OCR Text |
Show f The Time Is Ripe A yr R. ALLEN and Col. Loose have gone to I 1 VI Washington to convince, if possible, the i . Ways and Means committee that is just j L now going through the tariff schedules, with the f purpose of revision, that the tariff on lead should i not be disturbed. We have great faith that they will succeed. They certainly will If the welfare I of American labor as against the peon labor of i foreigners is considered. ' k But something else should be done. Rich men . . '' change their minds as readily as poor men do , ' when it is to their .interest. Silver was beaten ' down to compel the interest and principal of 2,000 millions in government bonds to be paid in I I gold. That robbery was long ago consummated, ' and is now ancient history. But justice, if slow, 1 works its revenges and compels restitution for every wrong. Out trade with China and Latin ; America, especially with China is falling off. Mr. k Hill nad Mr. Harriman have both been forced to withdraw their ships from the Oriental trade because China is a silver country and exchanges I have shrunk to a point where American manu-k manu-k facturers and farmers can no longer send any I pioduct there and keep even. Mr. Hill sees the t situation with perfect clearness and has promised wl Mr. Morton Frewen to join him in Washington on January 20th, and work with him for an en-,&. en-,&. larged use of silver, which would of course en- hance its price. But it seems to us that two or 9- three of our men of fortune and character should j, anticipate that. It seems to us theyshould go east and searching out the manufacturers who are hurt by this falling off in Oriental trade, show , to them the situation as it is, then, call in the i men who are heavily interested in the overland roads, with them prepare a program to arrest l the attention of Congress and induce that body to request the President to sound foreign powers t through our embassadors, and bring around an i international conference, to consider an enlarged use of silver and possibly to reach an agreement as to what silver, in foreign exchanges shall be rated at. This is a crucial time for China is about to start on a new career; there is no pos- sible reasonable expectation that she will change 3 her standard, for her people know no other ' money except silver, and then while silver has i shrunk GO per cent in value as measured by gold. I the daily wage to her poor workers has not been raised and a Chinese manufacturer can sell his wares for half what he obtained for" them twenty years ago, and make the same money. She will l soon have her own woolen and cotton and silk L s and linen mills and manufactures of all kinds. When that day comes how will the manufacturers f" in generous countries compete with feer? It would be bad enough were silver restored to its old valuation, but in twenty years the rates of labor have largely increased in this country while I they have shrunk 50 per cent in China. And there and in India are half the working hosts of the r world. When our eastern manufacturer, ex- nprters and the transportation kings get to un- j, (ferstand this situation they will surely sit up 'and take notice. It is useless to prepare any-; any-; thing here to present to -the President and Con gress, but if It can start in New York with the It backing of Hill and Harriman and the steel trust I and Standard Oil, that will attract instant atten- 1 I t tion. France will respond in a moment; we believe be-lieve Great Britain would agree to reopen her India mints; all southern Europe and Russia will look favorably upon the movement, and the Orient and Latin America would hail the movement with joy. Two or three of our strong men should arrange a program (we all will help) then carry it east and Enlist the kings of finance to accept ac-cept it and with th&t done Congress would heed their call. |