The Providence news. (Providence [R.I.]) 1891-1906, 1903-12-07

trade question by vFree-Traders has been
duelt upon. II has been shown that the
advooa ates Of Protection are not 30 silly
as 10 imagine that country gets rich
by selling more than Il buys, and that
what Protectionists really set store by
IS the fact that under present conditions
so-caned favorable trade balances rep
resent a clearing of or Indebtedness and
an approach TO a possibility OF making
even exchanges.
There is also a keen appreciation or
the Importance OF establishing credit
upon which the country may hereafter
draw at need This advantage IL enjoyed
AT prs~ent by Great Britain. II IS because
the British have placed the peoples or
other countries under obligations 20 them
that thoy are now enabled 90 import sew
ernl hundred million dollars worth more
of merchandise annually than they eN-
mort When the United States has
squared It's Obligations 10 the outside
world II will continue TO export more
than IL imports. provided II can ma
peoples To take it's surpluses. In this
respect II will he following. not the
example OF a country, but OF the thrifty
man who invests his accumulations 80
that ne may nave sOUletnlflt ~ lhu VAIN
upon when rainy days come.
This Is the protectionist balance OF
trade theory in nutshell: no other view
OF the subject has ever been advanced
by advocates of the Protective system in
this country: no sensible believer IN the
promotion OF American industry has
labored under the Sdelusion that the
chief function OF favorable trade bal
snce is 20 draw gold 10 country, al
though Protectionists are not Indifferent
no the danger which results from put
ting a nation in a position to be de-
pleted CT its stock OF money metal nor
10 the advantage possessed by those who
through the ownershp or credits can
command needed supplies.
The attitude OF Protectionists toward
foreign trade has been an equally ia
vorite object OF misrepresentation. The
assertion has been repeatedly made that
advocates OF protective tariff are hos
tile 20 external commerce. that they de-
sire TO build n Chinese wall about the
country and exclude themselves from
the comfy Of nations The rank ab-
surdity OF the charge IL At once made
manifest by an examination OF the tariN
schedules prepared by protectionists.
which provide for the free admission Of
all classes OF articles which We are In
capable or proftably producing for our
selves
American Protectionists are not op-
posed Ia foreign trade: they earnestly
encourage its growth but they expect
IL 10 develop along lines that VIII not
interfere with the development or Am
erican industry They seek 10 promote
the free interchange of competing
products They believe that ''by sensible
trade arrangements which will not inter-
rupt our home production ~e shall ex-
tend the outlet for our increasing sur
plus"
The country. under Protectionist au-
spices has for years been acting upon
this sensible plan. When those who have
framed protective schedules have found
that tariffs were no longer needed for
revenue or TO encourage and protect our
industries at home, they have been re-
moved That is the consistent history
OF Republican Tariff legislation, and the
results are visible in a constantly In
creasing volume OF imports and exports.
The imputation OF motives 10 Protec-
tionists which they never entertained has
tended To cloud the minds OF professional
economists but IL has never for mo-
ment interferrcd with the tendency OF
the system 10 refute their assertions.
While Free-Tradcrs have amused them
selves talking about the Protection wall
reared about the United States. the ex-
ternal commerce of the country has
grown AT a rate which makes the growth
OF British trade seem snall-like.
IL is not extrsordinary that our ex-
ternal trade should act as described. Its
fluctuations are easily explained. When
the energies OF the nation are stimu-
lated by a protective tariff. production
I'm every line OF industry is enlarged and
surpluses are created for which an out
let is sought in foreign countries; at the
~ a
country due 10 increased production and
the feeling which prosperity induces. re-
suits i'm a greater demand for those pro-
ducts OF foreigners which we are not yet
able TO produce. and OF those we are
wholly incapable OF producing owing TO
climatic causes, ON the other hand,
when domestic producers are discouraged
BY fears OF foreign competition produc-
tion shrlnks. The needs Of the domestic
consumer are accurately gauged and no
surpluses are created for shipment
abroad. Contraction OF production breeds
depression. and it's effect is 10 curtail
the importation OF Injuries and neces-
saries
In the light OF the evidence presented
no student OF the question VIII be de-
ceivcd for a moment by the charge that
protectionists oppose the extension Of
foreign trade. or that the eNect OF the
policy has been 10 restrict its growth.
The moro the young voter investigates
the subject the more thoroughly he VIII
be convinced that II is only by strict
attention 10 the development OF our re-
sources that we can hope To attain a
position IN the commercial world analo-
gous TO that once held by Great Britain.
The more vary our productivity
the greater our wealth and our ability 10
buy the things We desire. Had We de-
voted ourselves 10 the protection OF
single industry our wants would have
been as simple az our industrial system.
No strictly agricultural nation has ever
developed great commerce or CONNER
clal class TO carry on trade. II is only
the peoples who have the sagacity 20
cultivate many -sidedness who become
conspicuous traders and accumulators 81
wealth.
II IL undoubtedly true that history
furnishes few examples OF peoples
fiourishing through placing their chief
dependence on trade. but even In such
cases productivity was the basic ele-
ment OF prosperity. The fame OF the
! "a rriers az Tyre was more than riyaled