The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1895-09-16

yelop ccal mines and build factories. The
inducement TO this lies in the fact that
wages In all silver-uslng countries. former
~ cheap, have now. by the fall In silver. De-
come 20 per cent cheaper; or to put II In a
different form. wages In goid-ushhs
countries, through the appreciation OF soiu'
have become loo per cent dearer.
''Giyen an equilibrium of prices at any
moment between slver-using ana golu-
using country, any subsequent fall in the
silver must have one or the other of two
results-either the gold price must fall or
the silver price must rise. The exchange
able value of any article Is. within a GER
tain limit. representing costs OF transport.
necessarily the same all the world over.
For example. a bale OF cotton has the same
exchangeable value in Liverpool, Bombay
or New Orleans allowing for a certain fixed
margin, representing costs of transport,
merchants profit and duty, If any. When
ever an article becomes cheaper In one place
than in another there is n profit in export
ing IL. a flow sets I'm from the cheaper to
the dearer, until the ordinary equilibrium
Is restored.
with wages however. II is different.
The price of a days labor I'm Bombay bears
no relation to the price In Liverpool If.
indeed. we could import cargo of coolies
as readily as We import cargo of cotton,
the adjustment would be rapid. But the
standard OF wages In any country is resu-
lated ON very different principles.
lie gives this illustration: Suppose two
cotton mills working, the one in England
and the other I'm Japan or China, and COM
peting with one another for the sale OF
their productions. and contrast the posi-
ton of the two in 1873 and 1893. Let US
assume that in 1913 they We're competing on
even terms, that is, that each realized TO
the owner the same profits. In 1894 each
employs the same amount of labor as II
did in 1873. which the English pays for in
anNA EsrsF In
silver, also at the old rates. The japanese
mill owner still pays for his men. as he
used TO. is TO 20 cents n day. and for his
women to 10 cents a day. In 1873 that
meant 81. to l0d. per day FOR men and ID.
10 81. for woSen. Now. it means just one
half. that is, III. TO ID. ami "a to 2l2d.
Multiply this over s.uo0 mill hands and see
what the saving Will be on labor alone.
Bat this is not all. The same adj
vantages accrUes ON the coal bill.
JAPANESE coal cost them. say from 81 10
s. ton. which meant 10 to COS. That now
only means To los. The same thing APP
plies to rents. wages, taxes and all fixed
charges whatsoever. They are all pay
bile in silver anu have In no wise varied with
the rise in gold. only in the single item of
raw material is the old equality maintain
81. Both are free TO buy that. wherever
they can find IL cheapest on tho worlds
market the only advantage being proxim-
lily 10 the best source Of supply and. con-
ssquently. economy Of transport"
H. says the same argument applies to
the making OF machinery in silver stand
arb countries. and. indeed. OF almost every
article England has boon supplying silver
using countries with.
The result Of an this viii lead to a grad
ual transfer ot the seat Of all the great
manufactures from gold using TO silver US
ing countries
Had NOT This ,attrramrv srossflo artisan
he says. England would easily have been
enabled 20 maluuu her Industrial supreme
cy and - pay her lahorers higher wages
than were paid ia amy other country. but
the divergence OF the old values Of gold and
SILVER - aS much as - Per cent has on
ureiy altered conditions. coal Is no longer
relatively cheap im England. nor is iron.
I-ihor Is ioo per cent drarer m relation TO
silver wages than ID was. We have no
monopoly of scientific machinery Oriental
nations can buy the best that is produced
aud they can engage skilled workmcn TO
teach them how 10 beat as at our own
trade.
The consequence OF au this IS what
nltShf T. eNpe stcd. WhllH ull established ia-
dustri"s IN England are in many eases
barely paying expenses. new aud rival in
nGstries an the far east are spriuging up
broadcast. aud in spite Of inexperience ana
"NtfaNaEAure 10 msnAErmeut are paying
handsome returns 10 their owners"
Til" United States is as vitality Interested
in this matter as England While Ensland's
exports To- Japan are yet great. they win
continue 10 decrease year by year as manu-
factories Grow ia the orient. America con-
uuu"s 90 nuy more each year from Japan
particularly since the Japanese manu-
iactarer has learned 10 manufacture in
Imitation of American patterns. We sell
"a Japan bat little.
Thousands II cotton and hemp carpets
are made In Osaka ton orders from New
York houses that supply patterusl and
shipped t. New York annually. The cot
ton from which they are made comes from
America via Liverpool The New York
firms End they can import them from here.
paying duty on the same. cheaper than
they can bc made iu the United States. Il
is the same in ehiaaWare. vases and pot
terry. / saw ia kiot1 several days ago a
Japanese factory making an order Of
several Thousand cheap satsuma vases
for New York house. And IA
a Japanese silk house / saw several thous-
ani cheap embroidered table covers being
packed for shipmtat tu New York.
American manufactured goods oT almost
all kinds are beginning 10 De- initiated here,
not only Tor consumption ln Japan, bat
Tor shipment throughout the east and in
many eases ID America. VITA Japau's
cheap labor and her money standard but
half ours, unless something Is done to re-
monet .Ee SILVER our manufacturers ami
hbaferS must suffer. the wonderful pro-
asre>s Japan has made during the past
twenty-five years has surpr Sst tine world.
WITH the advantages her money standard
gives ner, the ambition and SIKH OF her
people Will make her one af Ihe greatest
manufacturing countries nu earth within
another quarter OF "A century
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