The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-12-18
4 QUESTION OF HISTORY,
SHALL WE GO DOWN-OR SHALL
WE GO Up?
How This Country Paid Its Foreign
Debts During the Civil War.

How Ih1S country TdIu us HOASi6H
Debts During the Civil War.
We have received the followin note:
Office of TIE WHITE BANNER.
J. L. SwITzER, Ed. & Prop
Altamont. Kan.
HON. IGNATIUs DONNELLY:
{. A question has been sprung here
concerning the immense import trade
Of this country during the late war.
AS the country had no specie now
were the imported goods paid Tor:
Win you kindly answer, either by caro-,
or in your excellent paper, THE REP
RESENTATIvE. The question is what
did England and other countries re-
ceive from this country for goods I'M
ported into this country during tine
war? Not the price but what KIND OF
money. Very respectfully yours,
J. L. SwITZER.
We are glad Mr.. Switzer asks US this
question. 1t is an important one.
During our civil war, as is we'll
known, we were not upon either
legal-tender paper-money basis. Ac-
cording 70 the arguments of the pres
emit howlers for metallic money. we
ought to have been the most wretch
ed set Of bankrupts on the face of
the earth. Instead of that this con-
wonderful era of growth and prosper
ity. immigration, which always
moves towards success, and shuns
misery, poured in at such rate that
we had more people at the end of the
war than we had at the beginning of
it, despite the vast numbers, North
and South, who were slain in battle
or died of disease; while the increase
Of wealth was in even greater ratio.
The exports of American manufac-
tured goods. to foreign countries, had
risen from $3l6, 242, 423 in 1860. the
year before the civil war broke out, to
1856, 2O8, 341, in 1870; while the exports
Of the products Of American agricul-
ture had increased. during the same
time from 1886, $50, 1872 to 1851, 1873, 4s3.
The value of the exports of bread
stuffs from this country to foreign
countries rose from $24, 900. 900 in 1850
to $54, 0UO,0 O in 1865; Of leaf tobacco
from SIG, 900. 900 in 1860 to $40, 900, 900
in 1865; and provisions, meats and
dairy products from 100000 in 1860
to $54, 900 900 in 1865. Here were $780,,
600, 900 dollars Of foreign imports paid
by three sets Of products OF agricul-
ture; while in 1865 our total imports
amounted to $24S, 555, 652, leaving but
$oS 900, 900 of dollars of imports to be
paid by cotton, sheep, cattle, hogs,
vegeta bles; to say nothing Of manu-
featured articles and the proceeds of
the mines and fisheries. And it must
be remem bered that all our agricul-
dinarily high prices; we remember
selling, ourself, large lot Of wheat of
our own raising, in 1893, at 1925 a
bushel How easy was it for the
debtor to get out of debt, aud become
free man, when he could sell wheat
for - bushel? How difficult for him
even to pay the interest on his debts
with wheat at 80 cents a bushel?
There is the 'nub'' of the whole con-
| flict.
The result was as Hugh McCulloch,
| Secretary of the Treasury, stated in
his report to Congress, the people
were practically out of debt and
everybody who wanted work was en-
ployed at good wages;-such thing
as tramp or mortgage on farm
was almost unknown, before 1873.
Well, our friend Switzer will ask,
were on gold basis, deal with a
country where gold was at $50 per
cent premium? We see by the above
figures that they did deal with us, and
bought our wheat, to the tune Of $54.-
100000 annually, even while it was
worth $3.50 per bushel in this co untry,
and worth only 81 per bushel on the
other side of the Atlantic.
Well,-one reason was if they want
ed TO deal with us they had to take
| what we had to give them-to wit our
products;-for we had neither silver
nor gold. Commerce is necessity of
| humanity, and will 60 wherever a
profit can be found.
| In the second place:-if an English
man had $1,000 in gold he could come
over here, during the war, and swap it
for s., 600 of our legal-te nder money:
and with that he could buy 1000
bushels of our wheat 1t 81. 60 per bushe |
and take it across the Atlantic, apd
sell it for $1,000 in gold, with enough
more to cover expenses. But COM
merce does not consist in taking mon
ey into country and taking products
QUIT is swapping of the prod ucts
of one nation for the products Of an
other. And SO our Englishman would
not come here with 81, 900 of gold, but
with 81 900 of manufactured English
goods, and these he would swap for
the 1000 bushels of wheat; and he
would make profit on his goods, and
probably profit on the wheat he
bought.
Now the whole world is rushing aft
er gold. BY the demonetization OF
silver it has been made the most
precious thing on all Gods green
earth. The Englshman, thereto re,
when he ships over his English goods
nowadays, says to our farmers: II
don't want your wheat can get all
need Of that ia our English prov
inces-India and Australia. Here!
| TIL al ~psvv M