The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-04-26

4 8TABTLIS6 COyTRA9T.
II seems ~ n II were about time for the
| American people 10 profit . little By the
lessons they may learn from the policy Of
England. and turn their attention from
chfmerscai schemes TO q study of the COM
parative advantages Of . commercial pol
tcy whieh fosters our own industries and q
one which puts millions Of dollars into the
pockets Of foreign manufacturers. The
budget. - the English annual financial
statement IL called. shows . surplus for
1855 Of 81 500 the largest ever known
In the history Of England The chsnceilor
Of the sxchequer. In making this announce
msnt. addsd. - larger sum was devoted
to the reduction Of the British national
debt than ever bslers N . single ysar."
In the SANE time the United States has
addsd about iszao.po to it, bonded In
debtednsas and Is running behind 1T tbs
rate Of about s7o.ss 300 year.
We have frequently quoted from leading
English journals TO show the advantages
that country has derived from the opera
tion OF the Democratic tari6 tax. and.
while our press teens with the news Of
closed factories and the idleness Of Ameri-
can w0rkingmen. We ind abundant testi-
mony in the English newspapers to the
activity OF labor and the general prosper
ity Of that country. to whose great and ex-
cept.onal surplus we have % generously
contributed.
The London Financial News recently
contained the following jubilant state
ment:
THE lowering Of the American tariff has
been our salvation. and II cannot be said
that we have shown much reciprocity, for
instead OF taking the increased value OF
our shipments across the Atlantic In kind.
we seem to have bought less American
produce. II In needless to 30 beyond our
own Board OF Trade returns TO md an
explanation Of good deal OF the monetary
trouble In the United states."
One u the leading trade journals goes
a little more into detail and gives an In
stance Of the effect OF our departure from
tho policy Of shs Republican party:
The total gain for the nine months un-
der yarn and textile exports 70 fs.27s.s5s,
and a. the value Of wool tissues taken by
the United States has been about $4,000.
and az worsted tissues nearly f3.Oo0.ooo
greater than In 1894. no further search for
the origin OF the Improvement In the trade
returns need be made"
The promises held out to the American
people that by freely admitting English
goods to our markets We would enlarge
our European field for the disposal OF
American products have been badly shat
tered by disastrous experience. We have
shifted the distress experienced by English
manufacturers to our own shoulders a.
the following extr act from the Textile
Mercury. of Bradford. abundantly shows:
The enormous increase In the volume
OF Bradford exports to the United States
has formed the subject of frequent refer
ence In these columns The suffering caus-
cd In the Bradford district by the Mckinley
act was very great. but since the passing
of the German tariff manufacturers have
been able In q great measure to recoup
themselves for past losses. The enor-
nous exports Of Yorkshire goods to the
United States show that the Americans
are not In position to compete with US
even In their own markets. 1t was from
the American demand that Bradford first
felt the present exceptional wave Of pros
perity. No town suffered so keenly from
the imposition of the excessive rates under
the Mckinley act as Bradford. and none
has benefited SO much under the new
American tariff
Tho people Of England have ample rea-
sons for holding President Cleveland and
his generous policy in the highest estesm,
for. while American wooden mills were
shut down. the English mills were running
night and day. and the dividends of manu-
facturers were last year nearly double
those of any previous year In the history
OF the England wooden industry.
The London statist of January II, tho
leading paper of Its kind in that country.
very frankly comedies both the immense
advantages enjoyed by England and the
principal cause which has contributed to
that result. II says:
The cash value OF our imports IN 1885
was Eiis.es7 900. but at the 1880 level OF
prices the value would have been no less
than a7.ieo.ooo. The benefit to this coun.
try, therefore, from the fall In prices Of
foreign and colonial products In 1896 COM
pared with 1890 thus amounted to the enor-
nous sum OF SEQ. 100. 200. on the other hand.
our exports IN 1896 were OF the cash value
OF only Es,6. lss 900. whereas at the prices
OF i1o. the value would have been fe67.
eoe.en. thus entaiiing a loss Of gu So 900
due 10 the fall In prices. On balance there
fore. thu fall In prices In 1895 compared
with 1890 gave n profit 10 this country
amounting to about fse.oce CO.,"
Our own returns confirm all that the En-
glish papers say. The imports Of wool dur
Ing twelve months ending with February
amounted TO 20. s2s 500 pounds. a auantity
materially greater than has ever been i'm
ported In any previous year. and probably
exceeding the entire production OF Amer
lean wool this year. The number OF sheep.
according 20 the statement OF the agri-
cultural department. was last January
1875 per cent smaller than In 1888, and II
there had been corresponding decrease In
the production Of wool the clip this year
would be only g. .css, pounds.
In spite of ali these glarIng facts. how
absurd II seems that instead OF deyotinr
cur Intelligence and energy 20 as quickly
as possible receting from our mistake and
restoring prosperity TO our despl.ring neo-
ple we are fri,ter;ns away valuable time
IN efforts 10 apply a financial system which
would still further reduce the purchasing
power Of the wages o. our workiagmen
by paying them In a deprecated money
metal and stun further harassiaS indus
trial enterprise by risking a serious con-