The times. [volume] (Richmond, Va.) 1890-1903, 1892-10-28
A POINTED AND VALUABLE DISCUS
SION

A hard-headed, clear-thinking English
man named Gedge, formerly a member
of the House OF Commons, paid this
country a visit a year or more ago
Whilst in Washington President Har-
rison invited him TO the White House
where he had very full discussion with
the President Of the operations of the Nc
Kinley tariff upon British exports to
America. Mr.. Gedge has recently writ
ten an account OF this discussion TO the
London Times, and, from his account of
It. he certainly got very much the better
Of Mr.. Harrison. We believe his account
fairly represents what took place, be-
cause what he puts into Mr.. Harrison's
mouth is the standard argument OF pro-
tective tariff advocates. and what he rep
resents himself as saying is what ought
10 be said by a sound thinker on political
economy.
Mr.. Gedge says he expressed the
opinion that the tariff would not keep
British manufactured goods out OF
America for the reason that the Ameri-
NehS Hthd OOiil " the value OF 3oDU,VUDVDD
10 sell TO the British, and this enormous
amount would not be paid in gold because
Great Britain could not spare It and be-
cause II was doubtful If there was so
much gold in the country"
Our readers will. Of course. understand
that when Mr.. Gedge speaks Of corn" he
does not mean what we call corn" The
European uses this word TO include all
grains, but applicable more particularly to
wheat. He speaks of what we call corn"
as maize.
What Mr.. Gedge says is perfectly true.
Great Britain cannot pay for those of
our exports which she takes with gold.
She has not got the gold to pay with, and
she must therefore pay with her manu-
features. Mr.. Gedge continues:
President Harrison stated that Amer
lea would then drive England into BIZ
metalism, which is what he wanted TO
do. In response TO this Mr.. Gedge asked
OF what use the gold would be unless it
was spent In manufactures and products
that America does not possess.
The President replied that the chief
commercial object Of every country was
10 hoard as large a store OF gold as DOS
sible In the national treasury.
Respect for the President adds Mr.
Gedge, stopped the retort that rose 10
my lips that In England old women like
10 do the same thing with a stocking"
Mr.. Gedge's inquiry. what would we do
with either gold or silver except to buy
with them what we did not possess? was
a perfectly natural apd san.4t,u -. ,
the retort which suggested itself to his
mind In answer to Mr.. Harrison's state
ment that 1.-The object Of every country is
TO hoard as large a store OF gold as posi-
bic in the national treasury" was a proner
one and one that contains in itself the
suggestion of complete exI csure OF the !
fallacy embraced in Mr.. Harriscn's pron-
osition.
No statesman who is At TO have the |
title applied 10 him aims at seeing the |
government accumulate { nd hoard a large /
store OF gold. II II be wise TO ar |
cumulate and store much, II is wise 10 /
accumulate and store all, and thus take |
away from the people that which is alb
soiutely necessary TO their existence. The
curse OF business is its parasites who
hoard money. and there is no difference
IN principle between the old woman who
stores 1t in her stocking and the govern
nent that boards It In the vaults Of its
treasury.
NO statesman wishes 10 see more gold
'ome into the national treasury than is
sufficient to meet the accruing and pass
Ing demands OF the government. He
wants to see all the rest scattered amongst
ne people. and passing freely all the
ims from hand to hand. Mr.. Harrison