Business & Finance: Spinners' Treaty

It is no tribute to the lucidity of cotton textile spokesmen that during the last two years the studious New York Times failed to acknowledge that the Japanese import menace, about which William Randolph ("Buy American") Hearst seemed perennially overexcited, might actually materialize. One of the first alarms sufficiently well expressed to convince laymen was written for the Times last August by President Claudius Temple Murchison of the Cotton-Textile Institute. Last week President Murchison arrived in New York from San Francisco, marched modestly into the Hotel McAlpin to tell a gathering of U....

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