The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-10-19

Ono 1uhtedlv thousands of wage earn
ers believe that somehow they would
lie bered;ed by cheap money. Tho most
modern form of cheap money, rs it OK
lists III their childish minds, is tho 80
cent silver dollar, made OF this nluo by
coming II Mt ratio OF l6 to with
gold Such persons are other incapable
OF reasoning CT they have never really
applied their reasoning powers TO this
question. Neither have they learned tho
lessons of history i'll regard to cheap
mercy aid WAGES. ~ pamphlet entitled
EQUALITY Of Money and Wages" has
just beon published Ivy the Reform club.
which is intended TO teach the lessons
of history and To facilitate clear think
ing on this important question, It's n,i-
thor, MI Frank L. Money, first demon
strates in the smplost way that II de-
prcciatinS currency must injurc the
wage Garner. Here is the way ho begins
his GiSc1ss:on
Tho operators i'll our mills and fac
tories, together With those engaged in
day labor of other kinds. constitute !.
grest creditor class. They are creditors
III the sense that they advance labor. At
the cad OF day or week the amount
duo them for services performed is
greater than that owing to any uthoY
class. But i'll the majority of cases he
wage Garner ID dependent upon his daily
or weekly earnings, 80 that the vital
question with him is rs to their imme-
diate purchasing power.
1,i H..
the things which he consumes Every
ching that goes to mako goods cheaper
rends to increase the real rs compared
y'ith tho nominal wages of the work.
man, for lie is then getting more goods
for tho same money. On the other hand
every tendency to make things dealcr
tends Ia decrease il corresponding de
gree the real wages of the PEOPLE.
Wages arc high on low according to tho
abundance Of necessities, comforts or
luxNrics ohtG!nahle for ;hom. -
Afr. McNcy proceeds carefully to in
qNire into the Citations between none,
prices aid wages Here is another Of
las statements:
Tho prices Of what wage carriers
have 10 luy respond FAR moro promptly
TO changes in tho quality of money than
do wasos-tl!e prices nj which labor is
sold. Hence whenever money is getting
better though nominal wages may tend
"a decrease, wage earners ate constantly
getting more goods III exchange for the
money they actually get for their labor,
and whenever money is getting poorer,
though nominal wages may tend to in
crease, wage Gamers nrc constantly get
ting loss Of the neCessarics and comforts
Of life IN return for the wages they re-
ceive. Appreciation Of the dollar in
which wages are paid and consequently
lower prices are therefore constantly and
certainly to the advantage Of the wage
Garner. Depreciation Of the dollar and
consequently higher prices are always
and certainly 10 his damage -
After reaching conclusions from thco-
rotical reasoning Nc studies the pxue-
rienca Of most If the leading countries
of the world Ee finds that not only arc
wages nearly always lower in silver
than in gold standard countries, but
that there is abuuduut reason why such
should be the case. To cite one instance
be shows by statistics and Diagrams
that our wage earnars during our civil
war suffered great loss in wages duo
to the depreciation Of our currency In
1865 days labor purchased only four
Afths IA much rs il purchased i'll 1860.
Wages had risen only about AZ, while
PRICES had risen 30 per cent since 1861.
Thia Notwithstanding that the with
drawal oi one fourth Of our best work
ere to serve as soldiers greatly lossened
She competition among laborers and
that both before aud since our srsenhack
:nfation period both nominal and real
wages have been advancing from year
TO year,
Mr.. McVey closes with the following
impartial statement
Tine only fair and inst currency ia
all parties is q stable one. Under such
currency the conditions Of the future
are more easily ascertSinable, legitimate
enterprise more confidently entered upon
and progress more sure Wage earners