The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-05-02

Their Democrstic Papers,
Paradoxical as A may seem 10 those imbued
with tho false mercantile theory. there can
be no real prosperity IN any nations for
imports exceed IN value or productiveness
the exporfs-i. g.. when there n an 'ad-
verse balance Of trade" (so-calied).-N. X.
Herald.
OF course this Is one Of James Gordon
BENEFITS attacksupon American labor
and industries. No other newspaper on
earth would publish any such stuff.
much less refer TO England, "now the
wealthiest nation on the globe" in corr
roboration OF the ''undisputed fact"
In the first place, England Is not "the
wealthiest nation on the globe" Ac-
cording TO Mulhall, "the United States
occupies the first place" with fi2.s24.-
ooo. 900 OF wealth against only f9,4oo.-
ooo. 900 for the United Kingdom. But
Bennett, perhaps, knows more than
Mulhall. He should give 70 the world
new dictionary of statistics. Then we
could make the country ring with
them"
III Bennett started any such trade
theories In England. IL is no wonder that
the life OF the London editor OF the
New York Herald was so bHef. Fore
warned is forearmed. Englishmen are
not fools, as n race, whatever else they
may be. But they made fool OF Will
son, just as surely as Paris Is progress
ing In the same direction with Bennett.
III an excess OF imports makes coun-
try wealthy. why Is IL that British pa
pers, especially the London Economist,
are congratulating the English people
because last Junuary's exports from the
United Kingdomwere 16 per cent. larger
than in January. 1895? Why il il that.
In speaking OF decrease in their inn
ports OF raw cotton. they say that "the
entire burden fell upon the United
States?, II BENEFITS theory were the
correct one--that .the import il really
the goose that lays the golden eggs"
then England Is 10 be pitied for losing
some OF "the golden eggs" But Eng
land pities us. the exporter, snying that
''the entire burden fell upon the United
States" Why? Because we sold less.
Again, the british papers refer to the
excellent increase of & 10.345.000 in
their exports 10 iii countries during
1895. showing that f9.199.000 OF the
amount was due TO the low democratic
tariff that we now have in the United
States. Over 90 per cent. of their en-
larged shipments were made to this
country, and they are glad Of it. They
are not clamoring for more imports.
When they decline "the entire burden
falls upon the United States. They
don't transact business on theory, but
on hard pan, bedrock, pounds, shill-
ings and pence basis. We're IL other
wise, the English papers would not say
that the United Kingdom has ''at last
entered upon period of fresh activity
in trade" and that "the entire burden"
of it's smaller imports falls upon the
United States.
Bennett should open q school for eco
Monies. We doubt. though, whether IL
would be as successful as his school for
scandal. He Is anxious to teach the
theories of economics, and says there
should be a campaign of education on
this exceedingly important matter"
Go ahead with the campaign" IL is
amusing. But don't tell us how rich
the British trade is getting when he inn
ports more than he exports. At least
don't do IL when he is rejoicing because
his trade is directly the opposite.
Wait little, till he has got over his
early enthusiasm and has stopped say
ing that 1.-THE entire burden" of his
lighter imports, falls upon the United
States" England Is not cackling and
Growing because she Is losing ''the
golden eggs" 90 trade. Not much,
'paradoxical as II may SEEM" Eng
land Is wise. And BENEFITS paper
well, otherwise.