Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1878-08-24

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BY the Philosophers
Many moatks asse elapsed, and the
hgure mongers are evidentiy beginning
to have their eyes opened We no longsi
read in the Tsns city article that Eng
land canno, possibly suffer from foreign
competition. American calicoes are in
every dry good s,ores-American iron Ii
being used on English railroads. The
change seems incredible, but have
looked very carefully into the facts, and
there cannot be q moments doubt with
regard to them. The Trade Returns for
May, which we're only issued yesterday,
discloses startling state of affairs--start-
ling, that is to all who have an eye for
facts, and attach more importance to them
than to theories. The exports again show
falling of Of over ~ per cent. In all
departments of the cotton and iron
trade we sell less and less to former Gus.
toners. The writer of the Times city ar
ticle is now fairly scared. Speaking Of
iron and steel manufactures he says: AT
present it is trade, which must mean loss,
and perhaps ruin in the long run, to i'm
portant sections CT the community, for it
is a trade carried on at an obvious loss
Now, when this very result was foret0ld
not long ago in your own columns and
those Of one of your London contempt.
raries, the Times, Mr.. Giffen and other
political writers treated it as mere dis.
play of stupidity and ignorance. must
say that wish it had been that and moth
ing more, for it is not pleasant to see a
national trade falling into decay.
But what has all this got to do with
American readers, some one may saya A
good deal. In the first place, it is
America Il hope Mr.. Grant White will
allow me to use that world do not
know of handler one) which is the most
active and most successful competitor Of
England in her present markets. Then,
again, Americs not only takes away Eng
lands foreign customers, but is under
selling her at her own doors-in London,
Liverpool, and every large town. While
thus cutting her commercial resources
down, she (Americs) grows harvests which
no other country is able to produce and
which England is obliged to buy. This
year, l understand, you will have very
fine harvest. I can only say that it will
be wanted in Europe. Russia has not
grown much more grain than she wants,
and the yield here will be comparatively
small. Europe must 60 across the At
lantic for what she needs to make up her
deficient supply of food. And then rec
ollect that it is not for grain only that
England now comes with money in her
hand to United States ports. The sale
of American beef is simply enormous,
considering that even when I left New
York in 1876 the trade was almost, il not
quite, unknown. And now we pay some
thing like 10000, 900 year for Ameri.
can beef, and the business is constantly
increasing. So that for the s'staff of life, u
and large proportion of meat consumed,
this country must now depend very
greatly on the United States. These
are the facts, draw from them what con-
clusion you will. There is one ccnclu-
sion which l should be disposed to draw
namely, that this state of affairs must
inevitably restore your long lost pros
perity. It is an i'll wind that blows no
one any good. Foreign capital must nee
essarily pour into the country, making
up in large measure for the losses OF
the last few years, and infusing new life
and energy into all departments of trade
This is as certain as that the sun will
rise tomorrow. The recovery of trade
in America does not depend upon ACCT
dent of artificial causes, but is being pro-
duced by fixed law-for there are such
things in connection with the commercial
as we'll as the physical world, although
they are not by any means what the
physical economists suppose them to be.
Ny American friends whom l zee over
here do not, indeed tell me Of any great
improvement yet, but how can it fail to
come when you have suddenly enlarged
the circle Of your customers so rs to in
clude half the earthl Your cottous sell
better than ours in India China, Australia
and Nsv Zenland. We must come 20