The daily morning journal and courier., 1904-08-24

success. The republic knows what it wants and whither it is marching. It is well posted as to it's resources and as to lthe resources ofits adyersaries. IL opens and closes it's gates as the stran- ger is considered useful or harmful; in other words, treaties of reciprocity must really be the means of reciprocal trade.
 The admission of immigrants, or, in other words, the importation of labor, is carefully watched as is the importa- { tion of goods. On the battlefields of in- ; 'ternationaI trade clever strategists have organized a trust yaster than any heretofore conceived, which binds the different states and different indus tries therein. refer to the great na- tional trust, the tariff. Thus, at the
 beginning of the twentieth century. the United States faces the world as a most desirable market, on the one hand, land as an awful menace to manufactur- ling nations, on the other. The nation Tor the individual that will make any effort to establish vast commercial re- llations in the future must be prepared
 to measure forces with the two great elements of the Unions power-its strength, based on it's resources, and | its organization. To what conclusion will careful study of those two factors Head us? Is Europe in general, and each particular power, doomed to inev-
 itable and irremediable defeat? Is the
 battle that is to be Sought hoheless Will the prosperity and progress that have marked the American republics movements during the last decade or two continue until they obscure all else? E ..
 In other words, are we to be con-
 fronted by an American peril more ter rible and more pressing than the vel low peril, one that is to wield against lthe old world the weapon before which lthat old world is to go dwon to ire ltrievable defeat?
 The peril exists. Of course this there Il is no doubt. Everybody will remember
 the feeling that spread over France twenty years ago when the first ship lments of American wheat menaced the farmers of the north and center of lFrance. The only way we were able lthen to resist the invasion was by
 keeping step with its progress by the l Imposition of tariffs. At the present ltime 1t is hardly certain that French lagrieulture can hold its own or keep up 1.-the competition.
 Germany has passed at different
 times through similar perils, notably lwhen American pork, invading the en1- lpire's markets, threatened by it's abun-
 dance and cheapness great public danger. The empire defended itself as lbest it could, but not without exciting Considerable resentment on the other lside of the Atlantic.
 Finally England has had her hours of ldoubt and difficulty with the same or similar dangers Think of what she lhad to endure when she saw herself lattacked and beaten in her own mark cts. Think of what she must have fell when she saw the first shipments of
 American coal landed in her harbors in 1908.
 l The peril exists. It is absurd to try Ito deny it's existence. It would be still Imore absurd to lose hope or believe that lthere is no remedy The fight for first lplace in the worlds trade is not neces- utSelolLOuo tO pat IilGAt Ito. Progress has in 1t profit for the
 whole world Nor is this profit limited
 Ito the gain of a single day or to one transaction. Progress brings continual
 prosperity. There are well-known leases in which competition has enriched lall parties participating in the strug- lgle. Tn word, every conquest over in-
 ert matter is to be measured as d gain ito mankind. All participate in its ad-
 vantages. It is not necessary in peace. Iful battles that industrial and cornmer. lcial rivals be yanquished.
 l Other words than war" and "van- lquished" would better fit the friendly lcontests called competitions. Hk
 Having no desire to embrace in an ar- lticlesof this kind the whole vast field oi lcompetition between the two continents lof Europe and America, I limit myself Ito a consideration of the commercial lsituation in France and the United lStates, It seems to me that in spite of lall that has been said and done the matter can be looked upon with sereni- lty and confidence. It is true that our power is incontestably less than that of Jour rival We have neither the vast