嗔秤戻幣�哉膵�云利匈嬉蝕湊蛸賜�塋床四衲���萩晦編報炎嘔囚^泡仟 ̄云利匈�《超噌�殻窟�嵌虜隆輓麈觚翹瀘卉韮�仍仍�。� 烏御危列
卆卆弌傍 卦指云慕朕村 厘議慕尺 厘議慕禰 TXT畠云和墮 序秘慕杏 紗秘慕禰

war of the classes(竣雫況尸)-及17何蛍

梓囚徒貧圭�鮗� ○ 賜 ★ 辛酔堀貧和鍬匈��梓囚徒貧議 Enter 囚辛指欺云慕朕村匈��梓囚徒貧圭�鮗� ● 辛指欺云匈競何��
!!!!隆堋響頼��紗秘慕禰厮宴和肝写偬堋響��




that   of   the   creditor   nations。   She�察  �too�察  �has   become   wise   in   the   way   of 

producing surplus value。 She has been successful in her efforts to secure 

economic       emancipation。       Possessing      but   5   per   cent    of   the   world's 

population and producing 32 per cent of the world's food supply�察�she has 

been     looked     upon    as   the   world's    farmer�察   �but   now�察   �amidst    general 

consternation�察�she comes forward as the world's manufacturer。 In 1888 her 

manufactured         exports      amounted       to    130��300��087�察       �in    1896�察    �to 



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253��681��541�察  �in   1897�察  �to   279��652��721�察  �in   1898�察  �to   307��924��994�察  �in 

1899�察    �to  338��667��794�察     �and   in   1900�察  �to  432��000��000。       Regarding     her 

growing favorable balances of trade�察�it may be noted that not only are her 

imports not increasing�察�but they are actually falling off�察�while her exports 

in the last decade have increased 72。4 per cent。 In ten years her imports 

from     Europe    have    been   reduced     from   474��000��000       to  439��000��000�察�

while in the same time her exports have increased from 682��000��000 to 

1��111��000��000。        Her    balance     of   trade    in  her    favor    in  1895     was 

75��000��000�察�in 1896�察�over 100��000��000�察�in 1897�察�nearly 300��000��000�察�

in     1898�察    �615��000��000�察      �in    1899�察    �530��000��000�察       �and    in    1900�察�

648��000��000。 

     In   the   matter   of  iron�察  �the  United    States�察  �which    in   1840    had   not 

dreamed   of   entering   the   field   of   international   competition�察  �in   1897�察  �as 

much to her own surprise as any one else's�察�undersold the English in their 

own London market。 In 1899 there was but one American locomotive in 

Great   Britain�察  �but�察  �of   the   five   hundred   locomotives   sold   abroad   by   the 

United     States   in  1902�察   �England    bought     more    than   any   other   country。 

Russia   is   operating   a   thousand   of   them   on   her   own   roads   today。   In   one 

instance the American manufacturers contracted to deliver a locomotive in 

four and one´half months for 9250�察�the English manufacturers requiring 

twenty´four      months     for   delivery    at  14��000。     The   Clyde     shipbuilders 

recently placed orders for 150��000 tons of plates at a saving of 250��000�察�

and the American steel going into the making of the new London subway 

is taken as a matter of course。 American tools stand above competition the 

world over。 Ready´made boots and shoes are beginning to flood Europe�察�

the same with machinery�察�bicycles�察�agricultural implements�察�and all kinds 

of manufactured goods。 A correspondent from Hamburg�察�speaking of the 

invasion of American   trade�察 �says�此   �Incidentally�察�it   may  be   remarked   that 

the typewriting machine with which this article is written�察�as well as the 

thousandsnay�察       �hundreds      of   thousandsof      others    that   are    in   use 

throughout      the   world�察   �were    made    in   America�察    �that   it  stands   on   an 

American   table�察  �in   an   office   furnished   with American   desks�察  �bookcases�察�

and chairs�察�which cannot be made in Europe of equal quality�察�so practical 

and convenient�察�for a similar price。; 



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     In 1893 and 1894�察�because of the distrust of foreign capital�察�the United 

States   was   forced   to   buy   back   American   securities   held   abroad�察  �but   in 

 1897   and   1898   she   bought   back   American   securities   held   abroad�察  �not 

because she had to�察�but because she chose to。 And not only has she bought 

back her own securities�察�but in the last eight years she has become a buyer 

of the securities of other countries。 In the money markets of London�察�Paris�察�

and Berlin she is a lender of money。 Carrying the largest stock of gold in 

the world�察�the world�察�in moments of danger�察�when crises of international 

finance loom large�察�looks to her vast lending ability for safety。 

     Thus�察�in a few swift years�察�has the United States drawn up to the van 

where      the  great    industrial   nations    are   fighting   for   commercial      and 

financial empire。 The figures of the race�察�in which she passed England�察�are 

interesting�此�

     Year     United      States    Exports     United      Kingdom       Exports       1875 

497��263��737        1��087��497��000       1885     673��593��506      1��037��124��000        1895 

807��742��415        1��100��452��000        1896    986��830��080       1��168��671��000         1897 

 1��079��834��296       1��139��882��000      1898    1��233��564��828       1��135��642��000      1899 

 1��253��466��000 1��287��971��000 1900 1��453��013��659 1��418��348��000 

     As   Mr。   Henry   Demarest   Lloyd   has   noted�察   �When   the   news   reached 

Germany of the new steel trust in America�察�the stocks of the iron and steel 

mills listed on the Berlin Bourse fell。; While Europe has been talking and 

dreaming of the greatness which was�察�the United States has been thinking 

and planning and doing for the greatness to be。 Her captains of industry 

and     kings    of   finance    have    toiled   and    sweated     at  organizing     and 

consolidating production and transportation。 But this has been merely the 

developmental   stage�察  �the   tuning´up   of   the   orchestra。   With   the   twentieth 

century rises the curtain on the play��a play which shall have much in it of 

comedy and a vast deal of tragedy�察�and which has been well named The 

Capitalistic   Conquest   of   Europe   by America。   Nations   do   not   die   easily�察�

and one of the first moves of Europe will be the erection of tariff walls。 

America�察�however�察�will fittingly reply�察�for already her manufacturers are 

establishing works in France and Germany。 And when the German trade 

journals    refused    to  accept    American     advertisements�察     �they   found    their 

country flamingly bill´boarded in buccaneer American fashion。 



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     M。 Leroy´Beaulieu�察�the French economist�察�is passionately preaching a 

commercial        combination       of   the   whole     Continent     against    the   United 

States��a commercial alliance which�察�he boldly declares�察�should become a 

political alliance。 And in this he is not alone�察�finding ready sympathy and 

ardent   support   in Austria�察  �Italy�察  �and   Germany。   Lord   Rosebery   said�察  �in   a 

recent   speech   before   the   Wolverhampton   Chamber   of   Commerce�此   �The 

Americans�察       �with    their   vast   and    almost    incalculable      resources�察    �their 

acuteness and enterprise�察�and their huge population�察�which will probably 

be 100��000��000 in twenty years�察�together with the plan they have adopted 

for putting accumulated wealth into great cooperative syndicates or trusts 

for the purpose of carrying on this great commercial warfare�察�are the most 

formidable 。 。 。 rivals to be feared。; 

     The London Times says�此 �It is useless to disguise the fact that Great 

Britain   is   being   outdistanced。   The   competition   does   not   come   from   the 

glut   caused   by   miscalculation   as   to   the   home   demand。   Our   own   steel´ 

makers      know     better   and    are  alarmed。     The    threatened     competition      in 

markets   hitherto   our   own   comes   from   efficiency   in   production   such   as 

never     before    has  been    seen。;   Even     the  British    naval   supremacy       is  in 

danger�察    �continues      the   same    paper�察    �for�察  �if  we   lose    our   engineering 

supremacy�察�our naval supremacy will follow�察�unless held on sufferance by 

our successful rivals。; 

     And   the   Edinburgh   Evening   News   says�察  �with   editorial   gloom�此   �The 

iron   and   steel   trades   have   gone   from   us。   When   the   fictitious   prosperity 

caused by the expenditure of our own Government and that of European 

nations on armaments ceases�察�half of the men employed in these industries 

will   be   turned   into   the   streets。   The   outlook   is   appalling。  What   suffering 

will have to be endured before the workers realize that there is nothing left 

for them but emigration� ─�

       That there must be a limit to the accumulation of capital is obvious。 

The   downward   course   of   the   rate   of   interest�察 �notwithstanding   that   many 

new   employments   have   been   made   possible   for   capital�察  �indicates   how 

large is the increase of surplus value。 This decline of the interest rate is in 

accord with Bohm´Bawerk's law of ;diminishing returns。; That is�察�when 
卦指朕村 貧匯匈 和匯匈 指欺競何 壘��2�� 家��2��
隆堋響頼��紗秘慕禰厮宴和肝写偬堋響��
梁椣戻幣�� 梁心弌傍議揖扮窟燕得胎��傍竃徭失議心隈才凪万弌誌育断蛍�輌臆惨軼僑〃�燕慕得珊辛參資誼持蛍才将刮襲潜��範寔亟圻幹慕得 瓜寡追葎娼得辛參資誼寄楚署衛、持蛍才将刮襲潜填��