The herald., 1896-01-02
of the question will send
chill of horror along the spinal

OF the question will send q
chill of horror along the spinal
column of the average pro-
tectionist. This vii. not be because the
view is wrong, but because the protec-
tionist's mind is inaccessible to the real
reasons why people do and should
trade. The only reason why men dig
for gold is that when they get it they
can exchange for something else. They
do not need the gold for itself but they
do need the something else, aud when
the American people exchange the gold
which thev produce in abundance for
the wool that they do not produce at
all, they have negotiated most salts
factory transaction. They have accom-
plished q most important purpose.
They cannot make gold into clothing.
they can wool.
The financial difficulties that beset
the treasury of the United States are
not because we are wrongfully export
ing gold, but because of the wrongful
way that it is being obtained for ex-
port. The treasury officials are en-
barrassed, not because gold goes out of
the country to pay obligations, but be-
cause it goes out of the United States
treasury instead of the vaults of pri-
vate parties.
We have financial system which
requires the maintenance of a substan-
tial gold reserve, but which in its
operation makes the maintenance of
that reserve precarious, uncertain, and
under certain trade oonditions-nat-
ural and proper in themselves-abso-
lutely impossible. A system which
enables the party desiring gold to come
to the treasury of the United States
for it instead of going as he would have
to for any other commodity, into the
markets of the world, and buying.
With the notes that are continuously
redeemed and never paid the United
States government is forced into the
business of dealing in gold for the
benefit of exporters and the exporta-
ton Of gold is given an air of menace
to the prosperity Of the country that
in no way pertains to it naturally. The
procuring of it from the government.
It ia immsterial to the treasury whether
the Withdrawals are for foreign or
domestic use, the effects on the specie
reserve of the government are the
same. The remedy is not in tariff, but
financial legislation.
Senator Mitchell's statement that
the American wool growers have lost
100000 by the tariff measure now in
force, is made for buncomb effect. He
knows, if he knows anything about the
wool business in the United States,
that the price of American wool
reached the lowest point ever known
under the Mckinley tariff and that
since the enactment of the present
tariff it has substantially advanced.
That the wool industry is not as pros
porous as it might be is true, but the
tariffs that are responsible for this
lack of prosperity are those which ante
dated the present law.
By keeping out foreign wools the
former tariffs lessened the demand for
the domestic article, for mixture of
the two is essential in the manufactur-
ing Of the better grades of woolen
goods. As result of the enhanced
cost Of wooden goods made by the
tariffs previous to that Of 1894, shoddy
has come into general use as substi-
tute for wool; it is furnished at one
half or less of the cost of the other,
looks equally good when new and wears
sufficiently to satisfy the people who
cannot or will not pay the higher price
for wool. When people decide to give
up the patronage of shoddy, and there
are excellent hygenic reasons why they
should, or when wooden manufactures
are cheapened nearly or quite to the
point of shoddy goods, the wool rails
ing industry may enjoy the greater
prosperity that comes with increased
domop1