Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1894-10-17


when, instead Of supplying the entire
home demand, they are to DIVIDE u
with half a dozen other nations, eaon
on tho basis Of the lowest paid labor In
the world. 1t is estimated that Wltn
the largest share of foreign trade OF al
the nations, trade that it has taken
her centuries to build up, q trade los
tered and contributed to by her colo
NAL dependencies in every quarter OF
the globe, the total exports OF Great
Britain amount to about ~, GOO, 0OO, oOOa
year. Our own run from quarter 70
half that amount now; but suppose tins
tearing down the barriers could make
us at once the equal of Great Britain In
our export trade. Grant that impossl-
BILE addition to our foreign business.
Now see what we would have to give
for it.
There are no statistics at hand by
which we could measure the inestna-
bic value to the American manufacturers
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 Tree
and uncalculated. The nearest approx
innate measure of this vast business is
the amount of clearing exchanges III the
country per annum. 1t will be seen at
once that this probably falls vastly be-
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 we'll 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 the clearing house, it will be
moderate enough.
The clearings of the United States
amount to from $50, 600, 600, 900 to $70,-
600, 900, 900 per year. The trade, then,
basis of Mr.. Wilson's proposition is the
exchange of $50, 900, 0OO,0 900, for $1,000
600 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 a banquet and tell
you how great and good you are. Part
of this performance has already been
cone 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 us.
Incompetency 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, $40, O56, 671. This was loss, as
compared with the same period one
year before, of $40, $50, 668, SOB. 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 1893 were
S38, 879, 727, I21. For the first eight
months of 1894 they Wore 500, 346, 522, 829,
loss in two-thirds of q year, with Mr..
Wilson's scheme in full view, of
SO, 533, 204, 1882.
The condition of the treasury Of the
United States today and the condition
of our domestic industries show the
same influences in full swing We are
paying very dearly for the breach made,
under Mr.. Wilson's lead, in the de-
lenses that surround our home market.
That we have not wholly lost it, that
the wolves have not killed all the sheep
in the fold, is due to the fact that not
even the Democratic Populist combina-
ton for free trade was allowed to do its
worst. 1t says that it will do worse if
the opportunity is given to it. What
that worst will be we can only picture
from what we have already endured.
The American people have a mightier
interest at stake in this election than
ever before. If they do not order a
right about face and return to the
Republican policy, by which we grew
great and prosperous, they viii deserve
that opinion which Mr.. Wilson himself
uttered as part Of that most remark
able speech of his in London, and which
we commend to the thoughtful consid-
Grafton Of every true American patriot.
"We are being rapidly sobered,
though unappa1led, by the truth forced
upon us that of all human governments
the free government is the most COM
pick and difficult, and, judging from
the wprld's experience, the most uncer-
4a;,, ,S SI,O,k 1ivod -