The Caucasian. (Clinton, N.C.) 188?-1913, 1896-06-25
MUST OUR COTTON
MILLS CLOSE?
Some Strong, Iniispusable Facts
Which Show They Will Be
Closed Up
UNLESS THERE Is A CHANGE.


n oonv-rsAtion overheard IN tho
posioiiioe ia kalrigh. y few dAs, -ir.-.
between n reform editor and srt.tir-
man largely interested ia the snAuo.
taciurr of textiles ln wake ossuut,
fastened the conviction Gu cur u.sna
that there arr million. of bu.in... men
and voters ia thi. country Who have
mo- idea of the cause of our hu.iur..
depression, nor have fhry Any ia~A
OF the dangers that are nov confront
ing them. | wHs trmIslsd 10 venture
the prediction to the enthusiasm.
manufacturer. that unless he d.tuAnd.
OF the l'opulist. On ths. silver question
are complied with. is Ice fiua flso f.rsrs
'rrg 'ofios u.-Huf1rfary o. fhe IatifH
>l0fSs trth bs elossds
make the prediction now. and by
your permission, vail proceed "a prove
it by uDdoubi~d authority. With 10.
hope that our candidAi-- ON the stump
IN the approaching campaign NAV
bring tie facts plainly before the lru-
PIE, Tor many at cur mosi intelligent
voters are hoI-l--sly ignorant oi the
danger threatening this and AL other
gold standard c"untrics from a.. fr-~
silver countries.
And in order 10 make the .uhjsci Hs
clear A. possible. will call attention
To report of the sLtHn l,s.s,taf,..a.
>hangtia Eraa,h. for "a v,uy Issls. Thi.
~ an English establishments doing a
manufacturing business ia China.
The extracts, show the rapidly de-
v-loping manufacturing industries in
China and Japan. and are ia. result
of the difference of excl lAng. b-tw--n
gold and silver. aud that the greater
the purchasing power of gsi@. aud The
less the purchasing power of SILVER. the
| better Tor the silver indm-tri-. aud
the free silver countries. ~ is shown
that the only danger Ia the rapidly
growing industries 81 EAinA. japan.
India. Mexico and ether free silver
countries IL 60 come from a r.insfat..-
m-nt of silver in the western world.
No doubt can possibly exist as To the
Importance io Great britain uf the
| course of events an the far Ea.t gen
orally, and China ia particular. ai th.
next two or three years. Report par-
agraph let.
! MANrFAcTusI>. .osrEIITtoN.
Z The entire aspect of affairs chang.
with startling rapidity; the warnings
of the Shanghai branch of ia. China
branch of the Association are daily
being justified 10y occurrences: China
and Japan, from being consumers of
British and American manufacturer
have, within ia. last few Year.. cons--
lquent upon the enormous ada aniagrr
conferred upon them o., tie efiorts of
Europe and America 10 sustain gold
mononetalIism. been converted into
manufacturing nations with illimita-
BILE millions of skillful operatives:
which the continuance, for n few y-nr-
only, of the bonus springing from the
divergence between th. money. of ib.
East and West, will develop speedily
into the most prolific productive aud
manufacturing competition ever
known IN the world"
TARIFF REVISION.
The conditions of trade are chang
ing TO such an extent that the next
revision Of the tariff in China will
certainly tend Ia the protection Of ma
tive industries, newly horn. aud Go the
exclusion OF foreign productions: The
great markets heretofore open TO Brit
ish and American products will Toe
closed To them, and China and japan
? Will as they are now only beginning
. TO do, invade the markets of the West
ern world. do not American manu.
facturers feel the competition ruin
} ously even nowg Inde-d they do.
, But on with the report Nor will Brit
: ish, American, nor German. nor even
; French merchani@ iD China oppose
such revision, which 10 calculated 10
benefit themselves by exclnding even
r the products OF their own countries
l., from competition with manufacturers
: produced on the spot by fhenselyes
; The evil formerly ceplored, the appre-
D citation OF gold, has been turned TO
J, their own advantage, and foreign res
z idents IN China now find their best in
: terests bound UP with a continuation
e OF the lowest COLO price that silver has
e attained They realize the fact that
their ef.orts'to preserve TO their hofn.
countries the large and steadily ex-
panding trade, the result Of half a
century's labor, bid fair 20 be frus-
trated, and they see that ia the near
future the interests Of the West and
East must surely, IL slowly, diyerge
until they become entirely distinct.
!. While the principles by which the To-
cal committee have been guided
throughout in relation 10 currency re-
main unchanged, IL is obvious 60 them
that the commercial Interests Of Brit
,f ish merchants in China will now of,-
e pose any and all efforts looking 10 ar
e international currency which ne late
r, - March 1884, were 80 well supported
10 One Of the worst misfortunes tina,
r could befaIl these new manufacturing
% industries in these silver using coun.
j. tries would be, is a material rise i'm tho
price Of silver
RESULTS YoKEsEKx
m That this result was forese~p. To-,
20 the following extract from the Iocs
Z, committees letter to the goserrmen,
,. of India, dated March =, ls3s demon.
10 sfrate:
re -Th~ committe desires TO close tbi,
letter with observations that may per
haps have occurred 10 you sponias
of eously. The appreciation in the val
Ia ne OF gold has caused q corresponding
4. decline in the market price 81 Eng
ID li.h and American products and man
ufactures: but until quite recenfI,
silver retained its value measures
by commodities, with the result tina
n silver prices in the far East must b.
= raised TO q scale which will sfimulai.
u native produ.-.ion Of raw material ant
give TO domestic manufacture sdyant
VI ages superio. TO importation, which
has hitherto formed q large portion O
British and American trade. The con
nj sequence will be an immediate cur
d. tai.ment of demand i'm the far East sns
e. its comparative cessation ~ TO doacee
n tic industries spread, which they er
nov doing contrary % the belief ex
pressed by the Herscbell COMMITTEES
and the effect upon the industrial clas
In ses Of Great Britain and India cannO
ne be contemplated without disnay. Thel
ID the great danger will be, that whel
e the effects are felt and the peril dawn
As upon the British government the mis-
," chief will be completed, and remed,
IL sought to be applied, be too late"
should not every intelligent vote
re- in the United States heed tins warn
.st linRr Ii comes from those who ar
to now engaged in closing hundreds Q
(Contiuued ON fourth paes.)