Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-09-11

prerogative OF soNcrciglty--Sas much /
ak It ~ TO coin money aud regulate It's
value. When the government retains
the power Of coming and issuing e IL
exercised by the representatives of the
people for their welfare. When cor
porations exercise Il they do not do II
for the public welfare hut for the
profit OF their stockholders. Bank cir
culation under exlstlng law cannot
he expanded and contracted AT the
pleasure OF the companies. II is linz
tied In It's issue 10 q certain per cent
on the value OF the bonds deposited
to secure II. This limitation and re-
striction against over Issue secureu sta
blity In our currency and preserves
the standard OF value. II the amount
OF issue OF circulating notes Is to be
determined by corporate companies at
their pleasure, they can put up ana
pull down prices az often as proht IL
TO be made by such an exercise OF
power The people of the United
states have had experience enough,
and more than enough In the rulnous
mischlefs produced by paper money.
From 1860 TO 1866 the eNigencles OF
war required the government TO Issue
paper money 10 excess and all prices
of property went up as the money went
down. To give to banks the same
power OF issue would be TO establish
and keep IN time OF peace the financial
conditions we had In time OF war EN.
cry tlNrS OF DtONit Mbuiu w
except spectators, and OF all classes
those who work for mony wages would
be the greatest sufferers Every man.
woman and child who Is paid In money
or services receives the highest possl-
BILE remuneration when they are paid
with the best dollar that can be kept
in the circulation. That Is now the
gold dollar and the silver dollar aud
paper dollar that IN Invested with the
functions of the gold dollar and cir
culates on It's credit When all the
Industries OF the country are conducts
ed ON this basis all fluctuations, specn-
latlons and gambling are eliminated
from business and exchanges are made
upon the principle OF equal value given
FOR equal value received Whenever
this standard In supplanted by de-
preciative money. whether silver or
paper, then the prices of everything
upon which the wage enrner lives are
controlled by speculation and stock
iobblng. a feVerish demand ls made
for all articles that may be sold again,
AS the money depreclatcs Il decreases
IN value and the price OF commodities
eorrespondingly rises. but
WAGES RISE BUT LITTLE.
They keep at a point far below the
prices OF the things which the laborer
must pay There Is no demand for his
hire today that he may be turned
over to another tomorrow NJ Higher
price. Speculation does not denl IN
labor; only In the products OF labor
Political economists tell us that labor
is the last to rise and first TO fall when
prices are controlled by deprecated
money. Irredoemable paper money In
the worst OF all circulation because
when issued by corporations II admits
of greater elasticity. but any money
that is below the best and highest
standard Ii n money that cheats the
wage Garner at every turn. Let uB
give an illustration. a few years ago
n very extended investigation of this
subject was made by the finance COM
mittee Of the senate, Prices and wages
We're examined from 1870 to 1899 The
evidence demonstrated beyond all con-
troversy two fnctH First; that wages
measured by the best dollar had been
increasing all the time and are still
| Increasing, Second that prices meas
ured by the same standard were fall
| ing during the whole nfty-two years.
This Is "A very happy condition for the
wage Garner, He il doubly benefited
| by the standard OF the gold dollar He
Is benefited by the constant increase
OF his daily wage and benefited again
! by the constant decline In the prices
OF the things which he must buy. From
! 1910 to 1882 the rate OF wages Increased
| "a per cent, while the prices OF the
| things he had to buy were constantly
declining The investigation covered
the prices OF two hundred and TWEEN
tY-threc articles. which showed an
average reduction Of % per cent. Many
| OF the articles which were every day
| necessarles of life declined much more
| than that Fuel fell 10 per cent, met
ais 30, drugs and medicines 49, and
| house furnishing goods 40 per cent.
| This n today the wage workers aituR-
ton on gold standard. Let us CONF
| pare Il with the paper standard. when
| the country had the highest prices II
! has ever known. In 1866 the unlimited
issue OF paper money banished the
| gold from our circulation and the pa
per dollar was the standard. Wages
In paper money had risen " per cent
above the gold rate of 1860, At the
same time we find that beef had risen
los per cent. above the gold rate, hams
| lQs per cent, New orleans molasses,
1902 per cent, refined sugnr So per cent,
calico lal per cent, two-ply ingram
carpets, IA per cent. denims ga per
cent, drillngs 265 per cent, Hheeting,
2gi per cent. sh.rting 222 per cent, coal
POI per cent, nails la2 per cent, pine
shingles 12i per cent. window glass
i0xii 1876 per cent, and quininc lsl per
cent Here we see that deprecated
standard of value
ROBBED WAGE FARMERS
of more than half their earnings. Now
let us take these articles and the rate
| of wages under the gold STANDARD w
1891, and see how the wage Garner fares
as gold bug
We lind BY inspecting the returns
that wages had continued TO rise
throughout the whole term OF hfty-
two years, but prices Of commodities
had resumed their normal role OF de-
cline. Wages IN 1891 were go per cent
higher than IN 1860. and In gold were
~ per cent higher than Ia 1866, but
beef had fallen 20 per cent. hams 60
per cent, New orleans molnsses 10 per
cent, rice ~ per cent salt ~ per cent.
refined sugar Gs per cent, calico u per
cent. two-ply ingram carpets 60 per
cent, denlmH 7s per cent. drillingH "
per cent shectings rs per cent, shirt
lngs II per cent. ticking ~ per cent
stove coal SO per cent. nails 90 per cent,
pine shingles, 20 per cent. window
glass, l0xl4, G3 per cent, and duinine W
per cent The year 1860, under the
gold standard was the year with which
me others were compared. The NUM-
Der 100 was given to 1850. ana prices
and wages were marked uboye ana De-
low that for the other years In pro-
portion as wages and prices went above
or below II. Taking 100 for 1860 M 100
cents. the price Of days wage In ltsV
was 81 90 per day In paper. and In 1871
sl.G0 per day In gold. In the paper
money of 1866 the price OF coffee was
45 cents per pound. butter so cents,
--.-.s ~ a.,.ta Nan nrlaane fuOia ~