New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-12
A BUSINESS MANS VIEWS.

point In the history of the country there hao
been many crazeS." One of these was wheh
number of people got the notion INTO theil hc ,
that if the Government printing ohces were lu i
all night printing paper money everybody WVudu
have plcniy of il and be happy. Inns silver
fever was another such craze. Inc people oi tins
city, he thought, had been unfalhfui 10 theiI ua,S
i'm not letting the country know long ago Wl1G uIe
financial men Of this city thought about the silver
bill. $780,. :. .ho
country generally was confidence The value ana
convenience OF notes and drafts rested entreN
upon confidence The people must have confidence
in the currency Of the county no mater Of WIN silver
and gold the people who needed IL could nov rCd1'
il if there was TO confidence among people VINO
had the gold and silver 50 they Would De WILLIE
to put it into circulation -.
II was ALWAYS dangerous to change the basis OF
values of any country, he said, and no good reason
had been given why il should be changed III thls
country at the present time lie could not see
why the country should take this step IN the DARK
and run the risk OF all kinds Of financial disi.Wis
lust now All the talk about the change OF tle
financial policy of the country tending TO help ire
wageearners and 10 make their burdens llehlcT
was not well considered: He had always iouhH
that thrift economy and hard work were the quail
tiles which brought fortune. lie did not thnk
it wise policy for people wLon they became
hard up" to go to the Lcgsla1uTe Tlln Ule cA
pectation that they would be helped out.
ExCoNTRoILER TRENHOLM.
Mr.. Trenholm was listened TO with the greatest
home to his hearers All Lis points were made
with telling effect Part Of his speech is given
below:
10 pass the Free Coinage bill before Congress
will be equivalent reducing The monetary ult from
-'o6 of me Coinage such as las often been pl,cscd
ly sOveregns under stress of circumstances, but ma
been uniformly cNccra' ty historians IN every ar'
and Of every nationality. IL is proposed to 40 ~,
no.some thing nov ana IN th!N Iayo;@ aaha MI.p'
the excuse Of national or even general hadAclai us
Those who advocate it tempt the people to its
tempted them to debase their coinaec> namely, as
free coinage Of silver said to be for the relief OF
debtors. Let us examine thu Let rs zee NO." q
beginning with that large class who live on wage
and salaries. This class comprises The men NO1I'h
and children who dependent upon daily labor ~
daily bread OF this the day laboror is the type
Every day-laboer handles more currency, IN proper
capitaist These latter utilize credit in their bu,i
ness the ay-laborer deals wholly toT ca,h; VtGi
dnriuc periods Of time more or less prolonged; the
day -labOrer his over every day that he j. ME
employed, and when he ia!s 10 90 So "Aat i Do
sold runs TO waste. go
The capital OF the day laborcr consists Of hi health
strength experience, Intelligence and honesty, hle
stock in trade is much OF these as can be Morhcd
out OF him in ten hours his business consists IN sell
ing every day one days worth Of himself. and IN
replenishng by food, shelter and warmth much o.
his vital forces as have been either worked Oh OF
The wage-eamer is worse OF than otner sellers. be
cause II he deals ds IN Ip esa3 b aris p an
The rest Of his stock dctrIorates fl quality; II no
fails to sell at all for many days he dies. lie canno,
give up his business without giving up life with II.
Hence the wagcoarner cannot refuse 10 work because
he G msy ioreSee ' its future de- @ G" he may
the utmost dist7st in the situation, but 10 his daily
sa r. foac 5 a2 on Rs Si must i i nh IN Tn en-,
whatever Congress has denominated lawful money.
that The currency is degraded in value perhaps ho
does not forcsee its depreciation: in that case when
The depreciation arrives he Will feel H. effect in tho
increased cost Of living. lie will md that the food
shelter and warmth which are necessary for his family
and himself cost him dearer and dearer; that clothing
tea, coffee sugar and tobacco, the comforts OF h.,
simple life, must be used more sparingly. becau,,
| they advancing IN price that his llIrle saving,
grow less and less until they vanish, and after awhl,
it becomes question how The household is live al
| all. Now, II a man 80 circumstance, not knowing
what Is the matter goes TO his employer for higher
wages, ne "iii pi4Da9ly be t3d that many men a.
| gOOd as ne are standing ready u do his work az
the wages lie received and further that wages cannot
| be raised when the employer himself has t. spend so
much more in order to maintain his family.
Now, what is the wage-eaIner to do in such a case
! lie knows that many other unemployed and
thclr families suffering he understands, therefore that
ne cannot compel his employer to raise hi, wages:
him TO an utterly helpless and defenccless condition b.
process tnat ne doe, not suspect and that perhaps
stance, he would not be able to comprehend why tho
tmng ne had TO buy should be advancing in pmce.
while the products Of the factory in which he is EN-
| pOyed were hard to work of at Old prices and yet
the reason is obvious enough.
bought by ryodT else they are Tie 1T
the primary comforts of life If tIey cannot be had nj
| dispense WIN regular supply OF them, When tho
currency begins to deprecate therefore, these articles,
being unalterable in real value by Of the range
of their consumpton are the first to advance in price
and as they are the only articles bought by the wage
currency depreciation falls on him. This being
peaed at every successive step in the process Of de
necessary comforts arr the first to suffer and they
suffer oftencst aud most in degree. Wage earncrs.
S ' pe po as oo G ana at e Hta the
saries of life and certain primary articles Of comfort
| 80 l 1ff
| Is mistake. such OF these articles are imported
money must sell for in ours. although no one i'm
or out of the country gains the difference. Then a.
snGa n eCcdnGr aGes as are produced at 10
extra cost 10 himself and his family of all The others
since all persons consume the aries OF life and
nearly all consume the articles OF primary comfort and
since those who live by their labor or upon liked In
products Of our domestic industries will lid their
I'm proportion to the reduced purchasing power Of Tho
currency, where shall we find man. woman or child
who will be exempt from suffering discomfort or loss
our currency falls from It's present parity with the
worlds money 10 the lower level Of the silver dollar
There IS class Of people who expect to gain by
gain. NAMELY the holders Of Government bonds and
tercst are specially agreed to be paid n gold these
securities have long been held against Just such con
Of our people that as re they have not U ' onv ' no
favored previous silver legislation but many Of them
coinage. in this case some OF them although not
all are more saga"OuS than selfsacrfcng: they
have interests besides their interest in said bonds
and theJ know that in the general reckoning up they
will out losers.
Another class who count on gaining by the triumph
Of depreciation comprises the spectators and gam
blcrs Most of these will doubtless prosper during
the confusion; some If them may even survive tho
cnux Of the tide and save part Of their winnings.
but this is ptifuy small gain I'm national point
Of view u set against the food Of evil that in
evitably VIII he prcclpltacd upon the country II
the Is contracted Suddenly and the srrinken
column Of il is further reduced in purchasing power
BY twenty cents every dollar II contains An.
plausel