The midland journal. (Rising Sun, Md.) 1885-1947, 1895-12-20
LIVE ISSUES.
Views of Senator Stewart Upon the
Gravity of the Japanese COM
mercial Invasion.

views VI senator stewart Upon the
Gravity of the Japanese COM
mercial Invasion.
The industrial training or educa-
ton of the Asiatics extends with.
out interruption into prehistoric
times. Industry and economy, be-
You'd the conception of an American,
is q part of the Asiatic character.
They can subsist on less and do
more than any other race of men.
There is near one thousand million
OF them. There is no department
OF manufacturing for which they
are not already trained. They do
not have to learn new devices. All
that is necessary for them is to see
manufacturing done and they can
do it. They have been in the habit
for hundreds Of years of relying
upon Europe and the United States
for most of their manufactured
commodities, but when the price of
those commodities advanced from
twenty-five to fifty per cent by rea-
son of the depreciation of silver, or
or more properly speaking, by rea-
son of the appreciation of gold, it
was very embarrassing to the
Asiatic. He rebelled against pay
ing the additional price and com
menced manufacturing for himself.
1t soon became apparent to him and
to all the world that manufacturing
could be done in the Orient at
prices which would defy the com
petition of the western world
When gold prices went down and
silver prices went up the first effect
was to give the advantage of the
difference of exchange to the agri-
culturist of Asia. The competition
with the silver standard countries
OF Asia in supplying Europe with
agricultural products has already
reduced the price of such products
below the cost of production and
created gloom and despair among
the farmers and planters of the
United States. 1t took more time
to develop manufacturing in the
Orient and the manufacturing of
the United States Knocked at the
caiamities of the agriculturists, but
their doom is at hand. The differ
ence of exchange, which is now
fully fifty per cent, enables the
Asiatic to sell products produced
with his cheap labor in Europe and
America for one half the nominal
price in his own country. He has
learned this advantage and the Jap
aneSe and Chinese commodities are
already flooding the markets of the
Western world. But the flood has
just begun to rise, which is destined
to destroy the manufactures of
every gold standard country in the
world. 1t will be worse for the
manufacturers than it was for the
farmer. The farmer could do some
thing with his farm while he could
live on it and raise supplies for his
family, but the manufacturer can
do nothing with his establishment
when his competitors can sell for less
than one half what it costs him to pro-
duce. The reconciliation of silver
will check the influx of Asiatic
goods and equalize prices between
the Occident and the Orient. 1t
will not, however, prevent the
Asiatics from continuing the indus
tries which have been inaugurated
by reason of the difference of ex-
change. What will be necessary
to do ultimately to guard our conn
try against competition with the
coolies of Asia is a question which
we need not now discuss. Imme
date relief can be had by the pc,
monetiZatiOn of silver and by no
other means.-WM. NJ. STEWART,
in The Silver Knight.
The Financier, the leading bank
paper of New York, has apparently