The times., 1899-12-03

age but cents per sunum In their pur-
chases from us.
China which has a population OF 4e2.-
$50 COO or more than oue-fouTth the popu-
lation of the world, Is at present stiu
smaller customer. as her people spend an
average Of but 3 cents each in annual pur-
ohases from this country.
The great possibilities Of the
Chinese market for our merchants
and manufacturers may be seen
by suppasing that with their new
development above mentioned their an
nual per capita purchases from us will be
as great as those Of Europe. or Of Canada
II as large as those OF Europe 1885 per
capital, the total would be over one billion
dollars ($1, ,031. 500 S0O).
If as large as those OF Canada C$t7.22 per
capital, the total would be nearly seven
billion dollars (S6. 1874. 149, 600l.
Here, then. is a commercial prize worth
working for and the development Of this
immense and open trade field shoIld eceive
the best thought and the best energies OF
the American people.
Its adequate development VIII require
not only the assistance OF an extensive and
we'll equipped American merchant marine
and the Nicaragua Ship Canal, but suitable
legislation by the Fifty-siXth Congress,
new requirements Of a world power RePuo-
lie
Underconsumption vs.. oyerprOduc-
tion.
Much has been said and written about
the danger Of overproduction. IN the past,
when special attention was given 70 the
few million consumers of the home mar
ket, and but little intelligent effort made
to reach the I.5O0, ,ODO. 900 consumers in the
markets of the world, there was such a
| danger.
But now not only Asia, but Africa, and
the American sister Republics have en-
tered upon an unprecedented development
which is likely to be permanent, and their
commercial demands win be constantly
increasing.
| 1t is, then, underconsumption which
| we have TO consider. and the ways and
means to reach the inadequately supplied
| consumers of the world.
Pence and Prosperity.
There is every reason to believe that
the era of national prosperity. upon which
the United States has entered, viii steadily
| expand and be permanent in its nature
The spirit of the times, the world over
| is in favor of a greater material develop
ment and progress. and against all unnec-
essary disturbing elements that will inter
| fere with such a contamination
As the nineteenth century was con-
spieuous for wars and destruction, SO the
twentieth viii be conspicuous for peace
and construction. The year 1900 is near
| at hand. and as sure as the sun rises
| tomorrow morning, international peace viii
during that year be the favorite theme of
every pulpit and every parliament, the
press and the public.
In no other appropriate way can Chris
tian nations celebrate the dawn Of a new
century Of Christian civilization. Inter
national peace is something more than a
! mere sentiment, or a glittering generality.
1t is a practical business subject which
| should, hereafter, be considered by busi-
ness men, and not left, as has been Gus
| tomary in the past, for the exclusive con-
sideration Of philanthrOpists, churches. col
leges, etc. Wars and war debts have to be
paid for by the common people, who are the
principal taxpayers. The wars Of the
nineteenth century cost the world, mainly
| Europe, directly or indirectly, over one
hundred billion dollars. This is enough. if
devoted to commerce and the arts OF peace
10 build one thousand ship canals at a COS;
of one hundred million dollars each.
It is. therefore, an appropriate time fol-
the great American Republic to choose be
tween a nineteenth century European poll
cy Of wars and destruction and twentieth
century American policy of peace and con
struction. When that point is settled the