The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-09-14

Noih, VI tHSy VIII Ilikc tHtlT Own
goods. Twenty years ago, even ten oi
five years ago. you could get as much
for n silver dollar in England as in
China or Japan. Now you can get only
half as much. Gold wages have not
fallen in England. Silver wages have
not Increased In China or Japan. The
results of silver labor, however. sell foi
gold prices when they are shipped
abroad. Thus the export trade is stimu-
lated in these countries, and having to
pay twice as much as formerly for for
eign merchandise the people stop buy
ing abroad and supply their wants al
home.
For these reasons you Will notice that
India, Japan, Mexico and other silver
countries are not only much more pros
porous at present than the gold coun-
tries Of Europe, but their domestic in
dustries are greatly stimulated. In
fact, financial and commercial depres-
sion is almost universal except in the
countries have mentioned. where there
is nothing but silver money. Prices In
England and the United States have
fallen with silver, particularly those OF
eXportable products. while in Japan
they remain the same. Cotton sells for
about one-half what it did five years
ago. silk. which is cultivated with sill
Yer wages. brings twice as much. Trans
portation charges have also fallen.
Since silver was demonetizcd Japan not
only gets twice as much for her silk
but pays only half as much for her cot
ton and very much less for freight in
taking the one to market and bringing
the other here. While cotton fabrics
are cheaper 1t is just as profitable To
manufacture them in Japan. because
the raw material and freights are CORE
spOndingly SO. There Is no additional
cost for food, rent and other necessaries
of life. Wheat and -four are selling at
less than one-half what they cost in
1875. Rice remains about the same.
The price of labor in both hemisphcres
has remained almost stationary, but
from the Japanese standpoint 1t mas
doubled in America and England. and
from the European standpoint 1t mas
been reduced one-half in Japan.
Take the cotton industry as an eX-
ample. The Japanese mills still pay
Is and 20 sen day for male labor and
s and 10 sen for women. In the Unit
ed States the same labor receives $l.5O
for men and Is cents and 81 for women.
But one class is paid in silver. the other
in gold From Il Japanese standpoint
the Americans pay 81 and 81 for men
and 81. so and 81 for women. From the
American standpoint the Japanese pay
3 and 10 cents for men and and cents
for women. However one looks at 1t
the difference is very wide, but the
fabrics they produce sell for the same
prices the world over. Therefore, while
the outlay of one had doubled, that of
the other has been diminished by one
half.
The American and European manu-
facturer has to pay the same rent, the
same insurance, the same price for fuel,
the same interest on borrowed money
and the same taxes that he did ten
years ago. Therefore the difference be-
tween the cost of production now and
then must come out Of his dividends,
and only by the most economical and
skillful management can English and
American manufacturers survive. On
the other hand, the japanese manu-
facturer has suffered no increase in
fixed charges or in the cost of labor and
gets double prices for his products
Where he declared per cent dividends
then he declares 10 per cent dividends
now. The only disadvantage he suffers
is the enhanced cost of new machinery
but the gold value of machinery has
fallen with the decline of silver, so that
his mill and plant do not represent more
tWo-thirdS of the investment that
would have been required ten years ago.
The natural and Irresistible result of
all this is to attract capital into busi-
ness. Old mills are being enlarged and
new ones built. The output increases,
lowers prices, and the man
VINO is working on a gold basis suffers
more and more. This explains why the
increase in cotton manufacturing has
been so great In Japan. But it applies
IN an even greater degree to rice. which
is another great staple, and in which
there Is some competition with the
southern states of America. Also to
SIR fabrics. paper and stationery, and
many other manufactured products.
The first cotton mill was erected here
in 1868 with 5,456 spindles. In 1883 there
We're sixteen mills with 43,7O0 spindles.
In 1894 forty-six mills with sos 4l9 spin
dies. There have been seven new
mills with 100000 spindles already add
ed this year, and several more are
nearing completion. which will bring
the number of spindles up to III 900
before Jan. I, 1896.
The forty mills in the city of Osaka
IN 1874 paid an average dividend of
10 per cent. The highest was 2S ner
cent. and the lowest was s per cent.
The difference was due to management.
The yarn mills pay the best.
Great Britain and Germany have
suffered more than the United States
from the result Of silver depreciation,
because they have a larger trade
abroad ana a more limited market at
nome, and they have not only been
he victims Of honest competition, but
1f dishonorable methods. A certain
number of people in Japan. like those
you ma the world over. are fond of
foreign goods II Is more a matter of
vanity than OF taste The rise in the
prices Al imported merchandise
'inched them. and to meet their de-
nand the local manufacturers took
advantage of the situation by initiating
standard articles that had been
brought from Europe in large quanti-
les. They stole patents, forged trade
marks, produced goods of an appear
lnce to deceive the public. and sold
mem at the old prices. There was
much miserable stuff. but many of
hem were wonderful limitations. This
was the seyerest blow that England
ina Germany have suffered. for the
luality of the bogus articles. rs well
rs the quantity, has improved bv oy-
,erience, and the native manufacturers
nave got n permanent mold uuon n
rade that Is very valuable.