New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-03
CHAIRMAN WILSON'S ERROR.
lie DECLARES THAT INTERNATIONAL TRADE
IS BARTER SIMPLY.
STATISTICS SHOW. HOWEVER, TINT TIE UNITED
STATES PAID OFT $50 100000 IN GOLD FOR
IMPORTS UNDER A TARIFF SIMILAR TO
THE ONE MI. WILSON PROPOSES.


IMPORTS UNDER A TARIFF SIMILAR TO
THE ONE MI. WILSON PROPOSES
ley TELEGRAPH TO THE TnIBrSrl
Washington. Jan. 2.-Scme OF the Democratic
newspapers quote Chairman Wilson. OF the COM
mttee Ways and Means as saying IN reply
to a question az TO whether he thought the new
IN riff bill would make the balance of trade against
this country so large as to cause further serious
nroads upon the gold reserve OF the Treasury 'ha'
any ten years of the countrys history wou'u SHo"
that the balance of trade ran about even 1T IL 4
matter OF barter. anyway. he added the Dali
ances are not paid in gold but in exchange. There
need be no apprehension of depletion or the goid
reserve"
Chairman Wilson probably overlooked the period
OF thirteen years. from 1913 to 1860. when the
country was enjoying the blessings or such tarlh
az he now fayors In only one year during 'h''
period did the exports OF domestic merchandise eS-
coed the imports and the total adverse balance
for the other twelve years amounted to the snug
sum Of 500 600 600 or an average of s3J 900 900 year
In only one year during the same period did the
imports Of gold exceed tho exports, ana the 'o'ai
balance against the United States for the other
twelve years amounted to about siS3,VoVW, or an
average of more than s36,0o0W0 a year. In those
good old days 'befo' the Wah'' gold seems to have
figured TO n considerable extent In the settiefheh,
of balances between the United States and foreign
countries.
In reply to another question. Mr.. wilson saiu
that he regarded the condition OF the treasury as
serious and added: But the United states Is aDle
70 take care Of It's obligations. 1t is not that be
gold balance is below Sl0O0D.0O that need dis'uro
us but the shortness of the available cash to pay
current obligations" He had perhaps received IN
formation that the current expenditures during the
first six months OF this fiscal year nave eNceeueu
the revenues about 100000, making the deficit
for the first half the year greater than secretary
son seemed INCLINED 10 favor the plan OF ISSUING s
relief of the Treasury In conversation win
Tribune correspondent on this subject to-day, one
of the most prominent Republican members VI the
House Of REPRESENTATIVES said: .o =.
81 90 not see how can conscientousy vote to
Increase the public debt under the circumstances;
1t would be entirely different If any great national
emergency required IT, but do not now now f Zee an
issue Of bonds simply to aid The party In power 10
tustfes of the country There is doubt wha ever
in my mind that II the President would eau hait
business would Immediately revive. confidence re-
turn and the re, enues would soon Increase to an
expenditures OF the Government. As il is mat
tiers are steadily going from bad to worse In six
OF the ordinary expenditures. There IS loss OF
$4,000 for last month in reysnne alone IN S Ss
Treasury statement and that Is Just about equal equal
Than 100000 wage-earners. with two three times
many more persons dependent upon them i9i
support. out Of employment through no fault
of their own and private charity Is flowing through
myrads OF channels to keep them from freezing and
starving.
"Who can estimate the amount Of money and
food and clothing that must be contributed between
and April for this purpose? one OF the ROB
Der barons,' | see has pledged himself 70 give
destitute in Pittsburg alone provided the people
there will contribute equal amount lie VIII
give a thousand dollars for every thousand dollars
they contribute to the amount OF s%0.oW Not Only
that but he has ordered that ell his mills snail
run fun time. matter what may ne the loss,
throughout the winter He IS only man. and all
over the land men, women and children are giving
according to their means 70 furnish FOOD ana iuel
and clothing to people who are able and willin;
TO WORK to support themselves and their families but
for whom no work is ~ he had. Millions. nay. tens
pended for these objects during the next three
months Is IL strange. then that with 2,pJ.oD or
3 10000 self-supporting consumers suddenly trans
formed into who are not self-supporting.
but are objects of charity. the revenues from GUS
toms fall on? Such object lesson as the poor
consumers Of this country are receiving at the
hands OF the party in power has not been set
before them since the halcyon Free Trade days
before the war.
do not see my way clear to help the party in
power 10 protract this object lesson by giving my
vote In favor OF any proposition TO issue bonds
TO replenish the resources Of the Treasury until
and unless that party abandons its raid upon the
business and Industries of the country III the
Secretary of the Treasury wants authority 10 bor-
row money let him obtain IL from the members OF
his own party who control both branches of Con
gress They strong enough TO muster Il
quorum OF Democrats in both houses. and DO not
think they will receive any help from me-.