75 



reasonable allowance for the large percentage which they 

 lose. Should it, however, be but one-quarter of this, 

 this consideration alone more than balances the differ- 

 ence in the price of labor. 



If they can lose such a percentage and still make a 

 profit on their low price labor, how much greater profit 

 can we make, even if our labor is higher, when no loss 

 is sustained. But again, I ask, how can the price of 

 labor operate to our disadvantage, when we are entirely 

 free from everything like excise duties on trees and silk ; 

 a burden which is borne heavily indeed by European 

 silk-growing countries ? We have it, on the best au- 

 thority, that in the Neapolitan territory every mulberry 

 tree pays to the government an annual tax of about 

 sixteen cents, and every pound of silk about thirty- 

 three cents. Even the refuse and unprofitable part of 

 the silk and cocoons pay about one per cent, to the 

 government. Surely if labor costs even nothing there, 

 and it is still profitable to produce silk, it may be vastly 

 more profitable here, with all the high price of our 

 labor. 



