The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1897-01-28
selves-that respectable man was
chosen.
The Republican party may be Old
now, but it is no longer grand. Its re-
turn to power is likely to be brief.
PrOaperifY.

IL peliluS u1OTe meTCuduulSc dDTOdu
than we buy means good times, then
we should &c more prosperous to-day
| than we ever have been ip our history
for our exports last year were greater
and twenty-five millions of dollars,
which Is fully twenty millions more
than Is shown by any previous year OF
which we have any record.
The exports during 1896 were alsc
absolutely greater than in any previous
year, being 81 1,O05, 100000, in round fig.
ures, as against $97O,OO0.OOO in 1891.
which is the next highest, the differ.
ence between the two being $35, ,0OO, 900
The imports, on the contrary, were less
than at any time In ten years past, with
the one exception OF two years ago
1S94-when they were only $4,000, ,OOO
below the record of 1896.
With these figures before us the ques-
tlon naturally arises whether the diff.
ference between the exports and i'm
ports has been paid to us or whether il
Is still due, and IL the latter, when and
how will 1t be turned over? The treas
ury statistics show that during the
year Of 1896 we received $4,000, ,00C
more than we parted with. Deducting
this amount from the excess Of mer
chandise exports there Is still balance
Of $279, 100000 unaccounted for.
1t would be interesting indeed to find
for certainty that foreign countries
owe us this much for merchandise to-
day, and will pay it to us in cash within
the next few months. The importation
of such a large amount of cash could
hardly help setting all our idle factories
and workshops going, and give us an
era Of prosperity as certainty.
The fact that our imports have dt
minished and our exports increased is
due either to the Wilson tariff, which
the Democratic party gave to the coun
try, or to causes that have a much
wider and deeper foundati than any
legislative act can have, or perhaps to
the two combined.
The Wilson tariff did one good thing
for American industry when it reduced
or abolished the duties on raw mate
rial. This gave our workingmen bet
ter chance to compete with those Of
other countries in the worlds markets,
and the result is unQuestiOnably an in
crease in our exports and decrease IN
our imports. We sell more abroad be-
cause we can do so more cheaply since
the imported raw material costs us less
than it did under the former Mckinley
bill, and we buy less because, for the
same reason Of having cheaper raw
materials, we can hold our own mar.
kets to greater extent against compel.
ing foreigners.
Combined with this advantage. for
which the Democratic party is alone
entitled to credit, Is the recent great
demand for our breadstuffs from the
countries in which the haryests are.
and have been, bad. Our exports OF
cotton, too, have been very large.
Thus legislation, which the Republi.
can party opposed, and which it in.
tends to sweep away at the earliest
opportunity, is responsible for at Ieas.
a partial increase in our exports, and
entirely for the decrease In imports,
while natural laws, which are indepen.
dent Of governmental action, have led
to the further growth of the export
figures.
That this large balance Of trade in
our favor ought to be conducive to our
prosperity Is not to be disputed if ordi.
nary business reasoning-which is also
the reasoning Of political economists.
Is correct. The nearly three hundred
millions of dollars still due us, accord.
ing to the treasury statistics, should
come to US in cash IL the current of
events Is not suddenly reversed Tha,
it will be at least partially reversed by
the re-enactmeut of the Mckinley tariff
is more than likely, and if 1t is then til.
Republican party will have to answe:
for the mischief.