The record-union., 1896-09-04

this country. while our present dollar
and the dollar in every other country
whose monetary system is the same as
our present system, is worth 100 cents
here and everywhere. But if we have
free coinage. the silver dollar Of Mexico,
China, Central and South America and
all other free coinage countries will be-
come equal in value to our dollar Now
their dollars are worth only half as
much as ours, but with free coinage our
dollar will descend to the same level
with theirs and the purchasing power of
their dollar and every ounce of silver
they can produce (Which is three times
as much as we produce) will buy just
twice as much of our produce and our
goods as it does to-day. unless we dou-
BILE the price of our goods in silver, or in
other words keep all free coinage silver
where it is to-day namely, worth fifty
cents on the dollar, for we could not be
| benefited by raising the purchasing
| poware of all the free silver countries,
| thereby doubling their wealth at the ex-
| pense of our citizens and at a loss of
one-half of all the property in the
| United States, be real or personal
| But will not the free coinage dollar be
| Yes. And here is where it is most
detrimental to the poorer classes and
the laboring men. The free coinage
dollar will be legal tender in payment
OF all debts. unless these debts are ex-
pressly payable in gold lin which case
they would have to be paid in gold).
! Any debts due to the poorer classes and
all wages are payable in coin, hence
! hic f,oA JOlI n1
uron the poor man and the laborer, and
in order to pay their debts in gold they
would have to buy the gold with their
free silver dollar and pay 50 in silver
for each dollar in gold, the same as is
| done to-day in all free coinage coun-
tries. The laboring man, then, who
receives SO a week for his work would
be paid in silver coin which would only
| buy one-half the amount of groceries
and provisions it does now His only
salvation would be for his employer to
double his wages Would he do it?
They don't do it in other free coinage
countries. For, in Mexico, the labor
ing men are paid as follows: Skilled
| workmen, 10 cents per day in Mexican
! silver; farm laborers, Is cents a day in
silver.
| <AFOu any pOllcy WHICH ueCTedSeS
wages. Let US retain a policy which
makes our money as good as the best,
and twice as good as that of any free
| coinage country.
| How much money is there in the
| United States?
On July 1, 1896. in circulation, ST.
500, 725. 200; in the United States Treas
ury, 1854, ,519,9S1
in circulation?
| The fact that men who have money,
be it 81 900 or 100000, will not invest
it in property or business.
Why not?
Because by unwise legislation we
have made it impossible for the manu-
featuring establishments Of this coun-
try to compete with foreign countries.
Why can they not compete with for
eign manufacturers?
Because in this country everything
costs more, especially the price Of labor
and it must be remembered that after
the first cost Of opening a manufactur-
ing establishment the wages of the en-
ployes is one of the largest items of
expense; hence, a slight difference in
| wages makes nearly an equal differ
ence in the cost of manufacturing.
| What are some of the reasons why
we should protect our manufacturers? :?
First-In order to make it profita Bile
so that a large amount Of capital will
| be invested in business here, and in
| that way give employment to thou
sands of American laborers.
Second-In order to enable these
manufacturers to pay good wages and
still compete with foreign goods: and
Third-To prevent the merchants of
this country from buying their goods
from foreigners, because every dollar
| that is paid to a foreign merchant goes
| To make prosperity for foreign coun-
tries, and if those dollars are retained
in our own country and paid to our
own manufacturers, they will be paid
out to our own laborer and by him to
our own business meI4 and in that way
we are all benefited.
But will it not cost us q great deal
more to live under protection?
| No. The greatest cost of living is for
| food and lodging, and the very few
| dollars more that we would have to
pay for our clothing would not be felt.
| and the loss in this way would be
very small item compared with the
great benefits arising from:
| Ffrst-The erection Of many new
| manufacturing establishments (Which
alone would employ many carpenters
and benefit many lines of business).
Second-The permanent employment
OF many thousand American workmen
who are now idle; and
Third-The keeping of our money in
our own country for cur own people,
A. z. MILLER