The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-08-02
TELEPHONE NUMBERS;
Editorial Rooms ,iai. Counting lsOOm ".'iIO'
Gm ~gat4el6gemeer
wuEE1lNo, AUGUST 2, 1893.
Wage Workers and the Silver Ques-
ton.

Wage Workers and the Silver oues-
tion.
The convention OF the silveritcs, now
in session at Chicago, has for its pur-
pose the inauguration of a popular
movement throughout the country
against the repeal OF the Sherman law,
unless it DO followed by u FREQ coinage
net, or some other substitute providing
for the carrying out OF their bimetaIlic
policy. Their avowed intention ia to
recruit this movement from tho labor
ing classes, relying upon the probability
that enough dcmagogues (who are over
ready to bend tho knee to the demands
OF labor organizations for the sake OF
! their votes and for no other reason) in
Congress to pass a free coinage bill.
They hope, by incendiary speeches
and resolutions, to inlamo the passions
Of the laboring and poverty stricken
classes against the monometalIists.
whom they term the gold bugs" to
tho verge OF revolution, and by
this Q to lntimidate Congress.
There is little doubt that the efforts OF
tho fanatics and d~emagoguea who com.
pose tho convention will be very
effective in this direction, but it re-
mains to be seen whether or not a
considerable number OF the intelligent
wage workers OF the country will be
misled by their appeals.
No class OF citizens ,,.s moro directly
concerned in this question than the
workingmen, and no class will more
quickly feel the evil effects OF tho pol.
icy for which this free silver conven-
ton will ask the w~orkingmen's support.
Very little calculation is needed to
show the mon who toll to save and
who have their savings on deposit in
the banks of the country, what the free
coinage OF silver would do for them.
The Banking Maga:inc as quoted by tho
Chicago Tribune estimates tho deposits
in the banks OF tho country, as follows:
Savings banRs, deposited by the
Ware GLASSES. ..... ......., ......,.p.y,,S 81, ;6S, 10000
Deposits IN the national banks by
business classes ,....'".".",;'".; i,!O1'Vy9UO
Deposits In state and private banks l,lt3,OU,OOO
Grand totGl...r".."" ...."..,"...Si &c., OO, 900
This is u vast amount OF money. 1t
is an almost uncomfortable amount.
Stated in words, it is four and two
thirds billions OF dollars, or four thou.
sand six hundred aud se~venty-six mill
ions. Every cont of it was deposited
in gold, or its equivalent in purchasing
power. Whether gold or not, every
dollar OF it is worth u dollar in gold.
The silver fanatics in session at Chi
cago, propose to force Congress to
change tho standard OF values to the
silver basis. Tho bullion value OF u
silver dollar Mt present is only 81 cents.
Adopt tho policy proposed by tho sill
verites and you cut down tho value (thC
buying power OF the vast deposits in
the banks OF tho country nearly one
half-more than two billions OF dollars
Tor two thousand millions). This
would DO the result, according to the
authority quoted above:
The Waite OF the deposits on gold
basls were. ........,...,.. ..,.............. 81 ,67G,0C .00(
The value on a silver basls would be 2,oSb,OOO,6U(
Dead loss by changing to 81 cent sill,
yer dollar .,.,,..,,.,. mathematician. lal ,UOO,VU
The WACO carners, who have nearly
two thousand millions Of dollars on do
post in tho savings banks OF the cOun'
try, would find tho purchasing value o
their savings cut down nearly ono.hali
US follows:
Value OF lObor's deposits gold
value, .,,,,,.,.,, ...,~. "."" ",'".. "."Ys l,7Oe,VVO,OO
Value Of ditto IN silver bl'Coht dol.
lars ,,"m.,,",," .'''.""'''''.'". VW,dO,W
shrlnRago in buying valuo ,"..".S sOS, 10000
This 10 what the domagogues In Scs
sion in Chicago, who intend to cnlisI
tho labor organizations Of the country
in their cause, offer to the wage workers
They tell tho w%orkingmon Of tho United
statos that to change the money stand
ard from tho 1OO-cent gold dollar to thu
bl.cent dollar will enrich thom by In
creusing tho volume Of currency! d.
tho Intelligent workingmon Of tho coun
Try Wow the question In that way, or d,
thoy prefer tho lOO.cOnt gold standard
-
VINES II comes to oil the average West VII
pinlnu has eyes That magnify nbOtt 400 did
meters ihsOpph Commercial GdGdtt,
You libel tho ''avoraVc WoSt Vlr
glnian.n Amend that 90 asLo read 'th,
Parkcrsburg liar's eyes, &c, aud al
will DO forgiven.
-
HoKE sMrti makes light Of tho crltl
cisms OH his pension policy by snylnI
no doesn't care" There will DO a do,
Of reckoning, when tic secretary Of thl