The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1896-07-10
AMERICAN VIEW OF ORIENTAL
COMPETITION.

COMPETITION.
During the session of the last United
States Congress q resolution was pass
ed calling for an investigation of the
threatened competition from Japanese,
and also of the effect of the difference
of exchange between the gold and silver
standard countries upon the agricul-
tural and industrial interests of the
United States. The report of the Ways
and Means Committee, submitted by
Chairman Dingley, is an interesting
document, as well as a strong plea for
high protective tariff.
1t is remarked that at present the
japanese are not a formidable compel
ing nation. cheap silks. rugs and mat
tings being about the only product of
japanese manufacture that has entered
the American markets to any extent.
Yet" the report adds. 1T is probable
that the rapid introduction of machin
cry into Japan will. within few years,
make Japanese factory products. es-
pecially fine cottons, silks and other
articles in which labor cost here is. an
important element in production a more
serious competition in our markets
than the products of Great Britain,
France and Germany have been, simply
for the reason that japanese wages are
lowewr than European wages, and jap
anese labor likely to soon become as ef-
fective with machinery as European
labor is
II is anticipated that this result will
be counteracted to an extent by the
in the standard of living.
but Notwithstanding japan 10 d pro-
gressive nation, it will be many years
before the standard of living among
the japanese laboring classes will reach
even that of the Europeans. to say
nothing of the United States, which is
still higher.
The only remedy the committee sug-
gests TO ward of the prospective attack
upon the home market is the impo-
sition of duties on the competing i'm
ports equivalent to the difference in
cost of production and distribution
arising from the fact that the manufac-
turer or producer of the United States
pays his employees higher wages, and
thus enables them to maintain better
of living, than the foreign
who seeks to avail him
self of American markets, pays his en-
ployes.
One of the most important features
Of the report is the discussion of the ef-1
tect OF silver standard upon mercantile |
competition. The japanese yen is equal
10 about so cents of American money.
This difference in the purchasing value
Of the dollar places the japanese manu-
tacturer at distinct disadvantage.
since he must buy a good proportion of
his raw material with gold or its equiv
alent. The only advantage the Japan
ese manufacturer has is that the wages
Of his employees have not risen in pro-
portion as the yen has deprecated in
value. In the United States since 1873
wages have doubled, as estimated in sill
yer, and have risen 15 per cent as es-
imated in gold In Japan, where tven-i
ty-three years ago a yen was the
equivalent TO an American dollar, the
zen has deprecated in value, and the
value OF the Eorkingmen's labor has
gone down with it, thus giving the man
lfacturer distinct advantage in the
purchase Of his labor.
The lesson drawn from this is that
.he United States should maintain its
present currency standard until a GEM
eral agreement can be reached among
he great commercial nations; and fur
hermore, that import duties should bel
raised so as to bring the japanese
goods on the market at the same price
Is the American productions.
RTrRFAH MEETINGS