The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1893-12-31
GOSSIP FROM ABROAD.
Its ohIef Causes and Augurios overpro-
auction and l. quidaiion- Personal
Initiative vs.. Paternaiism--Ci Ger
many's Labor strikes.

| The Americans have learned to see,
says writer in the Grensboten, the well
known magazine OF Leipsig. Germany.
that "the Mckinley net has done much
haiin. II has made miillonaircs OF a few
individuals but the masses nave suffered.
The people have awakened to the fact
that sucn tariff as that passed under
Harrison must ruin the country lnevita-
bly,, and far quicker than any other
measure, the Sherman act not excepted.
However, the sensible financial policy OF
the present government, resulting in the
repeal Of the Sherman bill, can not rnl
have a beneficial effect. English Scot
tiah, Belgian and Dutch capitalists are
extremely willing 10 Invest In the United
States. And that even in the conservative
German may be won for somewhat un-
certain American ventures is proved in
the case OF the bankrupt Northern Pacific
Railroad company, which drew much Ger
man capital, through the influence OF the
Deutsche bank OF Berlin and Mr. Willard
OF New York, A financial crisis Of this
kind can not last long In America. The
country is too young not TO revive
quickly
Speaking OF the causes OF the present
crisis In the United States, the writer
accounts for 1t in the following: The old
policy of protection did not at first have
q bad effect upon the United States. High
duty enabled employers to nay wages
twice and three times as high as else
where and the laborers had a chance to
build homes 0r themselves But the
Americans have long since departed from
republican simplicity. The chase after tile
almighty dollar has grown to be tho CHIEF
aim Of all, and the poorer are now sys
tematicaily pinndered by the rich. The
number OF independent manufacturers
ana tradesmen was diminished and the
capitalists succeeded In getting ever hiph
er and higher protective tariffs nasse5
ostensibly this was done TO enable tho
capitalists TO pay their laborers higher
Wages actually, however, tt resulted in
Tue most Shameless plundering OF the peo-
pie by the monopolists. Higher Wages
we're promised to the worklnen eveT.v-
where, but all the profits OF proteetion
Went INTO the pockets OF the capltalistz.
ene wares were lowered throughout the
country and the cost of lEvinf. fncreayad
But protection resulted in tbe estsl,ita,,
ment OF fresh enterprises and factories
ana towns and cities sprang into existencs
With q rapldity almost InconYnrebe,sI,,,,
70 europeans This state OF affnirs co,,id
not last. Thr.reaction had to noInn a,,1
Y came More goods were produced H.,
lar ttian were asked for or coi,ld NJ
sysN' ne specter OF OBSERVATION-DISCLOSURES,
aioss, ana With u the bogy OF claudia
49,, o9t az this would not have caused
such great crisis IL the confifIcsss ~
europe had not been shaken paa1ta \
leareu that the Emitted States was 81.
pr9aehinE the day when 1t could nd Inns-s, |
meet ~ obligations BY gold nay,,,a,,,.
inns fear IS gronndless. bit II stnn,tlsa .,,
ihhux 81 European capital to q cefta,n -
.ehi' ana thus hundreds Of factories has /
70 be closed soiiss naa
lANpiyipuAL INITIATIVE VS.. orr.
SIDE AID.
ne poverty and financial stratts ~
4. recent writer attributes iar.seI,, y
y ~ 800 q private initiative on the Tart I
Y sne people Of that countt-,. n.t,,sst
y spn,s.cquence OF their past n,,itics sT,,a
tallans. he contends, ARE si,ffsrtns, i. u
.ne eiIeets Of too much Eoveyn,,lAnt 49, 49,
merry everything was lone for fbs,o Il, Z
teeu' durins the reirns ~ sotnS IL ft,si.
/ a,,a ls,tfy ru-ers 10 exhibit enterpr.sc Z,
lafs any Independence Of fliafs-,5f 49,,
e make ones self SUSPECTED n 49,
/, y e-s7ssv ernsds times ami iiltIa statss4
- ~ is,opie %sre So nampered and coil.e,l
,tft ttiey iuSt The power to act for fbs,,
.eives Even now that italy bas hse,
t.tssH MO one strong KINGDOM fnllv
teens o. The population are
ihese people, he says. are the very -.
1erse or the German and Antrlo esa,se
i9ipnlslS IN America. Australia n IA Agrics
Snere men ask on.y OF the roverTy,s,,t
'.1seStiph LOT their lives ami nroperfv
~ sneh push Forward energetlcaily ii
ny hne Of endeavor. In South AnsrJcs
lnwever and to a large extent IN f.entsaii
American. to be1evs 4 Naxiear c.,,,t,s,s