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Show Excess Excess cf Gold Yecr. of Imports. Impa led. I.S8S. 28,002,607. $23,558,082. Here again is the same difficulty. We imported more goods and also more gold than we exported. We sent abroad 1,634,280 more silver than we brought in. Excess of Excess of Gold Year. Imports. Exported. 1889. 12,730,277 ,49,667,827. As before, thtre is no correspondence. correspond-ence. Gold does not pay the "balances." "bal-ances." During these five years we imported only $5,104,632 more in gold than we expoi ted, yet our exports ex-ports exceeded our imports by $201, 881,679 during this period, and we also exported 68,545,544 more silver sil-ver than we imported during the same time. It may be asked what becomes of this"balance"that we do not receive though it is in our favor? Of rmirw it is not lost. It is invested in other countries. It is paying wages and building enterprises abroad. The Republican policy is to make our imports as small as possible by taxing them, on the theory that w'e shall receive the balance in gold. If we received this balance, there would not be the same objection to this policy, but we do not receive the balance in gold. We receive securities or the bonds of some English Eng-lish manufactory or Russian railroad in which the actual wealth has been invested and in which it is paying wages to foreigners. The truth is that our imports are the pay for our exports, and when the tax on imports is so high that it does not pay to bring them into this country, that much wealth (imports) (im-ports) is simply kept out of this country, and is consumed in building build-ing up some other country. Since 1S76 we have exported a billion and a half dollars' worth of wealth more than we have imported. We have sent more than we have received, re-ceived, niven mnr thanm i. ' , .0 - w.MH ,TV 11 is the Republican policy to drain 'thiscouutry of its wealth in order to build up other countries. s L Herald. THE PET SUPERSTITION. The pet superstition of the Republican Re-publican party is that bringing goods from abroad drains this country of its money to pay for them. It is impossible for a person who knows anything of the mechanism of exchange to be deluded by this idea, for the reason that there is no inter-' national money, and gold and silver, between different countries, are simply sim-ply commodities, bought and sold like cloth and flour. Let us take, for the sake of illustration, illus-tration, the five yenrs from 18S5 to iS8a,inclusive,to determine whether as Democrats assert, our imported goods are the final pay for our ex ported goods, or whether, as Repub-, Repub-, hcans, gold and silver is the pay for them. In 1885 we exported$742,i8o,755 in merchandise of all kinds; and we imported 573,517,329 in merchandise. merchan-dise. That is, we exported $164, 662,436 more than we imported. According to the "balance of trade" theory, we received this difference in gold and silver. Our excess of gold imports for that year, however, over the amount exported, was but 18, 2t3,8o4,or only one-ninth of the "balance" tbe protectionists say we received. But the same year we exported ex-ported $7, 203,006 more in silver than we imported, so that the only "balance" we received in gold and silver together (the money metals) was a beggarly ?i, 010,798 in payment pay-ment for the 64,662,426 due to us. It is evident, if the same facts are found in the trade of other years, that the "balance of trade" theory, which maintains that our exports ought to exceed our imports, on tbe supposi tion that we shall receive the difference differ-ence in gold and silver, is a mere delusion. We shall tabulate -vthe facts for the succeeding four years. Excess of Exports Excess of gold Year over Imports. Exported. 836. $44,088,694. 23,20S,343. - i i ' Here we observe that this country not only did not receive gold in pay ment for the excess of exported goods but actually sent abroad more gold than was received. The same year we also exported fn, 660,91a more in silver than we imported. Excess Excess of CoM, Year, of Export i. Imported. 1S87. S23.863.443. 133,209,414. In this year the geld imported I seems to have paid for the excess of imports, but leaves the former years still unexplained. We exported an excess pf 9,0.j6,3t3 in silver the same year, |
