Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1895-08-30
SILVER AND WAGES.
HOW FREE COINAGE WOULD AFFECT
THE LABORER.

American Gold Wages VIII BE Reduced
to India Silver Wages-PrOfts of Em-
ployers VIII BE Advanced-siIver Ques-
? tion In Nutshell.
The following is an extract from
Free Coinage Dissected," a recent
number Of Sound Currency, by the Hon.
John De Witt Warner
But there is another way to look at it.
We have seen how appreciation Of gold
means higher wages to the laborer
Now let me show you what this so call
ed appreciation Of silver means. l short
ly since heard very pleasant gentle
man, Mr.. Cannon, a delegate in the
next congress from Utah, expound the
silver side Of the free silver question,
and he went on to explain, first, that
prices Of goods were low here because
they were measured in gold, and then
that, on account Of our wages here be-
ing paid in gold-which was costly
hilu wages III Auuiai Cbiud anu Japan
being paid in silver - which was
worth only one-hah what it had been
they had a 80 per cent advantage, and
that therefore there was great danger Of
manufacturers being driven from the
worlds markets. Do you see what that
means? That their wages are so much
lower than ours on account Of the az ore-
citation Of gold here; that, unless our
wages are made equivalent to theirs, in
that respect at least-unless prices are
inflated here in this country so that our
gold wages will buy no more than their
silver wages-their labor will tend to
drive our labor out. In other words, the
proposition to appreciate silver is prac-
tically proposition to cut the wages Of
the laborers Of this country squarely in
half in order to increase the profits of
their employers.
Three months ago, though l should
have argued this-for 1 believe it to be
true-I should not have ventured to
state that it was the serious contention
of the free silver advocates. But have
not merely heard it put forcibly by the
gentleman l have mentioned as speak
ing for that cause, but I have it in an
other statement. Sir Henry Meysey
Thompson is one Of the leading silver
advocates. He offered a large prize for
a man who would write the best essay
explaining how it was that China and
India and other silver using countries
were getting an advantage over Eng
land, and a great many people competed
for that prize. Mr. Jameson, the Brit
ish consul at Shanghai, wrote so good a
paper that he was awarded the prize,
and that essay Is now the chief stock in
trade Of the British agitation for the
restoration Of silver. Now let me read
you something from 1t. Sir Henry
Meysey Thompson is proud Of it. Here
it is: wages in the gold using coun-
tries have, through the appreciation OF
gold, become 100 per cent dearer than
they were relatively to silver wages,
and the manufacturer in the silver stand
ard countries can obtain his labor at
half the cost which he formerly paid; :"
hence "while old established industries
in England are barely paying expenses
new industries IN India are arising
broadcast and paying handsomely.
And the remedy proposed by silver adj
vocates in England is to correct this ap-
probation Of gold and raise prices, so
that the British workman, though get
ting the same nominal wages, will get
only half the real wages he gets now,
and the British manufacturer thus be
enabled to compete with the Indian
manufacturer.
A similar view is taken by Senior
Romero, the Mexican minister at Wash
ington, in his article in The North
American Review for June, when he
asserts that the depreciation Of silver
has favored Mexican capitalists by low
ering the actual wages Of their en-
ployees.
There is the silver question in a nut
she'll 1t is simply the question as to
whether our wage earners are getting
too high wages. They may as well face
the question II wage earners believe
they are getting too high wages, and
that this country is suffering in conse-
quence, all they have to do is to take
lower wages, or if they prefer a round
about way they can favor free coinage
OF silver, and they will get their wages
cut down half without any further trou-
bic on their part, and we will be bless
ed as are India and China