The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1896-04-29
A BUSTED BUGABOO.
SENATOR STEWARDS "YELlOW TER
ROR OF THE EAST"

opr Little Trade with Japan and China
IA 1t Appears Under the 10 to Masni-
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
I'D 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 Amerl-
can people to buy cheap goods that he
drew up a set of resolutions, which We're
signed by 16 senators as the basis Tor
their support Of free coinage. The pre-
amble TO the resolutions declared that:
Whereas, The difference of exchange between
silver standard and gold standard countries ID
equivalent to a bounty Of 100 per cent on the
products of the silver standard countries ana
whereas, The cost Of production In the old
world, and particularly in China and Japan, Is
less than products Gun be produced or manu-
featured In this country by American labor
without reducing our farmers, miners, mo-
chanics, manufacturers and industrial workers
- ink
resolved, etc.
Mr.. Joseph Nimmo, Jr., 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 i'll 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 the yeal
ended June so, 1894:
VALUE OF IMPORTS AND EXPORTS
China and Japan. sol. OLD ~ 1s
Great Britain, France and Germany &S'o42s!
SIN connection with this it is also O
interest to advert to the tOta! value O
our foreign commerce and to the tota
value o. our internal commerce. Th
total value Ct the foreign commerce o
the United States during the year endet
June 80, 1904, was 81, 547, 1876, 1874. /
is impossible to state with any degree o
accuracy the value Of the internal com
MERGE Of the United States, but from al
we know it appears safe to say that j
amounts to fully $25, 900, O00,0 600 annu
ally. How absurd, then, to attempt t
delude the people of this country wit
the idea that our trade relations wit
China and Japan constitute govern
ing condition of a total commerce full
500 times as great.
ITO assume that American farmers
miners, manufacturers and 1ndustrl;
workers can be reduced to the level
Chinese coolies by trade Of such con
paratively Insignificant proportions al
consisting, in SO far rs relates to in
ports, almost exclusively Of tea, silk an
other commodities not produced III tn
country, and which therefore does N
compete with American farmers, mil
as manufacturers and industrial worl
ers' is a vagary too absurd for serio'
consideration even in the conflicts
partisan warfare. ~
This should convince the Americt
workingmen and farmers that the u
low Terror Of the East, as iS-ls'eall'
by Senator Silver Knight Stewart,
only stuffed scarcecrow and very bad
stuffed ct that.