The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-25
FOR LABOR TO PONDER.

There are a few very simple ques-
lions for the workingman to consider
seriously between this and week from
next Tuesday. We would ask him par
ticularly, as patriotic American citi-
zen, as devotedly attached to his coun-
try and it's institutions as to the or
ganization of his fellows to which he
may or may not belong, to study what
is likely to be the practical effect upon
his personal fortunes and those Of his
class, if we may use, for convenience,
that odious and misleading word, of
the success of the Chicago platform and
the election of the nominees who stand
on it. We will not now assume that
anything has been proved, but, simply
presenting the chances that are in
volved in this election, will ask the
laboring man to notice carefully how
they affect his future position.
Taking up first the assumptions of
Mr.. Brysn, we will notice that in no
possible event, ey&n if they be correct,
can labor be benefited. Mr.. Bryan and
his cohorts say they believe" that UNI
der free coinage the price of silver bull
lion would rise forthwith to $129 per.
ounce. The only support for this is
their belief" and S"confident assur-
ance" Assume, however, that they are
right. If silver goes to $1.29 per ounce,
the silver dollar becomes thereupon as
valuable and as difficult to obtain as
the gold dollar There can be- then, no
increase in wages other than what is
matched by corresponding increase
in prices. The very best that could
happen in this event would be for labor
to gain in one direction what it loses in
the other.
Suppose, now, that the contention of
the opposite side be correct. and that
the adoption Of free coinage would at
once cut the value of the dollar in half.
or at least reduce it materially, while
at the same time so disturbing and
alarming capital as to drive it into re-
tirement; thus necessitating the closing
down of thousands of industries and
the throwing out Of employment
of hundreds of thousands of laboring
men. 1t is clear enough that in this
event labor would be doubly the suf-
ferer. Capital could stand the loss.
Capital generally can. OF course, those
who have anything would lose a share
Of it, but they would at least have
something left. Men who drew their
money out of banks or ceased to put
1t into business operations could at
least live on 1t until it should be con-
sumed. They would not perish, nor
their families starve. But picture the
condition Of labor. In this possible
contingency the dollar would depreciate
and it's purchasing power be corre-
spondingly diminished This. is eouiya-
lent to a cut in wages.
On the other hand, we do know, from
the present condition of things, which
is one of anxious suspense. and in which
every industry is running at the low
est possible pressure until after cleo
ton. that the success of Mr. BRYAN
would be followed by a curtailment of
production in every department. Pos
sibly these men are all mistaken. But
that is not to the point The fact is
that if Mr.. Bryan should succeed all
forms of investment would be re-
duced to a minimum There would be
even less occupation, and therefore less
demand for labor than in the do I'll
days of the summer of 1898.
Now. these are all the probabilities
that are within reason bearing upon
the interest of the workingman On
the one side. If the rosiest visions Of
those who appeal to him should be fu1-
filled. the best that he could hope for
would be to be left with an undim,n-
1shed wage wherewith to procure com
modities steadily approaching in price.
His experience tells him that to raise
his wage correspondingly would involve
a struggle and probably a strike. There
Is certainly nothing to gain here. IF
the other side should be : the true
ppphets. he would lose instantly e
large portion of his. wages by an i'm
mediate increase in prices to match
a depreciation of currency, and he
could contemplate the certainty of the
s destructionofi employment, fer from 80
to SO per cent of the laborerss arr
now engaged in different occupations.