The Maryville times. (Maryville, Tenn.) 1884-1944, 1892-08-24
Balance of Trade.

Dalance OF prontS III une pOckcUS OI
our people. .....
1t means that we are creditors instead
of debtors, that foreign nations owe us
money or goods instead of our country
being in debt to foreign nations.
Free trade professors" pretend to
sncer at balance of trade and say it
represents no wealth.
Yet those very free trade professors"
would far rather sell their text books
to English students and get back good
British gold in return than use up their
salaries in buying English books with
out selling anything Of their own.
A balance of trade is al index of
country's business, of its purchases and
sales, of its profits or losses.
If it>be profitable for an individual to
sell more than he buys and thus have a
balance of money-virtually private
balance of trade--in his favor, why is it
not just as profitable for a nation?
A balance of trade may be paid in
money, or in goods and services. Either
mode Of payment insures to the profit
of the country in whose favor the bal
ancs exists.
If the payment be in goods or serv-
ices, then the debtor nation must be-
stir itself to send these goods, whether
of its own or of foreign production, or
perform those services. AS a conse-
lucnce, we get more goods for less
money than we would get were there
no favorable balance.
The beneficial effect of payment in
cash need not be explained. Money, it
is true, is not consumable, it cannot be
eaten or worn, but it has far more
important function. Money is the life
Of trade. Where money is plenty bust
ness is active and enterprise awake.
Where money is tight industry stag
| mates.
So our country should welcome ia
vorable balance of trade. and it should
welcome the American policy of protec-
ton, the only policy that has given US a
favorable balance in the past or will
| give it in the future.
strikes and Lockouts
| There was time when strikes were
| very rare indeed. 1t was when capital
owned labor and kept it in subsection
and on the verge of starvation. Slaves
can't strike.
Education and enlightenment taught
labor its own power, then it struck for
greater liberty.
J Greater liberty caused it to strike for
| greater pay.
With greater pay came increased OPP
| portunities for intellectual improve
ment, and organization followed.
| Now with united front workingmen
! pressed on for greater and even greater
concessions from their employers which
granted, feed their desire for more.
From the defensive they now take
the offensive, demanding instead of en-
treating.
That is the way they do in this coun
try, because here the laborer has beer
elevated to the plane of the capitalist
enjoying greater liberty and receivin !
higher wages than anywhere else or
earth.
1t is not so in other countries. In
India and China and Russia strikes ar,
even now as seldom heard of as they
were among the ancestors OF our Amer
lean workingmen 500 years ago, wher
they wore the collars OF their lords
Labor is too weak and servilc to strik
in those countries.
As we ascend the scale of cnliyhten
mcnt and liberty, we find labor organ
izations and labor disturbances becom
ing ever more and more frequent.
In Spain labor strikes sometimes Ii
Germany it strikes more frequently. Ii
France still more frequently.
Ii to better the condition of the work
ing people, to point the way to educa
ton. to greater liberty and independ
eucc. to foster and develop the geniu
for intelligent organization anon
them. and thus to lift, them from
position of servile dependence on thci
masters to plane of equality an
equal advantage with their employer
if TO do these things is to cause strike
and lockcuts, then does protectio
; caus, strikes and lockoutS But on n
uth.r possible assumption. - AMERICA
tocosaist