The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-07-07
cnpAP SILVER ANp Low WAGES


One argument used by the silver extrem-
lists of the United States Is that the ddop-
ton OF their panacea would enable Amer
leans to sell their products at greater ad-
vantage as compared with those of other
countries. And about the only argument
used In Europe in favor of ''blmetallism'
Is the plea that its adoption would SINH
lGrly favor the producers of the different
countries there in competition with those
of India, China, and other cheap labor
lands, the currency unit of which is
monomctallic silver. The latter plea Is
set forth very strongly In papers pub
lished by Sir Henry M. Meysey Thompson,
which were sent to him in competition for
a prize of $3.50 to be awarded for the
paper pointing out most clearly and
plainly the loss and Injury caused by the
''rlse in the value of gold"
II appears from these papers that the
manufactures of England, especially thoss
engaged in the cotton Industries, are los-
ing more and more every year, and that
Germany is in a similar bad condition.
The reason for this is that the silver
using countries are manufacturing for
themselves. Large cotton factories have
been built and others are being erected
in China, and 1t Is found that the ordinary
into an efficient mill hand, working for
ITO 10 cents per day. The Japanese have
imported machinery and the best Of skill
from Europe. The cotton spinning and
weaving Industries have been introduced
into Bombay, where the cost Of produc-
ton Is so much smaller, owing to very
low wages, that Bombay yarn has become
a dangerous competitor with the Lam
cashire yarn In all eastern markets. But
to-day, In turn, the Bombay manufacture
ers find serious rivals In the cotton mills
OF Japan and China. Besides cotton the
Japanese have successfully introduced the
manufacture OF beer, gun powder sad
dlery, cement, matches, printing paper,
SOAP, bricks and leather and minor In
dustr,es. with the result that imports
OF these articles from Europe have prac-
tlcally died out, and they are supplying
goods Of these classes 10 all the neigh
boring silver countries. The latest con-
sular reports also indicate that Japan
soon VIII be independent OF foreign iron
and sugar. The cultivation of raw cotton
is making great strides in China, much
OF II being shipped to Japan. Mexico fol-
lowing the example OF Japan and China,
Is turning out FIRST class cotton prints by
The aid of fmportatlons of the finest Eng
Sir Henry claims that at this present
moment work Is being done by Indian,
Chinese, Japanese and Mexican workmen,
which now would be In the hands OF Eng
fish, Scotch, Irish and Welsh worlSmen II
the divergence OF value between silver
and gold had not taken place or II the
English government did not obstinately
oppose any reform OF the present none
tary laws" Supposing the first part Of
this allegation to be true Is It at all
likely that the business lost TO the British
islands would be brought back there by
change In the policy OF the government
on the silver question? There is no reason
to think 50. On the contrary, the diver
Sons complained OF are but instances OF
the march OF modern progress, In which
the capital Of Englishmen and others Is
being Invested where II can be most pro-
fitably employed the item OF labor be-
ing q highly Important element In the
total cost OF production. 1t may be that
the changes noted were accelerated by
the widening Of the ratio between gold
and silver, but it must have come anyhow
and cannot now be stopped by any pos
sible legislation In regard to the money
metals. With such an abundance or
available labor In the countries named
as beiag rivals to Great Britain Il always
can be commanded at a relatively low
price. II silver could be llttd BY leeis-
latlon the wages Of those foreign toilers
would bo reduced, and II gold were de-