New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1898-07-20
learn valuable lesson. may learn
perhaps to keep our hands clear Of furth-
er acquisitions of similar character.
Doomed 81 the Gold STANDARD.

Doomed BY the Gold Standard.
In his report on Japan's industrial
condition A. 81. Lay Of the British lega-
ton at Toxic says: ssThe cotton spin
nlng industry, on which such great hopes
were based, has already suffered severely.
At the end of the year many Of the mills
were financially in precarious condi-
ton and several small concerns in state
of bankruptcy. 81 -.s:. E .,5 s
In commenting on this report the Lon
don Financial News remarks: s'TEese
are the very mills whose prosperity not
many months ago We were able to cite
as Indicating how comfortably silver
using country could compete with Lam
cashire. In the early part of last year
the Japanese spinners we're dong un-
commonly we'll, and the belief that all
surplus yarn could find ready market
in China was being realized. The year
exports of yarn to China reached 49,
366,329 pounds, against only 15,258,116
pounds in 1896.
"The future seemed roseate, but, in
Mr.. Lays words, the adoption of gold
standard in October, together with the
fall of silver and the enhanced cost of
labor and fuel, doomed these expecta-
tons to disappointment There we
have cause and effect set alongside in a
way that should impress the Indian gov
eminent, if it can for moment emerge
from its own narrow preoccupations so
far as to look on currency ard exchange
as factors influencing the whole life and
prosperity of country, and not merely
the settlement of foreign debt charge"
Japan is paying dearly for its desire to
initiate the "most civilized nations" by
placing itself on the gold standard. For
eign trade has fallen off, manufacturing
has declined, and just at present panic
is threatening the country.
Truly the gold standard is good
thing to let Chicago Dispatch.
Explanation Needed.
Here is what Hon. O.G. Wall, the stall
wart editor of the republican Ortonville
Journal, said just before Mr.. Eustis was
nominated:
''The record will show that Mr.. Eus-
It's appeared on every scrap Of advertis-
ing matter sent out by the Infamous
Guaranty Loan company. He was one
of the directors of the rotten concern,
and participated in moulding it's affairs
and none were more guilty than he in
betraylng those who had confded in the
honor and manhood of those prominent
in the directorate of the stupendous
swindle. Mr.. Eustis is most guilty, and
if he would betray one great trust and
connive at robbing people of millions OF
dollars, is he fit man to trust as COVER
nor of Minnesota?''
These startling charges coming from
man of hi gh standing in the ranks
of the party that nominated Mr.. Eustis
will need to be explained. The Guaran-
ty Loan failure has done more to bring
reproach upon the fair name of our
state, has done more to injure the credit
of the west, than all the other swindling
schemes combined. Menage, its presi-
dent, is still fugitive from justice and
his victims, living in want and poverty,
are strewn all over the land. The repub-
lican papers which have made these
charges will be forced to clear them up
or admit their Fairmont Senti-
mel.
Senator Hoar, the distinguished and
conservative representative of Massa-
chusetts in the upper house of the ma
tional congress-, IN discussing the Phil
ippines said:
''If we come out of this war without
entering upon the fatal folly of retain
ing far distant possessions, the world
will be so impressed with our strength
that no nation will attack us for hum
dred years." ..>
With such men as Sherman, Bryan,
Reed, Cleveland, Hoar and Thurston OPP
posed to the acquisition of territory by
conquest, we certainly are in no hurry
to be led away by the popular sentiment
in favor of imperialism.
This staten ent comes from Hon. A. n
Dare of the Elk River Star News, one
of the most prominent public men o.
northern Minnesota and Republican al
that:
It is estimated that the "le gitimate ex
penses" of the two leading candidate.
for the Republican nomination for GOV