The Hartford republican. (Hartford, Ky.) 18??-1926, 1914-03-27
Mr.. UNDERWUOD'S
INDIGNANT PROTEST
Against the Un-American Free.
Trade Surrender Of American
Rights in Panama Canal.

poi'dhSc VI d licIChdHL hlttTlHe W Oul
country was clearly expressed by
Thomas jefferson, then Secretary oil
State under George Washington in
1871, when he said that 1.-THE mark
citing of our products will be at the
mercy OF any nation which has pos
sessed itself exclusively CT the means
of carrying them, and our politics
may be influenced by those who conn.,
mand our commerce"
This statement, made more than
12O year ago, is prophetic of our
present condition. Foreign govern
ments are almost exclusively pos
sessed of our foreign carrying trade
and, to large extent, the arrange-
ment of their shipping routes has ex-
cluded our commerce from the mark
cts Of South America and will con-
tinue to do so as long as present con-
ditions remain.
No question outranlped in impor-
lance the fostering care of our COM
merce in the first Congress of the
United States. The building of Am
erican ships and the development Of
our foreign commerce for years has
been discussed from many and varied
standpoints. When we consider the
building up of the American mer-
chant marine We naturally ask the
question, is 1t worth while? And If
1t is worth while, what are the bene-
fits to be obtained?
Almost before the dawn of civili-
cation nations were fighting for trade
and 1T has always been recognized
that favorable balance of trade was
a vital factor In the commercial life
of nations to be commended for by all.
A country may maintain the balance
Of commerce in its favor By it's ex-
port of commodities produced at
home, either agricultural or manu-
featuring, or it may maintain a
balance in its favor by reason of the
work done by it for other nations.
England, Norway, Germany and
France are great carriers of commerce
for others than themselves. They
often have an adverse balance of
trade against them amounting to
hundreds of millions Of dollars,
but as geat as this adverse balance
of trade is, they easily pay it by
carrying in their ships the products
of other nations. Without their earn
ings from their shirs they could
not for any length of time continue
their present excessive importation
Of commodities from other lands.
transportation must be balanced as
well as trade, either by trade, by
transportation or by the exchange of
precious metals, securities or invest
ments. 1t has been recognized uni
yersally. that a country that settles
its balance OF commerce In gold
must ultimately become a dec;Adent
nation. poorer and poorer as the year
go BY.
Our carly statesmen. recognizing
this fact, commended for fair COM
MERGE between the colonies and for
eign nations. Benjamin Franklin
stated:
Fair commerce is where equal val
ues are exchanged for equal, the
expenses of transportation included.
Thus, If it cost A in England as
much labor and chrage to raise a
bushel OF wheat as 1t cost b in
France to produce four gallons OF
wine. then are four gallons OF wine
the fair exchange for a bushel OF
whear A and b meeting at half dis
lance with their commodities to make |
the exchange? The advantage OF
this commerce Is that each party |
Increases the number OF his employ
ncnts. having INSTEAD of wheat alone
and wine alone the use of both wheat
and wine.
The balance Of commerce In its trade
relation with other countries Is large
y the determining factor in the life
ii a nation. that ascertaans whether
{ shall b. rich or poor, weak or
strong. dependent or Independent. Ship
ess trading nations are constantly In
'oreign debt. and often In financial
straits.
The prepouderance of exports over
IMPORTS may fix the balance Of trade
n a rlptions's favor; nevertheless, II
'ome other nation is carrying its com
MERGE, the cost Of transportation
'eing paid 70 the foreigner. the bal
nee OF commerce often is lett In
ayor OF the foreign nation. and