The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-06-15
Trnde Depression in Germany.

Reports from Europe, official and IN
official, leave no room for doubt that
during recent months business has been
considerably depressed there, and that
in Germany the condition is really seri-
ous. The bank situation has been
strained. the iron trade has been almost
paralyzed. and the silk industry greatly
crippled. with large numbers of opera
tives working on short time, or entirely
idle Now the Department Of State IS
informed by tie United States Consular
Agent at Gera- Germany, that the wool
en- industry is also IN d bad way, the
statement Of the consul being. that
probably no other German enterprise
has undergone a more marked change
in so short a time With the bank sit
uation strained and delicate, and the
iron trade, the silk and wooden indus
tries all suffering, it is evident that the
prosperity tide Of Germany Is at a low
ebb.
This is a matter that concerns other
countries IS well as Germany, and il
is receiving grave consideration in the
United States. In his recent speech be
fore the Chesterfield Chamber Of Com
merce IN England. Robert P Porter
dweIt strongly upon the manner in
which the interests Of the great com
merciaI nations are interviewer. This
IS a feature Of the worlds business sit
uatiOn that generally has been ignored
bv the Extreme prCtectionists- They
have proceeded upon the theory that no
matter how greatly other countries
might suffer. If We only had a tariff
sufficiently high and prohibftive we
were bound to be all right 4 favorite
contention with them has been that
there is no sentiment in trade, and
hence that other countries VIII buy
from US whether we allow them To sell
TO Us OF not
It may be true that mere abstract
sentiment plays a very small part in
commerce. but what the protectionist
has overlooked Is the circumstance
that If we do not buy from others they
viii not be able 10 buy SO much from
Us When trade in Europe is depressed
and suffering that continent VIII Of
necessity, take smaller quantities Of our
goods, even of food products which
they so greatly need, and Of the raw
materials, without which their manu-
features viii IangUish- This comes from
the universally recognized principle
that when times are hard people 10 not
buy So much, for the very excellent
reason that they are not able to do so
Therefore. the unfavorable conditions
in Germany cannot but be a matter Of
Great Britain the German Empire is
our best customer. and if d Iong-con-
tinued and serious depression has set in
there. II is bound 10 reflect itself in
smaller takings Of American goods:
and this in turn viii materially affect
conditions here It may affect Us in
three ways: First, as already suggest
ed. through the inability Of Germany
10 buy SO many Of our goods; second,
through the lower prices that VIII
naturally result from our reduced sales:
and third, from the circumstance that
we may be hurt by Germany's attempts
at remedial legislation.
There is no Disgusting the fact that
our tariff policy has produced & very
bitter feeling against Us in Europa
feeling that we were not disposed 10
trade fairly. This feeling has been
greatly intensified Of late by the large
" increased export Of American manu-
features. So long as we exported moth
ing but raw materials and food prod
ucts, Europe, while complaining Of our
Unfairness, showed little disposition to
retaIiate But when we began to in
wade foreign markets with our manu-
features a very different condition was
created. and now threats of reprisaIs