The Hays free press. [volume] (Hays, Kan.) 1908-1924, 1922-02-16
MUST WE BUY IF WE SELL ?

business corporation Fortunately.
despite the amateur and inexpert
management of the last administra-
ton with its Free-Trade and other
foolish laws, rules and regulations. it
rs still a going concern" Being
business concern, it must run its
business according to business prin-
eiples, exactly the same as any other
business organization, or it will get
INTO difficulties. In fact, it is in diff
cuitles now, although solvent, a con-
dItlon which cannot last always IN
less there is a change in its business
methods. When the voters decided
for a change of administration it i'm
piled that a change of business
Methods was desired, as well as
change of management.
Unfortunately, there are many
men who pose as fnanciers and econ
Omists who advocate the continuance
of the old methods. One of the old
methods which they wish to have con-
tinued is the Underwood Free Trade
Tariff, and the reason they give for
such continuation is the alleged fact
that we produce a surplus of certain
products and that other countries
will not buy of US unless they can
sell to US. But our surplus produc-
ton is no new thing, so the argument
loses force at the start, for we have
had Protective Tariffs for the great
er portion of our national life.
The claim that other nations will
no tbuy of US, unless they can sell to
US is disproven by the fact, which we
have so often pointed out, that our
exports bear no recognizable rela-
ton to the volume of our imports
By that we mean that our exports to
certain countries are largely in ex-
cess of our imports from them,
while, in other cases, our imports are
largely in excess of our exports. In
very few instances do our export
and import trade with any country
anywhere near balance. This is the
result of business laws applicable to
nations no less than to private con-
Germs, as we shall show.
A prominent business man related
to Us the following incident which
will tend to make our meaning clear
He was in the Office of the purchasing
agent of a certain railroad at the
time when a representative of a
prominent manufacturing institu-
ton was present and making a bid
for patronage. The argument was
something like this: Eve patronize
you by shipping all of our goods over
your road, and you don't buy any
thing of US in return. Turn about
is fair play and you ought to patron
ize US, sicne we patronize you" The
answer was, in effect: eve appre-
ciate your patronage and hope you
will continue it, but you patronize
US because we give you good service
and it is handler for you to ship over
our road. Now we are willing to
patronize you, provided you make
your prices right. We buy where we
can get the best prices, no matter
whether those who quote them are
our patrons or not"
That is the way business is done
among large concerns, ad that is the
way business is done among nations.
In fact the buying and selling is
done mostly by private business con-
Germs and nto by the Government,
and they do business with foreigners
on exactly the same basis as they do
with home concerns.
Foreigners buy goods in this cOun-
try because we have what they want
and which, perhaps, they cannot get
elsewhere. In all instances, they buy
here because it is to their advantage
to do so, and not because they wish
to patroniZe Americans. Our prices
may be lower, our goods may be bet
ter, our terms of sale may be more
attractive, or we may be able to de-
liver more promptly. They may buy
of US because we are nearer to them
than is any other market. But no
matter what the cause, it will always
be found to be true that they buy of
US because it is to their own advan-
tage. People are always actuated by
self interest in business and those
who urge Free-Trade on the plea that
other countries viii not buy of US un-
less they can also sll to us ar no ex-
ceptiOn to this rule.
The international bankers raise the
neutrality-suspicious. cry be-
cause they invested so largely dur
-. L.. 49, -. Eor-oicrn indnstrial and