his famous tariff speech, she listened from the galleries. She was present at the Chicago Convention when he turned the tide and made an epoch in his party. She sat on the stand when he received his nomination, and showed her profound gratification only with a few quiet tears. Throughout all the tremendously exciting scenes of that day she was one of the calmest persons in the house. When she joined him at the Clifton House, where he received the news of his nomination, a silent kiss expressed her congratulations. She probably was not in the least surprised. From the first she had felt perfect confidence in his ability. It would not be in her to be surprised at having her judgment confirmed.

Mrs. Bryan is comely. Her face is pale, well modeled and placid. It resembles that of her husband in some respects. At least, it gives a similar suggestion of strength and purity. It is the face of a sensible and affectionate woman; and it is typically American.

Mr. Bryan has been very fortunate, and he has shown his appreciation of his blessings in the best way possible, by unfaltering devotion.

CHAPTER XIII.

PERILS OF THE GOLD STANDARD.

Mr. James Dobson is known to the merchants throughout the United States. He is of the great manufacturing firm of John & James Dobson, of Philadelphia. In an interview in the New York Mail and Express Mr. Dobson shows very clearly the evil effects of the single gold standard.

Mr. Dobson said: "In 1890 there were imported into the United States from Japan 300,000 rolls of so-called China mattings at an average cost of twelve and three-eighths cents per yard. In 1895 the importation of China mattings had increased to 800,000 rolls, at five and one-fifth cents per yard. That is equivalent to 32,000,000 yards at five and one-fifth cents, instead of at twelve and three-eighths cents five years ago, all on account of the difference in exchange caused by the separation in value of the gold and silver dollar. I repeat that the price at which these mattings are imported in such enormous quantities, supplanting our own ingrain carpets, is wholly due to the rate of exchange caused by the fact that Japan is upon a silver standard while we are upon a gold standard. Japanese silks are af fecting the domestic silk trade precisely as mat

tings are ruining the carpet trade. Let me quote figures to prove that also. In 1890 the United States imported only 12,000 pieces of Japanese silk. In 1895 we imported 404,164 pieces, or over thirty times more. This has demoralized. the silk industry of this country, and so long as the rate of exchange remains as it is no duty could be imposed high enough to check these importations. So with silk handkerchiefs. In 1890 we imported 354,000 dozen. In 1895 the importation increased to 1,100,000 dozen. That shows graphically, I think, the abnormal and alarming increase of importations. So with many other lesser articles. Why, the Japanese are supplying the world to-day with tooth brushes.

"But another great industry is threatened. The Japs have gone largely into cotton manufacturing. No nation in the world has made such rapid progress in this industry as has Japan. Their 300,000 spindles in 1894 jumped at a bound to 750,000 in 1895, and they have orders placed in England to-day for 750,000 more. That is an increase of spindles at the astonishing rate of 100 per cent. a year. So I have shown you that in the three great items of mattings, silks and cotton cloth the difference in exchange between the Japanese silver standard and our present single gold standard is ruining three great branches of American manufacturing. The South must, in time, feel this, as well as Pennsylvania,

New York and New England, for the South is destined, under normal conditions, to be the home of the cotton factory."

Mr. Dobson, who favors a protective tariff, was asked: "Cannot these increased importations be charged in part to the lower duties of the WilsonGorman tariff law?"

Mr. Dobson replied as follows: "Take silks alone. The rate of duty on silks is only 5 per cent. lower under the present tariff than it was under the McKinley law. That is not difference enough to multiply the silk importations of 1890 by thirty in 1895. Matting under the McKinley act paid 20 per cent. duty. Now it is admitted free. Add 20 per cent. on the first cost in Japan-four cents per yard—and it makes the cost cents per yard more, making the cost, if imported under the McKinley law, six cents per yard, and under the present law five and one-half cents per yard, the difference being in the rate of exchange from a silver to a gold standard. In other words, when gold and silver were of nearly equal value, the cost of matting was twelve and three-eighths cents, as against five and one-fifth cents to-day."

'Why does not this oriental competition affect other manufactures, such as iron and steel?"

"It will in time. When a nation like Japan first enters the markets of the world, it naturally offers for sale the cheapest and plainest fabrics, requiring the least skill to make. As soon as

this field is covered, as it already is in part, the new competing nation will turn its attention to costlier fabrics, requiring more labor and skill. Most woolen goods, as well as most iron and steel products, are thus far made in countries which are like ourselves, on a gold basis; so that in these branches of industry we are not yet confronted with a bounty of 100 per cent. in favor of the manufacturer in a silver country. Gradually, eastern competition may drive the single gold standard countries into killing competition with one another, and the United States will become the dumping ground of all foreign products, unless we protect ourselves."

Mr. Dobson was asked to give some illustrations of how these importations had affected American labor.

"That is the saddest part of the tale," was the reply. Mr. Dobson led the way to a window, which he threw open. "Look down there," said he, pointing down the hill. "You see a few lights gleaming yonder in the valley. Two years ago all the surrounding blackness would have been twinkling with the lighted windows of happy and prosperous homes." The manufacturer sighed as he gazed down upon the dark Schuylkill valley, and returned to his library. He resumed : "Here are more figures, but they have human interest and carry a pathetic meaning. The pres· ent importation of China mattings would keep