The great West. [volume] (St. Paul, Minn.) 1889-18??, 1892-07-15
JERRY SIMPSON.
Continued from Third Page. :

telegraph company testified that we
owed foreign countries 81. 600. 600. 600
on which we were paying about $50. ;
000 900 year.
Mr. Simpson-This is what we pay
Great Britain. According to the table
published in the Journal e-fourth
Of the foreign investments by English
capitalists are made in the United
Statea and it follows that we paw to
Great Britain alone sixty millions as
annual interest on our large debt
This condition of things is so far
from showing any signs OF change
that it threatens to become perma-
nent.'
The foreign investments of English
capitalists are reported to have in
creased so per cent in volume since
1850. Robert Giffen. England's great
est statistical authority. estimates
them at five thousand million The
inference is that England now has
from fifteen to eighteen hundred mil
lions in American investments and
that she actually levies to-day tax
upon the incomes derived by her citi-
zens through American investments
more than ten times greater than that
other historic tax which she once at.
tempted to impose upon the colonies
Now. Mr. Chairman. that shows
where the surplus of this country is
going. That shows where the stream
of wealth that the laborers and pro-
ducers of this country are creating is
flowing to. England has adopted this
policy. that comes by free trade
When she sends out a shipload OF
goods to any foreign country she en-
deavors to trade it off for shipload
of goods that is worth more than the
one she sent out She has based her
policy upon this principle. that a
nation gets richer and gathers more
wealth by bringing goods into her ter
ritory instead of sending goods out
and when she sends out a shipioad of
goods it is sent out on the principle
that she must get another shipload of
goods that is worth more than the one
that she sent out
1t is by pursuing this policy that
England has been able to gather to
her shores a great part OF the wealth
Of the world. that she is trading all
over the world; her ships are found
in every port and she has become the
mistress Of the world because she has
adopted this true policy of trade
while we who have adopted the pro-
tective tariff and are sending out
more wealth than we bring in. are
laying up loss every year. that will
account for the sixty odd millions in
gold that went abroad in the last
year. and that have failed to come
back. We are sending steady stream
of wealth out of this country instead
OF bringing it in. What we want
gentlemen. is more goods. We want
to trade for things that we need; and
in opposition to what my friend from
Michigan MIR. Burrows] says. in
stead of calamity coming from flood
OF good things apprehend that what
we want is to have the world flood as
with good things
Did you ever hear of any country
sending things into another country
when she did not take something out
in return? During the arguments on
the silver bill we heard from the Re-
publicans and the Democrats both
because they are a unit on that
question so to speak-that great
danger would come to us from European
nations flooding this country with
silver. They were going to send
silver into our country. l said Let
1t come" 1t is not reasonable to
suppose they will give us silver for
nothing. apprehend that when they
send silver they will take our surplus
wheat and corn and cotton in pay for
it; and taking our surplus out will
increase the wealth of this country.
because they will leave some of the
things that we want and that will be
OF great value to us Our debts are
payable in dollars not 10 cent corn
and cent cotton.
The same thing is true of other
countries. If they bring in their
goods here it is evident that they are
not going to give them to us for
nothing; and in exchanging them they
must take out such things as wheat
corn and cotton; and having large
surplus Of these goods they are the
things we want to get rid OF and the
goods they have are the ones we want
My friend from Michigan Mr..
Burrows] says if we were to tear down
this protective wall it would flood us
with Disaster Why gentlemen it
would be about as reasonable to sup.
pose that the Israelites when they
were wandering in the wilderness.
would have rooted themselves over
for fear the mama would fall upon
them to sustain them Laughter. |
This protective tariff wall that the
gentleman speaks of is keeping good
things out and not bad thinga The wall
that he spoke about l remember has
been compared with that great wall
the patient Dutchman built around
Holland to reclaim it from the ocean.
The Hollanders devote certain mum.
Der OF days every year to repairing
the dikea With his willow basket
filed with sand he repairs it and puts
back all the earth that has been re-.
moved. So he watches and guards
against the tyrant that Is continually
wearing down the wall TO reclaim the
4 l. u