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Politics : Politics for Pros- moderated
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To: Ilaine who wrote (127400)7/25/2005 6:16:24 AM
From: JDN  Read Replies (1) of 794399
 
Except maybe in WWI and WWII I suspect America has always had a negative balance of payments problem. In our early years we were an agrarian economy and we shipped cheaper raw materials overseas and bought more expensive finished goods. Yet, Abraham Lincoln said something that I read in my youth, dont remember the exact words but I have never been able to fully refute it in my mind. It went something like this:
"All I know is I have on my head this fine Beaver Hat and the gentlemen overseas have my currency, I fail to see how that currency would keep my head warm in the winter" jdn
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