This excess, according to the writers we have quoted, represents the sum by which we have grown more wealthy in 1880 than we were in 1879. Is it possible that any one with a mind capable of comprehending facts and their meaning can really believe it?"
Ib. p. 288.—To buy more than we sell, and to make that not a mere accident of our trade but its permanent condition—the end above all others to be sought for and desired—this, according to the economists is a most excellent thing for the country. Practical men who look at such matters from a strictly-business point of view, come to a different conclusion. They hold that we cannot persevere in this system without plunging the country into disaster.
… As one authority (Mr. Shaw-Lefevre, M.P., 27th June, 1878) puts it, 'the magnitude of our import trade, so far from being a matter for alarm, is evidence of the greatness of our resources and the stability of our position.' This is one of the most blundering and most mischievous of the delusions which have helped to blind a portion of the people to the true state of their affairs."
Sir Edward Sullivan, Bart., Nineteenth Century, August, 1881. p. 171.—"It [Isolated Free Trade] has enabled foreigners to flood our markets with cheap, and often nasty manufactured goods." "It has increased the balance of trade against us, till it has reached the alarming figure of £136,000,000." P. 176.—"In the face of these facts we are warranted in again asking our economic philosophers how we are to continue to find money to purchase foreign food. The food question is at the bottom of our commercial troubles; we are buying food from abroad faster than we are making money to pay for it. But of course this cannot last. Until the immense and increasing excess of imports over exports, is considerably diminished, there can be no return of general prosperity. We may for a time draw upon our capital and our accumulated wealth, but for how long? If we cannot get as much for our goods as we are compelled to pay for foreign food, the deluge must be at hand."
Nothing can be more clear and distinct than the issues
