The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-16
Effects OF "A Deprecated Currency on
Wages OF Toilers and Prices of
What They Consume.
DANGER OF FREE COINAGE
SILVER MONOMETALLIsM, HE SAYS,
WOULD CAUSE DISASTERS.
Labor Would Suffer Most. and the
preciate mt Least One-Half.

CHICAGO, April 15.-Hon. John G. Car
Isle spoke on the currency question at the
Auditorium tonight before an audience that
filed the great hall to the uttermost. The
address was delivered under the auspices of
the laborng men of Chicago and they were
there in full force, nearly three-quarters of
the assemblage being workingmen. Many To-
cal Democrats were anxious to obtain in
terviews with Mr.. Carlisle on the political
situation in Kentucky. but he firmly de-
clined to talk on politics in any way. He
said that he had come to Chicago to make
an address on the currency question and
that nothing could induce him to talk pol
tics His address. which was greeted with
much applause and which gave much salts
faction to his hearers. was as follows:
whether the general business of the peo-
pie shall be transacted with good money or
bad money. whether the wages of labor shall
pc paid in sound and STAPLE currency. With
they are exchanged for the necessaries OF
life or in deprecated and fluctuatipg cur
rency, having no fixed value and therefore
bearing no permanent relation to the cur
rent prices of commodities. are questions
which affect the comfort and happiness OF
e crested in ihe Settlement of tSeee
ii is unfortunately the case that all will not
be equally affected by an erroneous decision
has accumulated properly or hoarded money,
Is always exempt from many OF the most Sc
r rGs s s aas Soih e nd
credit, and while ne may be subjected 10 much
loss and Inconvenience. neither he nor his
PEELED TO go without raiment or shelter.
1T Is the poor man and the man OF moder-
nate enough To oe or
ey. but who depends upon his wages or upon
the products Of his gym labor for the means h
always feels the first and most disastrous
effects of a business or Industrial depression.
no matter whether IL results from a deprecf-
ated and fiuctuating currency or from other
causes. SUCH man has nothing to dispose
support himself or his family but his wages
or the proceeds OF his own labor. and any
policy that even temporarily suspends or OBJ
structs the Industrial progress of the country,
by diminishing the demand for the products
position OF capital to employ labor, must be
injurious to his Interests and infiict more or
less suffering upon all who are dependent
Labor cannot be boarded; the idle day is
gone forever; lost wages are never reim.
good pay In good money are essential TO the
comfort IT. ana I'd happiness Of the American a
be unfaithful to himself and to them il he
does not insist upon the adoption and main
tenance of such policy as will most certain
currency and promote the regular and profit
able conduct Of. all our industrial enterprises.
he cannot prosper when the country is In
Its commerce paralyzed, its credit broken
down. or its social order disturbed; nor can
he prosper when the fluctuations of the cur
rency are such that he cannot certainly know
the value of the dollar in which his wages
are paid, or estimate in advance the cost OF
the necessaries of life.
TWO GREAT QUESTIONS.
long period of financial, commercial and In
dustrial disturbance in this country. and
whether labor shall be deprived of permanent
employment or be partially employed and in
adequately paid. are questions directly and
necessarily involved in the demand now
seriously made by many of our fellow-citi-
zens that the United States. without the CO.
operation of any other government in the
weird, and in opposition to the established
policy OF every other great civilized and
commercial nation, shall authorize the free
silver at the ratio of is to l. notwithstanding
the true market ratio between the two
ha the nnsed az In ssa
by law that Is ounces of silver are equal
in value to ! ounce of gold. when it is an
In all the markets of the world, in silver
standard countries as well as in gold stand
ard countries, 16 ounces of silver are worth
OF gold and will purchase only about one
half much of the necessaries of life
THE naked proposition is that the United
the exclusive benefit of the individuais and
corporations owning the bullion, all the sill
yer that may be presented at the minis into
4as grains Of STANDARD sV Se pV Worth in
trinsically about 81 or 50 cents. deliver the
compel ali the other people in the Country TRY
to receive these coins at valuation of 100
cents each in the payment of debts due them
all kinds, for pensions to soldiers and sailors
and their widows and children, for losses
sustained under policies issued by life and
other insurance companies, for deposits In
savings banks, trust companies. building as
sociations and other institutions, for debts
due to widows and orphans by guardians,
executors and administrators of decedents'
estates and other trustees. for salaries of all
civil, military and naval officials, and the
compensation Of private soldiers and seamen,
and In short, for every kind OF obligation
| recognized by the laws of the land. except
only In cases where the prudent capitalist
has taken the precaution In advance to con-
To say nothing of the gross par
| TALLY and manifest injustice of such
a policy. its immediate effect would
the extent of about s62o. 100000 by stopping
the use Of gold as money and putting a
or about equal, to the difference between
| the intrinsic value of the gold dollar and the
| intrinsic value of the silver collar. Gold
| coins would at once become commodity
| and would be bought and sold by spectators
| in the market just as they were during the
war when We had deprecated paper cur
| rency. The value Of the silver dollar would
| down with the rise and fall of the com
| mercial price of the bullion contained In it.
as the Mexican dollar does now, and the
| premium on the gold dollar would of course
/ fuctuate to the same extent, thus afford
| ing opportunity to bullion brokers and
/ spectators TO buy and sell Ii at a profit
i Ii would cease TO be used as money. because
| no man would pay his debt in gold dollar:
| or in paper redeemable in gold dollars, worth
| 100 cents. when the law permitted him to pay
| Ii In silver dollars. worth only 81 or 50 cent:
| each. 81
WOULD CAUSE DISASTER.
1.-The sudden withdrawal of $500. OO0 COO from
the voumne Of currency in the countr,
| would undoubtedly produce a financia, ans
industrial disturbance far more disastrous 4
| to the interests of labor than has ever bee,
/ experienced in our history. and no mai
who has a particle of sympathy for work
| ingmen and women and their dependen
| families can contemplate the possibility O
| such a calamity without feeling that il 1
| his duty. whether he occupies a public o
| a private station. 70 employ every HONORABLE
the sudden expulsion of SGD 600. 600 in go
| from our stock of money would itself b
| sufficient 10 create a finacial disturbanc
| unparalleled In the history OF this or an
other country, the situation would be YER
greatly aggravated by the fact that tn