The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1890-06-28

given for goods, and the balance only Il
made up in money. For example, GU,
total exports last year were $s14, 22S7, 961
and Of this large sun only one dollar il
every eighteen would have been sent tx
us across the ocean, the other seventeen
dollars being made up in goods shipped
to us. In point Of fact, however, this
balance was not made up to Us at all
but, on tho contrary, we shipped more
gold and silver coin and bullion abroad
than we received back. The figures arc
as follows:
Gold and silver coin AID bullion ex.
ported $91, Gg7, 60
Gold and silver coin and bullion im-
ported. 81, 1923, So
Leaving an excess Of exports
amounting o......... ....... $50, 3G3, 79
But imports Of foreign merchan
disc last year were s770, 5s4 SAT, agains'
u exports, as shown above, Of $814,.
2S7,eC1. Our exports, moreover, were
further increased by some s13, ZOO, 600 Of
foreign goods which we re-exported, and
our total exports amounted thus to 1927,
250, 1853.
Now here is q 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 tc
make good that balance. Very good
but what do these figures from the treas
ury department at Washington show2
First, that our exports were greater
by $50, 725, 621 than u imports, which,
according to the "well laid PLAN Of the
protectionists, ought to have come back
to us in money.
But, secondly, the reports snow that
the gold and silver coin and bullion ex-
ported was greater by $50, 4O3, 1906 than
that imported.
And, thirdly, combining the two sums,
the excess Of merchandise and of coin
and bullion exported, we find a sum of
81 7,129,417 apparently u%naccounted for.
That is the value of money and mer-
chandise which went out Of the country
last year with no visible return to show
for it. Did the ''blarsted foreigners"
cheat us?
Not by any means. Every separate ar
ticle sold across the water was bargained
for by two Intelligent merchants, the
buyer and 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 make their bargain more salts
f~actori1y between themselves than it can
be made when some other power inter-
NEEDLES.
But what became of the odd S117, 00O,-
COOP 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 it
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 Of the foreign ships that
carried away goods; for only a ride
ulously small proportion Of our products
went out in American bottoms. Besides
these two ways for absorbing the excess,
there is u third which deserves mention.
Thousands Of Americans go to Europe
every year. These travellers take with
them drafts which are cashed at banks
in Europe; and our goods must go to
Europe to satisfy the holders Of these
drafts finally. ~. .s.
In these three ways, then, the $117, OO0,-
GOO are accounted for. It is not. a thing
to be alarmed about.
But suppose now that the Republicans
succeed in carrying out Mr.. McKinley's
notion that buying in foreign markets
is essentially a bad thing and we will
have one Of it. Then we must take the
other side of the matter, which is neces-
STATED by this Mckinley notion, and
give up our sales in foreign markets, ex-
cept to make up for the few free goods
left us and for the dividends Of the for
eign investors in America.
If this shutting of ourselves out from
foreign markets is carried into effect,
who will be injured most by that? Let
Ao .CAl1llluS Jul t1Ctaou1y ICpOlG 6eSH1hs
Of the 1914, 900, 600 Of domestic merchan-
disc exported last year, III farmers sold
5000, 507 ,055, and our manufacturers
$3.50, 1874 ,94o. Mining, forest and fishery
products making up the remainder Of
some sixty millions.
Now the difference between the ex-
ports Of the farmers and those Of the
manufacturers is seen to be $$449, 372, 565.
This means that u farmers have
three times as much interest il. preserv-
ing the foreign market as the manufac-
turers have. I
/ Are the farmers ready to see that mar.
ket Of theirs sacrificed to Maj. McKin-
ley's Whirns and to his subservience tc
the manufacturers?
Is is no a hollow mockery, too, for
Mckinley TO call his tariff q farmers
! tariff? b.