Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-10-10

SILVER AND WAGES.



t,obbed of All FiapdoodIe. How Would
Free Coinage Affect Labor?
Will the reconciliation of silver help
or hurt labor? That depends on whether
it will promote or hinder production.
II the reconciliation Of silver will pro-
mote production, il will benefit labor
On the contrary, if it will impede or
lessen production, it will injure labor,
for in the final analysis the wages of
labor are the share which labor gets of
what is produced.
If 30. 600, 600 people produce but $I4.
600. 600, 600 worth Of products in year.
that would give to each, If evenly di-
"ided, 5000 worth and no more. as. if
some got more others would get less IT,
however, the same population produced
$4,000, 900, 600 worth of products. each
would have 5000 worth. That is, any
people can divide what they produce,
and they can divide no more unless one
takes from another what he had before
Ii is clear, then, that the more we
produce the more all can have. and as
wages i'll the end are the lahorcr's share
of what is produced his real wages will
increase as production increases. The
vital question then is, Will the remone-
tization of silver, by promoting indus
trial enterprise, increase production
There are hardly two sides to this qucs-
tion. That the RECOMMENDATION Of silver
will increase money supply no one will
deny. That the increase of money sup
ply will stop the fall of prices, and if
the supply be sufficient will raise prices,
no economist will dispute. With stable
prices, well directed industrial enter
prise is safe; with rising prices. all in
dustries are stimulated. Hume. the his
torian, said years ago: 1--WE find that
i'll every kingdom into which money be-
gins to flow i'll greater abundance than
formerly everything takes IA new face
Labor and industry gain life. the mer-
chant becomes more entcrprising, the
manufacturer more diligent and skill
full. and even the farmer follows his
plow with greater alacrity and atten-
ton. This has often been quoted us
not only one of the accepted facts of his
tory, but one of the truths of economic
science.
Seventy millions Of people, with the
best educated brains of any toplc i'll the
world and with hands skilled TO the use
of the most intricate machinery, making
Il greater use of the powers of steam and
electricity than any other people, ought
TO produce at least $500 per capita per
annum. But it is doubtful if we have
produced 5000 per capita the last year
or in any recent year. Prices have been
falling, money rising, enterprise has
been put in constant peril and produc-
tion greatly retarded. With money sup
ply sufficient TO sustain prices and sup
port productive enterprise the produc-
tion of wealth would undoubtedly be
largely increased. There would then he
more for all and more for each.
Under such conditions would the la
borer get u prorortionally larger share:
Why not? He certainly would be- cnti-
tied toit. How would he get it: In two
ways. First, by increased earnings.
Earnings are wages multiplied by time.
If n man gets 50 day, but works only
one day i'll week, he earns but So "A
week. II another man gets 81 day and
works three days i'll week. he also
earns but SO. which would be earned
also by one getting but 30 cents II day
if he worked six days i'll the week. Ii
the first two had steady work. without
any increase Ill wages. their earnings
would be largely increased.
The first effect of revival Of indus
tries woSi be fuller employment of Ia
Dor and cons, q1ently larger earnings.
Second, wages would also increase
with increased production.
John Bright summarized i'll few
words the labor question when he said
it made all the difference in the world
whether two men were after one job or
two jobs after one man. A. long aS large
numbers Of idle men are hunting places
there is little hope Of better wages for
any one. One is fortunate indeed if he
can keep the place Lc has, Moreover, if
prices of the products of labor continue
to go down, the wages of labor must go
down also. Profits may 90 first, but
wages must yield sooner or later. Com
binations may resist inroads upon wages
for time, but cannot do so long Lar
ger and larger numbers will tie forced
into idlcness, and idle men are not only
dangerous competitors, but while idle
they cannot buy what others produce.
In order to be able to buy one must
have something to sell-labor or its
products. If man earns but 80 cents a
day. he cannot buy what another pro-
duces at 81 "a day. He can only buy n
fourth part of it. Ii is doubtful if, at
present prices of farm products. the en-
tire agricultural classes-7. 900, 900 fam
ilies-earn, on the average. more than
so cents day for each laborcr. They
can, then, only buy at that rate. That is
the chief reason just now why other in
dustries are so Frustrated Farmers get
so little for what they produce they
cannot buy what others produce. Hence,
for part to get good wages all must be
employed. A. J. Warner.