Mexico weekly ledger., 1895-09-19

between % TO 1 and sc to /. II we can agree on
the principle. it will be very easy to arrange
l will dismiss this part of the subject with
this statement: am q public servant and a
senate. ] recognize the obligation OF @ repre-
sentative to reflect the will Of his constituents
or resign his trust.
In the last state convention a proposition tn
coin silver without q linit at 10 TO / was mega
lived. Until q different dellverenceis made by
the democracy Of Texas, I shall vote against
II the state convention of my party which as
sembles next year should declare in favor of
that proposition, my vote shall reflect their
stand always upon the foundation stone of
free popular government as declared by its
Quiescence in the decisions OF the majority is
the vital principle of republics. from which
there is no appeal but to force, the vital prin-
eiple and immediate parenc of despotism."
The most serious feature of the financial con-
tention remains to be considered. A very ac-
tive and aggressive party is now demanding
that the monetary circulation of the country
shall be placed In the sole control OF banking
be Cleared for the exclusive circulation OF their
notes, IL Is demanded that all the treasury
notes, amounting TO about $500. U 1900. shah be
FUNDED INTO longtime, tnterest-bearing bonds;
that the silver in the treasury shall not be
coined. but sold as bullion for gold; that the
treasury notes. until they are funded into
bonds, shall be redeemed In gold alone, and
that as often as the treasury is emptied OF gold
bonds shall be sold 70 oDJain more TO pay the
same notes,
The objection alleged against the treasury
notes as O paper circulation is that they are not
elastic" They can not be expanded and con-
tracted at the pleasure Of the banks.
The democratic party from the organization
of the government has opposed the policy OF
authorizing banks TO issue the circulation of
the country.
Banks are as necessary to as mer-
chants and common carriers. but IL is not the
Issue notes that are to circulate as money.
That IL Is the prerogatfve OF sovereignty-as
much as it is to coin money and regulate its
value.
When the government retains the power Of
coming and issuing, 1t is exercised by the rep
resentatives Of the peuple for their welfare
10 for the public welfare, but for the profit of
their stockholders.
Bank circulation under existing law can not
be expanded and contracted at the pleasure of
the companies. 1t is limited In its is
sue to u certain per cent. on the value
Of the, bonds deposited to secure it.
overissue secures stability in our cur
rency and preserves the standard Of value. II
be determined by corporate companies. and
they are permitted to contract and expand the
SnS maj aoa at t nsia. gi ga oiFsn ta as n ;osn P put It S =.
made by such an exercise Of power.
| The people of the United States have had ex.
perienee enough, and more thar enough, in the
From 1880 to 1885 the exigencies Of war required
the government to issue paper money to OK
Gsss; sn %s MI 4 Ra1sss f Fl p Eve so Ds Ssas Up u. q ss the
| power Of issue would be TO establish and keeu
p tine ne e peace ., x 1ns 1HE v,ra di conditions az naon we
all classes those who work for money wages
~f RVerS % m ass f Esass s safs sSiId who is paid in
money Tor services receives the highest posi-
now the gold dollar ana the silver and paper
dollar that ID invested With the functions Of
t Rss sol d, d tSs isa sna siFs y = sos on Its are credit ean:
TONS and gambling irsT saiiminated from ,m2's bust.
pssS Of aae ee sasHH Vssns ri sfr %ao for pe equal ans value Rleh re-.
ceived. Whenever this standard is supplanted
by q Deprecated monsy. whether silver or Pc.
the wsge-earner lives are controlled by speou.
lation and stock 1obbips; A feyerish demand
II made for all articles that may be sold again
As the money depreciates 1t increases In value
and the price Of commodities correspondence
rises.
point far below the prices of the things which
There is no demand for his hire to-day tina
he may be turned over 20 another to-morrov
at q higher price. Speculation does not dea
in labor; only in the products Of labor.
,a so 10 pise and srss to fa,i when ppioss az,
1909 81 sss.s By SoS ssPI i A. SoI .sssy; sii5ssss%s
because bee gaDsT w nSnY ISSUED an BY oorpSrssions i aamft
Of greater elasticity butany money that is be
low the best and highest standard is a none
that cheats the wage-earnera ut every turn.
Let me give an illustration: A few years ag
a very extended Investigation OF this subjec
was made by the finance committee of the sen
ate. Prices and wages were examined fSor
1910 to 1862. The evidence demonstrates hs
yond all controversy two facts:
3s ss.ss Ia slis k as:iss si ss ss tine Il a. a.
.. ssssPs: T ssss lsaass sS sssssa e. e gys sas i ssss
xsls Is ! ysry nsgHgyy s.ns,sls9 for the wsss
dard q tho gold dSlar.IT He Is benefited b!
s Ssae sSssf again sH s s g ss | cay decline Ess IN En- e.
PRICES ., t .as 4, tn ,Es Sh.se he ., ms.s by;
Z sfss eaS were eCys sSas's the p sist9ie q sa sns s%r saass
S SatsA s Many 9, e shs ss ssslsiss r shiea @eT Hs a y Rs
snan that; Fuel tell e PEI cent. metals. 50
s? 9Sisi i ssSdss he wsgs-xostsr.' s!test.s'
RsiRsss s sRssfa ssss svs sef an sSsa'FY h h IsSs s
S Ess f. sssa s. sss sssSnia''0n' and the paper doila
.O %ss g. y s5 RsR ss. 1 81 iss5 eaa risen o per 0sn'
los u PEI re ss san sp owe t e S soia rat rate p9 hams asi is eii pc
S IL Per N cent. os ssis III n pss osns. .s reRs sa d's Sugar rs !
ct per ss1 osns salt atil III ! Rss rs ssP per- ' cent. Ssh hesshl
81 pss cent assiis y, be- cent pl19ss a.. shl1,ss
Der cent., and Quinins Isl per cent.
Issif s sSaSss wA ges Iss Us Of saF nsf sA sssn sa ana
standard IN 1881 and see how the wage-earne
We ind by Inspecting the returns that wage
had continued TO rise throughout the Who'll
term Of ffty-twoyears. but prices OF eommodi
Wages In 1891 were 90 per cent. higher tina
2 lss9 2 a ia t. sS old, were Sas 81 Per % cent nsr h csns
hams e 90 per Der cent, New Orleans noiSssses 70 Dc
sugar s. per sssns.. calico ii per cent, two-pl
aasliiha ' y !esr 0 sJ gss ': shes sHa.@; IS = 5 Ser cent cent
soai y Be- .csSs. SsIj. y pei cent, pine shlt
se asss z sn 4s su fsRs;' . si Pss o.a glass i03''' '' Pc
The year iSeo, 9ndes the gold STANDARD, wa
re ne y ssn sstA s Sn ass t si,s ssAs so iss5 s sonp paIss
J and wages were marked above and below this
Tor the 6thsr years In proportion as wages an
pt Tsf,n @sp 10 1 toR 80 as S' iSS cents E the price of
i Ii ll st! ]! ! S &: !; +: J, III 4. e p sss :, :. s s.s'
~ s g ssn New rs ori ssnsG nS eSssss Z i esp PEI T "a
lSn, r1os ss 4 ssR's sd PET D 70 esih gag s.l X S y e. 3.
ss sa zssd, D a" S.Rss, 'n 1rlillas s:'s g.. t siias RsT sal !
teseups and saucers ~ cents q pair. and glas
The wages Of one days labor at 81. 50 in pap,
q SS Suss ssss g. Ply y p % SGs Os S 81 Sen ST e II S Rsilos
soap, Or is pounds Of rennsd sugar, or sX yart
grain carpet, or IN yards Of denims, or 5 yard
Yards Of women's sll-wool dress goods, or
saif-dozsn glass eobIets.
IN 1879 We retufhed to the gold Standard ar
have remained upon that standard ever sine
I, H.5 ss'i sn sa' e.. Rs''f pf Il = az e so Sir :, Il e. s sas,o II
named above were e follows; Coffee le gen
per pound. butter %, meat ex, New oriesI
n gsass' sos 2 8 es sssn!sS s sugar. ssn e, f osii 3 egg 3 e. E
psg gsEhff o svs.pl Syri inErass 8 e saTns's sts D ssns
Sss:s' s sssssla q COTS 81 es sasis p Ts@sns c:a .s :,
cups and saucers ~ cents per pair. and giai
gobiets Is cents per dozen.
dsy.s wsgs = 81 .e ~ ins 20 /, s1. ., AZ IL i poan wSs
; 1853, eH pounds Of butter Instead Of .. "A ponn.
ns sss II ini Is po9 IN 81 so spi instead q :, :
! pounds Of rennsd sugar instead Of IS. 90 ysr'
q calico Instead Of 81, . yards Of two-ply tn
] gg. 1s,a st ! s' Il Ssaa. O. # 4 ari II ssf in:se 81 q ef s..
yards OF Ginghsn instead Of 0. "a yards
Z sbeetiur instead OF 81, Z yards Of women's o.
] SeaIaEs:s Eo2 Nsa aa,ss. q q gsa 81 2 s ,ssss sI Rlss
, 1900 OF q. and eN do1en glass aobiets 1