The Caucasian. (Clinton, N.C.) 188?-1913, 1896-06-25
MUST OUR COTTON MIllSctoSE
CONTINUED from frys page. J

stores. factories, shops. and mines in
this country.
CAUSES INTERFERING WITH sPxKprKg
yEKIFIcATIos oy PREDICTIONS.
The truth OF this prediction would
have been verified sooner had no. the
Chinese authorities opposed an obst:-
nate resistance TO the establishment OF
factories which were not under official
control. The intention was to make
the manufacture Of cotton an official
monopoly; the best comment upon
which IL the certainty that Chinese
capitalists would not hazard a dollar
in an undertaking under official
management, although they were con-
hdent Of success IL freed from that pow
erful influence which ia China is
synonymous with corruption and
eventual disaster. When the japanese
government stipulated for the with
drAwal OF all restrictions upon the
importation Of machinery and the es-
| Enlistment OF manufactures, four
companies under foreign control were
| organized in Shanghai alone, in a few
| weeks, with capital of 100000
teals, equal to 100000 sterling or ST.
$50 900; while a much larger sum has
| been invested in purely Chinese I'M
| dertakings OF the same class, with many
| more in contemplation in various parts
| OF China, and as the success OF these
undertaking. is demonstrated others
| will come to the front.
The danger to these new industries
is depreciation Of gold in value. AS
gold advances silver must depreciate 4:
but il silver is given the same
mint privileges in the Western world
as is now threatened in America; its
price will rise, and as it approaches
gold in value, it will for a time Grip
pie and may seriously threaten the
new plants in the silver countries and
place the commerce of the world in
the hands of one great empire, "to
wit" America. But industries of this
character, once established, cannot be
destroyed: eventually they must be
victorious. Those acquainted with the
Chinese character know that, an indus
try once securely founded amongst
them, neither European, Indian, nor
Japanese competition can compel them
to abandon their undertaking. And
how much stronger is the Chinese Do
sition when it is known that British
capital is bound up with that of ma
tive manufacturers in China. 1t is
America and her boundless resources
including the silver as we'll, that we
have greatest reason to fear in the
near future.
| But they like blind fools do not see
their OBSERVATION-DISCLOSURES.
TASK IMPOSED ON THE INCOMING COM
| COMMITTEE.
"The incoming local committee will
| fhQPpfOPa no tD
new problems evolved out of radical
changes In the conditions which form.
erly governed British trade with
China. British Manufacturers, Merch.
ants, and ship owners, will find that
emma, within the last few years one
OF the most important markets. can
supply to large and ever increasing
extent, her own demands for cotton
goods produced by factories in which
large sums of English capital are in
vested; in addition to which the gov.
ernmehC IN wanto1 money, seize the
opportunity to levy increased import
duties, which will really become dis
criminatory duties, upon imported
foreign competitive manufactures for
the protection of native industry
With the loss of extensive markets
for their manufactures, of the transac-
lions which maintain the merchant or
mlddleman, and of the vast carving
trade involved, all those in Great Brit.
ain cornered will then grasp the GER
tainty that their correspondents and
Representatives in China and Janan
having acquired new interests. nave
Withdrawn their allegiance to the old :
and instead of endeavOring to Cooper
ate with their mother country. have
resolved to look henceforth to their
own interests only, and to resist all
attempts that have tendency to cir
cumscrlbe the development of native
industry"
| no" lew OF our manufacturers have
any knowledge of the present suicidal
policy pursued by our country in per-
uniting such death dealing blow to
De struck at our very existence, by
permitting these countries to take our
silver and close the doors and stop the
machinery OF all our factories and
starve our sO-called Christian peo-
| ple!!I-ED.
| But let us now notice japan and if
possible learn a lesson from these
hitherto benighted people. In two or
three years or less time they will close
up the industrial plants in the United
States unless we wake up and cease
cursing and rOtten-egging each other
over the question as to which of the
old fraud parties shall rule this coun-
try. From letter showing the growth
OF japanese industries, written by A,
&. Boscawen, Member, Parliament.
entitled "A recent visit to Japan,
and printed in the London National
Review for May, we quote the follow
ing paragraph which ought to open
the eyes Of any American professinp
to be sufficiently intelligent to trans.
act any ordinary branch of business.
ut is undoubtedly true that Japan
has learnt not only to fight, but also
to manufacture, and with the abund-
ance of cheap labor, and the plentiful
supply OF raw material close at hand
which she possesses, she may very
well become great commercial power.
and very serious rival to Western
nations. Besides this, she has the
enormous advantage over gold using
countries, that she pays her labor bill
IN silver. am not a bimetallist, because
cannot see that the remedy proDosed
wOuld cure the disease, but Think the b.
metat!ist party hare clearly established the
fact that the disease erists, and that the sill
| Ger using countries haze an immense nd
rontoge orer gold using countries in all
manufactures curing to the depreciation of
| silyer." y
lust notice this last sentence of this
statesman! After being convinced.
still he does not believe his own per,
sonal convictions! But to procede
with his letter, he says: Let me take
my own personal experience. In
America you get not quite five dollars
for the sovereign; in Japan, Won oct
nine, yet the silver dollar in Jansn
buys as much as the gold dollar in
America, and very nearly as much now
as it did when it was worth four shii.
lings instead of the two shillings and
two pence about which it is worth
now. This indeed is a very curious