The Maryville times. (Maryville, Tenn.) 1884-1944, 1896-08-06
SILVER AND WAGES.
Speech Of Secretary Carlisle
at Chicago.

az UllCagO.
lie Addresses a Mass lIeetingOf Work
ingmen on the Currency Question.
Makes 1t Clear That Cheap Money Always
Was and Always Will be the Wage
Farmers Enemy-Free Coinage Means
Silver Monometallis,n and Reduced Par-
chasing Power of wages-Such Has Been
the Experience with Deprecated Silver
In Chile, Japan and Mexico and With
Cur Deprecated Currency-wouid Rob
posted In Savings Banks and Building
and Loan Associations and Invested In
Insurance Policies.
We reprint below in full Secretary Carlisle's
clear, forcible and unanswerable speech to the
labor organizations Of Chicago. at the Audito-
rum, on April 10:
MIX. PRESIDENT AND dih bCho
this evening in response to u communication
received several months ago from number OF
gentlemen connected with various labor or
CARNATIONS of this city inviting me to address
them and their fellow workingmen upon the
currency and financial questions, which were
then and are still agitating the minds OF our
people in all parts Of the country. When that
communication reached me, it was not in my
| power to designate q time when my official
duties would permit mo to come here, but
promised to hold tho matter under considera'
ton and come whenever it might be possible
to do so, and ! now congratulate myself upon
my GOOD fortune in having at last found an
opportunity to meet this great assemblage OF
laboring people and to discuss In their pres
ence what / consider ono OF the most impor-
tant economic questions that can possibly en-
gage the attention Of wage earncrs in this or
any other country.
The Wage Farmers Interest In Good Money,
whether the general business OF the people
shall be transacted with good money or bad
money, whether the wages OF labor shall be
paid in sound and stable currency, with full
purchasing power in the markets where they
are exchanged for the necessaries OF life. or In
o deprecated and fuctuating currency. hav.
ing no fixed value and therefore bearing no
permanent relation to the current prices OF
commodities, are questions which affect the
comfort and happiness Of every home and the
peace and prosperity of every community.
While all are deeply interested In the settle
ment of these questions 1t Is unfortunately the
case that all will not be equally affected by an
erroneous decision upon them. The wealthy
man. the man who has accumulated property
or boarded money, is always exempt from
many Of the most serious consequences OF a
financial or industrial disturbance. He has
both means and credit and, while he may be
subjected to much loss and Inconvenience,
neither he nor his family will be pinched by
hunger or compelled to 20 without raiment or
shelter.
It Is the poor man and the man Of moderate
means-the man who has not been fortunate
enough to accumulate property or money, but
who depends upon his wages or upon the prod
ucts OF his own labor for the means Of sup
porting himself and his family-that always
feels the first and most disastrous effects Of 0
business or industrial depression, no matter
whether 1t results from depreciatyl and fuc-
tuating currency or from other causes. Such
q man has nothing to dispose Of but his labor
and nothing with which to support himself OF
his family but his wages or the proceeds Of
his own labor. and any policy that even tenn
porarily suspends or obstructs the industrial
progress of the country by diminishing the
demand for the products Of labor. or by i'm
pairing the capacity or disposition Of capitn
to employ labor, must be injurious to his in
terests and inhict more or less suffering upon
all who are dependent upon him. Labor can
not be boarded; the idle day is gone forever
lost wages are never reimbursed, and there
fore steady employment and good pay in good
money are essential to the comfort and hapl y
ness of the American laborer and his wife ant
children, and he will be unfaithful to himself
and to them IL he does not insist upon tn,
adoption and maintenance Of such policy Gl
will most certainly preserve the value and sta
bility Of all our currency and promote the
regular and profitable conduct of all our In
dustrial enterprises. He cannot prosper whei
the country is in distress. when its industries
are Frustrated. it commerce paralyzed, IT
credit broken down or its social order dis
turbed, nor can he prosper when the fluctua
tions of tho currency are such that he canno
certainly know the value Of the dollar il
which his wages are paid or estimate in ad
vance the cost of the necessaries OF life.
Whether we shall or shall not have q lonI
period of financial commercial and industrial
( disturbance in this country, and whether Ia
Dor shall be deprived of permanent employ
ment or be partially employed and made
quately paid. are questions directly and neces
, sarily involved in the demand now 'seriousl,
made by many Of our fellow citizens that tn
United States, without the co. operation Of an,
other government in the world, and in oppo
sition to the established policy of ever,
other great civilized and commercial nation
shall authorize the free and unlimited coinag
of full legal tender silver at the rate Of 10 to
Notwithstanding the true market ratio be
tween the two metals Is about 81 to /, or, II
) other words, that the United States alone shall
declare by law that 10 ounces of silver ar
equal In value to ounce Of gold, when it !
an indisputabIe fact everywhere recognize,
, that in all the markets of the world. in silve
, standard countries rs well as in gold STANDARD
countries. 10 ounces of silver are worth onl,
about onc-half as much Ms l ounce Of gol,
and will purchase only about one-half as mucl
of the necessaries Of life.
What Free Coinage Really Means.
The naked proposition is that the Unite,
States shall coin, ut the public expense, for tn
exclusive benefit of the individuals and cor
poratons owning the bullion. all the silve
that may be presented at the minis into dol
lars containing T114 grains Of pure silver, o
4l2L5 grains of standard silver, worth intrin
sically about 81 or SO cents, deliver the coin
to the depositors Of the bullion and compel al
the other people in the country TO receiv
these coins at valuationsof 100 cents each i
the payment of debts due them for propert
sold. for labor and service of all kinds. TO
pensions to soldiers and sailors and their wild
ows and children, for losses sustained unde
policies issued by life and other insuranc
companies. for deposits in savings banks. trus
companies, building associations and other In
situations for debts due to widows and orphan
by guardians, executors and administrators Q
decedents, estates and other trustees, for sala
ries Of all civil, military and naval official
and the compensation Of private soldiers an
seamen, and, in short. for every kind Of obi