Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1896-04-08
A BUSTED BUGAB00.
SENATOR STEWARDS "YeLLoW TER
RoR OF THE EAST"
Our Little Trade With Japan and China
as 1t Appears Under the 16 to Magni-
Tying Glass.

as 1t Appears Under the 16 to Magni-
flying Glass.
Having failed toget serious hearing
for their 16 to scheme ON its merits,
the silyerites have for several months
been trying to frighten the people in
to voting for free coinage by holding
up the bogy Of Chinese and japanese
competition. BY representing that the
products of the cheap labor Of China
and Japan were threatening our farmers
and workers with ruin they for time
succeeded in soaring few timid persons
into the belief that this country should
adopt the monetary standard of those
cheap labor countries. Mr.. Wharton
Barker of Philadelphia was so impressed
with the danger Of allowing the Ameri-
can people TO buy cheap goods that he
drew up set Of resolutions, which were
signed by l6 senator's as the basis for
their support Of free coinage. The pre-
amble to the resolutions declared that:
Whereas, Tho difference OF exchange between
silver standard and gold standard countries IL
equivalent 20 bounty Of 100 per cent ON the
products Of the silver standard countries, and
Whereas, The cost Of production in the old
world and particularly in China and Japan, Is
less than products can DO produced or manu-
facturcd in this country by American labor
without reducing our farmers, miners, mo-
chanics, manufacturers and industrial workers
90 tho lovol Of Chinese coolies, therefore be IL
resolved, etc.
Mr.. Joseph Nimmo, Jr., n former
chief Of the statistical bureau of the
treasury department, pricks Mr.. Bark
er's bubble Of theories with the follow
ing plain statement Of facts:
1.-THE absurdity Of regarding our trade
relations with China and Japan as
governing condition in the finance OF
commerce is indicated by the following
comparison as to the value Of our trade
with China and Japan and with certain
gold standard countries for tho year
ended June 80, 1894;
VALUE OF IMPORTS AND EXPORTS.
China and Japan. S5l,5l3,lf9
Great Britain, France and Germany hJ,Oi2,blo
"In connection with this il 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 tho foreign commerce OF
the United States during tho year ended
June 80, 1894, was $1,547, 1856, 1914 1t
is impossible to state with any degree Of
accuracy the value Of tho internal com
merce Of the United States, but from all
we know it appears safe to say that It
amounts to fully $25, 600, 600, 900 annu-
ally. How absurd, then, to attempt to
deluda tho poople of this country with
tho idea that our trade relations with
China and Japan constitute govern
ing condition of total commerce fully
800 times as great.
ITO assume that American farmers,
miners, manufacturers and industrial
workers can be reduced to the level OF
Chinese coolies by trade Of such COM
paratively insignificant proportions, and
consisting, in so far as relates 10 inn
ports, almost exclusively of tea, silk and
other commodities not produced in this
country, and which therefore does not
compete with American farmers, min
ers, manufacturers and industrial work
ers, is vagary too absurd for serious
consideration even in the conflicts Of
partisan warfare.
This should convince the American
workingmen and farmers that tho "Yel-
low Terror Of the East, " as it is called
by Senator Silyer-Knight Stewart, Is
only stuffed scarcecrow and very badly
stuffed at that.