Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1902-05-16
BRITISH TRADE DOOMED
We Give England Her Own
Medicine, Says Labouchere.
PIERP0NT MORGAN THE CAUSE.
Editor of London Truth See. Fingers
on the Wall Spell Ruin of CONNER
cial Supremacy and Writes the
Moral of "Morgnneering''- - john
Bulls World Being Turned Upside

Mr.. Henry Labouchere IN recent
number Of London Truth, under the
heading of "Morganeering and the
Moral" tells the British nation that its
supremacy in trade and commerce is
not only threatened, but doomed. and
that IL will take all the best efforts the
empire is capable of to prevent a retro
grade movement, which, If 1t begins,
will increase year by year.
He says In part: For generation or
two past the gospel of salvation Of
mankind by the agency of British cap
ital has been preached with sincere
conviction by British politicians, Brit
ish men of business and almost every
British man In every British street.
Whether ii was dying nation in Eu-
rope or Asia. a rackety republic in
South America, an unreclaimed region
of Africa. peopled by idolators and can
nibals, or even povert? stricken Brit
ish colony, the means of regeneration
were always the same-let British cap
lNli anu ifilAlNh tA1Ni IN AS' li'iN Wv
patient thoroughly and there will be an
end TO all his diseases. political, eco
nomic and social.
For fifty years we preached this gos.
pei and acted up to ii religiously. Now
comes little turning of tables. With
much larger population and immeas
urably greater natural resources. the
United States offers field for the ac
cumulation Of greater wealth than we
can ever aspire TO.
Americans, in their turn. now aspire
to regenerate the world by American
capital and American enterprise. They
practice upon us the doctrine which we
SO long applied to the rest of mankind
They acquire our underground rail
ways with the kindly view of showing
us how to work those antiquated under
takings prohtably. They propose to
provide poor old London with tram
ways and tubes which its people are
too poor or too stupid TO construct
themselves. They acquire half the to
bacco trade OF these islands TO confer
upon us the benefits of being supplied
with American goods on American
principles. Lastly-for the present
they lay sacriligious hands on the ship
ping. by means of which Britannia
rules the waves
mo wonder John Bull is in a comic
state OF CONSERVATION. The world from
his point of view is being turned com
petely upside down. He is no longer
'on top but underneath. Instead of
the exploiter he is becoming exploited.
For about twenty years we have
been beset with the craze of acquiring
In the most out OF the way parts of the
world new openings for British capital
and new markets for British goods. The
craze has colored all our national
thoughts and policy. While we have
been pursuing this phantom what has
the foreigner been doing? He, too seeks
an opening abroad for his surplus CAPT
tai and a foreign market for his sur
plus goods. And where does he first
find them? In England.
while we seek to extend the area
of our commerce and our investments
by acquiring control of countries which
have no population or of people who
have no wants, the manufacturers and
investors of Germany and America find
in this country the finest opening in the
world While we sink millions on the
construction of railways through the
African continent, which cannot yield
return within the life of the present
generation or perhaps the next, the
American capitalist discovers a re-
munerative investment for his millions
In improving the means of locomotion
in London.
individual fools have often enough
dropped the substance to grasp its
shadow, but never before has whole
nation deliberately committed itself to
this folly. Our supremacy in trade
and commerce is not only threatened.
but doomed.
"Yet by utilizing to the best advan-
tage our resources in raw material,
capital and labor we can hold our own.
even If we are forced to see Germany
anu luCItdSC tutll Outpul
faster than we can. 1t is only by the
stupidity of squandering our capital
in foreign countries, overlooking the
opportunity of employment at home,
that foreign capital can snpplant Brit
ish in any home industry.
"But at the present crisis of our eco
nomic history what are the objects
which chiefly occupy our minds? The
regeneration Of South Africa by the in
PRODUCTION into that accursed land of
British capital and labor, the expan-
sion Of our army at the expense Of the
labor market, squandering time. money
and energy on the empty ostentation
Of the coronation ceremony. which will
suspend industry, dislocate trade and
divert public thought from matters of
pressing and vital import.
"At the moment while we are thus
engaged Mr.. Pierpont Morgan and his
colleagues descend upon us, seeking
what they may devour, one day snap
ping up whole industry, the next an
nexing railway, the next capturing
half a dozen lines of British steamers.
Almost within an hour of the kings
feast come forth the fingers of a mans
hand and write upon the wall. 1t
needs no prophet in this case to in
terpret the writing. 1t is easy to read
the warning and not difficult to accept
and act upon it.
"Shall we attend to it at once or shall
we finish our wine and think about the
Medes and Persians after the dinnerW