Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1878-10-03
Good Money, Not Cheap Money.

Laboring men who join the cry for
cheap money are really clamoring for
reduction of their own wages. The
value of money is in Its purchasing
power. When it is dear it will pur-
chase great deal; when it is cheap it
will purchase but little. The evident
interest of the man who works for
wages is that the dollar he earns shall
buy rs much sugar flour, meat and coal
as possible and go as far as possible
toward paying his house rent. There
are but Two reasons urged for Initiating
the CURRENCY 50 as to make money
cheap. One Is to raise prices and the
other is to make the payment of old
debts easier. The workingman does
not want prices raised. Why should
ne help to put flour up to SIS barrel
and sugar to % cents pound? As to
paying debts in cheap money, that
privilege would be- OF no advantage to
nim. WOrkingmen are not as rule
ia debt, and when they are it is general
~ tor small sums which, taken tOgeth-
er, make but Iritilng amount in COM
parisOn with their yearly earnings.
Why should they help the debtor and
5peculatOr classes at the expense of
their own class? All, but it will be
said that wages will rise il the currency
Is diluted with irreeheemable green
backs and its purchasing power dimiL-
ished. How DO we know this? Why,
during the war and after the war anu
alter the War wages were high. True,
out what WAS the cause? The war
IoUk nearly two millions of strong arm
ell nIen out Of the ranks of producers
and made them consumers and Destroy
ere tor four years. As consequence
labor Was in active demand. 1t took
long time to restore the balance and
ill up the big hole the war made, but
this was accom- plished more than five
years ago and Ihe productive forces of
the labor Ot the country are now only
sufficient tor all the home demand but
they are excessive, so that we are CON-
petitions in the markets oil the world
lor the sale products.
No issue OF pieces of paper pretending
to be money will produce the effect on
labor of great war. 1t would be a5
sensible to imagine that a tornado can
be raised by blowing through a penny
whistle. Every workiDgman knows
that the price of his days labor must
be in proportion to the selling price of
the articles he helps make. No arti-
ticial prices can be again sustained, be-
Cause We are now competitors with the
whole civilized world and must sell
our products at the prices fixed by that
competition. A little reflection on this
point will make it plain to the most
ordinary understanding.
Cheap money would De temporary
advantage To large debtors who have
nothing owing To them to balance their
liabilities, and it would be permanent
source OF profit To all classes of specula-
tors, but all men who work for hire
and all men engaged in steady, legiIi-
mate business would suffer severely.
Even if some advance in wages were
secured the gain would be more than
offset by the advance in the necessarie5
of life. u ii-
Let workingmen study this subject
carefully for themselves and take moth.
ing Oh trust from the demagOgues who
are trying to ride into office ON their
shoulders. A little thought and in
vestigatiOn will convince them that it
is not cheap money but good money
they want-money tnat is good the
world over to buy every article they
need at the lowest market price
money that will not tdepreciate-money
that will go long way instead of
little way toward providing their
families with shelter, food, and CLOTH
ing. ..r ...-...--