The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-10-10

remove oil questions as to the sanity and con.
servatism in our laws, - to the stability Of our
currency, as to the continuity Of our industrial
development in accordance with natural laws,
and We will have q condition Of prosperity such
as no country in the world has ever known.
When We entered upon . period OF prosperity
in 1897 it was after convalescng from . period
Of severe contraction. Now we are producing
gold at the rate Of one and = half millions q
week, and have balance OF trade iu our favor
OF over ten millions a week. Our exports Of
manufactured goods have been 10 per cent
more during the past two years than during the
previous two years, and the balance OF trade IN
manufacture has amounted to more In the
past four years than during the previous exist.
ence Of the Republic.
Mistrust in 1895.
Owing to the mstrist in 1895, we were
obliged to appeal to Europe for financial help.
We we're Obliged to borrow money at high rates
OF interest. During the past four years, owing
to our undisturbed industrial development, we
have exported the products from farm and fac.
tory to such an extent that the balance Of trade
in ou. favor has amounted to two billions OF
dollars, which makes us a great factor in for.
eign commerce and n world power in finance.
England, Russia, Germany and Sweden have
come to us for money. and the credit OF the
United States government is higher today than
that Of any other nation. When all doubt is
forever removed as to the perpetuity Of our gold
standard, and no doubt possible as to the manner
Of selecting a Supreme court, to which VIC must
look for the enforcement OF our national obliga.
tions as written in terms Of gold, the American
Eagle will inevitably become the unit of inter.
national exchange in place OF the English SOW.
ereisn
In view OF the fact that the maintenance Of
high wages in the United States is largely de.
pendent upon our increasing exports, the ques.
tion is asked whether we could sustain them in
competition with the cheap labor Of China. were
China to become manufacturing country. The
best answer is that last year, among our other
exports, we shipped two hundred million yards
OF cotton cloth to the Chinese. The average
rate OF wages paid by us in its manufacture was
seven times the average rate Of wages prevailing
in China.
Tie Chinese, like the people in our own
country who have a Chinese cast OF mind, do
not recognize the advantages Of combination.
Industrially they are living in the land OF yes.
terday, instead of in America, the land OF today
and tomorrow. Notwithstanding her great
agricultural and mineral wealth, notwithstanding
the fact that she has the largest body Of cheap
labor in the world, China is not an efficient COM
peting factor in the field OF production because.
in spite OF all these facilities. she has none OF
the antecedents, intellectual. political, financial
or mechanical for large scale production under
modern conditions, since she possesses none OF
the instruments Of commercial greatness and
social well.being Twenty centuries OF station.
ary policy and Of looking backwards have made
political progress and economic development i'm.
possible for China. She has remained In in
dustrial infancy. Lacking organization and all
that goes with organization. production on 4
large scale aided by large agsregations Of capital
and under conditions which attract and enoble
the greatest abilities. her agricultural and min.
eral wealth and her CHEAP labor cannot save
her. She is left utterly behind in the economic
race and her vast territories are now threatened
with partition among the European powers.
Purpose Of Contractionists.
Our contractionists would practically have us
nut wall around the United States which would
reduce wages and prevent the working out OF
our destiny as world power in commerce, III
finance and in the greater and nobler field OF
doing our part in the advancement and civiliza.
tion OF mankind.
Situated as we are, between the great oceans,
combining the strength Of great land power
with that Of great sea power. we are pushing
our way across the Pacific as we have already
done across the Atlantic. But this increase is
small compared with the increase that il des.
tined to take place when no question is being
raised as to the stability OF the foundations on
which rests this great industrial prosperity.
With our untold natural resources, with onr
inexhaustible supply Of metals and coal, with
our great forests, with every variety Of soil and
climate with the most industrious, most intel
ligent and most contented Of peoples working
under the hest conditions OF modern methods,
we are destined to become the economic masters
OF the world.