Los Angeles herald., 1909-09-29

strike in England, which lasted three
years, made a foreign market for
American manufactured goods, and in
three years the United States drew
from the outside world a profit of ST.
900, 900 in gold, the volume of money
was restored, and with it the business
of the country was restored to It's
normal condition:
About the same time the discovery
of the cyanide process for cheaply re-
ducing rebellious low-grade gold ores,
and the opening of vast gold deposits
in Cripple Creek, South Africa and
West Australia. in seven years added
to the worlds gold supply more money
than had been added in silver IN the
preceding forty years.
1t may be asked why this history is
sprung anew after its settlement six
teen years ago. One answer is, no
public, vital question which concerns
mankind is ever settled until it is set
fled right. In the last seventy-five
years the tariff war has declared many
a truce-in order to bury the dead and
reform the lines-but there has been
no settlement.
Is Money of Orient
Should silver at a fair ratio with
gold. be recognized as it was forty
years ago, and then if it should not
maintain its purity with gold, that
would make true what the enemies OF
silver have been falsely asserting since
1875 and would finally settle the ques-
ton, but while gold has full recogni-
ton and silver is held as a mere COM
modify, to say that each stands on
it's own merits is neither good sense
MOI. common honesty.
But there is a special reason for re-
turning to this question now. The
myriads of men in the Orient, Spanish
America Southern Europe, Western
Asia and Northern Africa will not,
can not and have not changed their
money Some states have accepted the
gold standard, but this has been mere
ly for convenience in dealing with
foreigners, the money of the people
of the workers who create country S
wealth, has remained the same. And
that money is silver money
Kills Our Export Trade
Though silver, measured by gold, has
fallen nearly or quite 60 per cent, en-
ployers in silver-money countries pay
employees the same weight of silver that
they paid thirty years ago The re-
suit is that they can sell their wares
to us at about one-half what they
could thirty years ago, but when they
come to buy from us, the cost IN thelr
money, has more than doubled and eX-
changes have fallen until our export
trade with half the worlds peoples mas
been practically killed.
The ships of the Southern Pacific
Railroad company, formerly engaged IN
the oriental trade, are swinging, idle,
on their chains in San Francisco mar
bor. and Mr. Hill! of the Great Northern
the Northern Pacific railroads admits
that he has no outbound cargoes FOR
his ships to China, that since the war
between japan and Russia closed the
exports to both Japan and China nave
been chiefly confined to such machin-
cry and material as they were Obliged
to have and are not yet able to sup
ply from their own works Eastern
manufacturers can no longer sell their
wares in the orient, their trade with
other silver countries is being swiftly
curtailed-countries which contain
quite half the inhabitants of the earth.
They are asking what the barrier Is
that has been upreared against them'
The great financiers and bankers see
the decentralization that has fallen on
the exchanges and are helpless to pre-
scribe any remedy; the reports OF our
cOHSuiS III AIillS, 0oipetlis AAiNANNf
and Egypt all report our export trade
dead with those countries. and 1t is al
most as bad from South America.
Bring Goals to Newcastle
At the same time the appeals of the
eastern press for closer walk and ex-
tended trade relations with emma IL
illustrated. would make hilarious
showing in a comic almanac. In the
meantime, the awful Chinese hive has
begun to swarm, her manufactures
are beine rapidly extended. and it will
not be long before she will be laying
down in our ports iron and steel and
woolen goods and a thousand other
staple articles at prices which will defy
the competition of all generous nations:
Forty years ago there was much said
about the impossibility of competing
against Oriental labor. BY legislation
our government more than doubled the
difficulties of that competition.
There is nothing to do except either
to demonetize gold or to give back