The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-07-10
ELI PERKINS ON FINANCE.


Perhaps it is because "a little nom
sense now and then is relished by the
best of men" that Eli Perkins writes
to the New York World on The Fall
lacy of the Free Silveri%es." He takes
as the text of his letter this statement
from Governor Altgelds interview in
the World: And gold has appreciated
in value" Ard then Eli, get there
Eli" proceeds to say: Now Mr.. Edi-
tor, if gold has gone up in value since
civilized nations stopped coming silver,
why should the laboring man who is
being paid for his labor in gold, or
silver guaranteed as good as gold, de-
sire free coinage?"
Simply because, dear Eli, the gold
having appreciated the laborlng man.
wages have gone down corresponding
ly; and the appreciation of gold being
continuous, so is the depreciation of
the laboring mans wages. And, more
over his opportunities for earning his
reduced wages are being continually
lessened
Eli continues in this sage strain:
The farmer is now selling his wheat
and cotton for gold or its equivalent.
Every one OF the 10000. 600 people in
this country are using money as good
as gold and which can be changed for
gold, except the 5000 mine-owners who
are. paying themselves in 50-cent COM
mercial silver. The mine laborer is re-
ceiving gold for his labor In fact, the
only people who would be benefited by
the government paying double the
value for silver would be the mine
owner. Free coinage would double the
wealth of 5000 silver mine-owners. So
if the government should buy all the
wheat raised IN this country it would
double the wealth of the wheat farm
ers. 1t would be at the expense of the
government though. But would it help
the cotton raiser?
But gold never changes in value.
We used to say during the war, Gold
went up yesterday. 1t did not go up
-greenbacks went down. When gold
was said to be at 2.S5 in this country
before Gettysburg-it had not changed
in England. That day our greenbacks
were worth about 50 cents in England.
My brother bought a house in Cincin-
natl the day before Gettysburg for $685.
600 in greenbacks. The owner offered
it the same day for S12,5OO in gold.
Greenbacks We're down.
Very we'll Take the illustration of
the ups and downs of greenbacks.
They were up and down as there was
a supply or scarcity of gold, or as the
chances for the government getting
gold were up or down. 1t was the
scarcity of the metal that caused the
depression in the greenbacks. And so
it is today. 1t is the scarcity of gold
and the insistance upon it as our none
tary standard that is causing all the
trouble at present. Gold may not go
up or down, if people so choose to put
it, but the price of the farmers wheat
or cotton goes down as gold becomes
scarcer; and an increase of demand for
it. which necessarily comes from an in
crease of population and business,
causes a scarcity of gold.
1t is an axiom among theatrical
people that no man who has played
comic parts can ever succeed in
tragedy, no matter how great his
talents in that direction may be. 1t
will apply to ELS case as well. No
man who has been a comic writer and
lecturer can succeed in the serious
business of discussing financial ques-
tons.