The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-08-11
SILVER AND WAGES.
HOW FREE COINAGE WOULD AFFECT
THE lAeORER.

TO India SILVER WREes-Profts of Em-
pioyers VIII He Advanced-siiver ouea.
tion In q Nutshell.
Tho following is an extract from
Free Coinage Dsscctcd," recent
number of Sound Currency, by the Hon.
John De Witt Warner:
But there is another way to loo,, MT il
We have seen how appreciation of gold
means higher wages to the laborer
Now lot mo show you what this so call
ed appreciation Of silver means. l short
ly since heard very pleasant gentle
HAN, Mr.. Cannon, delegate i'll the
next congress from Utah, expeuud the
silver side of the free silver question,
aud no went OH to explain, first, that
prices Of goods Were low here because
they were measured III gold and then
that, on account of our wages here be-
ing paid i'll gold-which was costly
and wages in India. China and Ja,nn
being paid in silver = which was
worth only one-half what it had been
they had 90 per cent advantage. and
that therefore thcre WAS great danger of
manufacturers being driven from tho
worlds markets. Do you see what that
means? That their wages are so much
lower than ours Oh account of the appre-
citation of gold hero; that, unless our
wages are made equivalent to theirs, in
that respect Mt leaet--unlcss prices are
inflated here in this country No that our
gold wages will buy ne moro than their
silver wagcs-their labor will tend To
drive our labor out. In other words. the
proposition TO appreciate silver is prac-
tically proposition TO cut tho wages of
tho laborers Of this country squarcly in
half in order to increase the profits of
their employers.
Three months ago, though I should
have argued this-for l believe it to DO
true-I should not have yenturod to
state that it was the serious contention
of the free silver advocates. But have
not merely heard it put forciblv by the
gentleman l have mentioned as sneak
ing for that cause, but ] have it in an
other statement. Sir Henry Meysey
Thompson is one of the leading silver
advocates. He offered large prize for
IA man who would write tho best essay
explaining how it was that China and
India and other silver using countries
were getting an advantage over Eng-
land, and great many people competed
for that prize. Mr. Jameson, the Brit
ish consul mt Shanghai. wrote so good II
paper that he WAC awarded tho prize,
and that essay lie now the chief stock in
trade of the British agitation for the
restoration of silver. Now let me read
you something from it, Sir Henry
Meysey Thompson is proud Of it. Here
it is: Wages in tho gold using coun-
tries have, through tho appreciation of
gold, become 100 per cent dearer than
they were relatively to silver wages.
and the manufacturer i'll the silver stand
ard countries can obtain his labor ut
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 ad-
vocates in England is to correct this APP
probation of gold aud raise prices, SO
that the British workman, though get
ting the same nominal wages, wi get
only half tho 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 ut Wash
ington, i'll his article III The North
American Review for juno, when he
asserts that tho 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 IL
whether our wage earners are getting
too high wages. They may as well face
the question. II wage carriers believe
they are getting too high wages, and
that this country 10 suffering i'll conse-
quence, all they have to do is to take
lower wages, or if they prefer round
about way they can favor free coinage
of silver. and they will get their wages
cut down half without any further trou-
BILE on their part, and we will be bless
ed rs are India and China.
Two Mills For Each Creditor.