The Nicaragua Canal And Other Essays On Political And Economic Topics
The Nicaragua Canal And Other Essays On Political And Economic Topics
Richard Hayes Mcdonald
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00. The farmers through the countrj' have been sold so often by the Republican party that they are pro- testing vigorously. If the wheat fleet already adverted to might go to Liver- pool bearing the product of our soil (which grows not because of the McKinley bill, ) there to receive in exchange the commodities which are needed at home, the materials which OUR COMMERCIAL GROWTH AND THE TARIFF. 45 farmers consume and require, and which are now practically barred out bj' law, would not the agricu...lturalist be benefited thereby ? Here may be illustrated the delu- sive character of the balance of trade argument iu which protectionists in- dulge. Let us assume that Califoniia's wheat crop is worth $23, 000, 000 in Liverpool, and that its owners instead of getting gold for it make a wise bar- gain with their English customers and take and bring home in exchange English goods worth $25, 000, 000. Here, evidently, the balance of trade appearing against us is $2, 000, 000, and yet that sum represents gain resulting from barter in excess of the gold value of the article sold.
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