol(
f and silver to pay the balance-by receiving
2 s37, 600 more gold and silver than wa.
sent away.
| Enough is feast. 1t is not necessary t
t cremate this alleged argument of a scatter
Drained crank, after we have kicked tn,
life out of ii, and dissected it and ther
: buried it with facts.
;. We merely state again Fundamental
o truth that drives the worried projections
t editor mad, every time he hears of it
g Americans being efficient workers, pro
r duce surplus that cannot be consume,
here and it must be sent abroad or let go t.
t waste. The farmers, for example, produc
= each year over $500, 000, 600 worth of wheat
s beef, pork, ETC., that cannot be eaten here
e We send only this surplus abroad, for W
It should be fools to send over the ocean wha
e we could as well sell here. To produc
g this surplus has given employment t
|, 1000, 600 men in farming alone 1t must b
sold or these men cannot get their pay
al We sell this surplus for the chea
It goods of Europe, receiving muc
r. for little; but when we attemI
to bring in the payment for til
e. goods, the government seizes on
Id third of it, and this c,nfscation of tn
at goods we have worked for is called prote
is ton. The purchase of these goods is 81
it fected by bills of exchange. The goods in
III ported are the pay for the goods e,
ported, each amounting to about seve
hundred million dollars year, as show
r. above. 1t does not pay to bring back none
ne for our goods, as money will not buy
e. much in this country as abroad, so me
e. buy and bring back goods that are in d,
Mt mand. But the government seizes on
ut third of the goods at the custom house, al
at this takes away the profit on importation
ng So the merchant prefers to invest as mu.
ed of his payment abroad as he can, and bu
r. shares in English ships or Russian RAJ
I'D roads.
of Thus, it happens that we send avn
lis more goods, specie included, than we bril-
ah back-our exports exceed our impor
ng In fifteen years we have sent abros
nd 81, $50, 100000 more than we have broug
back. This wealth is of course invest
abroad, and the editor of the Tribune ma
tains that this driving abroad of our weal
makes US richer. He also pretends to
~. sane. ~