Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-08-10
MAJOR DOOLEY'S LETTER.
Observations Thereon by One
Who Dissents from His Views.

1t is an old and Title saying tnas III
the multitude OF counsellors there is
wisdom" but il in the multitude OF
those who are now offering the Presi-
dent their advice as to the means to be
taken to lift the country out OF the pres.
ent crisis there are many who hold and
express the same views as your corre-
spondent, Major Dooley, l ain strongly
Of opinion (if tEeir advice be acted on)
instead OF the country being relieved 1t
must sink deeper and deeper into the
"slough of despond." 49,.
AS 1 read and understand Major
Dooley's article it simply points to pro.
lection as the remedy for our present
ills. II singles out the one feature OF
the Mckinley law, which the astuteness
of MIR. Blaine introduced to save 1t
from utter and absolute badness, to
poiont the argument and direct the way
to relief. Whilst / do not advocate or
admire the principle OF reciprocity, yet
| do think that Lord Plsyiair was right
when, in answer to Mr.. Blaine's inquiry
rs 10 what he thought of the reciprocity
clauses of the Mckinley bill, he re-
piled: "They are the safety-valye,
which will prevent the protection
boiler from bursting, but they will
equally with protection disappoint you
/ in their working" This Is the one fea-
ture which has always distinguished the
working of reciprocity treaties. They
! always fail to r6cfprooate. Whilst pro-
T tectiye laws never or seldom fail to induce
retaliation, reciprocity never yet has Sc
cured reciprocity. Commerce declines
to be thus bound. 1t will take the best
terms offered and seek its reward by
making the best bargainsit con, wherever
they are to be found. In word,
| II is business and not sentiment that
governs commercial relations between
nations as between individuals.
Brazil has availed herself of the OPP
portunity afforded by the reciprocity
clauses TO sell her goods in this country,
but when she needed to purchase she
turned to that country where she could
buy the cheapest The protection
clauses OF the same act, which, by ITS
reciprocity clauses. permitted her to sell
here to her advantage, prohibited her
from buying here also to her advantage,
and hence she demanded money
and not goods in exchange.
Free trade only can secure re'
ciprocal advantages. Whilst for these
and other reasons / do not believe
that either reciprocity or protection or
| free trade alone can give us the relief
needed, want to point out the fallacy
of the conclusion drawn by Malo
Dooiey that the consequence OF this de-
mand for money instead of goods is the
cause of our crisis. He maintains that
unless the course Of trade between ma
tious is so ordered and controlled as
that the so-called balance OF trade is in
! favor OF q nation that nation must be-
come poorer and involved in difficulty.
If this conclusion is sound then what
must be the condition OF England !!
Ever since the introduction OF
free trade into that country, or
at least during The last twenty-five
! wears. the balance OF trade as shown
by the official returns OF imports and
exports has been against England. l
have only by me the returns for 1891 and
1892, but they are sample Of what has
been the position for years past, tho
aggregate amount of trade differing, OF
course, each year, but the same feature
of an excess OF imports over exports oil
WAYS appearing. In 1891 the imports
into England were valued at f435, 69l,
279. whilst the exports were valued at
e2l7, 235, 100. In 1892 the imports were
valued at 9423, 1921 whilst the ex-
ports were valued ut 9227, 060, 224. The
imports, therefore, in these two years
were nearly twice as large as the ex-
ports. In June OF the present year the
imports were Of the value OF f36, 49,
000, whilst the exports were OF the value
only OF fl7,s22, 900. These figures are,
as / have before said, not abnormal but
only a sample of what the Board oil
Trade returns, il l had them at hand,
would show for at least twenty-five
years past.
And yet In the face OF these results,
England. since the introduction OF free
trade. which has rendered such condi-
tions possible. has grown in wealth in q
greater ratio than any other nation and
the condition OF her people in every.
thing which bespeaks prosperity and
comfort is unparalleled. The value oil
labor has increased, the cost OF living
has decreased, and wealth has been &C.
cumulated by every class. In 1883
the total trade incomes assessed 70
the income tax was f279, IVA, 1877. In
1891 the total was E351, 590.69l The
savings banks official returns for June,
1898. show that the working classes OF
England have now deposited in those
Institutions the snm Of El21, 2l4, 6Sl,
and in addition TO this vast amount have
millions of pounds sterling invested IN
buildino and investment societies, one
society alone, The Birkbeck. having,
see. over E5, 600, 600 deposited with Il
These incomes and savings, 1t should
be borne in mind, are those OF o popu'
lation not half SO largo as the popula-
ton of this country. How, IN the face
of such results as these, II can be con
tended that only policy which tends tt
induce the accumulation Of balance
on imports and exports in favor OF
nation can lead to prosperity in that ma
ton I fail to sea The truth OF the
matter is that only policy which tendl
to make OF Q nation the great market
place OF the world in which and through
which passes the greatest total volume
of trade, imports and exports com
bjned. can result In the ultimate wealth
of that nation and the comfort anS
prosperity OF its people, and nc
policy but q free-trade one Car
secure this End. Such o policy
las thjs, however. can never 81
initiated or carried TO fruition unles'
based on q sound financial policy with
standard OF value Of universal accept
ance md Of stable character. Here \
where this country has JAILED u !hs ont q