Los Angeles daily herald., 1886-08-08

Los AuQclc1- ms CITY utitnpneh' t"@ '''s"
aud all other municipal notices appear only
IN its columns
Ar. b. N. Rowe is the Santa Ana agent OF
tho HnaALD.
Financial FaiIacies Exposed.
Mr.. David A. Wells, the leading
free trade writer in the Atlantic
States, sends abroad the following
fallacious statement.
"When any person, more cspe-
cially one who depends upon the re-
suits OF each days toll TO meet each
days needs, earns n dollar by his
labor, what sort OF dollar is he en-
titled TO receive? Manifestly, FUR
Their, the laborer or bread Garner,
whoever he may be or wherever he
may live in all this great country,
can now have the best dollar Of l25
cents purchasing power just as
readily and cheaply as he can have
the other kind OF a dollar, presently
or prospectively worth less and he
Gu" sons'hue W naso ~ l"'' us
IN nothing is done to impair the
power Of the national Treasury TO
exchange silver for gold on demand.
Now, why should the laborer be will
ing 70 apa'e AWNING " "is -
eye Anu ~ NOV "'o "'a" WV
cafes poncy W"e'eoy .io 49," -. .
compe''eo W .eoe''o 'V. $50 -.
70 the pes' ihh'c''"s u" ",''' "po"
MN 40 ne NV WV WV
one"y -, ~,
""o' '"' w, 49,
~ "eo''", " ~"
w 'op'i". 80 '.''..--'...i
'o''''en' aso '"o 'o'eso'.S
" " 'e'.e' rom ''' ~ :" "0','' -"
u'esseo " 'ne sun "e"spai"'' y"
oer 70 SNOW now 'rra,'oi"''y '"' -
saru'ess " ''s'o'ios' '"'', ''"
"'S ''''ei''schoe anu soo' ''''o"'''''
" caPap'e Vi "i'''"R y" o'."''o''
u"uo' ''o i"P"'''o' VI '0''
'"oo'y'
ms ~o'"' moan ""y '"'ne '"s'
,''ua' ''A' =, Po'v"' ''e -
"","s so'o 'o'"' o"' f' ''Y,
WIN - '"o"'s,"No POI 0o,'' ~, 49,
""''"'ns '''"' ''e '""y """' ''''" ~
oa" WIN y s'shuao uo"' VI ~
o."of "o'"s' '""' :" ou' WI ,e'e',
wnne 'ne aoiia. VI h-2s s'"'"' VI
s'"'ua'o e'iNe' nave VI may nave
purchasing power o' ioo oen''' '''
uoilar Oh 20 o-io e'a'''s Vi S''ioaiu
golu mas purchasing power OIL 10
ceh's anu ye' ne w" o"' N"o"
uhat the iapofihg man can pay ms
'aAes' MS pu'cher anu ms pahe'-h's
grocer anu uoc.or as "e''' VI 'o' al Vi
MS ioou anu raiihe"' VI o'''e' heoes-
saries Oh i'ie .as reau''y WIN 'he one
ao''ar 10 WIN ''ie o,'e' wi'''ou' u ia'
ing OH IN '''e auah''.y Ut Vai""''oh oi
'he art'cie pufchaseo UT 'he service
rendered IL therefore puzzles us not
q little to account Tor The mental oper-
alton that evolved statement 80
barefaced as that above cited. Hardly
less barefaced, however, is the further
fancy that, were the standard dollar
eliminated from our monetary service,
the gold dollar would be as readily
available to the bread Garner" OF
any description az the standard dol
lar is at this time. Such u statement
on the part OF Mr.. Wells, ignores the
fact that the expulsion OF silver from
our currency would necessarily work
q monetary contraction with the in
evitable perennial effect to the wage
Garner that the rate of his wages
would soon be materially lessened.
Moreover, the amount of gold in the
country is really so small for the pop
ulation, rising iifty-eight million
souls, that 1t is preposterous for a
man of Mr.. Wells standing to
assert that were our metallic cur
rency contracted 10 one Vi goiu Elk
olusiVeiy' IL wouio nc as easy 'or 'ie
Dread Garner 10 get' 'ha' ID W earn
dollar Oh goia rs IL Is no" 10 ge.
snch a dollar fol every purpose
That coined money Is ihlnteo ior' the
standard uoiiar Is as wand OF enecuVe
TO the iaporing man as a ooliar Oh
standard gold 49, ana MT "eiis
knows tins to be the TACT SO wei that,
morally, he Is not JUSTIFIED IN using
words 80 calculated to mislead those
who read his utterances with any
iaith IN MN. lie knows that' except
Tor the single purpose OF expectation
abroad, the silver dollar Is the peer
oil or VIII go as lar as It's fellow oil
gold. lie knows, moreover, that
even Tor expectation TO London the
dollar oil 20 Sly grams oil standard
gold does not overreach That oil 4l2's
grams OF standard silver 20 per cent
nor IN TACT, as much as nan oil one
per cent, nor more than Just enough
10 cover express charges ana ihsur-
ance with the small brokerage eom-
missions involved in eftectlng the ex-
changes on the other side. The
laborlng man, however, has no occa-
sion Tor exporting either gold or sill
YER Moreover, with 1.-THE balance OF
trade in our favor, no one but the