The San Francisco call., 1896-09-13

or try the hazardous expedient of engaging in
the free coinage of silver, an experiment that
has worked disaster everywhere and is bound
TO work ii here If ever tried Some phases of
this question want especially to put up for
your consideration. The statement is made
that the gold standard has injured the coun-
try, diminished the prices of agricultural
products, appreciated the price of gold ana
wrought ruin ana disaster TO the country
This is, OF course, mere assumption ana is
based upon the fluctuations of the market
prices of commodities, which in many in
stances have diminished in the last twenty
five years, and because of this decrease in
prices it is asserted that gold has appreciated
The fall in prices every man in this audience
knows is easily and readily accounted Tor
upon moments re election.
The decrease in the products of commodf-
ties has been going on ever since skill and
genius and invention have been at work and
such cheapening process has been marked and
conspicuous for a third of a century, aided by
protective tariff and the rich rewards that
our prosperity has offered.
Whenever agricultural products have fallen
IN price it is discoverable that there has been an
increased production. As great areas of land
have been opened to the raising of farm pro-
ducts, the quantity of such produc has in
creased and the demand not increasing in the
same proportion prices have logically and in
evitabiy fallen. If there is one days labor
for sixteen workingmen, you would not get as
good wages as though there were sixteen days
work for one workingman. daughter and
continued applause.l And that is the sort of
16 to 1 we want in the United States. IAp-
plause.l The changes in the prices of agri-
cultural products or any other commodities
which have been cheapened in their produc-
ton by improved machinery and more COM
petitive fields with their great production does
not prove that gold has advanced in value,
but simply that such products have fallen
in price.
bushel OF wheat, even at the present low
price, will buy more American commodities
than the same quantity would have bought
thirty or forty years ago. All, gentlemen, are
not the wages paid labor rather than the ever
changing market price of commodities the
best and most logical test? Is not the labor
of men rather than the thing which his labor
creates the real test? Have the wages paid to
labor since 1878, measured by gold. de-
creased? TApplause.l That is the crucial
question. We resumed specie payments on
gold basis. January 1, 1879. Since that time
wages and salaries have not declined, but have
risen. In 1880 the number of employees in the
manufacturing industries of the United States
men and youths, was 2.732, 900, aggregating
in wages $947, ,375 900, or an average of 1924
per capita. In 1890, ten years after resump-
Tion, the number of wage-earners was 4,7I2,-
622, aud their aggregate earnings were
g, ,2S3, ,2lS,529. or S4SS per capita. This
showing would clearly indicate that the gold
basis has not injured labor.
The cheapening of commodities comes from
the introduction and application of labor
saving machinery, both on the farm and in
the factory. There is scarcely any branch
of production which does not turn out
more commodities per hour of labor than
in 1873 1t would be just as reasonable
and just as conclusive to say that the
suspension of the free coinage of sill
yer in 1873 reduced the price of steel rails
from $125 per ton TO S25 and $50 per ton, the
price now prevailing, as to say that act reduced
the price of wheat. The price of wheat is fixed
by the law OF supply and demand, which is
eternal.
Gold has not msde long crops or short crops,
high prices or low prices Gold has not opened
uD the wheat fields of Russia, India or the Ar
gentine Republic; nor win free silver dry
them. Gold has not kept up the freight rate
for the agricultural producer and the stoppage
OF free coinage in 1873 has not advanced IT,
In 1873 the average freight on grain by lake
and rail from Chicago to New York was 26 9
cents per bushel.
In 1895 it was SO cents per bushel Our
working people have bought the necessaries
and comforts of life cheaper for themselves
and families during all these years sinea
1873 and down to 1892. They were getting
better wages, paid in gold, for their labor than
ever before. In the United States everything
has been cheapened but men, and as nearly as
can ascertain in the free-silver countries.
such as Mexico, Central America and south
America, man alone has been cheapeped.
everything he buys having been steadily in
creased with constant fluctuations by the
steadily decreasing price of silver With the
gold basis and the protective tariff from 1878
to 1888 the workingmeu of this country were
never before so steadily employed. They
never before received such god wages: they
never before were paid in better money, and
their wages never before bought SO many OF
the necessaries, comforts and luxuries of life
lAppleuse and hurrahs for MeKinleyl
Ii gold standard deprfves the American
toller OF single days work or his family of
single comfort or reduced his wages or made
life harder for him I should be against il. TAp-
plause.l As IL does Tot and as ii promotes the
general prosperity and upholds the National
credit and honor, am for it, and shall stead
lly favor 1t SO long as believe it is truly bene-
hcial and advantageous to our country. uoud