Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1906-09-05
UNCLE SAM & CO.
ITS IMMENSE BUSINESS FOR THE
FISCAL YEAR 1896.
Figures Which Explain Why the
eiehty-Four Million Partners in
the Great Firm Have Rea-
son to Be Content.

tSNtlCnai. the New York Herald, OF
July IS, prints as its leader strong
"stand-pat" editorial. AS a rule, the
Herald is a strenuous advocate of
tariH disturbance. 1t is. therefore, all
the more noteworthy that in the ar
ucle entitled The Business OF
Uncle Sam d Co.." cogent and con-
vincing reason should appear for let
ung the tariff alone. True it is that
We are all partners in the great
firm OF Uncle Sam & Co., and from
the largest to the smallest every one
Is directly or indirectly affected by
Its vicissitudes and shares in its
profits"
True, every word OF it, is the Her
aids conclusions:
With the prospect OF brilliant
crops, magnificent foreign trade.
and an even more prosperous home
trade reflected in the statistics of
mercantile. industrial and trans
Iortauon activities, the Si,000,000
partners in the firm of Uncle Sam &
Co. have every reason to be CON
tent"
This is exactly what a very large
number of earnest and patriotic peo-
pie have been Insisting upon for
some time past For this they are
called 'stand-patters. The term
should be one of high commentator.
and not one of reproach, according to
the Herald's showing.
We are told by the Herald that
the record for 1906 as to imports and
exports breaks all previous records.
the total reaching Very close to three
billions. Also that the firm of
Uncle Sam & Co" has in its exports
Of S+,743, 163,G12 exceeded by more
than II per cent. Great Britain's ex-
Ports OF home products in the last
calendar year. Also that our trade
balance for the last ten years
amounts to s5,14S,213,000
These are stunning figures. Has
the Herald thought out what they
mean? Has it, for example, looked
backward to 1898, the first year of
the Cleveland era of tariff reform"
when our adverse trade balance was
Sls,f35.12S? Has the Herald consid-
cred the enormous disparity of IA
vorable trade balances in the tariff
reform years of 1S93-lS97, com
pared with the protection years fol-
lowing that period?
Tho fact that we had in actual cir
culation 100000 600 more OF gold
coin than VIC had ten years ago-an
increase more than twice as large
as the increase in bank note circula-
tons mentioned with satisfaction
by the Herald 1t is an important
fact. The explanation is fully as i'm
portant as the fact itself With an
a. craGe trade balance of S512.799.9S1
Coming to Uncle Sam & Co" each
gear Tor the past nine years. as con
trasted with yearly average Of $780,
624,7G4 in the FIVE preceding years of
tariff reform this gold has come
to rs in partial settlement Of net
trade balances. Why did not the
whole of the balances, amounting to
more than five billion dollars. come
back TO us in gold? Because of the
huge sums that must be dedutted on
recount Of the freight bills Of foreign
steamship companies. the dividends
and interest on American stocks and
bonds owned in foreign countries. the
sums spent abroad by American tour.
lists, and the sums sent abroad by
prosperous Americans to needy rela-
tivcs. Add TO this the great blocks
OF our securities that we have bought
IN the past nine years of protection
trade balances, and 1t is easy to see
WHY we have not accumulated more
than S7O0,000,0CO in gold in all these
years.
Wei may the Herald felicitate the
s4,O00O0O partners in the firm of
uncle Sam & Co upon their share
- IN this splendid showing of profits
The country is to be congratulated
nnc so is the Herald itself. Let the
Herald look over it's books and com
pare its net receipts in the tariff re-
form period OF 1S93-1S97 with its net
receipts in the protection period of
1S97-l9O6 We have an idea that in
the ratio OF at least two to one the
Herald would find reasons for cor.
graduating itself upon having been
sharer in the profits Of Uncle Sam
& Co since the firm emerged from
the tariff reform period nine years
40. We have an idea that every
producing interest in the country
every partner in the great firm
would find similar reasons for con
graduating themselves upon the
change from tariff reform" to pro
lection: similar reasons for not wish
ing another shift backward from pro.
lection to "tarifreform:" similar
reasons for 'sianding-pat." The Her
aid article is fun OF such reasons.
The United states Steel company