war of the classes-第15节

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Germany　of　the　new　steel　trust　in　America；　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；　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；

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；　and　which　has　been　well　named　The

Capitalistic　Conquest　of　Europe　by　America。　　Nations　do　not　die

easily；　and　one　of　the　first　moves　of　Europe　will　be　the　erection　of

tariff　walls。　　America；　however；　will　fittingly　reply；　for　already

her　manufacturers　are　establishing　works　in　France　and　Germany。　　And

when　the　German　trade　journals　refused　to　accept　American

advertisements；　they　found　their　country　flamingly　bill…boarded　in

buccaneer　American　fashion。



M。　Leroy…Beaulieu；　the　French　economist；　is　passionately　preaching　a

commercial　combination　of　the　whole　Continent　against　the　United

States；a　commercial　alliance　which；　he　boldly　declares；　should

become　a　political　alliance。　　And　in　this　he　is　not　alone；　finding

ready　sympathy　and　ardent　support　in　Austria；　Italy；　and　Germany。

Lord　Rosebery　said；　in　a　recent　speech　before　the　Wolverhampton

Chamber　of　Commerce：　　〃The　Americans；　with　their　vast　and　almost

incalculable　resources；　their　acuteness　and　enterprise；　and　their

huge　population；　which　will　probably　be　100；000；000　in　twenty　years；

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；　are　the　most

formidable　。　。　。　rivals　to　be　feared。〃



The　London　Times　says：　　〃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；　continues　the　same　paper；　〃for；　if　we

lose　our　engineering　supremacy；　our　naval　supremacy　will　follow；

unless　held　on　sufferance　by　our　successful　rivals。〃



And　the　Edinburgh　Evening　News　says；　with　editorial　gloom：　　〃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；　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；

notwithstanding　that　many　new　employments　have　been　made　possible

for　capital；　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；　when　capital；　like　anything

else；　has　become　over…plentiful；　less　lucrative　use　can　only　be

found　for　the　excess。　　This　excess；　not　being　able　to　earn　so　much

as　when　capital　was　less　plentiful；　competes　for　safe　investments

and　forces　down　the　interest　rate　on　all　capital。　　Mr。　Charles　A。

Conant　has　well　described　the　keenness　of　the　scramble　for　safe

investments；　even　at　the　prevailing　low　rates　of　interest。　　At　the

close　of　the　war　with　Turkey；　the　Greek　loan；　guaranteed　by　Great

Britain；　France；　and　Russia；　was　floated　with　striking　ease。

Regardless　of　the　small　return；　the　amount　offered　at　Paris；

（41；000；000　francs）；　was　subscribed　for　twenty…three　times　over。

Great　Britain；　France；　Germany；　Holland；　and　the　Scandinavian

States；　of　recent　years；　have　all　engaged　in　converting　their

securities　from　5　per　cents　to　4　per　cents；　from　4。5　per　cents　to

3。5　per　cents；　and　the　3。5　per　cents　into　3　per　cents。



Great　Britain；　France；　Germany；　and　Austria…Hungary；　according　to

the　calculation　taken　in　1895　by　the　International　Statistical

Institute；　hold　forty…six　billions　of　capital　invested　in　negotiable

securities　alone。　　Yet　Paris　subscribed　for　her　portion　of　the　Greek

loan　twenty…three　times　over！　　In　short；　money　is　cheap。　　Andrew

Carnegie　and　his　brother　bourgeois　kings　give　away　millions

annually；　but　still　the　tide　wells　up。　　These　vast　accumulations

have　made　possible　〃wild…catting；〃　fraudulent　combinations；　fake

enterprises；　Hooleyism；　but　such　stealings；　great　though　they　be；

have　little　or　no　effect　in　reducing　the　volume。　　The　time　is　past

when　startling　inventions；　or　revolutions　in　the　method　of

production；　can　break　up　the　growing　congestion；　yet　this　saved

capital　demands　an　outlet；　somewhere；　somehow。



When　a　great　nation　has　equipped　itself　to　produce　far　more　than　it

can；　under　the　present　division　of　the　product；　consume；　it　seeks

other　markets　for　its　surplus　products。　　When　a　second　nation　finds

itself　similarly　circumstanced；　competition　for　these　other　markets

naturally　follows。　　With　the　advent　of　a　third；　a　fourth；　a　fifth；

and　of　divers　other　nations；　the　question　of　the　disposal　of　surplus

products　grows　serious。　　And　with　each　of　these　nations　possessing；

over　and　beyond　its　active　capital；　great　and　growing　masses　of　idle

capital；　and　when　the　very　foreign　markets　for　which　they　are

competing　are　beginning　to　produce　similar　wares　for　themselves；　the

question　passes　the　serious　stage　and　becomes　critical。



Never　has　the　struggle　for　foreign　markets　been　sharper　than　at　the

present。　　They　are　the　one　great　outlet　for　congested　accumulations。

Predatory　capital　wanders　the　world　over；　seeking　where　it　may

establish　itself。　　This　urgent　need　for　foreign　markets　is　forcing

upon　the　world…stage　an　era　of　great　colonial　empire。　　But　this　does

not　stand；　as　in　the　past；　for　the　subjugation　of　peoples　and

countries　for　the　sake　of　gaining　their　products；　but　for　the

privilege　of　selling　them　products。　　The　theory　once　was；　that　the

colony　owed　its　existence　and　prosperity　to　the　mother　country；　but

today　it　is　the　mother　country　that　owes　its　existence　and

prosperity　to　the　colony。　　And　in　the　future；　when　that　supporting

colony　becomes　wise　in　the　way　of　producing　surplus　value　and　sends

its　goods　back　to　sell　to　the　mother　country；　what　then？　　Then　the

world　will　have　been　exploited；　and　capitalistic　production　will

have　attained　its　maximum　development。



Foreign　markets　and　undeveloped　countries　largely　retard　that

moment。　　The　favored　portions　of　the　earth's　surface　are　already

occupied；　though　the　resources　of　many　are　yet　virgin。　　That　they

have　not　long　since　been　wrested　from　the　hands　of　the　barbarous　and

decadent　peoples　who　possess　them　is　due；　not　to　the　military

prowess　of　such　peoples；　but　to　the　jealous　vigilance　of　the

industrial　nations。　　The　powers　hold　one　another　back。　　The　Turk

lives　because　the　way　is　not　yet　clear　to　an　amicable　division　of

him　among　the　powers。　　And　the　United　States；　supreme　though　she　is；

opposes　the　partition　of　China；　and　intervenes　her　huge　bulk　between

the　hungry　nations　and　the　mongrel　Spanish　republics。　　Capital

stands　in　its　own　way；　welling　up　and　welling　up　against　the

inevitable　moment　when　it　shall　burst　all　bonds　and　sweep

resistlessly　across　such　vast　stretches　as　China　and　South　America。

And　then　there　will　be　no　more　worlds　to　exploit；　and　capitalism

will　either　fall　back；　crushed　under　its　own　weight；　or　a　change　of

direction　will　take　place　which　will　mark　a　new　era　in　history。



The　Far　East　affords　an　illuminating　spectacle。　　While　the　Western

nations　are　crowding　hungrily　in；　while　the　Partition　of　China　is

commingled　with　the　clamor　for　the　Spheres　of　Influence　and　the　Open

Door；　other　forces　are　none　the　less　potently　at　work。　　Not　only　are

the　young　Western　peoples　pressing　the　older　ones　to　the　wall；　but

the　East　itself　is　beginning　to　awake。　　American　trade　is　advancing；

and　British　trade　is　losing　ground；　while　Japan；　China；　and　India

are　taking　a　hand　in　the　game　themselves。



In　1893；　100；000　pieces　of　American　drills　were　imported　into　China；

in　1897；　349；000。　　In　1893；　252；000　pieces　of　American　sheetings

were　imported　against　71；000　British；　but　in　1897；　566；000　pieces　of

American　sheetings　were　imported　against　only　10；000　British。　　The

cotton　goods　and　yarn　trade　（which　forms　40　per　cent　of　the　whole

trade　with　China）　shows　a　remarkable　advance　on　the　part　of　the

United　States。　　During　the　last　ten　years　America　has　increased　her

importation　of　plain　goods　by　121　per　cent　i