The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-26
THE BALANCE OF TRADE.

1t is only a year since Republican
papers were pointing derisively to the
paltry S23, 00O,O 900 of excess Of our ex-
ports over imports as another proof
conclusive Of Democratic imbecility
generally and specifically in tariff tin
to the excess of $2O2, 900, 900 in the espe-
cial year, 1892 as equally conclusive
of the capacity Of RepUblicanism, as
embodied in the Mckinley act, to pro-
duce conditions whereby we sold more
abroad than we bought there The ar
gument, thus based and left, seemed
irrefutable that, If the people wanted
prosperity again similar to that of 1892,
they must take good care to nominate
the Great Apostle Of Protection, who
was then posing as the Advance Agent
of Prosperity, only waiting orders from
the American people to dump prosper
tty upon them in a cloudburst
Another year has rolled around, with
its summary Of our sales and purchases
abroad, and our Republican friends are
so dumbfounded by the revelation made
that they are, for the most part, as
silent as Mckinley was on the money
question until after his nomination.
While the few that family speak are
trying to account for it on other
grounds than those Of their arguments
last year. 1t takes their breath away
that, under the present "free trade"
tariff, the mill-closing, labor beggaring.
panic-breeding, unspeakable tariff.
there is actually a larger balance of
trade in our favor than any year has
shown since the government kept ac-
counts Of its foreign trade. We sent
away our products to the amount Of
81, DOE, S78,417, home valuation, and i'm
ported merchandise to the amount of
$3.50, $4,000, valued at the port of ship
ment, leaving to our credit the unprec-
edented sum of 1925, 22,417.
What our views are as to this bal
ance of trade theory, and whether we
agree or differ with our fellow workers
N--o PLOoo 10
to any consideration of it from their
point of view. From that this balance
exceeding all others in our history, be-
comes a matter Of Importance which
they should not ignore at this time
when their committee of ways and
means is formulating a tariff to restore
rates under which the balance, In their
palmiest days, fell short Of two-thirds
or that produced under this condemned
Democratic tariff. The same logic that
supported demand for the restoration
Of McKinleyism because the tariff Of '94
was turning the balance of trade
against US demands that the law should
be retained, now that it surpasses the
act Of 1890 and all previous acts in the
size of its favorable balance. If under
1T the balance is over 1926. 900 900 this
year, may it not be, if the proportion
Of increase is maintained, $500. OOO. 900
next?
And, retaining the favorable-b balance
of-trade tariff, does it not open to the
NOAH4IiS administration a happy ESCAPE
from our financial and currency prob
lens? Instead of sending uncommis-
stoned Wolcotts abroad to feel about
for international bimetallic sentiment
or following them up with duly COM
missioned ENJOYS to hold solemn con-
ferences with representatives Of foreign
governments to restore silver to free
mintage, thus supplying that much
needed increase in our currency. it need
only enact that these balances shall be
paid in spot cash and lay an embargo
on trade until all the arrears Of bal
ances are duly paid, to food the whole
country knee-deep with glittering gold
We confess to a surprise that our Re-
publican editors and statesmen do not
see and seize the opportunity which
Democratic incapacity and laundering
has thus placed in their hands. Per-
haps, though, they do not believe their
own theory.
THE CANADIAN WAY.