The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-10-20
The Two Things Needful.


| that:
silver dollar now, notwithstand-
ing that it contains only so cents worth
| of silver bullion Is as good as a gold
dollar because by act of congress and
by command of the people the govern
ment requires it to be eEchangeable
upon demand for gold dollar. That
Is, anyone who isn't satisfied with 1t
can get gold dollar for it.
If our present silver currency were
not thus backed by gold it would fall
| 80 per cent in value, and all who have
| money saved or wages due would suf-
fer loss correspondingly.
Under free coinage silver dollars
would not be backed by gold: the gov
ernment would be under no pledge to
exchange a silver dollar for a gold dol
lar: the value of the currency would
fail; property as measured in these
base dollars, while not worth any more
in fact. would appear to be worth more
because it would take larger number
of the cheaper dollars to represent an
equivalent for it: gold would go to a
premium; men in necessity could bor-
row only by agreeing to repay in gold
and they would, at paying back time.
find it harder then than now to secure
gold; and the only real gamers in all
the mine-owner with silver bullion to
sell. He would get two dollars then
where he gets one now; and would
work these cheaper dollars off on the
men who dig his ore, thus virtually
cutting their wages in two.
The foregoing is the silver question
in a nutshell. But there are other is
sues. Bryan stands for a revenue tar
if. He helped to frame the Wilson
bill. He opposes Protection. He ia
vors free trade. This policy has dur
ing the past three years meant to the
people of Lackawanna county and
would in the future mean:
First, encouragement to capital
With the possibility before him of be-
ing undersold by foreign rival who
enjoys the advantages of cheap labor,
the American capitalist hesitates to
build new mill or enlarge an old one.
He doesn't dare to manufacture a sur
plus stock, for that might be a load on
his hands. He just does from day to
day the business actually necessary to
be done and waits for better times.
Second, loss to labor. When the mill
is running about half time, the work.
man is getting not over half pay. Free
trade of the Bryan kind cuts labor's
wages the very first thing. The mill
owner can>fenerally get along even if
the mill isn't paying. But the work.
ingman can seldom afford to live for
very long on half or quarter pay.
Third, general depression. When his
mill isn't making money, the mill-own-
er doesn't live eXtravagantly. He gives
less to charity. He curtails his ex-
penses wherever he can. Even worse
with the laborer. He quits buying
meat and new clothes and the better
class of articles generally. He lives on
half Of his former allowance, and after
awhile has to- ask the stores to give
him credit. Put these facts together
all over the country and you have the
explanation of hard times. Put them
together and you can see why money
seems scarce. There Is just as much
money as ever, but it isn't in circula-
10 int hue ~
start 1t moving again. Steady work
under the stimulus of Protection will
mean good wages again, and good
profits for capital. Good wages will
mean a cash trade for the butcher, the
baker, the tailor and the grocer. Good
profits will mean idle money brought
out from its hiding place .and invested
where it will enliven business and
make times improve.
In other words, just two things are
necessary to bring back prosperity
confidence and work. Confidence won't
come while enthusiasts, demagogues
and cranks are encouraged to hammer
away at the national credit. Work
won't come while our tariff laws give
foreigners the advantage. We can get
both confidence and work by rolling up
tremendous majority two weeks from
today for Mckinley, Connell, Protec-
tion and sound money.
Altgeld is undoubtedly the brains of
the Bryan movement, but brains with