The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-08-09

whose capital would then seem to be
all that stood between the worldngmen
and starvation. If the fences were
sufficiently numerous, high and well
defended by statutes the power OF
capital would be more readily seen by
the laborers seeking employment,
/ Then they would be prepared to thank
the kind capitalist, whose money Oh
fered them chance to get bananas.
There is little danger that the Am
erican workingman will ever be reduc-
ed to a condition like that of his Mex
lean brother. For the present, at least,
he viii enjoy the luxury OF labor I'M
ions and harsh employers. As people
we have become proficient both in the
building of fences and in the enact
ment of laws to make them effective
against the anarchistic and commun-
istic element. But because of this the
American Workman should be the
more careful as to the possible effect
of his political action upon his friends
in the Younger republics. They are
now urged by gentlemen who have
learned all about the laws of finance
in bank parlor and as statesmen in Of
fees where. such knowledge is aSsum-
ed, to vote against the u.s. of silver as
money in this country, les they be re-
duced to the level of the poor work
ingmen in Mexico, who h. no trade
union council in which to pass their
evenings But the Americ working
man is capable of compreb ding sim
pie propositions, even though he has
never trod the soft carpets of bank
parlor nor even seen the inside of an
Office wherein an appointed statesman
rises to temporary greatness. lie
knows in a general way that scarcity
of money is not to be renee died by a
destruction of one-half the volume. He
knows, too, that value resides in use,
and that. therefore, those who pretend
a desire to maintain a parity of value
between two metals. while destroying
one-half The uses of one of them, are
not 10 be accepted as teachers of sane
people. He knows, too, that wealth is
the product of labor applied to natural
opportunities, and that therefore,
upon labor must eventually fall all the
burdens of government and all the
evils of improper legislation and adj
ministI4a ton.
If it has happened that an interest
bearing debt has been increased, no
matter whether properly or improp-
erly labor must bear it's burden Not
ing the efforts of a Senate committee
to investigate the sale of government
bonds the American laboring man has
received new proof of what he has been
taught by agitators for financial re-
form. that a very few owners of CON
centrated wealth are able to control
the entire gold supply of the country.
This has been and is still denied by de-
tenders of the status quo. But news
papers are cheap in this country, and
single statement made by J. Pierpont
Morgan before the Vest committee re-
veals more truth than the banker is
accustomed to indulge in without pay.
Mr.. Morgan was asked why the Treas
ury had believed it proper to make
an arrangement with his firm for the
sale of the bonds. Mr.. Morgan replied;
Because we were the only ones who
could get the gold" An intelligent
worKingman finds important sugges-
ton in this revela ton. He should be
careful lest he mislead his brothers in
the silver-using countries where en-
ployers have to be polite to the EN-
ployed He is asked to vote for the es-
Establishment of system under which
gold alone shall be the 'basis" for the
money of 100000 enterprising peo-
ple. Looking at the confession of Mr..
Morgan he will be excusable if his vote
shows his acceptance of the PROPOSE
ton. that, If a single bankers hand
can cover the basis of the money of
75.000000 people. that people should
either increase the basis or decrease
the capacity Of the bankers hand