Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-08-16
nUM8uGGsD BY REPUBLICANS.

The Nations Expensive Trial Of High
Tariff Protection.
The republican platform of 1888,
adopted at time when there was a
surplus in the treasury, declared in
favor of tariff high enough to check
importatiOns as a means of reducing
the surplus. The Mckinley law was
declared to be III accord with this plat
form, but for time imports increased
instead Of decreased. In the course of
a few years, however, with the aid of
other republican legislation, the de-
sired decrease of dutiable imports was
brought about.
For the fiscal year ended June 30,
1894. our imports amounted to 1884,
s35,s73, against 1886, 400, 922 for. the
year 1898, a decrease of 1912 200. OOO
On the other hand, our exports in
creased from Ss47, OOO, 900 to Ss92, OOO,-
900. Last year the balance of trade
was against us. as the phrase is, by
s19, 100000. This year it is 1921, 900, 900
in our favor-that is, our exports ex-
coed our imports by that amount.
1t will be noted that the last fiscal
year was eminently republican year.
We do not now refer to the circum-
stance that the elections went in IA
vor of the republicans, but to the fact
that economic conditions were in &C
cordance with their policy. They be-
lieve in checking imports, and they
were certainly checked in the last fis-
cal year. They believe in increasing
our exports, and they were increased.
They believe in a large balance of
trade, that is, an excess of exports
over imports, and the balance last
year was exceedingly large. Accord
ing to the republican theory, the ifs
cal year 1884 was an ideal year. 1t
marked the complete success of the
Mckinley bill in checking importa-
lions. and it happened, besides, that
exports were not decreased.
Still the republicans are not happy.
Instead of pointing with pride to the
fact that the Mckinley bill had at last
accomplished the purpose for which it
was intended, they have the temerity
to say that the condition of our trade
is the result of our having democratic
administration. They know when
they say this that the tariff has not
been changed, and that there has been
no tariff for revenue only before the
present congress. They ought to hail
the existing conditions as the result
Of the legislation which they passed in
furtherance of the condition which
now confronts US.
1t would be uncandid. however, if
we did not admit that in one point our
foreign trade last year failed to CORE
spond with republican theories. 1t is
always maintained by them in tariff
discussion that trade balances are in
simultaneously settled in gold. If we
buy $1,000 worth of goods in Eng
land" they say, I'VE get $1,000 worth
of goods and England 81 200 in gold; if
we buy 1000 worth Of goods at home.
we have both the goods and the gold"
According to this logic we should have
imported during the last fiscal year
1921, 100000 more gold than we ex-
ported. Instead of that we exported
a few millions more than we imported.
There is evidently something wrong
about this gold theory. There is also
ton that checking importations, even
if there be no decrease in exports, is
an invaluable sign of prosperity.
Brushing aside the humbug that fas
been thrown around the subject of
foreign trade, we may discern without
much difficulty the true principles that
underlie it. In normal conditions ex-
ports are exchanged for imports. and
the large volume Of each is indicative
of prosperity, because it makes an ex-
change of products profitable to both
parties. But last years conditions
were abnormal. Our imports fell off
because we were compelled to use more
than one-fourth of our exports to pay
debts incurred during the artificial
prosperity of previous years. Our inn
ports, therefore, were small, and indi-
Gated not prosperity, but our want of
ability to buy. We were paying for
the grand debauch into which repub
lican legislation plunged the country.
Louisville Courier-Journal.