The herald., 1895-01-05
OUR GOLDEN AGE.

During the recent session OF the sew
en,h annual meeting OF the American
Economic association at Chicago. an in
terestine and instructive paper was read
by Washington G. Foid. chief of the
bureau Of statistics, on Our Tfade With
the East.
MIR. Ford called attention to the facts
of history, showing that il was not very
long ago that the east wss regarded as
the sourcs OF fabulous wealth. There
was good reason for this. Wherever
the eastern trade centered. there was
to be found mercantile opuleace.
which carried with it and maintained a
spirit of enterprise and a liberal political
element, giving birth TO cities and states
important enough to rank among the
first.
Consi an tinople, the Italian repu blics,
Holland, and. finally, England, bear
witness to this TACT. while commercial
discovery, encouraged by greed Tor
profit; diplomacy, rendered unjust by
the law of the stronger, and the imposi-
tions OF mercantile selishnsss have
sought fret to monopolizs and later to
share the possibilities OF eastern trade
In this contest for influence and COM
mercisl supremacy the United States,
though last to come, has borne its full
share. Even before the founding OF the
government, American vessels had
brought in csrgoss from Asia. We
have shared in all the benefits. COM
mercisl and other. which Europe had
extorted from the unwilling people Of
China, Japan and India. We have even
borrowed a leaf from Chinese policy,
and have listened to the teachings OF
come who would isolate the commerce
and industry of the United States as
rigidly from Europe and European COM
petition as China has wished to be
isolated from the outside world and Of
others who have succeeded in excluding
Chinese from our territory as effectually
as China has repelled the introduction
OF foreigners and foreign ideas among
it's own people.
For general purposes, the east in
cludes China, Hongkong, Japan, Brit
ieh India, and tho East Indian possesa-
ions of European countries. In making
n study of their commercial conditions,
it will suffice to consider China, Japan
and British India. These three coun-
tries agree in this, that they are almost
purely agricultural communities.
However largely eastern products have
figured in past history and commerce,
they have lost any peculiar significance.
In the trade Of the United Kingdom,
China and Japan figure about per cent
in the imports and about per cent in
the exports. In the commerce OF the
United States, in 1894. 8 per cent of the
ern countries, and per cent OF its DOM
estic exports were sent to them. OF a
total trade in merchandise OF 81, 5l7 -
1856, 1874, only Al & per cent we're trsnsact-
ed with China, Japan aud British India,
while ell Asia and the other Indies
would increase this proportion by only
l per cent.
In 1921, the United States exported to
China goods to the value of 81, 800, $50,
OF which the products and manufactures
OF the United States contributed only
$33S, 535. In 1898 We exported So, 900.-
457, an apparent decrease OF s3l0, 900
on the exporta OF 1921; bnt in 1898 the
entire vaius-nearly $4,000. O0O-waa of
domestic product. la the intervening
period OF az years the highest point was
touched in 1878, $11. 460 638 OF American
products-an unusual figure approached
only in g singie yesr--lSe9 with Sl0,-
25s, The progress has be sn in the
substitution OF domestic for foreign pro-
ducts.
| Turning to British India, and our re-
turns include the British East Indies in
that designation. the domestic exports
in 1921 were s32, 900. BY 1850 they had
reached an annual average OF So 70 ,0J0.
and. beginning with 1873, rose gradually
from 81 coo COO to 81 500, 900 in 1890.
Last Of Ill came Japan. Ia 1867 the
direct exports to Japan were aimost
nothing. In 1872 they were 81 600 900.
and OF late years have averaged about
this amount. Regarded o. customers oil
the United Ssates. the three c9uutries
! are OF nearly eqagl i'm por.sacs. This
export trade depends upon @ single ite NJ
illuminating oil. Wac it not Tor this one
/ commodity. our exports TO these msr-
kets, having populations which exceed
in the aggregate. 700 900 COO would be OF
no accouut.
In 1894 we exported to the eaat total
value OF $50 202 24l. The mineral oil
was worth sll .076 Clio. The cotton cloth
cent to China--$2 Sl4, 22)-and some
wheat -four aent TO Hongkong 81. 800. !.
319-whea added 10 the oil, mnde II
per cent OF the entire exports to .he
east, In q yenr when do attic economic
conditions were exceptionally favorable
TO exports the whole range o! com Iaodi
ties, outside OF the three named. con
tribute less than SIS 900 600
Custom. long Dominant in Britisl
India aud m oTsciual preventive to .ht
growth OF Industry and trade. haa given
plaza 10 Contract. solidIv founded nyoE
Eaylish capital, tentative and state craft
Wha, India has hej done for i. by 9th
orr. Japan has Performed for tsoli