Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1894-09-20
MUST WAGES BE LowERq
A Question for Gold MOnOmetalllsts t.
AnaWar

A Question for Gold MOnOmetalllsts to
Answer.
The London Times, England's famous
"Thunderer, has played the first card
In the second brace" game of consol.
idated capital against every interest in
the world. In late financial article
It declares, according to the cabled con-
densation, that the questions Of cur
rency depreciation, silver, etc, sink in
90 insignifcance compared with the
immense reduction in the returns on
capital due to continual rise in wages
1t says the capitalists of the United
States are reduced to striking point
Mt which they are prepared TO stop
their works unless wage reduction Is
conceded, The imitation Of trade
finance and the labor market had to be
followed by natural, and in some
cases violent, collapse. In England the
process is less violent but it proceed
ing"
The financial article Of the London
Times is the sage authority which the
gold monometallists of theUnited States
are constantly citing for the edifcation
and instruction of bimetallists In the
conspiracy for the appreciation of gold
and the depreciation of the value OF
every other commodity, silver, wheat,
cotton, corn, cattle, or anything else
measured by gold, that paper has been
leader. British to the core, it of
course serves the interests of the
tight little island" first, but as the in
terests of the holders and monopolizers
of money have become identical the
world over the efforts of the Times to
enhance the value of their capital are
appreciated as highly by the bankers
of Wall street as by those of Lombard
street.
The first step in the conspiracy which
began with the decentralization of sill
yer in 1873 has been successfully taken.
Gold, by reason of the increased de-
mand for it, has been doubled in eX.
change value. That means simply that
every other commodity has been de-
creased in price 50 per cent. This is
matter of common notoriety, demon
stratcd broadly by market quotations
on wheat and food products, and
brought home to the ordinary individ-
ual by the constant cheapening Of
goods Of daily use in the retail stores.
The gold monometallists have en-
deavored to defend their position by
declaring this universal cheapening of
articles of general consumption a gem
eral benefit. To the one primary pro-
Queer the farmer, they claimed it was
no injury, because the goods he had to
buy were cheapened in exact proper
ton to those he had to sell. OF course
the interest on his mortgage was not
lessened in proportion to the price of
his wheat, but that the gold mono
metallist conveniently ignores. And
dismissing the farmer thus the monop-
offers of money go on to plead that
every wage worker is actually benefit
ed by this universal cheapness, be-
cause wages have not been reduced
while living expenses have.
Such was the argument a few months
ago Having accomplished their pri-
mary purpose the gold monopolists
change their plea. Wages, they say,
must come down because everything
else has come down. The worlingman
must not complain if his wages be cut,
for has not the cost of his living been
decreased? 1t is a poor rule which will
not work both ways, and work this rule
either way you choose it still operates
to the advantage of the man with capt.
tai and against that of the man with
industry only
Wages, the London Times tells us,
must come down, and its dictum is
echoed by an army of gold bugs in this
country. If he be democratic gold.
bug who speaks he will tell you that
wages must come down because there
are too many men in this country-as
if there could ever be too many pro-
ducers of good and necessary things if
opportunity to produce were not de-
MED them. If he be q republican he
will lay the blame for the decreasing
reSYards upon tariff reduction. Neither
isMght. between money monopolists,
democratic and republican, there is alb
solute community of interest to-day,
and the tariff agitation of both is de-
signed only to divert public attention
from the one issue, discussion of which
both dread, the question of contracted
currency, Chicago Times.