The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1910-05-21

The Wall Street Journal safs that Sir
Morton Frewen has progressed so far
with bis report. being prepared for the
Congressional Monetary Commission. as
to show the proof sheets to number OF
New York friends. among whom il has
created a profound impression. At a
dinner the chosen few were gathered
about Sir Morton, there being men wide
IL travelled and men who represented
practically all phases of power in life.
and tbs Journal gives over a column in
discussing the occasion without giving
away anything about IL. Q task often
confronting the newspaper man.
Without violating any condolences.
the Journal believes the report will
treat Of the great industrial changes
taking place in China, India. and the
far East generally, while 1t is expected
10 treat with favor the more extended, /,
though careful. use Of silver. The fol.
lowing are a few selected paragraphs of
the article referred TO:
Among the guests was one who has
just returned from q somewhat pro-
longed tour of Iodia. China. Japan. and
the far East. His visit was not one OF
pleasure. for he went purely for business
purposes, although the business was
nothing to do with corporations or f.
nance. He was by the nature of his
mission, brought into close relations
with some of the rulers Of the countries
Of the far East.
One Of these gentlemen. in speaking
informally. aud yet at some length. mp.
on the commercial relations which
China is now establishing with other
nations, was Of the opinion that the
magnitude aud the stupendous posi-.
bilities of this commerce were not yet
appreciated. China Is now actually ex-
porting to our Pacific coast pig iron and
cast iron. laying these products down at
San Francisco, or Seattle, for q price
which makes 1t impossible for American
manufacturers to compete with them.
Add that is an incident which has es.
capped the notice Of the American peo-
pie.
So, also. it was recently reported that
from the East Indies have. within few
months, been brought to the doors OF
the cotton manufacturers OF the south
considerable importations Of East In
dian cotton. This was marketed to
these manufacturers at . considerable
less price thsu the quotation for Ameri-
can raw cotton.
Mr.. Frewen's gnests were told that
this new commercial relation and the
momentous meaning that is In 1t. are
In great measure due to the change in
the value OF silver. as compared with
gold, which has occurred within the
past two or three years. This changed
price Of silver 10 now making IL possible
for China. for the Strait Settlements.
and for India, to begin manufacturing.
not only Of products for their domestic
markets. but for export.
For instance, the International fnan.
cisr said that no longer are the white
goods man ufacturers OF the United
States sending their products to the
chief oitiss OF China. We appear TO
have lost that market. Our cotton
goods manufacturers must turn their
eyes to South America, Mexico. and
the West indies. IL they are TO make
good the loss OF the Chinese markets.
When asked what the reason for
this change 10. the man OF finance said
that China is now manufacturinR
white goods. and Ia increasing the mum
ber Of manufactures rapidly. The
present price of silver and the relation
Of silver to exchange make it possible
to manufacture and market at such
prices as to have put an end to Ameri'
can competition In great measure.
Moreover, 10 the course OF few
years, il this manufacture continues Il
increase, as It seems likely to do. Chini
ia all probability. will be exporting
white goods; possibly even to thu
United States. What the authority
said Of the beginnings of change II
the commercial rela'i,ns OF China, ant
OF the apparent ignorance of the peopl
Of the United States of the peril of .
great competition, was 10 some extsn
confirmed by remarks made by one
the guests who has recently returne'
from an extended trip through the ia
East. He spoke with the eloq quence
real enthusiasm OF the manifest evi
dence OF q great awakening, not merel
political. but industrial. throughou
China. The Chinese are rubbing the
eyes. slowly awakening from the
Kip Van Winkle sleep. They are b
ginning tn annraciota tho maunitud