The able Senator from Mississippi dwelt with some emphasis upon this proposition in his address this afternoon. It is partially true. and we shall always buy to an enormous extent certain noncompetitive raw materials and other commodities. but it is highly important to realize that it is not wholly true. because except as we do realize that it is not wholly true we will be led into certain specious conclusions. as was my able friend from Mississippi this afternoon. For example. in the 38 years from 1896 to 1933 our tourist expenditures and our immigrant remittances abroad amounted to more than $19.000.000.000. During the same period our shipping and freight services rendered to the world. plus our interest and dividend payments on foreigners investments in the United States. totaled another $19.000.000.000. That is a total of $38.000.000.000 in 38 years in other things than imports available to balance foreign accounts.
Keywords matched
immigrant