The Caucasian. (Clinton, N.C.) 188?-1913, 1895-12-19

Ruin Staring Both Manufacture and Pro-
Queer In the Face-Not to Have Financial
Reform Means ImmeasurabIe Confu-
sion and Great Desolati"n-LetG oIdbux
Organs Answer.
Philadelphia Item.J
A dispatch was lately sent East from
San Francisco saying that japanese
agent had taken very large orders there
for goods to be made in Japan and to
be delivered here free of freight and
duty at from 80 TO 100 per cent. less
than prevailing wholesale prices of the
same goods; and that agencies for such
japanese goods are being established
in the principal cities of the East.
A number of our large manufactured
products were described as being in
cluded in this competition from Japan !;
this list of products, however, is sec
Ondary TO the fact, that Japan i'm con-
sequence Of the low costs of labor there.
and the 100 per cent. bounty il has
over our manufacturers in the differ
ence between the price of silver bull
lion compared with gold bullion, is now
able to undersell any class Of goods
made in this country.
Take a case of cloth as an example.
This case sells in this country for $500
but costs the American manufacturer
$40 at his factory.
The Japanese manufacturer buys
American looms and the necessary ma
chinery for making this same cloth.
and succeeds in making it fully equal
to the American.
Without counting the differences in
the cost Of labor which are supposed
to be offset, whether such is the fact or
not, by duties on imports to this coun-
try, the Japanese manufacturer finds
that he can make this cloth for $40 Der
case in the silver currency of his own
country.
This japanese sends his salesman to
the United States and instructs him to
sell the japanese cloth for 500 per case
in gold, which 10 of course one half the
price that the American manufacturer
has been selling it for.
The quality being the same in both
instances, the Japanese salesman
drives out of existence all manufac-
turers of that cloth in the United
States: permanently closing all Ameri-
can mills in that line.
For the 800 in gold the Japanese
obtains for his case Of cloth, he gets in
the exchange market 5000 in silver. As
the case OF cloth cost him $40 silver
he makes a net profit Of $50 or Is per
cent.
This illustration Of a case of certain
kind Of cloth applies with equal force
to every class of goods manufactured
in the United States that the japanese
are able to produce, hence the POSSIBLE
ity Of japanese manufacturers selling
as described in San Francisco and ruin
ing all the manufacturers of the Uni
ted States, solely for the reason that
the United States has no free-silver
Law.
For if the United States had a free
silver Law, silver being sold like gold
TO the highest bidder would at once
rise in price to that allowed for it in
the United States mint. The restOra-
ton of the old par price of silver COM
pared with gold, would at once, Of
course, stop the japanese running
American manufacturers, except in the
particular advantage Japan has in its
low cost Of labor. But, rs above said,
this latter advantage is supposed to be
offset by a tariff on imports into the
United States.
While Japan is mentioned in the
above instance, it must be remembered
that the same condition applies with
equal force to every silver basis cOun-
try, provided sufficient skill exists to
make such cloth rs good as is made in
this country, or make any other class
of goods.
1t must also be remembered, that any
of these silver-basis countries can and
now do in part, eli in the same way to
every gOld-basis country in Europe.
and IL American manufacturers have
been selling their manufactures to such
European countries, any silyer-basis
country can easily shut out American ms
from any more European trade of tia;
kind.
OF course, all this programme takes
time for accomplishment; but IA. to ir
plenty clearly show that things .re
now rapidly drifting that way.
1t is not an opinion, but plain state
ment Of fact, when il is said here. that
free silver is an absolute necessity for
the preservation Of this Nation: with
out free silver, ruin stares every pro-
ducer. farm and factory, in tie face.
Ii there be . single goidite news
paper able to stand such . result and
live, The Item would like to know IL.