BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1901-11-30
SAN JUAN, NOVEMBER 80
Editorial Comment.

The newspaper reports OF the proceeulnsS
of the Reciprocity Convention Wh'cn was
in session at Washington shows how strong
and often malign, may be the preJudice
connected with old battle cries. 10 some
dsepates. free trade was evidently dragon
hidden somewhere in the hall, and ready 70
r1sh upon them if they we're unWarY. DO
they 90 up to crush every argument IN iaV.
or Of reciprocity with the ready charge tnal
II was only free trade in disguise. On the
ether hand manufacturers, who are thlnElng
earnestly of the foreign market and no"
hest to get to it, could only regard their op
nonents as the embodiment of bigoted pro-
tectiouism. gorsing itself on the spolls OF
the weak.u So the Convention seemed 10
he in for a renewal of ancient battles ana ola
recriminations. ,oa
Ia II no time, however, that we dropped
all that and got down 10 the merits Oh Tue
castq 1ftime worn phrases prevent CAIN
scrutiny of the facts, and clear perceptlon
If the best fiscal policy Tor the nation, lei
NO abandon them for some fresher ana truei
fo,m of words. There are certain prop
oSitions on which sensible men OF Dotn
nort;es and all factions are at present
poreed. One is that the United States now
nossesses the elements OF natural power 10
dsgree enioyed by no other manufacturing
country. Another is that trade is goot
tb;no. that it means wealth, while wealth
mean progress in well beng; and tnat ]
onoht TO be facilitated, at home and abroad
IN avery possible way. Instead OF talking
free trade torsa watchword, # that e1feno
: 49, - ----,-zs..... --y .<-.s, Tree
trade. Instead Of talking abOut prUieetaszs !
American industry, let us talk ABOUT laCi
jtating it. In that way we may not oni
find a meeting point for old antagonist
hut arrive at the true point OF view sIor tn
whole subject. This is that, whatever ma
have been true in the past, whatever ma
have been the wise policy in days gone Q.
to-day the United States STANDS TO WI
most by the most unObstructed trade po
sible throughout the acho.e world.
To philosOphic mind, all the dlScusslo
about reciprocity and tariff revision is Dl
the symptom Of a mighty chance alreao
wrought by great natural forces ana u u
tated march Of civilization. At bottom, II
cause and explanation of i: all lie IN Il
now acknowledged transfer to this conntl
of supremacy in the worlds manufacturing
That supremacy rests upon two things
cheap power, and cheap capital. We no
nave both. and to an extent to which nor
of our commercial rivals can preten
Poser in the modern industrial world meal
coal. If any one says that falling watt
mnst also be feckoned in, we agree, but as
what other country has Niagara or >
Mar,,s to harntss9 Now, in the amount
our production of coal, we have crept up
and surpassed England Moreover, u
average price at the pits mouth In tt
limited States is lower than the averas
Enolish price. In that one great eiemel
Of natural power, therefore, We stand mrs
And ace also have now abundant and chea
capital to apply the power. The best pro-
~ this ia that our rate of interest has falie
70 the English level. United States bont
weld the investor no mGre than consol
The return on frst.class railway stool
bora il no greater than on the securities
leading English roads, Uniivalled, ther
foya in the possession Of natural powe
leading the world 10 our output OF coal al
of iron and steel, and with an ualimit'
snnply of the cheapest capital, we ha'
reached that supremacy IN in0Us.ry al
.hat command of the acorld's mannfacturlr
nh ch was long ago predicted by Mr.. Gla
.tona AS early as 1854 it was said
Th;ays that the time would come whs
America would be more powerful ths
England, France, and Russia all put t
gether.
Here, then, we put our finger upon va
forces in our national development deep
than party, stronger Than the historic shi
bole,hs Of opposing schools in political eco
omv. We have reached position wht
We stand TO win in the great world contes
The more freely we are permitted to strl'
with our competitor, tie more surely
shsIl outstrip them. Call it free trade,
fsciIe trade, reciprocity or treaty Of com
merce or tariff revision, or what you sclll-
the main thing is TO give the thews OF or
giant free play. Make the worlds trade
isrre Is possible --our share Of i will
the biggest and most profitable. Speed th
sb,ps 70 our shores, or from our shores
either way they will nrap up wealth for u
We are bound to win by every facility tia
can be given to trad'; we can lose tnly
our osen stupidity, or the hostility We stuI
idly. provoke abroad, puts letters npo
our native strength.