Delaware gazette and state journal., 1896-04-09
The manufacturerS club aud the Money
nnesiinn.

Philadelphia, called for tho purpose of
repudiating the late alliance of some
OF its members with the Republican
silver Senator's with protection and
free silver coinage as the main object,
an editorial in the current issue of
Tho Manufacturers, the clubs news
paper property and organ, is of special
interest. Tho tone of tho editorial
article takes issue with tho clubs dec
laration against FREQ silver coinage.
The editorial, which leads and is
printed couspicuously, comprises the
reproduction Of statement made Off
cially by the directors of the Manufac-
turers' Club on July Let, 1895. The
statement held that the clubs attitude
upon the financial question had been
misrepresented and misunderstood, and
proceeded to make declaration (which
shall definitely explain what they be-
ieve to be the sentiment Of large
majority of the members Of the organi-
2ation." Then follows citation of the
money plank adopted by tie Republican
national convention OF 1892, to the
effect that "the Republican party de-
mands the use Of both gold and silver as
standard money" and quotation
from the financial plank of the Demo
cratic national convention, which also
fRvors gold and silver, and the coinage
of both without discrimination
against either metal, or charge for mint.
age. - Next comes the following official
declaration;
1t Ia fair Inference that these off
cial utterances of the two great politi-
cal parties represent the opinions upon
this subject of the mass of the Ameri-
can people. That thny do in fact rep.
resent those of majority Of the mem
bers OF this club, we confidently believe.
There is therefore, in our opinion,
almost, if not indeed quite. complete
unanimity Of belief that bimetallism,
or the use of both gold and silver gs
standard money, under the system com
monty known as the double standard,
would be beneficial to tho American
people. This belief aoeords with the
tradition and practice of the govern
ment, us the system ITSELF in our Wow,
does in peculiar manner with the
inteFestE of a nation which is the chief
of all the producers Of raw material
and is heavily in debt.
An ensuing paragraph fsyors "co-
operative action Of the governments of
great nations' MS the best means of
procuring the restoration of bimctall.
ism. The statement closes with the
following "1he Manufacturer, the or
gan Of the club has not advocated other
financial views than those which we
have expressed" +"
Here We have the admission, un,er
the sanction OF official authority, that
The Manufacturer is the organ Of the
club, and that it was advocating tinan-
cial theories thoroughly in accord with
the sentiment of the members of the
organization. 1t wan not until public
indignation was aroused by the solfish
combination for protection and free sill
yer coinage at Washington, that the
Manufacturers Club felt impellod to
rise and protest against the financial
doctrine that had been preached with
out protest by lite special organ, and
that had received, as il now appears
the official sanction Of the directory df
tie club
1t ia reasonable to infer, therefore,
that oven now the Manufacturers
Club is willing TO "straddle" the finnn-
cial issue, if the selfish cause OF protcc-
tion may thereby be promoted.
Tho workingmcn Would Suffer by It.
Tho Baltimore Sun, referring to the
recent combination effected 10y the
friends of high tariff protection-par-
ticularIy certain manufacturers OF
Pennsylvania and the advocates OF
free silver coinage, gives a very per-
tinent explanation of why the formor
should deliberately go in for fifty.
cent dollars" I" II says;
1t is by a reduction Of wages, effected
| through reduction Of the purchasing
| power Of the American dollar. In
Mexico, China, Japan and other coun-
triea which have the silver basis, wages
are extremely low, and only by getting
down TO the silver basis can tho wages
ot American workingmen bo reduced
to tho figure desired by the protoc-
zionist silyeritcs. II may be said that
the lahorer, on a silver basis, will be
smart enough to ask and got two silver
dollars idf hiH labor where he now gete
one dollar exchangahIo for a gold dollar.
But history teaches the contrary. When
the era Of free coinage and 10 cent
dollars arrives the working people will
nevcr get their income increased 10 ar
extent sufficient to make up for tho in.
creased price of commodities. Mer
chants, bankers and other persons il
active business, after tho panic thai
ushets in tho change, will speedil,
adapt themselves to tho now situation
Gooie will be marked IN aa tho valut
OF the currency goes down and contracts
and loans will stipulate for gold pay
ments, but workingmen and pcrsonI
having liked incomes from salarie
or interest on investment ta-will b
severely pinched. After time wage
VIII rise somewhat 10 compensate fo
the reduced value Of the dollar, but no
to such an extent as 10 place the WACO
Garner where he was before free coInag
brought US to the silver basis.
And so, in this matter as in man
others, those who work on wages 70
their living would suffer most severely
Tho worshippers Of high protoctio
hago never advocated their pot thear
with any purpose Of aiding labor, an
it 10 not to be presu umrd that they ar
actuated by any good feeling for th
workingman in advocating a fifty cen
dollar with which TO pay his wages.
The laboring classes are entitled /