The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19
HAVE YOU COUNTED THE COST !?
LOOK BEFORE YOU LEAP.
Private Gain? or National
Integrity-WHICH?

| Let us compare commodities with
silver.
Speaking of commodities generally
their price is about eight per cent. low
er than in 1860.
How is IL with silver.
Silver is 80 per cent. lower than il
was in 1860.
viii the gentleman insist that, meas
ured by commodities, silver could pos
sibly have the same purchasing power
as that of 1860 or 1873? How, then,
! can you justify free and unlimited coin
age of silver at sixteen 10 one.
IL is not, and cannot, be fair and
square. Why should commodities be
cheapened?
Notwithstanding the fact that in the
period of which we speak 81 ,Oo2, 900, 900
of redemption money has been coined
by the United States mint, why should
prices fall?
Because the amount OF production Is
more, while the cost of production Is
less. That is the reason why prices of
commodities have declined, and any
man who uses his thought factory 10
manufacture honest goods knows IL
and must admit il.
If you still insist that somehow or
another the fall of prices since 1879
comes from the demonstration of sill
YER, how is IL that more silver circu-
lates as money throughout the world
to-day than in 1873?
The United States alone has added
nearly S600,000,00O OF silver money to
the circulation. What n malignant foe
of the white metal the United States has
beenl
Why do the free coinage advocates
continue 10 insist that prices are
cheaper because so much silver has
been driven from our circulation, when
the fact remains that hundreds of mil
lions more Of silver as well AS gold have
been added 10 il. We shall give you
facts and figures along this line a little
later.
How is IL with wages?
They have advanced during the same
period.
Well, IL prices Of commodities have
declined and wages have advanced.
why in the name of "gray matter"
should the worlIingman complain OF
the evils OF our currency system?
How would the depreciation of our
currency benefit him. Aside from af-
fording him the opportunity Of paying
Oft two dollars worth OF debt with a
dishonest dollar provided. always. he
could get the dollar), how would IL
benefit him?
III he can get more money for his
work and more provisions for his
money, why should he stay up nights in
behalf OF sixteen TO one?
Suppose the price of commodities is
raised; unless the price of labor is
raised correspondingly, OF what advan-
| tage is IL TO the laborer?
Still further. If free coinage adj
vnnces prices, il would reduce wages.
IL would, beyond peradventure, dimin-
ish the purchasing power OF n dollar.
IL IL doubles prices, il will divide wages
| by two. But some one suggests that
wages will keep pace with the prices
All. will they?
History tells me that wages are the
| first TO fall and the last 20 rise. III the
wnge-earner has 10 pay twofold for
everything under free coinage, what
shall IL profit him TO bring II to pass?
III there Is any individual in the wide
world more than another whose vital
interests are with sound and stable cur
rency IL Is the wage-earner. lie is the
first TO suffer and the last to recover
from a debased dollar. His power OF
resistance when the financial hurricane
Is on is at the minimum.
III we can believe in the report OF the
senate finance committee. wages in 1891
were 30 per cent. higher on the average
than in 1850. while the earnings OF labor
in 1890. according TO the census of that
year, had increased over 40 per cent. in
ten years.
Now notice; II the price OF staples
has declined so much, while the price of
labor has increased, what striking adj
vantage will free coinage he TO the
wage-earner? No greater calamity
could be visited on him than 10 double
the price OF commodities, which he must
obtain, 10y debasing the value Of the dol
| lar that he gets for his toll
Another thing; Sl,s00,OO0.000 are on
deposit in the savings banks OF the
United States 90 the credit of the work.
ing classes. With deprecated dollar,
what will prevent these institutions
from settling with their depositors at
80 cents on the dollar. and so cents
for dollar? Don't you see. my friend.
the danger Of upsetting standards? The
value OF every insurance policy and Of
every pension would be cut In half.
Building and loan association stock
would be knitted In a similar manner.