The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-16
LABOR WOULD SUFFER.
An Argument That should Appeal to
All Wage-Earners.


It was at this point that Secretary Car
Isle brought some of the strongest points
in his argument, and his words were listened
to attentively. He said: Ao
AFTER struggling for more than quarter
of a century, through labor organizations
and otherwise TO secure rate OF wages
w work equal to the cost OF days SUBSISTENCE
for the workingman and his family. you are
asked By the advocates OF free eoinase TO
purchasing power Of the money In which
you are paid and impose upon yourselves the
task of doubling the nominal amount or your
wages hereafter; that Is, to struggle for an
other quarter of a century, or perhaps longer.
to raise your wages in deprecated cur
rency to point which VIII enable you 10
purchase with them as much Of the neces-
saries of life as you can purchase now; and
If, after years of contention, privation and
Industrial disorder. you should at last succeed
in so adjusting wages that they will procure
at the higher prices OF commodities
just what they will procure now at the ex-
ist.ng prices. what would you have gained
by the change from the old to the new con-
ditions? -
Money received for wages. like money re-
ony to o the extent tna It can be
for other commodities, and 1t Is scarcely nee
essary to suggest that a dollar worth so cents
as a dollar worth 100 cents. To call dime
a dollar would add nothing whatever to its
intrinsic value, or to Its purchasing power.
III these PROPOSITIONS are coIIeSt, II - Gear
currency, the rates of wages must be
Increased in proportion to the he de de-
portion to the increase in the prices of other
things or the laborer Will suffer loss. But
/ affirm that ii is the universal rule that the
70 the depreciation in the value of the
money In which they are paid. and that
when the currency is deprecated the rates
of wages do not increase in proportion to the
;ncrease I'm the prices of the cOmmo-
dities the laborer Is compelled to pur-
chase. If there has been a single exception
my Investigations have not enabled me to
find 1t. and DO not believe one can be found.
ut is not my purpose to weary you by the
tedious recital of facts, but the particular
proposition now under consideration is OF
such great Importance in the discussion OF
this subject that you must permit me tC
call your especial attention TO the expert
ence of the iaboring people in our own coun-
try during the years mmeaaeedy foowns
rency in 1862 and also to the very low rates
of wages which now prevail in countries
having the silver standard of value: or the
so-cailed double standard of value with coin
age OF silver at legal ratio not correspond.
ing with the commercial value of the metal
and In doing this s1, VIII make no y
PRICES AND WAGES.
ION the Sd of March. 1898. a subcommittee
| of the committee on finance in the United
| States Senate made report on the course
| of prices and wages in this country for &
period Of f1fty-two years. embracing The
prices of almost every article of consump
ton in common use among the people ane
| the rates Of wages in almost every indus
| try carried during that time, and. IL
order that you may learn from this officia
| and impartial Investigation what effect de
| preciated currency has on wages and prices
| terial facts and conclusions embodied II
/ that document The subcommi ttee consisted
| Of I'VE Senators, representing both politica
| parties and both SIDES ct the currensy ques
ton, and the Investigation. which tastes