The morning call., 1894-01-16
BoURKE CoCKRAN's SPEECH.

Ii misguided enterprise had not pre-
sented Bourke Cockran's recent speech in
the House on the Wilson tariff bill to the
public il might have been possible to
create the impression that Mr.. Cochran
had made the speech of the session. The
public had heard just enough of the Tam
many mem Der to listen to almost anything
he might say. 1t had been told how he
held the Chicago convention in kind of
daZe for three-quarters of an hour, from
which the members recovered in time TO
nominate for President the msn Mr..
Cochran had shown could not be elected
But this did not count against Mr.
Coekran's power as an orator. Standard
Oil Whitney had preceded Mr.. Cochran in
line OF argument in which Standard Oil
magnates are irresistible, and consequent
ly no one expected MIR. Cochran TO infiu-
ence the convention.
In his more recent speech Mir. Cochran
says he does not believe that the Wilson
bin will cause deficiency in the revenues
Such be asserts has not been the expert
ence with tariff reduction elsewhere. He
believes that the revenues of the Govern
ment will be increased by reduction in
the duties, which of course can only be
done by importing a larger part OF the
goods we consume. Mr.. Cochran may
therefore be classed as an advocate of Eu-
rOpean or Asiatic industries when they
come IN competition with American in-
dustries. His position in this respect is
made the more clear by the doubt he ex-
pressed as TO the principle of protection.
He processes not to understand the mean
ing of the word as applied to tariffs. He
has heard SO much of protection that he is,
tired of it. He assumes that il must be
bad because he is tired Of 1t. As the coun-
try has been under the protective policy
during the whole of Mr.. Coekran's public
life he has naturally heard a good deal
about it. But he is illogical in the as
sumption that because he has got tired of
protection the country would be better of
without it.
Dlr. Cochran ridic ules the idea that
coin balance in foreign trade is favorable
condition. If coin balance of $3.50, ,000, COO
is favorable condition, he says, a coin
balance of $1,000, 100000 would be even
better. In time We would have all the
money in the world. and consequently
there would be no one to trade with. We
should have to go out Of foreign trade be-
Mr.. Cochran might with as much plausi-
bility argue that if one dinner is a good
thing two would be better. If one suit of
clothes added to his comfort and appear
ance two suits would double the effect of
one. But Mr.. Cochran is true to his free
trade creed when he says:
Now l venture TO state here that as between
the importation Of money and the Importation
of goods / would rather for the general pros
perity Of the people have the importation OF
goods.
If this is sound doctrine it is little odd
that all Christendom should be engaged
in search for markets for their goods.
They find no trouble in getting rid OF their
money. but goods are piled up in ware
houses and production exceeds consump-
ton. There is not nation in the world
that would not rather have $3.50 0O0, 600 in
American gold coin than in American
goods. The spokesman of New York
importers states broadly his belief that
the true course is to bring from abroad
goods that you can obtain best and cheapest
in exchange for goods you can produce
best" This is the Golden theory adopted
in England only after England had put
herself in d position to supply the world
with finished goods at the lowest rates In
return for the worlds raw material. Tie
policy worked we'll for England. and will
work we'll for any country that can force
Itself into like position. But when has
a nation ever become rich or powerful by
producing raw material and buying
finished goods?