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Chester A. Arthur

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Experience has shown that the trade of the East is the key to national wealth and influence.
--
Veto message of Chinese Exclusion Act (1882).

 
Chester A. Arthur

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We hear those in the national Congress running around and saying, 'Free trade, free trade, I am for free trade,' when they know free trade is like dry water. There is no such thing.

 
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Now, what is the policy? It is, so far as we know, to interfere with the established fiscal policy of this country in order to promote the union of the Empire—that is to say, it is to affect gravely, if not to sap, the foundations of the edifice in order to promote the stability of the structure. (Laughter and cheers.)...Had free trade failed us in the 57 years of experience we have had of it, had we found ourselves with a shrinking trade, a diminished revenue, a population on the verge of poverty, we should long ago have reviewed the whole system of free trade and reconsidered it. But we find ourselves, so far as all statistics can give us a clue, at a pinnacle of wealth such as no nation of the size has ever reached in the history of the world...The Empire is built up on free trade...your Empire is founded on the condition, and it could not have existed until now except on that condition, that every self-governing part of it shall have the right to work out its own prosperity by its own methods. I do not know why it should enter the heads of any statesman to deny that liberty to the United Kingdom.

 
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You have power, rank, command, influence; we have wealth, the source both of our strength and weakness; the value of these toys, ten times multiplied, would not influence half so much as your slightest wish.

 
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It would be too ridiculous to go about seriously to prove that wealth does not consist in money, or in gold and silver; but in what money purchases, and is valuable only for purchasing. Money no doubt, makes always a part of the national capital; but it has already been shown that it generally makes but a small part, and always the most unprofitable part of it.

 
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Today there is a new class hostile to business in general, and especially to large corporations. As a group, you find them mainly in the very large and growing public sector and in the media. They share a disinterest in personal wealth, a dislike for the free-market economy, and a conviction that society may best be improved through greater governmental participation in the country's economic life. They are the media. They are the educational system. Their dislike for the free-market economy originates in their inability to exercise much influence over it so as to produce change. In its place they would prefer a system in which there is a very large political component. This is because the new class has a great deal of influence in politics. Thus, through politics, they can exercise a direct and immediate influence on the shape of our society and the direction of national affairs.

 
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