Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-11-13
Hold Fast to our Industrial P"li-
cy.-Alarm of the British Capt.

Hold Fast to our Industrial P"li-
cy.-Alarm of the British Capt.
talists.
The gradual, but sure operations OF our
tariff Policy to liquidate our national debt
by taxing foreign importations and thus in
cidentslly fostering our national industries,
is thoroughly opening the eyes of English
capitalists and manufacturers. That the
people of the United States with their vast
resources have become something more
than producers of ra,c material TO feed
foreign machinery and supply the de-
mands of foreign labor, English states
men more clearly comprehend to-day than
at any former period. Hon. c. S. Reed,
British member of Parliament, in speech
o few days since at meeting of the Wal
sham Agricultural Association, remarked :
"He regretted that agriculture was suffering
from such protracted depression, but all the other
industries of the country also in depressed
state. We had had our financial psncs and our
monetary disasters every ten yesrs-iu io4o, W
1857, and 1867. and people felt sure that IN 1871
there would be another panic. Mr.. Gladstone had
said that the industries OF the country were n-
creasing BY leaps and bounds, and that the riches
of che country we're Accomplishing at the rate OF
flO0 900 per day. Now the same great statesman
told us that all our profits had either gone to the
dogs or the Yankees. He did not quite believe in
the whole of this statement, but be thought that
considerable amount Of the depression which at
present prevailed in trade was to be ascribed to
bad and dishonest work. We had had what was
called free trade for nearly 80 years, and we were
told that if We adopted this policy the whole world
would adopt it also; but had it been sol On the
contrary, nearly every foreign country, and also
our colonies had adopted protective tariffs. While
in the first eight months Of the present year our
imports were $3.50 900 900, our exports were only
fl2S0OO 600, while in the case Of the United
States precisely an opposite state of things pre-
vailed, and the exports were double the imports
The China correspondent of the London
Times, in communication to that great
organ of British opinion few weeks
since. writing from Shanghai, one of the
principal commercial cities OF China, gave
the following highly significant facts:
The extraordinary trade depression of late
years prevalent throughout the Western world has
Of necessity had considerable effect on the trade
Of China, and particularly on that Of the great dis
tributing centre Of Shanghai. There was a slight
increase in the import of opium in 1877 over 1875,
resulting 10 . revenue to the Chinese government
but in spite Of that the total revenue Of the port
a. shown BY the Imperial Custom. reports, fell
from It's. 900 in 1868 TO It's 3,269. 900 in 1877
At times when market after market is being shut
10 English manufactures by protection or by com
petition, one naturally scans the trade report of so
important consuming country as China to see if
there is any probability of England finding q mar.
ket in the outlying parts Of the world for the
plls production she cannot now dispose OF in mar
kets nearer home. The grand totals of the i'm
ports and deliveries Of English cotton textiles all
show . considerable falling Off and although the
widespread destitution in some of the northern
provinces may explain this to certain extent this
sxplanation does not exactly square with the re-
cent conditions Of China trade in these fabrics
For simultaneously with the decline in the con
sumption of English cottons there is a marked in
crease in the imports certain classes of American
cotton good, notably drills. sheetngs and jeans.
OF the first mentioned the import has risen from
1850 bsles in 1874 10 1862 bales in 1877; of the
second from 1875 bales in 1874 to a. 46l bales in
1877; and Of the third, from nothing to 1900
bales. For this extraordinary phenomenon there
ere too causes alleged-the excellence of Ameri
can goods ~ compared With English, and the state
of the home market in America. The sdutera-
ton Of Lancashire fabrics is apparently, an incur
able evil. because, and this is the opinion OF al
expert, II pays English manufacturers better to
sdulterate than to be honest. Chuamen, they
az, actually prefer goods which are filed; the
taste 10 An acquired one but now that it has been
created honest cloths are at at discount. This
ples Of paying business is the only justification
Of the Lancashire manufacturer The American
manufacturers, to their honor be it spoken, have
steadily set their faces against sizing, sduteraton
and the different chemical manpulatioDs that pro-
mote weight at the expense of wear; but yet for
ysars their imports into China were trifiing and
The business In them Improbable Their trade
with China has recently expanded in a wonderful
manner, and whether that trade be o profitable
one or not it 10 certainly an object Of legitimate
pride to the American people that in China, in
spite of floods and fsmnes, the sale of their cot
ton goods 10 largely increasing, and that their
goods deserve the credit for purity which they
doubleday get. Another cause for the increased
trade in American piece goods here is alleged TO
BE- and with some show of reason, that the output
Of American mills has far overrun home consump-
ton, and that their excessive production il being
fsrced not only on this market, but even on Eng
land. A year or two more will prove or disprove
this hypothesis, for it is not in human flesh and
blood, especially If that aesh and blood be Amer
lean, TO keep on selling goods for less than their
cost Of production or to keep the looms at Fall
River and Lowell working simply in order that
John Chinsman may array himself in unsdulterat
ed cotton at any price be may choose to pay. New
Eagland 10 philanthropic county, but to its phi
lantr0phy there limits, of which fixed deter
minston that the improvement in the clothing OF
the Chinese or any other people shall not be made
at the expense Of New England citizens may be
said 10 be one. The main facts of recent trade in
cotton goods here for which merchants are seek
ing explanation are these-that in ear of great
distress and famine the import into North China
remains about the average Of 200, 900 pieces
that pdSi passu with decline in the i'm port from
Great Britain there Is an increase 10 the import
from the United States; and finally, it is asked
whether the causes winch have produced this
change in the trade current are only temporary
and variable, or are likely TO be permanent and