| Show OF A bold young writer on the salt lake herald staff gives the following figures L 1650 1660 total wealth per capita aoa increase per capita 20 now take the protection period total wealth wealth per capita increate per capita darlne the 90 he then points with pride to the fact that they show an increase of the total wealth of over per cent during the free trade era and only 43 per cent during the protective era it would be a fine thing if the herald man would read more than the bare statistics C W SEATON superintendent in of the Tenth census seeks to impress the following on the minds of the students of statistics in all comparisons between values reported in 1870 it should be borne in mind that the values of were expressed an a currency which was at a great discount in gold the average premium on gold during the twelve months june 1869 to may 31 which constitute the census year was exactly one fourth per cent A premium on gold of one fourth is equal to a discount of on currency of one fifth for purpose of comparison therefore the values of 1870 should be reduced in that ratio when following out this advice the table given above appear as follows 1850 aco total wealth per capita increased per calta 20 now take the protection period 1870 1889 total wealth wealth per capita increase per capita the decade besides this favorable showing in the increase of the wealth of the ap tion one is stuck with the greatly better showing of the wealth per capita during free trade as against the protective era the latter shows over a hundred per cent better individual circumstances the reason for this is very plain under free trade the wealth of the country is sent to foreign shores under a protective tariff it is kept at home for example during the fourteen years of revenue tariff 1846 to 1860 our imports exceeded our exports while from 1876 to 1889 during a protective tariff our exports exports exceed the imports this accounts for the poverty of the people as illustrated by the figures above during free trade and the high standard of wealth per capita during a protective tariff it makes any people poor who import more than they export |
