Brief for the Affirmative.F. F. Causey, '90, G. O. Swasey, '90,
Best general references-"Trade and transportation between the United States and Spanish America" by W. E. Curtis; Recent Economic Questions by David A. Wells.
I. The larger the foreign trade of a country, the more prosperous that country. (a) This is true because international trade takes place only when and advantage is gained-J. S. Mill's Principles of Pol. Econ.
II. The United States needs an enlarged market for its products.
III. By gaining complete commercial reciprocity between this country and South America we would greatly enlarge our trade and remove all the barriers which now exist. (a) S. A. produces many asricultural articles such as raw material which this country greatly needs. (b) The United States produces many manufactured articles which the South American states would be glad to have-Reports from the the Consuls of U. S.
IV. South American states constitute a convenient market for the United States and are our natural consumers. (a) The United States is nearer South America than the European markets, and South America would therefore trade with us on better terms. (b) All South American States are strongly inclined to a Republican form of goverment and therefore are more insympathy with our country than with monarchies, and commercial intercourse is natural.
V. The reciprocity must be complete because if incomplete retaliatory legislacion would be resorted to which stifles trade.
VI. Complete commercial reciprocity would secure the application of labor in the most advantageous way. (a) We would employ our labor in producing those commodities in which we have a comparative advantage and export excess to South America. (b) South American states would confine their labor to most productive channels and export excess to us.
VII. Summary of the advantages to be gained by a complete reciprocity.
Brief for the Negative.W. K. Pot, '90, and F. L. Olmsted, 90.
Best general reference: Trade and Transportation between the 'United States and Spanish America, by W. R. Curtis.
I. The effect of complete reciprocit on the revenue would be unfair and disastrous. (a) Removal of all customs duties would be a greater concession on the part of the United States than on hat of South America-Report on Commerce. (b) The very best articles for revenue would be exempt from duty-Cur is, pp. 40, 48 etc. (c) A great source of revenue in the case of emergency would thus be cut off-Speech of Senator Morrill, February 3, 1875, Congressional Record.
II. Complete reciprocity with South America is prevented by our treaty obligations toward other nations-U. S. Treaties and Conventions.
III. The South American states do not afford the best field for American enterprise-Public Opinion, November 2d, 1889; Curtis, 62-3, 109.
IV. Economic effects of free intercourse would be disastrous. (a) By increasing competition in staple products-Curtis, 66-68; Stebbin's Manual. (b) By extending the benefits of our protective system to poor states without increasing our own advantages-J. S. Mill; Taussig's Tariff History.