The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-04-16

OF the Bu0-comm1xtoE o. the eSffsuss<t'S ~
finance OF the senate. submitted March ,.
I'D On me course Of prices Of labor and
the various articles 81 general consump-
sion during = period Of fffy-fuo yesFs. ir-
ciu3fnx the time when specie payments
were abandoned after the beginning OF
the civil war. la lsz the wages q labor.
PAID In deprecated paper, we're - tnzn
per cent higher in paper snan wnen
paid In gold. but tbs prices Of the "a ar
ffrIes used by the labofsrs and other peo-
pie Ia the mAintepance Of their families
were rearI,- n pr cent- higher than they
were when paid In gold
In IsE. ne said. the price II labor had
Increased f06 per cent. and other pf1ces
q per cent; In - the advances were 81
ara sosl respectively; in is5 they were .
and III per cent He further called at
tention to the fact that during those years
the xovernment by its ~ my and navy had
withdrawn hundreds OF thousands OF men
from competition in tine labor Of the coou-
try.
Low Wagss IN Silver Countries.
The secretary quoted from . forthcoming
report Of the United States minister 70
Santiago on the history OF the money OF
Chile for the past twenty years. and It's re-
lations to the wages Of the laboring peo-
ple, which shows that the average WAGES
received BY the laborers of Northern Ct6e,
where wages are highest. Will buy about
half what IL would twenty years ago.
Referring TO the fact that Japan - Q
silver using country, he said: The Japa-
nose silver yen In worth q little less than
60 cents In our money. and when the wages
Of labor, paid in this deprecated coin. are
reduced to our standard Of value. they
appear 20 insignificant that II In dinicult
60 understand how the people who receive
the miserable pittance can live and main
tain their families The average daily
earnings Of q brickiAyer amount to - cents:
biacksmifhs. carpenters and cabinet max
ers receive % cents; composifors In print
Ing Offices. - cents; pressmen. s cents:
roofers. . cents; stone cutters, - cents:
ordinary tafIors. y cents. weavers. Il
cents. and In all the long list OF occupations
and wages no iaborer. however skilifui,
can be found who receives more than 70
cents per day. except porcelain artists Ia
the great city OF Yokohama, who get -
cents. Factory iaborers even In that city.
where most Of the great industries are car
ried on by American or European capital
lists. receive 81 cents per day. and In other
parts Of the country they receive less
"Our neighboring republic OF Mexico, with
. constitutional government very similar
to our own, with an area Of $4,000 square
miles and a population OF only about H.
0p.000. with almost marvellous natural re-
sources awaiting development and Offering
. most Inviting field for the investment OF
capital and the employment OF labor, has
tins silver standard of value. gold not be-
Ing In use, and IL cheap money Is a bless
Ing TO the laboring man he ought 10 be
prosperous and happy In that country. The
Mexican dollar contains 377.7 grains Of sill
yer. or nearly grains more pure silver
than II contained In our dollar, and yet,
not being sustained by q monetary system
which keeps Il At . parity with gold, IL IL
worth only about Is cents In our money.
Wages are paid In silver and very low In
comparison with the wages paid In this
country for the same services, In many In
stances not being half as much. while the
prices OF commodities generally are much
higher than they are here. The prices of
imported articles especially are exorbitant-
ly high In Mexico. because they have TO
be paid for abroad In gold. and the de-
probation Of their money Is so great that
II requires nearly two dollars In silver to
pay for one in gold.
do We Want japanese wageaS
You have doubtless observed recently
what appears to be quite formidable
demonstration in favor of free silver coin
are by large manufacturing interest in
the Eastern part OF the country. on the
ground that IL we continue TO maintain
our present standard of value the silver
standard countries. especially India. China,
and Japan. will soon be able 10 undersell
titn IN INC uihIket3 OF the WOFlI. He-
ducod to Its simplest form, the proposition
Of these gentlemen Il that the manufac-
turers Of certain kinds OF goods IN this
country cannot continue to pay their la
borers high wages In gold or its eQuiya-
lent ana compete successfully In the mar
kets abroad with tho manufacturers of
similar goods In silver standard countries
who pay thor laborers low wages In de-
preciated silver. and therefore they insist
that . monetary system shall be adopted
here which win give them the advantage
Of paying for their labor In deprecated
silver. Tho theory In that with free coin
age Of legal tender silver the wages of
labor in this country would be paid in sill
yer dollars worth about half as much as
gold dollars. but the products OF labor,
which would belong to the employer would
be sold for gold In the markets abroad,
and that tho gold thus obtained could be
exchanged for silver at about tbs rate of
one dollar in gold for two dollars In silver:
ard thus the process would 20 on. the
employer getting gold OF full value and
the taborer getting deprecated silver
which. In tho opinion of these gentlemen,
would be most happy solution OF this
question IL the interests of labor are
90 be left entirely out OF consideration and
II II were not reasonably certain that a
sudden revolution In our monetary system
would Mt once arrest the progress OF all
versal bankruptcy. this scheme TO make
the employer very rich and the laborer
very poor might be worthy of serious con-
slderation. hut the American lahorer has A
right 10 demand pay for his work in as
good money as the employer receives for
his products In any part OF the world. and
when he surrenders this right he Is doom
Ell 20 the Same fate thar has already over
taken his brothers In the silver standard
countries, II Is but simple justice to say
IN this connection. that the great body OF
employers. a vast majority 81 the men
who have embarked their capital In indus
trial enterprises and are relying for sue
cess upon their skill and energy In the
prosecution OF their business, do not want
the present standard OF value overthrow
because they know that the establishment;
OF silver mono-me,alliym would be ruin
GUS TO Them
The Peoples Savings Would shrink.
The speaker then went on 20 show tha,
si.Ne ss- 90 now held in savings hacks ir
the United States most OF Il deposited by
lahoring people. as wei as the hundreds
or millions deposited in other banks. build.
Ing associations and other institutions
and the billions represented nv life tnsu.
rance policies. would shrink 10 half hy N,
adoption of free coinage OF silver. This
he argued. would not only put n hardship
upon the frugal and careful. but would
have tendency 10 discourage the splri,
OF saving that IL now becoming so nreya.
lent. But" said he. III free ana unlir,.
tied coinage OF legal tender silver at the
ratio OF IL 70 I is established in this conn.
try. very large part OF the noaey a.
posted In these various kinds Of saving,
Institutions will not even be repaia Ia Dc.
pr-cia,ed silver. sa; viii be wholly lost
because such a reckless monetary svsterr
would presri nitate q financial pantr which