208 LAND AND LABOR. 



normal employments of the war, back upon the nor- 

 mal industries which were already full, and where they 

 were not wanted, started a demoralization in all our 

 industries, and a rapid decline and shriveling of all 

 our business interests that, though for a time hidden 

 by the fever of credit and speculation that followed 

 the war, have brought our industries and trade to a 

 lower point than ever before, and still we seek lower 

 depths. 



Does foreign trade pay at the cost at which we pur- 

 chase it ? Are six hundred millions of foreign trade, 

 which we have gained, worth more, in dollars and 

 cents, than eight billions of home traffic, which we 

 have lost ? This is the question, squarely put, with 

 the evidence on which it is based. 



The truth is, there can be no greater folly perpe- 

 trated by our nation than that of seeking to employ, 

 or in any way to benefit, our own people by producing 

 or manufacturing for any other. The reasons why it 

 is so are abundant and obvious. I will give a few. 



1. No people without domestic industries can possi- 

 bly be permanent or profitable purchasers of foreign 

 products. It is with a nation as with individuals 

 by and through its industries, only, can it exist and 

 become a purchaser in any market. 



2. Every nation that sustains an industry must and 

 will employ that industry in producing that which en- 

 ters directly into the consumption of its own people. 

 That nation which is compelled to depend on the for- 

 eigner for either food, clothing, or lodging, is wanting 

 in some of the elements of permanent prosperity. 



3. Every country advanced in its civilization must 



