The Globe-republican., 1901-03-14
TRADE N PROFIT.
DISTINCTION WHICH SONS
PEOPLE DON'T GRASP.
Namely, That = Country May Have an
Immense Volume OF Tramc of the
Sort That Carries with It No Gain In
Wealth

Immense Volume OF Tramc of the
Sort That Carries with 1t No Gain I'm
Wealth.
The following from the London Sta
list is very interesting reading, and
the conclusion from our English cou-
sins point of view is certainly in
genious If not ingenious. 1t viii bear
perusal:
THE foreign trade of the United
the people Of this country and of the
United States. From the United
we secure nearly 80 per cent
of all the foreign produce we need for
food and for manufacture. and the
United Statea finds in Great Britain a
market for nearly one-ha1f OF the
products they sent abroad Now let
US look at the other side of the picture
The United States purchase from this
country less than e~ne-fourth of their
total imports of foreign roduce, and
we sell to the United States not much
more than 10 per cent of the produce
We send abroad. In other words, Eng
land buys from the United States
nearly four times more produce than
she sells to that country. and it is
mainly in OF our huge
purchases that the United States are
able to buy from other countries silk,
coffee. tea. etc. are able to provide
the interest upon their foreign debt,
to provide for freight and insurance
charges. to meet the very large ex-
penditures in Europe of American
tourists, and to accumulate capital out
of their foreign trade.
It will be noted that in the ten years
from 1880 to 1890, when our imports
from the United States declined, the
total exports from that country also
fell off. and that in the ten years
from 1890 to 1900, when our purchases
of American products greatly increased
by reason of our great prosperity, the
total exports of the United States also
showed immense expansion. It will
thus be evident that the further
growth in American exports in a large
measure depends upon the capacity of
this country to buy more
sThe growth of the import trade of
to that country presents a very differ
ent picture. with
the total expansion in American i'm
ports, the increase in imports from
this country has been insignificant.
Compared with the enormous expan-
sion in our purchases from the United
States, the slight growth in their pur-
chases from us is a matter which re-
| quires very serious attention at the
present time, when our trade with Am
| erica is checked by the prohibitive tar
if now in force.
"The question now has to be put
Has not the object of imposing pro-
nibitive customs duties by the United
States been fulfilled, and will not their
retention have a very adverse effect
upon American trade in the future? In
1896 Il was essential for America to
bring about a balance of trade which
would enable the country to meet all
it's foreign obligations and to maintain
its gold ndar But the decision OF
the American people In 1896 and 1900,
together with the laws which have
been passed and ~oba further
mendment in the next session of con-
gress have insured the maintenance OF
the gold standard, and the necessity OF
restricting imports for this purpose has
passed away. Moreover, in view OF
the great strides made by the manufac-
turing industries of America in the
ten years, there is now no doubt
American manufacturers are well
.Id3ble to meet any possible competition
a 1ton4 in the home, but in foreign
markets. Hence America no longer
has reason for imposing either a pro
hibitive or a protective tariff America
has, indeed, now to face the question
of how she may increase the prosper
ity of other countries, and in view O
that prosperity sell still larger quaint
ties of her produce abroad To do thii
it is evident that she must be willin;
to purchase the of othe
countries in return for the produc
she sells"
There is one idea that our free tra1
contemporaries across the water d
not seem to grasp, and hat is that gu
foreign trade is incidental, not GU
whole existence. We have a home mar
ket that is almost i-mmeasurable- 1t i
from forty to 100 times greater tina,
our foreign markets And it is a
valuable to us, as producers, as all tn
foreign markets of the world would b
if We possessed them exclusivel,
When We abandon our protective tai
if we our home market
- a dozen years since Tom Reed tol
US the modern Aesop fable, and it wi
bear telling right here in case til
youth OF the London Statist never rSa
: it:
r "Once there was a dog It was
: nice little dog. Nothing the matt
with him except a few foolish IRE
!, trade ideas in his head. He was tro
ting along happy as the day, for l
had in his mouth a nice shoulder
l D--- - y