The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1889-05-08
Ffhai Detcrlni.,es zFages.

Because workingrnen In ii

stoilcrs in other lands, ignorant men
are made to believe that our high
tariff is the cause. We have pro-
lection, England has. free trade;
wages are higher in tile United
States than in England; therefore a
tariff increases yages. Such is the
reasoning and the logic which mis-
lead and deceive those who eat their
bread by the sweat of their brow.
The same Causes will produce SINH
lar results. If protection $50 called)
in the United States gives to labor
a larger reward, it would do the
same in England, France, Germany
and all other Nations, Labor is
much better, paid in ti,ee-trade Eng
land than in any other State in
Europe where high tariff exists
In Germany, which maintains the
highest rate of duties, labor re-
ceiyes the poorest pay. England
changed her policy from protection
to free trade in 1916. and since then
wages have doubled in amount and
the cost of living is less than one
half what it was. The known facts
explode the theory. 1t would be
unfair for us to claim that the re-
peal of the tariff laws in England
was the only reason for the improv-
ed condition OF the working classes.
or that the larger wages paid in
England than in Germany, France,
Belgium or Italy We're solely be-
cause of her free trade. We insist
that the tariff is an insignificant fac
tor in determining wages anywhere.
When duties are imposed on the
necessaries of life to the extent of
the tax they are a discount on wages.
There are many elements which go
to increase or diminish the wages of
labor, but the tariff is not one of
them, or its influence is SO small as
to be unworthy of consideration.
The first, and probably the most i'm
portant factor i'll determining the
compensation to labor, is the demand
for it. If there is great amount
of work to be done, and the unem-
ployed are scarce, competition
occurs among the employers of la
Dor, and All advance of wages is the
result. If, on the other hand, there
are twenty applicants for every va
cant place, the competition is among
the unemployed, and the lowest bid
der is successful.
Another factor having power
ful influence is the abundance or
scarcity of money. An ample and
increasing supply of curre!icy-im-
parts life and actiYity to business.
encourages the undertaking of new
enterprises, and increases the de-
mand for labor and resulting ad-
vance of wages. A sinking volume
of money par;rlyzes industry and
throws labor out of employment.
One of the best evidences of n de-
ficiency in the volume of money is
that men engaged in enterprises EN-
plOying Il large number of hands,
and possessed of ample resources,
are borrowing money to carry on
business.
When manufacturers, merchants,
dealers in real estate are swarming
about the banks TO get accommoda-
tions, it is evidence that there is
deficient circulating medium, and a
financial crash may be expected. a
money panic never occurred when
there was n steadily increasing
amount of legal tenders. 1t will be
remembered that ut the close of our
civil war prudent business men were
not i'll debt, the line of bank dis
counts was very small. When the
contraction policy was inaugurated,
business men resorted to the banks
for the money necessary to 20 for
ward. If manufacturers, their goods
were shrinking in commercial value.
They held on to their product, con-
tinued to negotiate loans, until the
crisis came when they could no
longer borrow, and their goods
would not bring cost The accumu-
lations of years of prosperity were
swept away, their credit exhausted
and they were bankrupt. 1t will
be remembered that the catastrophe
did not come until several years al
ter the contraction took place. The
suffering victims of the cruel wrong
were the most enterprising and use
full men in all the business interests
of the country, and would not yield
TO the inevitable until their property
and credit were gone.
Mechanics and laboring men were
we'll paid when money was plenty.
When the contraction camethe high
ways were crowded with men seek
ing in vain for employment. Dur
ing all this time, let it not be for
gotten, we had the same high pro-
tective tariff 1t did not protect nor
afford employment or wages. The
tariff did not bring prosperity, nor
avert disaster. Panics and dBlack
Fridays" starvation wages will
never be found, tariff or no tariff,
when the channels of business are
well supplied with legal tender
1t the Government will furnish n