Delaware gazette and state journal., 1896-08-06
FREE COINAGE GATECHlSM.
Now York Evonlnk Post.

Nus nblpeu tno rlCIy anu mas cauocu
distress aud loss to everybody else.
@. Is this statement trueY A. Ii is
not.
q. Suppose the gold standard had
worked injury to everyone except the
rich; how should we know the factY
A. People with small incomes would
have been growing steadily poorer
since the gold standard was adopted.
Q. Have such people been growing
poorer? A. On the contrary, their pros
perity, since this country returned to.
the gold standard in 1878, has increased
In an unprecedented degree.
@. What proof have you of this? A.
The increase in savingsbank deposits
q. BY whom are such deposits NADER
A. They consist almost entirely of tho
surplus income of tradeamen, wage
earners and small producers.
Q. What are the fiugres of these de-
posits? A. In 1879 the total savings
bank deposits in the United States
were S802, 400, 29S; in 1895 they were
81, Sl4. 357, T9S; Increase, 81, 04l, S67, 90,
Or 100 per cent.
q. What is your authority for these
tiguresY A. The official statements OF
tho savings bunks to the United States
government, published in the reports OF
the comptroller of the currency.
q. What do the figures show? A.
They show that during the IL years
since this country's return to the single
gold standard the savings of its poorer
people have been thousand million
dollars larger than they we're in any
preceding period.
@. Are the savings banks deposits
our only proof that tho people nave
prospered under the gold standard? A,
The building and loan associations
are another striking proof.
Q. Who are tho depositors with
building and loan associations? A.
Chiefly wage earners, tradesmen and
people with small salaries.
q. What do the reports OF these
associations showY A. Twelve years
ago tho deposits with such rs ociations
wore comparatively insignificant. In
1892 thu roturns of tho United States
Department uf Labor showed the aggre-
gate to be 500, 900, GOO. To-day tho
| total Of these deposits in this country
is estimated ut $3.50, 600, 600.
q. How do all these figures compare
with savings bank deposits and with
| building and loan association accounts
| A. Such countries have neitbor savings
banks nor building and loan associa
| tionH.
G. Why? A. Presumably because
| the wago-earners in those countries
have no savings to deposit.
q. How do you explain so enormous
an increase in the savings of our peo.
pie? A. Wages have increased since
| tba raf,,rn m fbn mold et.pl.,rI Ernot
improvements and extension Of produc-
the cost of living. This has necessarily
increased the peoples savings.
Q. What ia your authority for stat.
ing that wages have increased since
our adoption of the gold standard
A. The highest known authority; the
United States Senate report Of 1892.
already referred to in this catechism.
Q. How much does this report show
average wages to have increased since
the resumption of specie paymentsi
A. Up to the latest date covered by tht
report they had increased 2034 pei
cent. In many industries the increas,
had been much larger.
Q. Then the average wage Garner,
income has increased under the golt
standard. while living expenses hav,
decreased for everybody A. Such ar,
the facts.
@. Would this advantage continu,
under free silver coinage? A. |
could not. We have already shnwi
that wages would not increase spon
tapeously, il at all, while prices fo
necesaaries Of life would riso rapidly.
Q. Do the FREQ coinage leaders admi
this certain rise in pricesY A.. The,
do; they declare that all prices are nov
too low. and that free coinage will rails
them.
Z. But do not these people CLAIM
that high prices for food, clothing AM
household necessaries will cause gon
eral contentment and prosperity? A
They do.
@. How can We be sure that they ar
not right9 a. Read up the record O
years when currency imitation ha,
, caused high prices in this country
Look into the condition of other coun
tries where prices now are high unde
a silver standard.
| @. When were prices and living OK
, penses highest in this country? A. |
1868 and 1866.
Q. What did the American peopl
, of that timo think of the high prices
A. They complained bitterly.
O. Where can we find any recor
Of such complaint? A. Go to publ
library and read the newspapers {
those years.
.. Give some illustrations. A. |
1865 tho New York papers seriously aC
, vised people to stop eating meat, !
3 order to check the high prices. Lee
ters from readers published in thes
papers complained that milk, butter
coal and ice were almost beyond th
Z poor man's reach One letter, in th
New York Times OF June Goth, 1856;
4 deseive to be quoted: "All last viii
0 ter" the writer SAYS, Il could hard
o afford to buy any meat. The little bi
of beef and mutton that we poor peop
buy cost SO much that my wife says
is like eating money" You ca
; readily consult all these published 10
!, ters.
Q. Would people object to hig
J prices now as much az they did ther
A. Every head of a family and even
houRekeeper is competent to answ,
this question.
@. If prices advanced under fr,
= coinage, would not the employer
labor be able to pay very mucn hight
! wagesY A. His own living expens
:, would increase as fast as his incom
y his business would be thrown in
confusion and all his profits would b
come Il matter of speculation.
q. Was this his experience whit
j. prices rose before 1863? a. 1t was OF
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