Pine Bluff daily graphic., 1896-04-26
A BUSTED BUGABOO..
Senator Stewards "Yellow Terror
 of the East"
Our Little Trade with Japan and China ss 1t Appears Under the 16 to l Mag nifying Glass of the Cheap
 Money Charlatans.


 Having failed to get a serious hearing for their sixteen-to-one scheme on it's merits, the silverites have for several months been trying to frighten the peo- pie into voting for free coinage by hold ing up the bogy of Chinese and Japan CSC competition. By representing that the products of the cheap labor of China and Japanwere threatening our farmers and workers with ruin they for time succeeded in soaring 8 few timid per- sons into the belief that this country should adopt the monetary standard of those cheap-labor countries. Mir. Whar- ton Barker, of Philadelphia, was so im- pressed with the danger of allowing the American people to buy cheap goods that he drew up & set of resolutions, which were signed by 16 senators as the basis for their support of free coin age. The preamble to the resolutions declared that:
 Whereas, The difference of exchange be- tween silver standard and gold standard countries is equivalent to bounty Of 100 per cent on the products of the silver stand ard countries, and
 "Whereas, The cost of production in the old world. and particularly in China and Japan, is less than products can be pro- duced or manufactured in this country by American labor without reducing our farmers, miners, mechanics, manufactur- CTS and industrial workers to the level of Chinese coolies, therefore be it resolved, etc"
 MT. Joseph Ni1nmo, Jr., a former chief of the statistical bureau of the treas- ury department, bricks Mr. Barker's bubble of theories with the following plain statement of facts:
 "The absurdity of regarding our trade relations with China aud Japan as a governing condition in the finance of commerce is indicated by the follow ing comparison as to the value of our trade with China and Japan and with certain gold-standard countries for the year ended June 30, 1894:
 VALUE OF EXPORTS AND EXPORTS. China and Japan. $5l, 5l5 l49 Gr't Britain, France and Germ y. S03. .042S15
 In connection with this it is also of interest to advert to the total value of our foreign commerce and to the total value of our internal commerce. The total value of the foreign. commerce of the United States during the year ended June 30, 1894, was $1,547, ,135, ,194. 1t is impossible to state with any de- gree of accuracy the value of the in- ternaI commerce of the United States, but from all we know it appears safe to say that it amounts to fully S25, 1000, ,000, GOO annually. How absurd, then, to at tempt to delude the people of this eoun- try with the idea that our trade rela- tions with China and Japan constitute a governing condition of total com meree fully 500 times as great.
 ''To assume that American farmers, miners, manufacturers and industrial workers can be reduced to the level of Chinese coolies by a trade of such com paratively insignificant proportions, and consisting, in so far as relates to i'm ports, almost exclusively of tea, silk and other commodities not produced in this country, and which therefore, does not compete with American farmers, miners, manufacturers and industrial workers, is a vagary too absurd for serious consideration even in the con- ficts of partisan warfare"
 This should convince the American workingmen and farmers that the "Yellow Terror of the East" as it is called by Senator Silver-Knight Stew art, is only stuffed scarecrow, and very badly stuffed at that