New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-15
QUICK ROADS TO RUIN.
MR.. MILLss PLAN ONE OF THEM.
HE SEEKS TO HAND OYER TO FoREIGKERs'iTH x
PRODUCTION OF $500 600 900 WORTH OF GOODS

lie SEEKS TO HAND OYER 10 FoREIGSERs,THn
PRODUCTION OF 5000 600 900 WORTH OF GOODS
NOW MADE IL THIS COUNTRY.
From The Weekly Tribune)
"The St Louis Republic publishes long in'er-
view with Mr.. Mills, the statesman from 'orsicana'
Texas, in which, among other thihgs' IL in~""
the defeated candidate for Sneaker say
reduction Of the tariff TO 20 per cent a nPS 0no
revenue basis would increase our imports s5oC 20
ooo and that amount o. eXPG rtv oer cent o, these
exports are agricultural products. OF which coltom
the largest and have produced Of that TINS year
5000, 100000 p0nnds. ., r..
Thu. short extract contains the gst OF the ffee-
trade theory 1t is just that statement, IN ono
shane and another, which cur free-trade frieuds
have been repeating for the last fifty years Leu
rs examine the subject moment
In the outset the statement is frank, square
admission that the Frec.traders seek TO increase
the imports of manufactured goods into TINS couh-
try IN tbr enormous extent of $500 000. 900 year.
That increase must Of necessity be composed alnsose
wholly of goods which now made or produce"
in this country under the influence OF fFoec'io"'
Mr. Mills will not claim that there would be any
natural increase in the import" OF tea, cohee sue
or hides or of any other article now on the lree
| list Neither would he claim that there woui"
be any increase in the importations of luxures, on
which our protective system levics purely revenue
duties and which are not competing with American
products He will not claim that there wouio
follow a greater influx OF diamonds. costly cnam'.
pagnes or high-priced goods, which we do nos
produce in this country. The rich would con-
tnue 10 buy about the same quantity of those
goods without regard 10 the duty Hence, OK
necessity he desires to have the foreign manu-
facturers enter our markets and sell S3OO,OO0.-
900 worth more OF goods, in place of those which
md nv
II he does not mean exactly that, then does he
mean anything?
II is to me simply astounding that any man,
with grain Of common sense, can claim that such
procedure would benefit this country Ihao
step would at once drive out Of employment the
men now engaged in this country In producing
$500, 600, 900 worth of goods, or 1T least compel
them to seek other kinds Of work.
"Of course" would he Mr.. Mlls's reply, let
them go to farming" Bat there are no lack Of
farmers in this country. There are plenty of men
producing farm products to-day. What we do
need is really more men making manufactured
goods so as 10 increase the home market for the
products OF the farms. 4 good home market al
ways means prosperous farming.
But" says Mr.. Mills. our importation OF
$500 200, 900 more OF foreign goods means that
the same increased amount Of our products would
have 10 go out 10 pay for that increase Of IMPORTS
and that would mean large increase in the
quantity u our farm products which those nations
would buy, and also large increase in the price
We would receive for such products
Mr.. Mills knows. or ought 10 know that there
is no foundation in fact for such statement.
Foreign nations never have graduated, and never
will graduate their purchases of our products by
the amount We purchase from them. In their pur-
chases of our farm products, they will he governed
.I,., I'm
by our desires They will always buy the goods
they need, where they the cheapest. They
will never take a pound Of meat or a bushe Of
grain from the United States than they
need let us buy of them all we may: and they VIII
not buy even what they need from the United
States if they can do better elsewhere. The sta
tistics of the trade of the world prove my state
ment to be true and leave no chance for contro-
versy upon the question
The mistake which Mr.. Mills and his entire
school of political economists make Is this: they
assume that if America should buy $300,0O0,OOo
more manufactured goods than at present they
must be paid for necessarily. by American farm
products American manufactured goods. Such
is not the case. They must be paid for no
doubt. but if the balance of trade is against us
they must be paid for in hard cash or securities.
The plan of Mr.. Mills would simply compel this
country TO meet the adverse balance of trade. and
thus the United States would he constantly
eXhausting its mines of precious metals for the
benefit of the Old World. The present plan keeps
the balance of trade in favor ~ the LATED
States. and if we maintain our present wise sys-
tenn a few years from now We will have IN this
country more ready hard cash than will be o&ned
by any two nations the face of the globe.
Why do these frcetrade theorists always ignore
the fact that a debt between nations can be paid
in money and securities as we'll as between indi-
yiduals9 4 farmer who sells each year more dol
lars worth of stuff from his farm than he is
compelled TO pay out for his living expenses, who
is getting each year balance in cash, is Oh the
road TO "a competency Nations governed by
precisely the same conditions. \ nation which
is each year producing and selling more than 10
buys. and so is compelling balances TO be paid
TO it in cash. is the nation which is doing we'll
On the other hand, any nation which is con-
stantly compelled 10 send its precious metals
abroad TO meet it's debts is most surely running
behind.
The Mills plan would simply impoverish this
Nation and ruin large number of industries
which are now furnishing labor for M fttt5ens
and which add much to the general prosperity
Of all our people. Il, G. H0RR