The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1894-10-18

had bssa- sfvse 10 The textile industry.
With thseo advaltagos Nleady real
lied and others 20 accrue with the CON.
tinuous brsaking down Of tariff walls.
MI. Wilson had earned his banquet.
wlseas Plaa would Bri.g Disastsrs
Let us look at his statementint tho cold
hard light 81 facts. England, France.
Germany. Italy. every ono Of the lead.
ing European nations is organised indus
trially, as We are ourselves, Tor q
larger production than home consump-
ton requires. Each Of them is an ag-
gressive competitor for outside custom
fer its manufacturing interests.
This is the race for which Mr.. Wilson
would have us strip and enter, and at
what cost? What is the price that we
are to pay upon the freetrader's own as.
sumption. for this doubtful advantage!
1t is nothing less than the throwing
open Of our own home market to these
ravenous wolves of the older world.
Not Much Business Sense In This.
In one of his speeches, Mr.. Wilson
himself states that the productive
agencies of the United States could sup
ply all its home needs in six months.
If we could do that unaided; il our fac
tories supplying the entire home de-
mand would be idle half the year, how
much of the time will they be running
when. instead Of supplying the entire
home demand, they are to divide 1t
with half dozen other nations, each
on the basis of the lowest paid labor in
the world. 1t is estimated that with
the largest share Of foreign trade OF all
the nations, o trade that it has taken
her centuries to build up, trade fos'
tered and contributed to by her colo
NAL dependencies in every quarter OF
the globe, the total exports Of Great
Britain amount to about q, OO0, 900, 900 =
year. Our own run from q quarter to
half that amount now; but suppose this
tearing down the barriers could make
Us at once tho equal of Great Britain in
our export trade. Grant that impossi-
bic addition to our foreign business.
Now sec what we would have to give
for it.
There are no statistics at hand by
which we could measure the inestima-
BILE value to the American manufacturer
and the American workingman OF the
home market.
OF the great majority of commercial
transactions that take place between
individuals and corporal ons over our
vast area, there exists no record. For.
eign trade is measured at the ports Of
entry and exit. Domestic trade is free
and uncalculated. The nearest approx
innate measure of this vast business is
the amount of clearing exchanges in the
country per annum. 1t will be seen at
once that this probably falls vastly b.
low the actual total of business done.
Only checks and drafts go through the
clearing house and this leaves out of all
account the enormous volume of cash
transactions. as well as that of credit
transactions, which are settled without
going through the banks. If we say
that that portion of the clearing house
returns which cover mere speculative
transactions is balanced by the real
business transactions which do not go
through tho clearing house, it will be
moderate enough.
The clearings Of the United States
amount to from $50, 600. 0o0, 900 to &c.
OOO, 00O, 900 per year. The trade, then,
which we offer to other nations, on the
basis of Mr.. Wilson's proposition is the
exchange of $50. 600. 000, 900, for $1,00o,-
900 to 81, 500, 600 at the highest estimate.
1t is no wonder that when you pro-
pose that kind of bargain to set Of
men, they offer you q banquet and tell
you how great and good you are. Part
of this performance has already been
gone through with. While this new
tariff bill was getting into shape, we
were losing business every day. This
home market Of ours was practically
paralyzed and given over, if not this
time to John Bull. at least to the evil
genius of commercial depression. Let
us see what it cost u.s.
Incompetenoy Comes High.
From April, 1898, to January, 1894,
the first 10 months of the administra-
ton governed by Mr.. Wilson's idea, the
clearings of the United States were
81, $50, O56, 671. This was a loss, as
compared with the same period one
year before, of $40, $50, 66s, 1858. That is
to say, in the first 10 months when the
people began to realize that the barrier
breaking process was about to begin,
our home market suffered to the extent
of five times the total annual exports
of Great Britain, or five times the
amount that we could hope to do,
if Mr.. Wilson's glowing antici-
pations were realized. This year
it has been worse. The clearings for
the first eight months of 1898 were
$38, $40, 727, 12l. For the first eight
months of 1894 they were $29, 346, 522, 1929,
q loss in two.thirds of q year, with Mr..
Wilson's scheme in full view, of
49, 533 2O4 1882