Show PE WHITES AGAIN what projectionists protectionists belleve believe and what Is the truth GOODS PAY FOR FOE GOODS A raise falge theory punctured and exposed PO sed fallacies pointed out the following sample of sheer and downright down right idiocy is of course from the ogden standard standa rd A republican friend at layton asks if the united states exports worth of roods good more thau it imports does the country lose in material wealth do home industries create a home market for the farmers surplus to the first question we answer no and to the second yes ves the excess of exports from t the he united states either cither of manufactured or agricultural products represents so much of labor performed in their production rind manufacture e the rhe in money returned in payment is just so much added to the wealth of the country the above is what every protectionist beli believes ees so does nearly every man inan that has never investigated the subject ore ope fact is worth a thousand theories the in ill money is not returned it never has been there is little reason to suppose it ever will be open tile the statistical abstract of the united states for 1890 on pages 0 ag and 47 there is shown the result of the republican policy of sending n away more goods than we bring buck bylel on the theory that we must be paid the difference in money the statistical abstract shows that from 1876 to 1889 inclusive clu sive fifteen years we sent away more wealth goods than we brought back and that we al also S 0 s sent e nt away in gold and silver during these same fifteen years wore more than man we bro brought tight back thus we did not receive this balance in money we never did no nation ever does or ever could there is not enough coin in all the baal banks s of europe to pay for two years export of goods from this country goods pay for goods between nations there is no international ter money we send out each year about worth of M pods goods and bring n back each year about in goods if one is not the pay for the other what is it the pay for E exports sports include every commodity that 11 agoes goes out of a country it imports include everything that comes in when we send away more wealth than we get back when we give more inore that than i we get protectionists projectionists say we are ya joining ining the difference common sense shows we are arc losing 0 it N no 0 individual loses it but this country loses it and the country in which this balance is left or invest invested cd gain gains s it one of the best political economists of this country explains tile facts as follows when our imports exceed our exports the balance is invested by foreigners in this country when our exports exceed our 11 imports 11 po arts americans iLiae ricans are arc investing their surplus it in other coun countries tri es than chati their own until recently very many men were under the impression that bilat it was a good thing to have wealth invested in a coni community and it has been tile the habit of our western states even in kansas the banner republican protection state to offer inducements du to eastern capital to ta go 0 O there for investment ea each ch state was seeking 0 a balance of trade against herself and seeking it i t ill ui every ever way possible the protection editors tell us that this allis is a very bad thing t A state or town is better off without ti foreign capital it will be better off by sending pl all it lias has to new york they do not want any foreign capital or foreign wealth in invested aci bcd in this cuu country kitry their idea of wisdom is to have american invested in english ships in scotch mills in french loon looms is in german factories factora es in ill russian railways out of reach of taxation by this government by billiou billion dollar congresses within tile alie past thirty years protection has driven out of this country and into foreign in vestment investment three billions of doll dollars ar 0 s and that h has as been th the 0 balance of trade in our f favor avor and it lias been in our favor because tile alie government of tile the united states was relieved of the necessity I 1 of taxing 0 it and tal taking in caro care of it we have forced another government to protect this mount amount of property and keep the owners in peaceable penceal ae possession of it all this is very fine Iti it is svery very log logical i c a 1 too the poor republican voter oter thinks th that at nth nothing n 0 brighter or smarter I 1 hag aas ever en entered the mind of man perhaps it never lid did with how low lutle wisdom tile the english I 1 ire are governed the balance of trade against england exceeds each year almost our total average exports or imports import in seventeen years the balance of trade in our favor and against E england between the two countries has baa been all this wealth the united states congress lias has been relieved from froin tile the burden of tak taking int care of it must be of course a very heavy drain upon the english resources yet those fools of englishmen so far from being opposed to this balance of trade in our favor and against them are anxious to see sec it increased instead of howling bowling like den demons ions it at our making a dumping ground of england for our agricultural n products and a part of our machine products they actually howl for more they provide the cl dumping ground convenient for our ou uniting or rather rather their ships ship they the are willing for us to dump upon them thein every dollars worth that we have got tho the full product of every factory would be wel welcome coine if we should strip our houses of the furniture it would be welcome if we would even dump upon then them the tons rf of silver now in the treasury they would pay the cost of transportation when we skink of what we have done and of what we might have done we ought to bo be disgusted with our own moderation protection WISDOM A few facts illustrate what a fine thin thing protection is si since nee the year 1876 we have exported port e d more wealth than th in we have lave imported because of the republican policy of taxing L I 1 the import of goods ou on the t theory that we ive could receive the balance in ill gold and silver that much of our wealth has been driven abroad into foreign investments by the republican policy of taxing imports so that our exports should exceed our im imports ports so eo that wo we should 7 give more than we received the republican theory is that the more wealth abroad and the less we receive in return the richer A we e shall become republicans Republican 4 fear th eliat 11 t other nations will make tile the country a dumping ground for their surplus wealth that they will flood us with their cheap foods and that we shall not be able to stem the tide of this flood of good things thin it must riot not be supposed when we say y imports are arc the pay for exports that the man who sends goods from arora this country receives ilis his pay in the goods of other countries thatis that is the final re result kult of the transaction for the country as a whole but it is accomplished by a maze inaze of transfers and re trans fers made by brokers each man sells for cash which in ill international commerce is merely mere another adoth er name for credit it is a slip of paper a check or letter of credit which he be can apply to the purchase e of goods to bring 0 back or have it cashed at any great bank or le he can call invest it in foreign bue ineas or bonds this credit is good for its face value in any country in the world and is transferred hourly by mall mail or telegraphed 0 from one country to another with perfect safety thus A in new york sends a cargo of whort worth i 1000 to london through 0 a london bank lie ho receives good ta for that amount on oil the new york banks and lie bo draws liis his money from one of them then 11 in in london sends a cargo of cloth worth 1000 to this country and receive receives es a check for that tha b amount on a i london bank and draws his big money each bank is thus indebted to tile the other to the extent of 1000 and the accounts between them are canceled the wheat thus pays for the cloth though it ib is is not directly bartered for it when we export more than we import we can bring back the difference in guld grid and silver but it will not pay us to do that for tile the purchasing power of gold and silver is less here than abroad it will pay us to invest it in foreign goods and bring them in or if tile the government taxes the goods too heavily ica vily it will pay us better to invest the money abroad arid and this is what we do as sh shown own by the reports of the bureau of statistics but the surpassing charm of protection is that it makes other country countries es ft a dumping 15 ground for large 0 amoul amounts its of american capital that would otherwise be invested here 1 KEE FOLLY during the last ten years great 1 britain has each acar yc ir imported I 1 over more inore than sho has exported iler her imports for 1890 1800 were W and her exports were the difference of represents how much britain gained on her commerce that year the british have an idea that it is a good thing to have other people make their country a dumping ground for surplus wealth they imagine it is good british policy for foreigners to 0 o invest in english enterprises so they put no tax on wealth shipped into britain if they send out one dollars worth arid and get as pay for it two dollars worth of good they actually think they are gaining the difference of course they been educated up to the tho protection idea that the more wealth they send pend away from their county count country y a nd the less lesa they ring bring b back the richer they are arc they actually think exporting diore than they import would make them poor you cant make john bull believe that if he gets acts more than he gives lie he is losing anything it takes take a bright american to li clieve believe that of course every republican will hasten to explain that britain pays this balance against her in silvor forno for no republican can possibly be made to see sec that when a man gives little and gets get much the diffie difference rence is ie his profit on the bargain A man who has two cows and needs but one trades one for a horse which lie he gets off a man who wants a cow but has more horses than lie he needs no republican can be ba made to see that each trader may make a large lare 0 profit jie ile thinks the trader who w ho gets what is of more value to him than what lie he gave must pay the difference in money ho he doe sent know that both gain by the trade there is ig one way WB however of silencing a protectionist who talks of En glands paying this balance in in gold and silver the total circulating cu money of england is about a little more than e enough to pay last years balance against her in two years ve ars she would not have a coin left in fifteen years all the coin ever minted would be required to pay the balance i paint her the money of the whole world could not pay it t in fifteen years vears from 1874 to 1888 britain britain imported more in in goods of all kinds than she ex ported exported the mind igind shrinks from the bontemp contemplation lation of figures the total gold and silver coin of the united states slates barely reaches the seventh part of it the total wealth of spain arid and ber colonies is less than this addition to Bri Brit aiki s wealth through commerce cona alone in fifteen years of free trade such is british folly if the english were wise wis e like the spaniards ar arethay e abey t would export more than they iiii import port egypt does that so do other bankrupt nations spain began that policy when she aas as the richest nation in europe and is as a consequence is is now one olic of the poorest britain has long 0 since passed the protection countries of europe in the therace race for wealth and in wealth and influence is today todar a ara match atch for any two of them yet several of them have a much greater population and a better country than she has and only thirty years ago 1 france was the leading country of europe THEY CANNOT our adversaries n writer rites have adopted a system of tactics which embarrass us not a little do we nye prove our doctrine they admit the truth of it in tile the most respectful manner do we attack their I 1 principles they aban drAi n them with the best possible grace they only ask that our doctrine which they acknowledge ack now ledge to betrue be true should be confined to books and that their principles which they allow to be false should be established in practice the whole republican press rass of the nation has been eni engaged gavel 0 in in con coll granulating 0 the people that during the seven months ending t jan 21 uy under tile mckinley bill this llis t country exported more inore than it im ported theise blared this excess of wealth cx ported above the amount imported was tile the balance of trade in our favor they teach their dupes wo we received that balance in t gold and silver but tile excess of imports of gold and silver during the period was only showing that the balance of 1 bad not been returned in any shape of real wealth whatever for that amount individual americans of course held s slips I 1 aps of paper showing th that at they had invested that amount it in various foreign enterprises and when wo we turn to the report fur for february we find thia excess of c exported merchandise was over 21 and that there had bad actually been sent out more of 0 gold and silver than has been received at the end of tho the dearv year we e shall find a still greater balance in our favor as protectionist projectionists say ay a balance that has been driven S out of this taj country by a balance that while still owned owned hy by americans is giving employ mant to and being used by for cigner signers cig ners su a balance that never has ha been is not and never can be pak paid for in gold and silver a balance balanc that is kept out of this country by b the tax on hii imports ports but just show these facts to any protectionist as I 1 have often done ile he will stare in amazement at the facts and tell you that these facts are contrary to reason and so sc they ire are toa to a protectionists projectionists rea reason oti TO YOUNG alli allin N when harvey discovered the circulation of tho the blood the older physicians rejected his din discovery covery because it was as they claimed 2 contrary to reason ile he relates that no man over forty years of ape age accepted his discovery this i is s also true of many protection isis long 0 gratice in looking cross eyed at this question has unfitted them for reasoning 11 upon it or for considering erin the facts that explain it sly father taught me protection when I 1 was sixteen and he was sixty three and like him I 1 devoutly believed in it when wilcia I 1 was twenty years of a age ge I 1 read says political economy then I 1 found out what an ass abs I 1 had been sly my father accepted the free trade demonstration as soon as it was presented to him and I 1 have no doubt many lifelong life long 0 protectionists projectionists would do the same saine if you could got get them to listen to facts and reason but that is duci cult the appeal lies lie s mainly to the young men and I 1 desire to tell them that this is a mere question of f fact act there is no room for opinion any more than there is in the problems of arithmetic or algebra on but the motions of the earth and its true relation to the heavenly bodies arc not more effectually disguised to the careless observer than are the real facts of economic life and there ire are many strongly entrenched fallacies which must ile be refuted there are selfish interests interest to be grappled with and there are wro wrong ng ways of lo 10 looking at things and fallacious modes of reasoning about them to be unlearned |