Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1895-08-29

ployers viii Be Advauced-silver CUES.
ton In Nutshell.
The following is an extract from
Free Coinage Dissected," 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. short.
ly since heard a very pleasant gentle
man, Mr.. Cannon, 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
and wages in India China and Japan
being paid in silver - which was
worth only one-half what it had BEEN
they had so per cent advantage, and
that therefore there was great danger of
manufacturers being driven from the
world 8 markets. Do you see what that
means? That their wages are so much
lower than ours on account of the appre-
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 I should
have argued this-for I 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 | have mentioned as speak
ing for that cause, but l have it in an
other statement Sir Henry Meysey
Thompson is one of the leading silver
advocates. He offered large prize for
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 great many people competed
for that prize. Mr.. Jameson, the Brit
ish consul at Shanghai, wrote SO good
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 it. Sir Henry
Meysey Thompson is proud of it. Here
it is: "Wages in the gold using coun-
tries have, through the appreciation of
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 APP
probation of gold and raise prices, so
that the British workman, though get
ting the same nominal wage, will get
only half the real wages he gets now.
and the British mauHfacturer thus be
enabled to compets with the Indian
manufacturer.
A similar y;rw 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 nut
shell. 1t is simply the question as to
whether our wage earners are getting
too high wages. They may as we'll face
the question. If 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 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 as are India and China.