Brann The Iconoclast, vol 10
Brann The Iconoclast, vol 10
Book Excerpt
unnecessary to say more on the
subject--that arguing the matter were like wasting time proving
that water is wet; but as a number of Republican papers are
having a serious of violent epeliptoid convulsions because I
recently asserted that a nation can only be paid for its exports
with its imports, it may not be amiss to make a few remarks
adapted to the understanding of the kindergarten class. Trade,
whether between the people of this republic, or those of Europe
and America, is, when reduced to the last analysis, nothing more
than an exchange of commodities. It may happen that we sell
largely to a country of which we buy but little; but the nations
that purchase of our debtor pay for our products. Our exports
usually exceed our imports, and for the simple reason that we owe
vast sums abroad, the surplus being employed in the payment of
interest and the discharge of our foreign indebtedness. When we
become a great creditor nation like England, our imports will
exceed our exports--we will begin to absorb the
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