New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-10-28
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the schedule Of wage reduction. The,
meet and talk il over 1t their Clubs
There is not a we'll posted man in Chica
go, New York, Phil elphla, Pittsbur.
or any other nufactnring center VII,
does moi know that there will be gen
eral reduction in wages put into eifec
the day afser Nc inley is elected.
This is not mere assertion It i. no
q threat made for political effect. T. j
q solemn awful fact. It is 80 self-evi
dent that it requires no written or verba
proof. BY every act, BY every move, ).
the columns of.the great daily znewspa
per they have proclaimed the coming re
duct1on in wages intterms SO plain tina
every man withcommoni intelligence Cal
read between the lines. b.
The United States has been on an alb
solute gold basis since the repeal of tht
Sherman act, which repeal was in 1898
Since that date there has been stead,
and relentless reduction in prices and
consequently in profits. Wages have
been reduced somewhat, but in no pro.
portion as compared with the decline in
selling price Of all forms Of property
with the single exception of gold. Real
estate has declined, rents have fallen,
manufactured goods have decreased in
selling price; thousands Of articles OF
manufactured and common Use have
dropped slowly but surely in the price
scale: Look at your stock reports. Com
pare the listed value Of railroad stocks
with the quotations Ola year ego. Pick
up your paper and compare the quota
tons on the great industrial stocks with
the figures of a year or two ago. They
tell the same story; the story of steady
decline in values with atdecrcased earn
ing of capital. < 50 H..
Capital and not labor has been the suf-
ferer from this condition Of affairs, By
labor is meant the employed labor. By
capital is meant money employed in tbu-
siness or manufactures. y. 49,.
Capital hesitates long before making a
wage reduction. Capital respects the
great labor organizations which stand
like rock in defense Of prevailing wa
ges. Capital knows the cost Ola great
strike, and carefully considers the conse-
luerces before precipitating awage war.
AS a result, organized labor is the last to
suffer from steadily falling prices, nd
The wagessof UNI organized laborare fixed
by the prevailing prosperity OF the trade
unions. ~: IT. ...l< Y.
y. Can anyone deny these statements and
prove their falsity? Are they not self.
evident2 There is no theory about it.
rhese are the things that have happened.
10 re- capitulate Capital employed in
business and manufacture has suffered
and suffered enormously business men
md manufacturers have held out, hoping
against hope for rising market; some
IF them have failed; these yet in busl-
aess can maintain the prevailing wage
'c;.le no longer, and are compelled by.
The memorable law of supply and de-
mand to reduce wages to a poiEt where
profits are possible. During these three
years, since the English gold power final
proplcscmployed labor has fairly held its:
own, by.vlrtue Of the power Of organlz&-:
ton. But tile day draws near when the.
weight Of the gold standard will
break downSthe labor organizations and
with it the present wage scale will shrink.
many points nearer its inevitable level
the wage scale Of Eng land, Germany, tia
u, Portugal and other gold standard
countries. -. .s... Rs: &,
In the enforcement Of this merclless
law who are the gamers? The answers
an easy one. Those who own, the gold.
Those who deal only il money. Those
international pawnbrokers, who own and
control the gold who manipulate mar
kets with the skill Of magician who
permitsa temporary rise in prices only as
q means Of realizing profits, and whose
steady policy is to depreciate the value
of every thing butgold. s.
DoSyous doubt that with a continuance
Of the gold standard wages are tosbe re,
duced Do you imagine that in the gen.
eral and continued decrease in values wa.
ges alone are to remain stationary? If
you do, you are lacking in ordinary com
mon sense. to say nothing ofpohtical sa.
gacity.
Pick up your Republican or gold
standard Demo cratic papers and read
what they are telling Oh. opens1 the en-:
y