Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-04-16
A VAST AUDIENCE
ynLED THE AUDITORIUM TO HEAR
rnn ADDRESS.
rhe Speaker Diseased the EeInuons
of the silver ase.tion to Labor
The Laborer. He Argued. Is not
Benenttcd by Deprerlatsa cur
reney.

LnicukOs April Dillon. jpnn u Gar
iluie spoke on the currency question at
the auditorium tonight before an au-
dience that filled the great hall TO the
utmost. The address was delivered
under the auspices of the laboring men
OF Chicago and they were there In full
force. nearly three-quarters OF the
crowd being worklngmen. Many local
Democrats wished to obtain ar inter
view with Mr.. Carlisle on the president
tnl situation In Kentucky, but he firm
ly declined 10 talk politics in any way
He said he had come TO Chicago to
make an address on the currency ques-
tion and nothing could induce him to
talk politics. His address. which was
greeted with much applause and which
gave satisfaction 20 his hearers, was as
follows:
After discussing the general phases
OF the silver question. Secretary Car
hsle took up its relations TO labor. He
said:
After struggling for moe than q
quarter OF q century. through labor or
PLANTATIONS and otherwise. to secure
rate OF wages which would make the
proceeds OF a days work equal to the
cost Of days sustcnance, for the
working man and his family. you are
asked by the advocates Of free coin
age to Join them In destroying one
half the purchasing power OF tho money
IN which you arc paid, and impose
upon yourselves the task OF doubling
the nominal amount OF your wages
hereafter; taat IS. TO struggle for an
other quarter IA century. or per-
hap5 longer, to rai6c your wages In a
dcpreniated currency to n point which
VIII enable you TO purchase with them
as much OF the necegsarics OF life as
you can purchase now; and II, after
years OF contention, prlvntioh, and In
dustrinl disorder, you should mt last
succeed In so adjusting wages that
they would procure at the higher prices
OF commodities Just what they will pro-
cure now at the existing prices, what
would you have gained by the change
from the old to tho new conditioner
Money received for wages, like money
received on every other account. is
valuable only to the extent that II
can be exchanged for other commodi-
ties. and Il ~ scarcely necessary 10
suggest that dollar worth 30 cents
win not purchase au much In the mar
leta az a dollar worth 100 cents. To
call dime n dollar would add moth
ing TO lts Intrinsic value. or to Its pur-
chasing power II these propositions
are correct, II IS clear that when wages
are paid In n deprecated currency
the ratea OF wages must be increased
In proportion TO the depreciation Of the
money and IN proportion to the In
crease In the prices OF other things, or
the laborer win Buffcr loss But.
aiiirm that II is the universal rule that
the rates OF wages do not increase IN
proportion TO the depreciation In the
value OF the money IN which they are
paid. and that when the currency Is de-
preclated the rates OF money do not
incrcnsc In proportion to the Increase
IN the prices OF the commodities the 10
borer ie compelled 10 purchase. II
there has been single exception 10
this rule in this or In any other coun-
try. my Investigations have not enabled
me 20 ind Il, and ! do not believe one
car, be fourd.
II Is not my purpose TO weary you
by the presentation of volumnoua sta
tistlcs or by n tedious recital OF facts,
but the particular proposition now un-
der consideration Is OF such great Inn
portance In the discussion OF this sub
sect that you muat permit me to call
your especial attention 20 the expe-
rience OF the laboriug people In our
own country during the years imrno-
diateiy following the Introduction OF a
deprecated paper currency In 1902 md
also to the very low ratio OF wugca
which now prevail In countries having
the silver standard OF value, or the 80
called double standard OF Waite with
coinage OF silver at q legal ratio not
corresponding with the commercial
value OF the metal. and. In doing thla,
will make no statement that cannot
be fully sustained by reliable evidence.
On the Sd OF March. 1881, sub-com-
rrittee OF the committee on finance in
the United States senate made n report
en- the COURSE OF prices and wages In
this country for period OF fifty-two
years. embracing the prices OF almost
every article OF consumption in COM
mon use among the people and tho
rntes of wages in almost every Indus
try carried on during that time. and In
order that you may learn from this Of
fetal ana impartial investigation what
effect deprecated currency has on
wages and prices. viii briefly state
some or the most material faetH and
conclusions embodied In that document
The subcommittee consisted or 1--WE
senators, representing both political
parties and both sides Of the currency
question. and the investigation, which
lasted nearly two years, wns most
thoroughly and i,npartiaily made. with
ne purposc In view except to ascertain
and report the actual facts; and, 80 far
na Il relatea to questions OF fact. the
report was unanimous Az stated here
ioforc congress, early IN the year 1862,
iaRugurated the policy Of isauing legal
trnder paper, gold was driven out OF
circulntiun, specie payments wore eus-
pended. the currency began al once 10
dfprcclatc and before the close OF tho
yrnr the paper dollar WAS worth iesn
Than 10 centH IN gold From the time
The depreciation began tho price OF
commodities and the wages OF labor
WIRE puid ~ paper currency, and the
lni1rious effect upon the interests Or
the lrpQring man h clearly shown IA the
ffpurt referred 70. IN 1872 the wagon OF
labor, paid In deprecated paper We're
is6q than , per cent higher in paper
than when paid IN gold. but the prices
OF the 22s articles used by the iaboiefs
ana other people IN the maintenaiice Of
their fnmiileg were nearly rs per cent
3dthcr than they were when paid IN
toidi IN 1858 the wages Of labor paid in
depttc'nted paper worth about 60 cents
on ne dollar, were ~ ~ per cent higher