The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1903-04-03
THE BASIS OF PROSPERITY,

Some days the Star pointed that in view Of many apa
bic and close observers the continuance of Americas ph
nomenal prosperity gagged by the margin
mand and supply of the home when the
home supply fully the home demand, and foreign
had to be looked to take part OF regular production readus
% would De necessary winch to such concerns as were not
prepared for it would come with severe force
On this point Mr.. c. Seymour Bell the British commercial
agent IN the United States in report printed in September
last that long this country in its present prosper
Gus condition. absorbing all that produce way iron
ana Steel British manufacturers need not fear serious competition
in those articles in the worlds markets. 1T may pointed out
however, continues Mr. Bell that the strength Of the con
siderable imports much capital being employed in extending
existing and building works in order to bring the supply up
to the demand The home market is OF course profit
able for the manufacturer long demand continues
little thought will be paid other and profitable markets.
except in the OF keeping them in view
export on large scale when the time arrives Mr. R then
gives from American technical journal statistics OF the prov
sion being made for increased production pros
perty can not last there must be n oyerDrodton exceeding
anything hitherto experienced from the increasing output
falling demand at home To this contingency preparations
being made by the railway shipping other to
carry the surplus cheapy foreign countries The last OF the
great combne-the Atlantic shppng-is doubtless part
great scheme MEANWHILE adds Mr. Bell those British manu-
acturers who have already done will have opportunity
OF e1odeng their works and placing them condition to be
able to meet the inevitable and severe competition
very striking illustration Of the growing Importance for
e trade as the balance wheel OF industrial mechanism
IN times OF great domestic prosperity is the effect
occasions of the oppage OF demand for cotton
goods During the Boxer troubles the Southern mills
which manufacture especially for the Chinese market
duced to such by the suspension
China that were forced undertake the production of
goods which competed output of the New Eng
land factories Fortunately the Chinese market reopened
them lust in time to prevent crisis in the trade which would
probably have proved disastrous In October
unexplained the Chinese demand for goods
again fell off and it until the middle of December that
the orders expected in October began In the
time the Southern mills confronted with
the alternative of competing with the New England industry
OF remaining idle In either heavy loss would have been
inflicted upon important interest When reflect that
exports Of goods China represent but part though
the greater part of such goods abroad
that very serious results might follow the withdrawal Of
part of the foreign demand for the product of particular
industry.
The result of Mr. EmOry argument is that the prosperity
present enjoyed may receive check and that wise
reckon continued prosperity Those who a time OF
will sail with redoubed strength but there will
many who will go under when the times
The President has started upon his and there but e
doubt that it will prove glorious The weak spot
the South Roosevelt orceu and convincing when he
talks that he of his bitter political opponents
-:O:--
King Edward is taking holiday but is combining diplomacy
pleasure Even the visit Portugal though that in part
close personal friend has motive while the visits the
President the French Republic and the Pope strictly dip
onac AS Prince of Wales King Edward very popular in
Paris and he is likely have lost his popularity by coming
to the throne.