Republican news item. [volume] (Laport, Pa.) 1896-19??, 1904-01-21

sibIc by n TariH system Which
Restricts Competitive Imports.
We have received communication
from Mr.. w. Trueman of New Haven,
Conn, which shows what an earnest
consdera ton is beiug given to the tar
III question by the thinking men of the
country, says the American Econo-
mist. Mr.. Trueman asks for informa-
lion that will clear his mind upon Il
question that has perpleXed for over
century innumerable minds seeking
l.aut upon most important phase of
International commerce. When men
ll.l Daniel Webster and Henry G..
Carey can come TO different conclusions
.,aIling the same question it is not
IT, be wondered at that the students
Il iud Of today, in spite of the thorough
c.utidation of the subject which has
n given by writers of the past cen
Jury. should be confused and ask for
light Mr.. Trueman in his letter says:
''Un page II of pamphlet No. 10 it is
stated that in five years we exported
Et|u, 100000 worth more merchandise
than we imported, and this is then
called 'fayorab bic balance the infer
once being that this excess of mer-
cAandise sent away is paid for in
gold,
had Mr.. Trueman read carefully a
l.,ic further on the same page he
would have found the following:
I'VE are changing under this trade
balauce from debtor nation 10 a cred
hor nation, if indeed we have not al
leu1y done so. We have an immense
freight bill to pay annually, large in
l"Tos, disbursements and exchanges on
@..odnt Of tourists expenses abroad
SO tbat with much less than our favor
able balance we would have to ship
aa,d abroad in large quantities to pay
eur hin, as we have had to do in low
Wrif times"
In order to present the matter even
mere lOrcih,y for our consideration Mr.
GHelaan draws up Il table in which he
shows that from Sept. 80, 1900, 10 June
20, lgJ1, The total excess of exports
OF AT kinds, merchandise, gold and sill
yer, amounted to $4,1I9,6I3, ,923. and
ti,on he.asksfhe questions:
"I ~ sh0Vs that we lave sent away
over 0,600,000 wealth for which We
have received no return so far as be-
iH paid for in gold goes. and what |
want to.ascertain for sure is what did
We get"
MIiie Ii will not be possible to tell
MI Irueman and others who are seek
ing light upon this point the exact re-
turn which we received for this excess
g. exports amounting TO over $4 O00,.
CaA.Gu0, yet it will be possible, we
think. to show to our correspondent
that we did receive an equivalent, We
viii not at this time confuse the mat
ter by trying TO point out that MIR.
Trucluan should distinguish between
exports; of merchandise and exports of
gold, Let US see if we cannot by Il
Imacly illustration show that it may be
possible 10 visibly pay out labor mcr-
cL.nlise and even money and receive
no Immediate visible return.
Let us take the farmer who has a
considerable mortgage upon his farm,
held by the city bank. He goes to mar
.lct during the summer and fall with
several loads of produce, amounting in
value altogether, let us say, to $500.
After selling his produce, which is the
result of hard labor of himself and per
laps enc or more hired men, he takes
the money received to the bank There
hc not only pays the annual interest on
lis debt, but he reduces his mortgage
hg, let us say. $50. Not only that. but
du!in" the summer his goodwife has
taken IN from the sale of milk and but
ter and cheese and perhaps n few vege-
tables and other products of the farm
$50 more. which is in gold or in money
tlat could be changed for gold at any
Nru'5 AZ the end or the season the
farmer takes this $50 also to the bank
aad further reduces his mortgage. lie
taEes nothing home perhaps not even
receipt for he knows that the trans
action has been recorded to his credit
ON the books Of the bank.
tie repeats this work OF the summer
perhaps some seasons with larger pay
laenta and some with smaller. till AT
tap end Of ten years be has not only
ii his interest every year, but he
ii.5ds that with tie last payment he Is
able 10 wipe ont the mortgage and free
himself and farm from debt. All these
wears he has been taking to the city
Hut only the produce which is the re
MI Of his labor ana help, but he has
been taking as well quantities of gold
or IT'S equivalent. He has been receiv
ing nothing back ii has all been export
ANA no import. But on his last trip
wtJn he receives his mortgage and
yEan he takes it to his home and il
the presence of his wife and children
Holds it over the burning candle, ther
viii Mr. Trreman, or any one else. tel
u2 that he has not received an equiv
;ant for his earnings and for the prod
uc2 which he and his wife have beer
selling All these years? The farm il
uow free from incnnbrance. and be i
70 reap rs fun benefits or can sell ii i