The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-29
SOUND-MONEY GERMANS
HELD A PUBLIC. MEETING AT MO-
TART HALL LAST NIGHT.
A Louisville Editor TaIks-Admfrable
Address of Philip Rappaport
to- the Workingmen.

Lieber president of the league, Emil Won
Schleinitz, editor of the Louisville An
zeiger, and Philip Rappaport, editor of the
German Tribune.
In a few Introductory remarks Mr.. Lie
Der declared that the prosperity OF the
country depends upon the prosperity and
harmony among the great masses of the
people. Consequently, he said that German
Americans will not support a programme
that has for its aim and purpose the over
throw of harmony and the establishment
of class prejudice He said that the Ger
man Sound Money League proposes to fur
Their the common good and prosperity of all
classes in this country.
Mr. Won Scheinitz said that it was a
great privilege to him to greet the German
Americans of this lovely city, and he re-
called to his hearers the inspiring scenes
of the national convention held in this city
but four weeks ago-a convention which
he had the privilege of attending. In
facetiouS way the speaker referred to the
fact that German Americans receive much
attention from the eager American press in
election times. He said that history is the
only true measure by which faults and vir-
tues can be weighed. The history of the
future, he said, will testify to the fact that
the German Americans were always found
in the foremost ranks -Wnen the country
called for her sons. Mr.. Won Schlein1tz en-
tertained his audience with an account of
a speech he heard made by William j. Bry-
an at Louisville After the speech he SAID
that he would have had to give up the 10
toll theory ii he had ever belleved in it be-
fore He would regard 1t as very deplor-
able if an unknown young lawyer should
succeed in forcing hlmselI into the fore
most position of this country and should
become the successor of Cleveland, that he
should occupy the same place as the i'm
men whose memory is honored by this
great Republic.
d" We Germans, said Bismarck years ago,
fear nothing in the world but God Yes,
Mr.. Won Scnleinitz exclaimed, we Germans
fear one thing more; we fear the everlast-
ing shame that would be brought upon
this glorious Republic, our country.
Frequently throughout his address Mr..
Won Schleinitz was interrupted by applause
and laughter. He followed by Mr..
Rappaport, who devoted his preliminary
remarks TO showing why Work TX nis l1nr,L
should maintain a high standard OF living.
Continuing, he said:
THE RAISING OF PRICES.
Continuing, he said:
1T is the experience of all countries that
two standards Of money cannot exist
alongside each other unless both metals are
equally steady and untuctuatlng In their
value, unless the value ratio between the
two is of absolute stability and the metal
value of two coins of the same denonlina-
ton but of different metals is absolutely
equal Whenever in consequence of fuc-
tnafiorS their values hacome ,neouaI the
more valuable coin will disappear ron CIR
culation. The reason is not dlflcult I'd UNI
the silver dollar and the gold dollar ea|h
shall be of a certain weight which would
give both exactly equal value. NOW. sup
pose it should happen that one "f Inc
metals. say silver. should rise in price so
that the metal in the silver dollar Wodli be
worth cents more than the metal N Tie
gold dollar, what would follow? me sll-
yer dollar would disappear. 1t Void pay
to melt it into bullion, because if you met
thirty-three silver dollars You have thirty
four dollars worth OF silver. You IAN make
a dollar on every thirty-tnree dollars by con-
fif1cr HON int
the case in our country prior TO 1873. All our
silver had disappeared from circu: Itlon. so
if we now adopt free coinage d silver the
Sold VIII disappear from crciSt tol. II
mas in TACT already disappeared because
Who would be fool enocSh TO pay cut
gold dollar with the possibility in view of
buying FOR it silver enough 20 have lWo
dollars coined? Go to Mexico, to Japan,
to China, to any silver country and You
find not a single gold coin 1, in circulation
peared, if only silver is circulating all
prices are expressed in silver dollars, and if
the silver dollar Will be taken only Tor is
metal value it will be worth only half CT
what it is worth nav. the consequence, CT
course, must be that all commodities rise
in price accordingly. TC saa62 IL still clear
err TO you: II the government would decree
tomorrow that every natf dollar snail be
called dollar and shall be divided into
100 cents we would, as noM, have n dollar
of 100 cents, but DO You bcleye that you
could buy for half 'ioi,ar rs much as Tor
dollar because th;t1 Idlf dollar Is how
called a dollar2 No matter what you call
a coin its purchasing power is only that Ct
its metal value unless it CirculataS mere ly
as a money token, like paper money, with
the expectation That he red.aemcI Ivy the
government for its nominal value
''Therat )rc the a4rle OIL the ON remai,i.
ing, its falling value IS expressed by its
decreasing purchasing power. For what
would have to pay now Two dollars. There
viii be a general rise of prices. Every
your bread your meat, your wife $ ure SIS
your shoes will cost twice rs tnIch as be-
fore. 1t will cost YOU tWicc much to
live. Now, how about v0ur wages
WAGES LAST 10 3E RAISED.
Let me state to you anot1er economic
law in reference to wages. lf there IS a
general change of prices wages always toll
low last. 1t makes no difference whether
the change is upward or downward, wages
always follow last l will give you the
same law in another form. The costs of
subsistence do not rise and fall because
wages rise and fall, but wages rise and fall
because the costs of subsistence change
And because of wages not following the
change Immediately, but slowly, and per-
haps after a long interval, change in the
costs of subsistence may, if it is only tenn
porary, have no effect on wages at ALL be-
cause another change in another direction
may come before wages had time to fol-
low. But upon the otner hand, because of
the Slow change in wages the change in the
costs of subsistence may lower elevate
and, whether upward downward, will
never change in full proportion to the
change in the costs of subsistence.
Il Will explain this little more. If
there is "a general fail of prices it will be
some time before the manufacturer re-
duces wages He gets a lower price for his
product, but he also buys his raw material
cheaper. He also fears the resistance of
the workers; he prefers TO avoid a strike
il he can. After everything has gone down
at last wages are also reduced. Even if the
reduction should be in full proportion TO
the decrease in the costs of subsistence the
workingman has had at least the benefit of
the fall up to the time when it reaches his
wages. On account of the resistance of or
ganiZed labor it may be that wages would
not fall in full proportion TO the means of
living; it may last long until the fail of
prices reaches wages that the workingmen
have acquired habit of better living
which that they have elevated their
standard OF life. and this would be of last
ing and permanent benefit 10 them. Such
would be the effect if a country would
change TO the gold from the silver stand
ard. Because this change would result in
a general fall of prices. And indeed the
greatly better condition in which the work
ing classes were during the twenty or TWEEN
ty-ffve years following war may be
largely ascribed 10 the tendency toward re-
sumption of specie payment and the final
adoption of the same, that is, to the change
from deprecated paper currency 10 the
coin standard.
THE CONDITIONS REVERSED
''The reverse of all this will take place II
the gold standard is given nm and de-