The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-30
SOME SENSIBLE TALK.

SOME SENSIBLE TALK
We take from the New York Journal OF
Commerce the following account Of
speech made by Mr.. Eddy. of the hrm
Of Flint, Eddy < Co, Of New York, AT
meeting Of the National Association oil
American Manufacturers. 1t IS some
time since we have seen more SOUND
sense condensed into a brief space:
The speech which Mr.. Eddy, Of Flint
r6dv A. Co. made 10 the National As
ISOLATION OF American Manufacturers last
yysek was not the sort of thing they are
in the habit of hearing, but il was SOUND
business sense. nevertheless. ms as
ISOLATION was organized for the ostehsloie
purpo,e Of promoting all interests OF
manufacturers, but it had no sooner pve"
termed than IL gave evidence or being
one more high tariff society, All interests
except the interest in more pIo'ectio.'
disappearing from view. Mr. Euuy poii''-
Cd oi,t 10 the association that the ehtlle
home market could he supplied py our
existing manufacturing plants III SiA
roonths and if our mills are TO be kept
bnsv we must have an export uaue' VI
course we cannot make prices low eho"e"
IN colnpete In foreign markets. il we "'e
unable TO hold our home market Wlllo"'
H. r,.otection Of high duties but the very
considerable amount OF exports OF MANU-
featured goods now going out OF tle
country is evidence that the need OF PiO-
lection is oVer-ratcd. and wherc .he pr
,ection falls upon the materials OF manu-
s,.tnro IL is a dead weight on produc-
lion for either the home or the foreign
market Mr.. Eddy said that III raw ma
terials our resources are greater tldn
those of any other country. fuel ana
vater-power are cheaper mere IMAM anS
,,.ra-o else Labor. though more hghly
Maid is more intelligent ana more ,in-
Gent. our ability to compete Win o'hel
nations is shown by the steady grown Oh
t,o evnorts Of manufactures. Mr.. EDDY
enole al length OF the importance OF IN
ternational banking facilities, If an tx
rort trade is to be built up. The great
eVnort trade OF England has been puliI
nm hv the gradual accumulation Oh
,,,eaitb much Of which is engaged I'D III
ternational banking. and by the extensive
r,a,itime interests which have grown
nm because England offered so little OPP
nortunity for investment ana enterprise
ON land. for the last half-century 'hese
great factors have been reinforced py 'he
,olicv of free commerce. cheapening pro-
drction. and affording foreign nations IN
ducements to trade with England. ne
onnrebension lest. I'm reaching out Tor
foroion markets. we should lose the nome
market. is the result Of a singular con-
fusion of ideas. We cannot gam loieish
markets unless we can andersen lhose
who now control those markets. ana II
we can undersell them abroad. we can
az course. undersel them at our Owl
doors.
How plain all this ought 10 be to all
men who will only pause and think no"
can we hope TO sell in foreign markets
unless we can undersel other people
there And what is the good of all
the vast manufacturing plants that we
have. unless we can sell abroad Ihey
can manufacture everything this country
will take in six months Of the year.
What are they going TO do during the
other six months? They must manufac-
ture for foreign markets, or stand idle.
But. If they can manufacture cheaDly
enough to sell in foreign markets. then
protection is Of no good 10 them, unless
upon the theory that they viii sell
abroad at a lbss. and make up that loss
out of what protection enables them 10
couge out of Americans. That would
trulv he a nice foundation for an eco
nomical system. The case amounts then,
10 this-that protection has stimulated an
enormous manufacturing system that
lives half the year by forcing all the rest
of us to pay much more for what We ouy
than we ought TO have to pay, and that
is idle the rest OF the year. II there is
any occasion for protection at all. The
whole system rests upon a rotten foun-
dalton.
The undoubtcd fact is that it is the
natural right of all men 10 buy what
ever they want wherever they please. and
at the lowest price at which II is any
where offered, and it is a tyrannical
abuse of power for government TO inter-
fere needlessly with this right, and enact
laws that abridge it. When the Govern
ment holds its hands of natural laws
assert themselves. and each country Sc
cures that part Of general trade that il
Is entitled TO. We might never rival
the French in producing and marketing
wines, because their soil and climate are
better adapted TO It than ours. The
Parsians, too, may always lead us in
making ladies bonnets and ornamenting
dress goods. But in many things, we
would lead every other part OF the globe
For instance VIC are now exporting furnl-
ture to all parts OF the world. We have
the timber out Of which TO manufacture
1t in the greatest abundance, We have
tho greatest superdutty. At GaAl-. md While