The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1915-01-30
TWELVE MONTHS
OF FREE TRADE


free trade tariff law to maintain the
unparalleled prosperity that existed
under protection. its disappointments
as producer of revenue sufficient
to support the government, its dis
NAL collapse as an expander of our
exports to capture foreign markets.
and the havoc and depression gener-
ally 1t has brought to the American
farmer and American business gem
orally. is fully set forth in a review
of the first twelvemonths operation of
the law from October 1918, to Septem-
Der, 1914, inclusive. The review has
been compiled from the official monthly
partment of commerce.
Twelve months of free trade spell
increased imports of merchandise,
increased exports of gold and in
creased expenditures of the govern
ment. while decreases are shown in
customs receipts. exports of mer-
chandise, our balance TO trade. and
our total trade or international COM
merce imports of gold. and the treas
ury surplus.
Free imports have increased $780,
| 5S2,729 as a result of placing wool,
cattle. meats. eggs, potatoes, corn.
oats and various farm products on the
| free list.
Dutiable imports under protection
amounted to $685.. .sso,7ss. while un-
der free trade they amounted to
$721, ,S37,129, or falling off OF $107.-
023, $780, This decrease Is chiefely in
manufactured goods and indicates a
diminished consumption in this coun-
try owing to the closing down of
American mills and thereby throwing
people out of employment and bring
ing about a general curtaiIment of
their purchasing power.
The total import trade shows an in
crease of $62.559,070.
Our export trade amounted to
} $2.5l6 6,615, 660 under protection. while un-
der free trade we sent abroad $2.21s.-
49S,254, or a falling off Of $29S,1174io
fort he first year under the free trade
tariff of 1918.
The balance Of trade Chat is the
excess of exports over imports) under
protection amounted to 04,O52. .26i.
: Under free trade it amounted to $343,
J S75,SS5, a disastrous falling off of $780,
6744T6 hi one year of free trade.
Our total or international trade (im-'
? ports and exprts) amounted to 81, $685.
179 059 under protection. Under free
e trade it amounted to $4,092, $50, 723, or
D a falling off of $236.55S336.
Foreigners sent us $73.95s.5s7 of gold
under protection. while under free trade
they sent us $57, ,457.690, or $16, SOC. S97
r less than under protection.
! We sent to oreigners s77,775,S47 of
e gold under protection. while under free
d trade we sent them $175,376,1O9 or an
; increase of $97, ,60o.262.
The excess of our exports of gold over
r imports of the same precious metal
: amounted to s3,s17,2s0 under protection
. and $117,91S, 419 under free trade, or an
t increase of s114,1O1,159
AS revenue producer the present
law is dismal failure, For the first
twelve months of its existence customs
receipts amounted to $266. 1928, or a
falling off of $5l. .742, 265 from the amount
received for similar period of pro-
lection, which was $317, 1851, ,4S3.
Falling revenues alarmed the free
traders so much that they resorted to
aooitlonal taxation of the people by
. passing the so-called war tax bill which
they estimate will bring In about $50. :
100000. If this amount is collected IT
VIII just about offset the shortage in
- customs receipts. of $52. .OOO, 900 and the
income tax failure of $35, ,0O0. 900 The
:. european war, which began about Aug
ustl, 1914, was blamed by the Democrats
: ior this shortage in revenue. vet cus.
= = IONS receipts for the first ten months
" irom October. 1913 to july 1914 ~
elusive, of the Underwood tarifs shor,.oa
!. railing off of sso,s6o. .O7o. clearly show
m .ns that the European war had nothing
ar 70 40 with this deficit in the treasury
!. Inc total ordinary revenues OF the
p s"'erhment for the twelve month,
ehaing September 30. 1914, which wa.
under free trade, amounted to s731
r ooIoSS. This amount includes 81. 500
I'd ooo surplus of postal revenues for tb,
fiscal year 1918 and $12,535,2 ,276 derive,
l. from the sale of the old battleship
Or Idaho and Mississippi. or total Of s1s
335,276, which are extraordinary reve
y, nues and should be deducted from $731.
at SO7osS, thereby giving SITS, 5,471, ,S12 as tn
he actual revenue from free trade legisla
n tion as compared with $726264,147 TO
ne, the previous year under protection, o
us net falling off of 1922. .335. instea
ice of the apparent increase of $5,542, "a
d. under Democratic administration.
he The net ordinary expenditures of tn
he government under protection amounte
ny to s710,431.s25 or an Increase of $2s.
s7S.aia.
iio The surplus in the federal treasur
~ was $39206.241 under protection. Will
the surplus under the free trader
= amounted to $21 375.2s3. but II tn
u postal surplus for 1918 of $4,000 900 an
'ue ths battleships sale of s12.5S5.c76 ar
~ included, these items are not properl
credited to any legislative policy of tn
Democrats. T here they should be de
Quoted, and the treasury surplus the
y becomes only $5,oss.9s7 under the fire.
-~- traders, or a decrease Of $34.. %
oru from the protection period.-America
~ Economist