Pine Bluff daily graphic., 1895-06-02

effective currency ot the comm unity ia V hieh he livcH, becauHe these characteristics enable him to become purchaser of tho comm odi- ties it has to sell, although at the time he may have neither money nor property. Credit ia Q purchasing power, and the man who possesses 1t competes in the market with the men who possess aetuatmoney, and contributes as much as they to the mainteR- anee of prices. To assert that prices aFo fixed by the amount of redemption money alone is equivalent to the assertion that if all the silver dollars subsidiary silver eOin, silver certificates United States otea, treas ury notes, national bank notea and every other form of credit were destroyed, leaving nothing but the gold, prices would remain the same as they now area proposition prepoaterous on its face that 1 presume no man with any regard for his reputation would venture 10 mako 1t except in dis guised form,
 WOULD HURT LABoR MOST
 "The great majority of our people render services for wages in ono form or another and they are compelled 10 purchase in the markets everything they eat, drink or wear, and in most eases they are compelled to pay rent for the use oi bome for tbemaelyes and their families Like the farmers, they have no silver bullion to carry to tine hints to be coined at the public expense; they have nothing to dispoEe of but their labor and their afill. and as a general rule ali, or sub Rtantially all, the wages they receive must be used in securing commodities foF the DOT sonal use of themEelves and th0ae dependent upon them. They cannot eat drink or wear the money paid to them for their labor, and 1t is valuable to them only because they can exchange it for the nscessities and comforts of life; and there never " a time in the hia- tory oi the world, when the working mun'e dollar would buy as much of the neeessalies and comforts of life as it will buy now, and there never Was time in the history of the world when tho working man received moro good dollars for the same amount of labor than he receives now tn this country. Any policy which reduces che value of this dollar on the day it ls earned or on the day 1t Is eN- pended, by dIminilhinG it's purchasing power in the markets, has precisely the same effect upon the holder ss if the amount paid for hia labor were reduced II, thot efofe, the iayoTite argument of the advocates Of free coin age-that the free coinaGe oi silver at tho ra- tio of 10 To would double the prices Of all produets-is correct, The wages Of the labor ing man would purchase under that system only one-half what they now purchase.
 WAGES WOULD Nor DOUBLE
 This would undoubtedly be the case un- tess wages should also be doubled, which, ac- eording to the uniform experience of the past, is q most improbable thing. For moro than quarter of q century the working peo- pie of the United States hare struggled earn estly and persistently, through the labor or- esnizatio ns and otherwise, Q increase their wages to roint which would enable them to live decently and eomforts hiy by expend. Ing their earnings foY comm odities ut theIF present prices, and how long do you think they would have to struggle in the future to raise their wages to point which wouid euable them to purchase the same articles when their priees have been doubled? No man in this audience will live to see such a reRult accomplished, and the lH boring man who supports the free coinage oi depreciated silver dollars must he content 10 llye and support his family upon what appreciated silver dollars will kuy. My position upon this subject Ia that when thu lahorer receives a dollar on account uf nis W ages he has a right to be assured that it will purchase as much In the market us any other mans dol lar, if he desires 10 lay It up for use in a time 0. nsed he has right to be assured shat it will be worth as much when he wants to spend 1t us It was worth on the Gay hs earnad 1t.