Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1900-09-07
s7ss, 1892, ,5e2 for the year ended June 30,

$793, 1892, ,592 for the year ended June 80,
1895, to 81. .394, 1S6, 81 for the year ended
June go, 1900. constitutes one OF the most
significant features of the prosperity
movement. During the three years of
Republican rule the balance of trade
grew to be $1,4S3, ,537 ,O94 favoring this
country.
This expansion deserves to be studied,
not only because of its plain showing of
millions and millions Of dollars increased
wealth to this country during the last
four years, but also because of its in
structive relation to the many and di-
verse political theories which have been
loose from time to time among the Amer
lean people, especially among some col
lege professors who in the seclusion OF
their studies think too much, and know
by actual experience of the world too lit
tie, and by men like Bryan, who think
too little.
The free trade school Of thought theor-
lies on the equilibrium of International
exchanges. 1t reasons that II one nation
adopts protective tariff, it will cut down
imports, but that this will be balanced by
loss in volume of exports on the clear
enough principle that nations, like indi-
viduals, cannot long continue to buy from
customers to whom they cannot sell.
If exports Of merchandise do not fall
off with imports, the reasoning concludes,
then there must at least be balancing
outward movement of gold which may
disorder home money markets. Some free
traders also indulge in the peculiar the
orizing that by hindering imports we him
der property wealth from coming to US,
and that by not also hindering it from
being exported from us, we steadily grow
poorer.
Projections Part in Prosperity.
The prosperity experience of the last
four years has shown that n protective
tariff, wisely applied, can without ques-
ton be means of enriching great ma
ton like our own. The passage of the
Dingley bill was the direct means Of re-
storing prosperity to a large number of
industries in this country, which, under
the Wilson law, could not compete ia The
home markets with Europe. Given pro-
lection in their home market, these indus
tries were enabled to pay attention to for
eign markets. The protected iron and
steel industry gained so vastly in power
and strength that it became the aston
ishing wonder and dread Of the Industrial
communities of the world. How Ameri-
can engines became used on the railroads
Of England because they were better
cheaper and could be made quicker than
English built engines; how an American
firm got the contract over English firms
for the Atbara bridge in the Soudan
how American air brakes, locomotives
and rails were almost exclusively order
ed for the great new railroad of Siberia,
were few instances Of many which sur
prised and dazed the whole industrial
world.
Luxuries from the Other Side.
The prosperity that came to our work
ers in these protected industries was the
means Of spreading prosperity to all home
workers, whether or not they belonged to
pursuits or callings Of the kind which
needed to be protected.
Nor did so much prosperity at home
work to the harm of those other countries
which must continue prosperous, IL they
are to continue to be our good customers.
While American exports this last year
were $1.39A 1851, the largest in our
history, and were more widely distributed
throughout the world than ever before,
yet in some directions there were great
increases in imports. Our imports of
manufacturers materials this last year
were valued at 1902, ,264, 100, which is
about 40 per cent greater than for any
preceding year in our history.
By being protected In his opportunities
to make at home the articles that ought
to be made at home, the American indus
trial worker has more than we'll utilized
and justified such opportunity given him.
He has done his W ork so increasingly well
the last four years that all the nations Of
the world have become his customers.
The whole outside world, instead of sell
ing him the things he can just as well
make himself, now sells him the material
which his increased work requires and
which it is not worth his own busy while
to prepare, and the silks, the satins, the
perfumes, the wines, the gloves, the jew
elry, the artistic fancy notions. the toys,
the tropical fruits, the tea, coffee, sugar.
spices, ETC., which he could not very well
if ever afford to buy for himself. wife and
children, before the Republican party
gave him prosperity.