The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-07-10


form is adopted at Chicago. If we have
free silver-or, in other words, if there was
a National declaration to that effect which
/ cannot believe is among the poss bilities
of our political future-it will mean total
ruination.
''But the great evil and menace 30 far as
this great issue is concerned is in the
Ignorance of the laboring classes. Whether
it is ignorance or simply failure to I'M
derstand it amounts to the same thing,
and if free-silver candidate Is elected to
the Presidency it will be by the vote of
the wage-earners. And they will be the
first to suffer. They don't seem able to
grasp that idea. though, and it will not be
brought home to them until they have to
pay third more for the necessary COM
modities of life than they do now and
have to work for less money. They may
still get their 81 or So day the same as
now, but it will be in silver and less in
purchasing power on a ratio with the
difference between the value of silver and
gold. If the laboring man has $40 In
silver, We will say, it would buy only as
much as 81 so or So in gold. coat he
can buy for 81 now he would have to pay
So so for with his tree silver.
ut is the free silver that sways the
mind of the masses. They think it means
more money, cheaper living and higher.
wages. Yes, ! shall vote the Republican
ticket if my party-or as much of it as is
represented at Chicago-declares for free
silver, and all the Democratic, merchants
that have talked with will do the same"
L. Klau of the house of Hass Bros. has
had experience in Guatemala and Salvador,
where commercial transactions are con-
Quoted on silver basis, and that expert
ence has taught him that the free coinage
OF silver would bring calamity to the
United States. He has been consistent
Democrat, standing by his party in defeat
and victory, but he now feels it to be his
duty to vote for Mckinley. He said yes
terday:
"a merchant doing business on silver
basis never knows where he stands. An
article which he purchases in the morn
ing for $40 so may be down to $40 in the
afternoon. Everything is governed by
the price of silver in London. The value
of gold never changes, so on gold basis
business may be transacted with security.
Ny experience in Salvador, 8 silver
country, fully made known to me the
tainties OF conducting commercial BUSH
ness on a silver basis. Free coinage of
silver would, in my judgment, introduce
In the United States the same business
methods that prevail in Salvador and
Guatemala. Why, it was impossible to
tell in buying on payments to be made in
sixty days what amount would have to be
paid when the obligation fell due. It
might take $500 in silver to pay for goods
that were worth $500 when ordered. We
actually got to that pass that we imported
boxes of silver-S3000 IN a box-from Lon
don and Paris. We bought it where we
could buy it on the best terms. When the
Government found that we were bringing
1t in an import tax was placed on it.
When we had too much silver and sought
to export it an export tax was imposed by
the Government.
To-day in the South and Central Ameri-
can countries it takes 200 cents in silver to
buy 100 cents in gold. The same state of
affairs will be brought to the United States
if free coinage comes. 1t will bring to
every commercial enterprise peril and
confusion. merchant will never know
how he stands. Trade will be subjected
to all the fluctuations of silver in the Lon
don market, for whatever may be said its
price is there regulated. There will be
constant danger of an increase in liabili-
ties and decrease of assets.
No, the Democratic merchants of San
Francisco will not follow the leaders of
the party in the Chicago convention on
this silver proposition. In 3 word, they
will vote for gold. Free coinage of silver
can bring no prosperity. 1t can only
bring calamity and disaster. The talk
about wages being increased is folly. In
silver countries the wages for labor are
down to 20 cents day. Wages here
might remain as now established on the
gold standard at 81 and 81 80 per day, but
the 81 so would not buy as much as one
can now purchase for 81 %.
among merchants" continued Mr..
Klau. II hear only one opinion expressed,
and that is the opinion that free coinage
of silver would bring about such disaster
as we have never encountered. OF course,
L cannot account for the craze in Chicago
Men seem to have lost their reasoning
faculties.
II am not prepared to say what eff
feet the Introduction of silver would
have on the savings banks. 1t is natural
to suppose that depositors who deposited
gold would want gold in return. l am
sure that gold would be Withdrawn from
the United States the same as it has been
taken from Salvador and Guatemala. The
greatest hardships, am sure, would fall
on the working classes, whose wages
would not be raised, but the price of liv-
ing would be advanced. Every imported
article, such as tea, sugar and coffee,
would have to be paid for in gold. If any
advantage should follow it would go to
the bankers, brokers and spectators.
"The leaders in the Chicago convention
are not representing the Democrats of the
country. AS far as l can ascertain the
merchants of California prefer the gold
standard. Some Democratic merchants
who are very firmly and closely welded to
politics may remain passive and decline to
vote at the next election, but when the
issue is fairly presented with gold on one
side and silver on the other I think that
nearly all will be found in favor of main
tanning the doctrine of sound money as
against the silver initiation. The CONNER