The Topeka state journal., 1897-11-10
GOLD STANDARD JAPAN
Senator Cannon Tells of Distress in
That Country.

Ogden, Utah, Nov. Ex-senator Cannon,
who has just returned from Japan and
China, was interviewed by reporter last
night. Senator Cannon said
We had a good opportunity for making
observations, which We're the object of
our journey to the Orient. Numerous
conferences were had with the leading
men of Japan-the men through whose
influence the empire adopted what it calls
the gold standard In addition to this
we examined the industries of the coun-
try, those to which had been applied the
modern methods and the numerous home
industries which are carried on now as
in centuries gone. There is very little
to fear at present from the competition
of Japanese manufacturers.
"She has destroyed much of her ad-
vantage by adopting a policy which was
dictated from England What with her
vast standing army and with an increase
of the taxation such as is meditated by
the present administration of Japan,
there are not the same inducements for
the investment of capital in large factory
systems.
Besides. the difference of exchange is
now in favor of China, to the extent of
nearly u per cent and as the latter en-
pire is likely to remain on the silver basis
the stimulus to Oriental manufacturing
is largely in China. In the latter empire
we conferred with Ii Hung Chang and
other leading statesmen. officials and fin
anciers. We traVersed the country
far as the great wall and beyond and
examined into the agricultural situation.
We found among the ruling classes a de-
termination to maintain silver as the
base for their money system and an ex-
pectation that large developments of re-
sources and vast establishments of mod
ern industries would quickly follow.
Il do not wish to anticipate the for
NAL report which will be made on this sub
ject. nor would it be proper to now quote
the exact sentiments expressed to US by
distinguished men in Japan, but suffice
it to say that some of them uttered state
ments that justify the foregoing remarks,
and did so with no apparent reluct-
ance.
In my judgment. Japan has almost de-
stroyed herself by attempting to main
tain the gold standard. Already she finds
it more difficult to obtain loans of money
than she had expected. She has even de-
ferred the date when the gold standard
shall go into operation. And it begins to
look as if the cruelty which prompted the
change in the money standard already
stood appalled, at the probable effects"
What reason have you to think that
China will remain on the silver basis?"
The assurances given to >us by men
whose influence is paramount in the en-
pire, and which are of the most positive
and uneuuivocaI character. These states
mentor they are nothing less-are view
ing with interest the futile attempt of
Japan and are ready to take advantage
of the situation it stands and main
tain that advantage for their people
through all time, if possible China is
also seeking loans with which to develop
her natural resources, but if she shall fail
in the world (and it is not likely that she
will faiD, her own people are in a posi-
ton to advance much of the money nee
essary for the building of railways and
establishing industries. A considerable
impetus was given to the investment of
capital and the establishment of large in
dustries by the action of Japan, and the
loss of Japan's prestige, and the states
men of China will not allow any change
in the financial system by which these
advantages shall be lost.
1T is probable that open mint will
be established at an early date for the
coinage of silver alone. It is barely pos
sibIe that China may also coin gold, but
this is not at all likely"
Senator Cannon reaffirmed his conYic-
ton on the money question, and when
questioned regarding some of the neces>
sary reforms and probable issues. said:
First. take my stand on this primary
demand: A sufficient amount of money
for the needs of the people; all of such
money to be issued by the government,
and the present basis of such issues to be
the free and unlimited coinage of silver
and gold at the ratio of 16 to /. Next to
this comes the following: The earliest
possible retirement of all interest bear
ing obligations of the government Equt-
able protection, or none. The reduction
of the present cost of operating the ma
chinery of the government
1.-THE abrogation of all contracts with
private parties for the performance of
oublic work; the building by the govern |
ment of such national roads, canals river
and harbor and other improvements as
NAV be of benefit to all the people, and
the enployment in such labor of only ma
tive horn or naturalized citizens OF the |
United States. The opening Oh other
ports to all men whose business II IS 10 |
a ssiroflate with and uphold the dignity |
of American citizenship and the absolute
exclusion of Chinese laborers and such |
other persons, wherever born. as would |
come to this country to take the work |
and wages of our own people and to re- |
+urn TO their native lands with compe- !
tances obtained through their living on a |
lower scale than our labor should be re-
ouired to meet. The recognition Of right |
of every man to work.
1.-THE election of president, vice presl-
dent and senators by direct vote OF the
people. .- -..-,-4 |
NO discrimination in elections against
anv citizen on account of sex
.,The reference to the people of all bills |
nassed bv congress and signed by the |
president, before such bills shall become |
laws.
THE cession of all public lands to the
respective states in which the same are
situated, and the control OF such JANUS