The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1901-03-15
TRADE AND PROFIT.
A DISTINCTION WHICH SOME
PEOPLE DON'T GRASP.
Namely, That n Country May Have an
Immense Volume of Traffic of the
Sort That Carries with 1t No Gain In
Wealth

| NtditHb
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 will bear
perusal:
"The foreign trade of the United
States merits the careful attention Of
the people Of this country and Of the
United States. From the United
States we secure nearly 80 per cent.
of all the foreign produce we need for
food and for manufacture, and the
United Statta finds in Great Britain
market for nearly one-half OF the
products they sent abroad. Now let
lis look at the other side of the picture.
The United States purchase from this
country less than one-fourth of their
total imports of foreign produce, 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 consequence 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.
1t 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 1t Will
thus be evident that the further
growth in American exports in large
measure depends upon the capacity or
this country to buy more largely.
THE growth of the import trade of
the United States and of our exports
to that country presents very differ
ent picture. Compared WIFI
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-
chas ec from us is matter which re-
uuires very serious attention at the
present time, when our trade with Am
erica is checked by the prohibitive tar
if now in force.
"Tbe question now has to be put.
Has not the object of imposing pro-
hibitive customs duties by the United
States been fulfilled, and will not their
retention have very adverse effect
upon American trade in the future? In
1896 it was essential for America to
bring about a balance of trade which
would enable the country to meet all
its foreign obligations and to maintain
its gold standard. But the decision of
the American people in 1896 and 1900,
together with the laws which have
been passed and probable further
amendments 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
past ten years, there is now no doubt
that American manufacturers are well
able to meet any possible competition,
not only 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 OF
that prosperity sell still larger quanti-
ties Of her produce abroad. To do this
it is evident that she must be willing
to purchase the products of other
countries in return for the produce
she sells"
There is one idea that our free trade
contemporaries across the water do
not seem to grasp, and that is that our
foreign trade Is incidental, not our
whole existence. We have home mar
ket that Is almost Unreasonable. 1t Is
from forty to 100 times greater than
our foreign markets. And it is as
valuable to us, as producers, as all the
foreign markets of the world would be
If we possessed them exclusively.
When we abandon our protective tar
if we abandon our home market. 1t
is a dozen years since Tom Reed told
us the modern Aesop fable, and it will
bear telling right here in case the
youth of the London Statist never Rad
it:
"Once there was a dog. 1t was a
nice little dog. Nothing the matter
with him except a few foolish free
trade ideas in his head. He was trot-
ting along happy as the day. for he
had in his mouth nice shoulder OF
succulent mutton. By and by he came
to a stream bridged by a plank. He
.rottod along and lOokfu0 avar the