The Caucasian. (Clinton, N.C.) 188?-1913, 1896-02-13

rr~stss svsry day. Ru, ps. Cl~vela NJ
sad is. tarissls eSatiss~ And r~rsiss
In the ssss sap-riD<n,Ai tr~sia~ni.
shoagn tesir patient ccstinss. 10 gr0s
voss-. has had s~,erAi s~ssrv syas.s
ssd 10 noe In very loo, haniiisiins.
ans critical eondition. f,s-s -, econ
mon s~ns~ say thai the ssp~ssra~n,al
Treatment shieh thsy are nos tryiss
With sooh essasiroas re.uit. .ho1ls b.
s,opp-di
Can they b. Justified In pur~sinx
their ~ild. ersnky. and iana,ieaI tr,st-
meni any further Ifth~y oar~ any-
thiaG fos thu life ef their ratseet, foe
the .prsp~sity ,f the people ~ th~
credit of this go, ~r nm~ Mt, sboald th~y
not Try the csb~r tr~atn~nt. which 10
r~cognired BY hS' Th~y isss ti.s
option Of two treatments rsy, have
tried the gold treatment With dlsas-
trous results; ~ they viii not try tho
Other should not ,ongr~ss tak~ th~ir
discretion from tb~r= aud direct them
-p-c.siiy Ia try the u: her tr-atmeat.
iNo~s not Congr~.s car~ sem~thinx
Tor the life oi the nation aud the credit
OF the country. II the President and
the Secretary OF the Treasury do net :.
Then let US do our duty and let us .p~-
IcincalIy instruc; them how TO sase
| our credit. Hence the necessity for
this amendment which I Offer direct
ing the Secretary Of the Treasury spe-
| cincally "a carry out the intent of ih~
law, the spirit and letter Of the lac
| under which oil Of our coin otii "a
tions have been issued.
lfthe Secretary OF the Tnsasury had
done his sworn duty, there would b.
no necessity for issuing bonds. Thi.
section takes away the discretion
| which lie has abused and forces him
to4io his duty. But to make Assurance
| iohbly sure that no further bonded
debt shall be h-sp-d upon an already
burdened people. I have also included
provision that no further bonds shall
be Issued Tor any purpose whatever
without further authority of Congress.
The distinguished senator from
Ohio Mr.. Sherman says that another
one of the troubles with this country 10
that the balance Of the trade is against
us. l most heartily agree with him
In that statement. Hut when he zoe.
further and charges hhat .. the sole
cause for gold going tout of the coun-
try, and that, therefore, the gold -x-
port Is due To the difference h~t w~~n
the Wilson-Gormant tariff bill and the
Mckinley tariff bill. I most emphaii-
cally take issue with him. Gold has
gone out under high tariffs aud low
tariffs. Gold went out consi antly un-
der the Mckinley Act. In short, for
the last eight years, under vary ing
tariffs, gold has contiButd 10 rise Ia
price and 10 be steadily drawn Sut Of
the country.
yond successful contradiction that the
/ c fnY hs. h~ la NJ a
ing against this country IL. first. the
fact that the products that We shin
abroad We are forced to sell at q price
less than the cost Of productions; Sec
Ond, because, on account Of the differ
ence Of exchange between gold-stand-
ard countries and silver-standard
countries, that We not only can not ex-
J port the products OF our soil and our
=. manufactured products at profit. but
. that the countries that were once
} among our best customers are now moi
only manufacturing and producing
nearly all OF the goods that they need
for their own consumption, but have
actually turned the tables upon us and
are exporting their produce into thi,
country at cost below that which II
is possible for our manufacturers "a
, make them. On account Of this differ.
ence of exchange, the silver-using
countries in the world to-day have a
: hundred per cent. advantage over us oI
any other gOld.standsrd country.
, Now the question arises, how car
this be remedied or prevented by q
tariff. Ii every schedule in the Nc.
kinley tariff was doubled, it would no,
protect this country against the com
petition Of silver-using countries. mol
would it turn the balance Of trade ia
our favor sufficient to protect our far.
, mers, labOrers. and manufacturers, OF
to prevent the export Of gold, SO Ions
as this fatuOus and blighting finan
!, cial policy is pursued. In proof OF thii
position | beg leave to submit som,
!, facts taken from our consular reports
First | have the Consular Reporti
for June, 1895, containing the repOr
/, made by COnsul-General Jernigan, n
, Shanghai, on "Trade with China
regret that time will not permit TIT
reading of extracts, at least, from tn,
, report now. 1t is an official repor
!. from an official representative OF thi
: government in q foreign country. Il
contains valuable and alarming infor
), : nation. 1t is the duty Of every man ou
this floor who is charged with the re
l
day is confronted with the evil Of Asi
!; attic competition and financial distres
to study for the real cause. Therefor
it is our duty 10 seek carefully the sig
nificant facts in the Consular Report,
l. | ask leave to insert certain extracts il
my speech
r COTTON, COTTON GooI~, AND COTTON MILLS.
s China is Americas largest market for d,
e mestic cotton goods. In 1892 China in
- ported from the United States Is. so "a
!, yards Of domestic cotton: in 1855 she in
!. ported only q. .1O, go yards. These hgurs
IL are taken from the Statistical Abstract {
= the Unitei States for lss3, and they show
e falling OF in this one item IN one year G
J. IS, l53, 600 yards.
: The annual statement Of the trad
y of the United Kingdom for 1885 sis
- testifies to the material loss in the import,
e ton by China of cotton yarn and domest
cottons from Great Britain. In 1892 Chin
u imported British cottons to the quantity {
nj 49,, ATS 600 yards, and in 1888 only 365, s05
e 000 yards. The changes in the number {
: yards of this commodity imported durin
. 1904 from the countries named do not ale
the application of the principle j wish
~ present for consideration in this connection
% The cause of the falling Oh, indicated ]
J. not appear in the ordinary rules goysrI
q ing trade. and - regards the United Stsf
" the loss is 20 marked - to excite snxiet
: The study have been able TO devote TO Il
=, subject and the information derived fro
~ the most reliable statistical repogts beariH
= upon Il influence the opinion that one
the main causes lies quite beneath Il
- surface.
is advance the opinion that the man
ps fr~ture Of cotton goods BY China and Jsps
Or. hises to decreAse the importation
= these countries Of such goods from {!
United States.
1e In the report of the Yokohama Ckamb
ne of Commerce, dated Nsy IA, Isy4, il a
u pears that the 6nt spinning mill erected
ke Japan was erected ID 1883, with Sass spi
dies. At the end Of 1888 there were IS mil
h. with 43, 100 sptndles; II the end of 1883
mills, with 8. .l40 spindles; It the end
:, 1882. 80 mills, with 40S .3l4 spinAies. ls3
III 46 mills, with about 10000 spindles-
ly No statistics relating TO the cotton mil
ne of China have been publiahed % full
Id those relating to the cotton mills Of yapa
49, -