The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1916-10-09

istration at Washington, and can see
the prestige of the United States re-
stored"
Industrial Preparedness
Isaac F. Marcosson, an American
writer of good reputation, recently re-
turned from Europe, where he made
an economic study of France and Eng
land. In an interview in the New
York Times of September 80, Mr.. Mar
cosson said:
Considering first the determination
of England and her allies to be self
contained, it seems certain that after
the war England will have protective
tariff, a high protective tariff. Eng
land wants everything needed in Eng
land to be supplied by England and
her colonies. The British want to cut
down their imports and keep gold at
home. This movement is going for
ward with tremendous bounds. You
will find that before many more
months of the war there will be a
great falling off in the purchase of
munitions in this country, for England
and France are more and more maxi
ing their own. Already many Ameri-
can articles have been practically
barred"
War An Education
There is nothing like war as an edu-
Gator Fine theories are blasted to
pieces by grim facts. A nation learns
that it must depend nupon itself. The
movement for protection in England
is not sentimental or theoretical, but
is the exercise of the instinct of self
preservation.
1--WE are melting down millions of
English sovereigns and coming them
into American money" said the Direc-
tor of the Mint on September 20,
speaking at the American Bankers AS
ISOLATION convention at Kansas City.
81 estimate that the amount of gold
still to be received by the United
States from the allied nations will be
00,000,000 The amount of gold re-
ceived up to date is over $750,000 900. "
Naturally, England is trying to stop
this drain of gold. 1t will diminish
the purchase of American goods as
fast as possible, and establish a pro-
tective tariff system as soon as the
public can be made to see the fallacy
and danger Of the free trade system.
England Headed For Protection
While England. the greatest COM
mercial nation in the world, is COM
ing to the protective tariff as a dire
necessity, the Democratic President
of the United States blissfully sees the
inflow of war gold and proclaims the
fallacy of protection. He wants more
and more free trade, and he begins by
throwing open the American market
without obtaining any equivalent con-
cessions in other markets. Two-thirds
OF all the goods imported in the Unit
ed States are on the free list. There
is neither protection to American in
dustry and labor, or revenue to the
government. The gigantic market of
the United States is handed over, a
free gift. 10 the foreign employers of
cheap labor.
How long can the United States
stand such an arrangement after the
war. when England and Europes sol
diers are transformed into producers
of manufactured With Europe's mar
kets closed to Americans, and Ameri-
cas- markets open TO Europeans, which
direction would the flow of gold take
across the Atlantic?
Hughes For Industrial Preparedness
Charles E. Hughes stands for a pro-
teotiye tariff. shielding American in
dustry ana American labor. Woodrow
Wilson stands for free trade, subject
ing American industry and American
labor to the unrestricted competition
of foreign cheap-labor goods.