The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-01-07
a BRILLIANT THOUGHT.

a BRILLIANT THOUGHT.
IN late issue of The Commonwealth, WN
KNAPP discusses the question of wages as
affected by the Mckinley bill. We are I'M
able to find any reference in the article to
the subject announced in the title, unless il
De the following brilliant thought. In re-
gard TO the maintenance or increase of the
taxes on cottons, woolens aud linens, 1.-THE
clothing used by the great Majority to use
the writers words, and on tin, the following
explanation is given:
! Well It was for a purpose. To keep that
/ money in the country, increase the scope of oc-
cupallonS and teno to raise the wages of la
Dor 1t makes more work TO be done =
! The law also encourages the manufact-
ure OF our own tin plate, that we NAV retain at
home over twenty-three million dollars sent to
Great Britain last year for this article alone.
ITO keep the money in the country"-a
brilliant idea, much like that of the smart
fellow who would go around the world
simply by ascending few hundred feet in
balloon by letting the world turn round
under him.
This brilliant thought would not have
been placed upon paper had the author
read the last report OF the secretary of the
treasury, in which the following state
meats occur:
The value OF imports of m ,rchandise during
the last fiscal year was the largest in the his
tory Of our commerce. amounting to $3.50, $40. 400
The value of exports of merchandise during
the same period was $751; 1854
The exports exceeded the imports of mer-
chandise by S63.51S2a5.
1t seems, then, that not only do we pay
our own products for those we import. but
that we export more goods than we import
Mr.. KNAPP fancies that when we import
foreign goods, we pay for them by sending
away our money; but the facts set forth by
this medieval theory, and show that, as a
whole, goods pay for goods
But" says the protectionist, 1.-THE bal
ances are paid in gold, and last year ac-
cording to the secretary, the balance of
trade was Sos, 5lS,275 in our favor. which
must have been paid to US in gold, Yet
the facts are against this theory also. The
secretary reports that there was more gold
exported than imported last year, the ex
silver also was exported than imported.
What, then, was the pay for this excess
OF exported goods. 1t was not gold or sill
yer. 1t must have been something carried
in the pockets of the creditors agents. Or
sent by mail into this country: that is, it
must have consisted of bonds, securities.
etc. The pay for these goods must consist
of certificates of stock in some English
ship or Russian railway, possibly of some
American security re-sold to our merchants
And in general. excess of exports shows
that the wealth they represent is being in
vested IN some foreign country.
Had Mr.. KNAPP known that the total
amount of gold exported in excess of that
imported was less than five millions of
dollars, he would not have asserted that
we sent over twenty three million dollars
TO Great Britain for tin alone. Especially
would he not have said this had he known
as the secretary of the treasury reports,
that we sent to Great Britain last year
S261 ,406, 100 more in goods than we received
from that country. But protectionist
has no use for facts: he is given over 70
theory, and cannot be induced to look st
the facts
Mr.. KNAPP states one fact, however. in
the lines we quote from him. He saws pro
lection makes more work TO be done; ~
and he is right in this assertion Protec-
ton does increase the amount of ror,,
people must do. but it diminishes the re
suit. Thus, Utah pays bullion and flour
for California oranges; but if Utah could
place high tax on imported oranges. that
fruit might be raised here in lighthouses
We should then get oranges, of an inferior
quality perhaps, without receiving them in
exchange for -four and bullion. Of course
oranges would be dearer, and we should
have to work longer for a dozen of them
than we do now, the other difference being
that the capital and labor now EMPLOYED in
producing the bullion and -four would then
be producing the oranges directly. This
would provide us with more work and
fewer oranges, and this is what protection
always does.