The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-02-13
COMPETITION WITH JAPAN
One Eject of the Decentralization of Silver
A Note of Warning.


"A Note of Warning.
The Atlanta Constitution prints a
communication from the secretary of
the American Bimetallic league in re-
gard to the recent invasion of the
Americon markets by manufactures
from Japan, and adds by way of COM
ment:
THE Constitution has already re-
ferred TO this matter as piece of in
teresting news. So far as the real
discussion of its possible or probable
effects are concerned, we are content
to wait until our eastern manufacture
ers begin to take an interest in the in
vasion. 1t is called an invasion but
we think it might be better described
as The result of an inv 2luntary invita-
tion extended to the lesnufacturers of
japan. by ou- saiacturers, wlo,
blind to their own interests, have per-
mitted the money dealers to demon
etize silver, and in this way have
joined with European nations in pay
ing a bonus of 100 per cent on all
goods manufactured in Japan.
'The Constitution is content to wait
until the so-called invasion shall as
sumo proportions sufficiently threat
ening to cause the manufacturers of
the United States to study the money
question and discover for themselves
how and why it is that the dislo.ation
of exchanges between the east and
west has conferred such vast benefits
on the manufacturers and producers of
the east.
AS the matter stands, the question
is OF more interest to the workingmen
and women of the country than it is to
the employing manufacturers. The
presumption is that those who employ
labor in the various productive indus
tries have capital or wealth on which
they can fall back or direct into differ
ent channels. But it is not so with
the laboring classes. Their wealth, as
well as their capital, consists of their
willingness to work and the skill
which they have acquired. Hereto
fore their labor has commanded COM
paratively high wages. For genera
tions they have been enabled not only
to live well, but to provide homes for
themselves and such comforts for their
families as the European and British
laborers never dreamed of.
THE British gold standard has al
ready interfered with their prosperity
by cutting down the prices of the prod
ucts of their labor. This fall in
prices has been accompanied not only
by lower rate of wages and the en-
ployment of fewer workers, but con-
Germs that have refraiped from cutting
wages for fear of precipitating a strife
have made themselves even by discharg-
ing part of their help, by running on
short time, or by closing down for
months at time. There are thousands
of industries in the United States
closed down to-day. vainlv hoping for
rise in prices. The gold standard
newspapers do not even refer to these
facts, and it is only possible to learn
them by casual statements and intima-
tions in the trade reports of the COM
mercial agencies
"a correspondent explains very
clearly why the eastern nations, such
as Japan, are engaging in the business
of manufacturing for themselves, and
why they can underse1l the manufact.
urers of Europe and the United States.
In the financial system of the east
Japan for example-gold is not money,
but commodity. The premium on it,
as commodity, is 100 per cent that is
to say, when Japan is asked to buy
goods manufactured in Europe or the
United States, her people find that the
price has doubled. 1t is prohibitive
price, and it has compelled Japan to
go into the business of manufacturing
on her own account, thereby saving
the 100 per cent. that would have to be
paid for articles made in the gold
standard countries.
in other words, the people of Europe
and the United States, by permitting
the money dealers to demonetize silver
for their own personal profit, have
practically given to the manufacturers
of Japan and other eastern countries a
bonus of 100 per cent. on every article
they produce. Meanwhile, in the sill.
ver-using countries prices remain al
the level of 1873 The use of silver has
no effect on the labor market, which
is controlled entirely by the conditions
of supply and demand. The over
crowded population of the east-more
than 1000, 600, ,000-has accustomed it
self to the practice of economies that
would mean the utter degradation oi
Americans, and the labor market is SC
overcrowded that wages are down to
the point of bare existence.
"The real meaning of the British
gold standard for this country will be-
/ gin to dawn on the minds of all the
/ people after awhile"