The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1898-05-11
"a cod standard YIctlm.

a remarkable object lesson fol
the careful study of the gold stand
ard people is being furnished JUS
at this time by Japan 1t viii bs
remembered that about year or sc
ago Japan changed to a gold stand
ard, and we are just beginning to
hear of the practical results.
Two years ago, manufacturing
and trade circles in this country
were expressing great alarm atthe
threatened invssion of this CONT
nent by japanese goods. It war
said that wonderful industrial
awakening was in progress over
there and that it would become
necessary for us to erect tariff
wall against japanese imports for
our industrial salvation.
Now we are told that scarcity of
money has been felt in both com
mercial and government circles,
that trade Il depressed and nlan-
ufacturers are becoming overstock-
ed. The Manchester Guardian,
one of the leading newspapers of
England, commenting on this
changed condition of affairs in the
Eastern island empire, has this to
say:
among the Japanese individu-
ally, it is added, severe financial
pressure was being felt in almost
every direction, in spite of the
large disbursement of the govern
ment anterior to the war with
China, during its prosecution and
subsequent to the signing of the
treaty of peace Many new COM
panies which were brought into be-
ing have liquidated. while those in
existence cannot get their calls
punctually paid up by their share
holders and find themselves in diff
ficulties as result. Native banks
have failed, or have had to strength
en- themselves by amalgamation.
The introduction of foreign capital
is craved for to alleviate the situa-
ton. Formerly the contraction of
a foreign loan was sdiscountenanced,
but SO far from that being the case
now, it would be regarded as a
popular measure. From ten to
twenty millions sterling, which
could be procured abroad at a mod
crate rate of interest, could be alb
sorbed with advantage to assist in
the development of the natural and
manufacturing resources of the
country. 1t is a noteworthy fact
that the adoption of the gold stand
ard by Japan, a measure resorted
to with the express object of pro-
viding for the free introduction of
foreign capital into the country,
should apparently only have the
effect of increasing the monetary
stringency."
With the introduction of the
gold standard Japan has been
forced to compete with older ma
tions on equal terms, and hence
the collapse of it's prosperity. The
big profits it was making have dis
appeared and investments promise
no more now than they do else
where in gold standard countries.
In striking contrast to this pic
ture of Japan is the continued in
dustrial development, government
revenue surplus and material prog
ress in Mexico. All the reports
from our neighbor on the south of
US show commercial activity and
prosperity, and the foreign capital
that is avoiding Japan, and even
the United States, is going into
Mexico with perfect confidence in
the future of that country. Japan
lost its opportunity when it aban-
doned the silver standard and went
just one step too far in its adoption
of Western ideas. AS said by
another in this connection, Japan
is learning that civilization does
not necessarily include the great
est wisdom in all thing. Charl-
eston Gazette.
a sw1ndler.
We are told that man is going
through the lower end of the coun-
ty representing that he is selling
wall paper for New York House.
He carries fair line of samples.
Recently he called at house in
Mercer's Bottom, and sold lot of
paper, the bill amounting to s7.Oo.
He then informed the lady of the
house that if she paid the bill in