Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1901-10-26
SHIP SUBSIDY.
Thoughtful Citizen of Darlington
Seeks More Light.

Seeks More Light.
Editor Yorkville Enquirer:
On the subject OF the proposed ship
subsidy, you have recently commented
in a very commendable spirit, and
rightly say that in the discussion Of
the question the profit to the ship
builder Is circumstance that ought
to be entirely eliminated from consid-
Grafton.
The sole question that we are inter-
ested in is the benefit or profit to the
American people, over and above the
price we pay for 1t.
Now I, in common with thousands Of
other southerners, who sincerely wish
to discuss all public measures in bus
iness-like way, without prejudice or
partizanism, or the fear Of the Demo-
cratic platform before our eyes, and in
the same catholic spirit you manifest,
wish to be enlightened on this very
point.
We wish to know what benefit we
will derive from our annual approprlA-
ton of nine millions. You have an
swered, A large mercantile marine.
The next question we would ask Is,
OF what benefit Is large mercantile
marine? You answer:
D. We will, In such case, spend our
freight money practically among our
own people and at home.
(2). Others have answered that we
will get cheaper freight rates.
(3). And still others have answered
that we will have an auxiliary navy Of
transports in case Of war.
Now let us examine these several an
swers. You illustrate by saying that
every dollar that goes out Of the coun-
try Is loss to country. This PROPOSE
tion is startling and diametically op-
posed to the teachings Of all the great
writer's on political economies and the
laws Of trade, all Of whom hold that
the fundamental principle and mudsill
Of all legitimate and fair trade. in any
such exchange, Is derived by both par
ties. If the dollar goes, it must bring
back something more valuable to the
buyer than the dollar, and be more
valuable to the seller than his commo-
dity.
There is no subject, probably, upon
which so much false philosophy has
been expended as this theory Of spend
ing money at home. If that proposition
is true, then the converse, in the light
Of the laws Of fair trade, Is also true,
viz: Sell your commodies at home,
and these two propositions would lead
to the necessary conclusion that all
foreign commerce Is injurious to all
countries. And what Is true Of nations
is also true Of individuals, and there
fore all trade is injurious to all men.
You speak Of our loss in the balance
Of trade" as a misfortune and others
often use the expression as II 1t was
menace to our currency, not knowing
or not remembering that these bal
a
If we take the traffic Of any two
countries for any given period there
will almost invariably appear a "bal-
ance Of trade" and while 1t Is con-
venient to express it in denominations
Of money, 1t is settled just as it IS
made. by trade, catching up at anotn-
er period.
II balances Of trade" were settled
with money. there Is no trading coun-
try that could maintain the stability OF
its currency. 1t is therefore, an axiom
in the laws of trade that lone need not
trouble himself about where his money
goes in a trade; just be sure that he
gets the value Of 1t In exchange" So
we need not care where we pay our
freight money or to whence we pay the
bonus Of subsidy Just so we are sure
that we are benefited.
The next question Is, "Will we get
cheaper freight rates?"
Freight Is defined to be the cost Of
carriage. It Is difficult for mathe-
matician to figure out how 1t Is that a
bale of cotton, bushel Of wheat or a
kit Of cod fish will consume less coal In
its carriage to Europe under the Amer
lean flag than under a British flag.
The proposition seems to be more poetic
than practical. However, we want
light on it as 1t is the only real argu-
ment in the case.
The next and last proposition Is that
this large marine would afford trans
ports in time of war. This Is long
shot. England. 1t Is true, makes such
arrangements because she has been In
panic ever since the days Of the
Spanish Armada. lest some armed fleet
should land on her peculiarly exposed
coast. The fact Is. we could go fur
ther back and say this panic Is chronic.
julius Caesar, the Danes and Scots,
the Norsemen and Normans and in
late days, the French have caused her
to sleep with one eye open.
But we are In no similar situation.
In this day and age, nations do not
pounce on each other without long
warnings, during which time any num-
ber of foreign transports could be pur-
chased. And this medieval precaution
Is out Of date.
Such are briefly my present views:
but I am open to conviction and par
ticularly pleased with your dispassion-
ate discussion of the matter.
R. KELso CHARLES.
no n Oofohor 21 tQ0t