The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-30
The Demonstration of Prosperity.

The foreign trade OF the United States for
the last fiscal year, ending with june as
shown in q quotation we made yesterday
from the journal of Commerce. was the most
remarkable in our history. The total Of
our exports exceeded twelve hundred mil
lions. 1t was less than the aggregate for tho
fiscal year Of 1898 by about six million dol
lars. owing to a decrease in the value OF our
agricultural expectations, but that de-
ficency was nearly made up by all increase
OF exports OF manufactures from $500, 697,-
354 in 1913 to $33s, 667,794 in 1899.
1t Is not surprising that Mr. WILLIAM r.
GRACE, probably representing many Demo-
Gratis OF practical business experience, is
reported to have acknowledged publicly
that 'in the light Of recent events" he has
completely changed the views which led
him to support 81 the tariff views expressed
by MIR. CLEVELAND In his famous message, I"
so that now he sees clearly THAT the amaz-
Ing growth in all that makes for per-
manently prosperous conditions and in all
influences that have so recently established
the United States as a flrst-class power
among the nations OF the world, not only
politically, but also financially and COM
the policy OF protection" The opposition
to the protective policy to which Mr..
GRACE yielded so long has really never
been more than academic in this country
unless formerly in the agricultural South
1t was generated in the college lecture
rooms of theoretical professors OF political
economy. II was never successful outside
In the practical world OF America, and never
had any chance Of succeeding.
The Democratic party in 1892, 1t Is true.
professed to adopt this academic theory
| and pledged itself to the overthrow Of
Republican protection as a fraud, rob-
berry OF the great ma ority OF the Amer
lean people for the benefit of the few"
and even went SO far as to declare in
Its platform that it is "a fundamental prin-
ciple of the Democratic party that the
Federal Government has no constitutional
power to impose and collect tariff duties
except for the purpose OF revenue only"
That was very brave utterance, but as
soon as the Democratic party got into
power at Washington it proceeded itself
to make distinctivcly protective tariff
though in bungling fashion, which caused
great distress to business
That was the end OF the academic theory
of free trade for the Democracy. The party
platform In 1896 substantially dropped it,
Some embers OF the old discussion are still
famed by callow newspaper philosophers
in feeble way, but it is bygone ISSUE
and the reason must be apparent to every
one who read the astonishing tale of
national progress told by the table OF our
exports which we copied Yesterday from
the Journd! Of Commerce. 1t has been
quenched by the emphatic demonstration
OF accomplished facts.
The record OF more than twelve hundred
millions OF domestic exports in each OF the
years 1898 and 1890, including nearly
six hundred and thirty millions OF manu-
features only in the two years, Is the more
remarkable because that period was marked
by war with foreign power and the in
cidcntal necessity Of maintaining our au-
thority in conquered territory. The years
OF the greatest foreign trade ever expert
enced in this country were coincident with
foreign war waged by us. We published
yesterday, also dispatches from Chicago,
Detroit, Buffalo and Baltimore showing
that so great is the volume Of business at
present that none Of the railroads Is able
to furnish enough freight cars to carry it.
Unprecedented prosperity extends through