The Portland daily press., 1896-09-03
EIGHT HUNDRED STRONG.
Continued from First Page.

1
Years, or perhaps many years, feel the
eHect OF the prustratiOn of industry and
business which would at least he the first
result OF change to the silver standard,
| OUT when that wore away as 1t probably
would in the course Of time and the
rull effects Of an initiation of the curren-
| cy under unlimited silver coinage began
TO be manifested, he would find the prices
OF food, Of clothing, of rents rising, but
MS wages would remain stationary, for
1t is an economic fact that in an era of
rising prices wages are the last to feel
the influence. So long as steady wor k il
assured, the laborer is much betger off
under the condition of falling prices
such as we have had for many years, as
the cost OF production OF commodities
has been decreased by new Inventions
and improved methods of manufacture.
for the necessities Of life and even Its
luxuries have become cheaper, while by
reason of various influences wages have
risen. In 1870 the average wages paid to
iaborors was $500 per year. In 1890 these
hau Increased to S485, more than fifty
per cent, while during the same period
the prices OF commodities had fallen, the
silverites tell US, from twsnty-f five to
forty per cent. Under the operation of q
gold standard therefore, no matter what
it's injuries may have been to other clas-
SEES of citizens, tho 1aborer is at least
seventy-f1ve per cent better off than he
was in 1870. Does be wish to reverse
this condition and face lower wages and
higher cost of living2 | think these facts
have only to be presented to the attention
of the workingmen to convince them that
any .grievanCes which they may DO per-
suaded they have, cannot be cured by the
humbug remedies prescribed by DR.. Bry-
an.
There are some GLASSES of employees
Who would be especially affected by sill
yer standard. / refer particularly to the
500, 900 men who get their wages from
steam and street surface railroads. Most
OF the money Invested in these enter
prises is represented In bonds whose prin-
eIpal and interest are payable in gold.
Inc annual payments required by these
oDllgations OF indebtedness are hundreds
OF millions of dollars. If gold goes to a
premium and holders of these bonds insis
that their terms shall be fullf1ld and the
interest be payable in gold, 1t means that
the railroads have got to raise that
amount OF gold or the mortgages will be
foreolosed and the properties sold. Every
railroa'i employee knows what that means
"a cutting down of expenses, disorgani-
zat1on, uncertain employment. If the
companies have to pay hundred cents
premium ON gold to satisfy their demands
1t means doubling their fixed charges
and this in the case Of nine railroads
out of ten means bankruptcy. They can
not Increase their rate of fares. for that
the legislatures will not permit. They
cannot exact payment of fares in gold.
Therefore they must repudiata their Obli-
cations or cut down wages--they certain
" cannot increase wages. Whichever
horn OF the dilemma they choose, there
fors, "a reputation Of obligation or re-
duotion OF waRes-the employee is no
gamer, for even were there no reduction
OF wages under free coinage of fifty cents
dollars he ought to receive twice IS much
wages as he did before in order to put
him on an equality with previous condi-
tlona. The purchasing power OF his
wages, II the rate remained the same.
would be cut down one-half
Against such threatened calamitics we
have met as Democrats and as patriots to
protest. Our purpose Is too serious to
permit differences on minor matters or
personal jealousies to divide our councils
or weaken our influence. VS. have come
here as Democrats to exert such influence
as we may have among Democrats for the
good of our country and the preservation
OF our party organization for other periods
OF usefulness Renounoing an I'M DEM
ocratic the work of the party organiza-
ton at Chicago, let US be true to every
Democratic instinct Mt Indianapolis. Let
no man say that in this convention any
false note of Democracy was souded. We
stand for all that should inspire good oit-
izenship-for honest money, enforcement
OF law.and order, respect for authority,
the preservation Of the national ore1it
the just payment Of debts, the dignity
and welfare of labor, the prosperity and
fair name of America. United In such a
cause we can 60 forward with the Amer
loan flag as our banner and the words |
IN atiOnal Democrats insoribed on ita
folds. We know no sectional issue or in
terest. We stand behind the broad shield |
of patriotism and in that sign We shall |
conquer.
At the close of Chairman Flowers |
address states were called for the selec- |
ton of members of the committe on
credentials, rules and also vice president. |
The convention at 40 took recess