The record-union., 1896-09-21
FREE COINAGE AND WAGES.
Men Working for Salaries Discuss
the Question.

the Question.
A man signing himself ''Wage-
Garner" writes as follows to the New
York Times:
I'm going to vote for Bryan" New
York man said to me. It's a good
chance to get in a lick at Wall street.
Devil take Wall street,"
Don't you care anything about your
self?" asked.
What do you mean?"
Don't you care anything about the
effect on your own earnings and do
mestic economy of the establishment of
free coinage of silver?'
"Oh, stuff. 1t won't make any diff
ference to me. Not a bit of differ
ence.''
Here is an intelligent man. a bright
man, man who earns his 81. 800 a year.
He didn't know that the establishment
of free coinage would affect him per-
sonally.
What is free coinage?" I asked.
Means that the Government will
coin all the gold and silver that's
taken to the mint free of charge.
Il supposed you noticed that provis-
ion in the Chicago platform in regard to
the ratio of 16 to II"
'Oh, yes
What does that mean?"
Means that sixteen times as much
silver, by weight, shall go into the dol
lar as of gold"
$50 that all a man need do is to take
certain quantity of silver to the mint.
| regardless of its market value, and get
| dollar for it?
Il suppose So"
so If a man can buy as much silver
as goes into a dollar for fifty-thre
cents he can sell it TO the Government
for a dollar?'
why, yes; I suppose so.'
NOW, do you mean to say that 1t
would not affect you personally if the
dollar of to-day, the one hundred cent
dollar, should be superseded by a fifty
three cent dollar?"
But it won't?"
why not?"
Hang it all, a dollars a dollar. It's
the stamp of the Government that
makes the dollar. Isn't this silver dol
lar that I've got in my hand as good
as a gold dollar?"
For present use it is. 1t is worth a
dollar to-day because practically it
bears on its face the promise of the
United States to redeem it in gold.
But If you should keep that dollar, and
unlimited free coinage should be estab-
lished in this country, you would see
the time when you couldn't exchange
1t for gold-a time when its value would
be simply the value of the silver that's
in it, just as to-day the value Of a gold
dollar Is the value of the gold that's
In 1t. You say the stamp of the Gov
ernment makes value? Really, you
don't believe that, do your"
Certainly; wherever the stamp goes,
the value goes. Isn't that true?"
Not a bit of it. The stamp on the
gold piece is simply a certificate Of the
quantity Of gold it contains. We are
shipping gold to Europe all the time
Europeans take our gold coin at it's ac-
tual bullion value. If there was more
gold in a So piece 1t would bring more
abroad; if less, the price would be
lower.
$50 it is in our own country. The
gold coin is taken for what it actually
is worth. 1t stands on it's merits There
is no redemption back of It, 1t is our
standard of value. If a man has a
many dQllars-and expects payment in
dollars that come up to the standard.
Not so with silver. The fifty-three-
cent dollar you have in your mind
stands precisely in the position of the
paper dollar. 1t is practically only a
promise to pay in gold. 1t would cir
culate as freely if there was but ten
cents worth Of silver in it, 1t is taken
|
question because nobody doubts the
ability Of the Government to redeem it
in gold.
Establish free coinage and. the sill
yer dollar will have nothing behind it.
1t must go for what it is actually worth
There would be no redemption. In the
first place 1t is not proposed to back it
with Government promise of redemp-
ton; In the second place, the Govern
ment could not keep such a promise
good if it should be made.
Free coinage means the substitution
OF the silver dollar for the gold dollar
as the standard Of value
Cant you see how it would affect
you personality" 1 demanded of nv
friend
I'D get my salary in silver" he an
swered frankly, mot necessarily silver
coin, but in dollars redeemable in silver.
Is that what you mean?"
That's part of it. You don't enter
tain any expectation, do you, that your
salary would be raised as the value
Of the money standard should fail?"
DO l? OF course / don't I've seen
too much of the world to expect the like
of that Men who work for wages. big
or little, would keep on working at the
same wages. I've no doubt of that"
How about your expenses? The
rent, for example. You pay $50 month
now for your fiat, you say. Will your
landlord continue to rent that fiat for
$50 when dollars shall be worth 80
cents. 60 cents, 40 cents? What do you
think about it?''
Il wouldn't If I was he"
How about clothing, food and the
other necessaries of life? Would your
salary go as far after the scaling down
by free coinage as it does now? You
paid about $50 for that suit, I Judge
$50 in gold You don't suppose thirty
80 cent dollars would buy such a suit
of Clothes do your
Another thing. Is your life insured %
Yes; for $4,000"
Comfort to you to think that if you
should die your wife would get that
St 200? You needn't say yes l know.
Now, how would you feel if this So. 900
should be scaled down to about so per
cent?"
THAT would be devilish."
That's what free coinage proposes.
IT proposes, too, that every dollar YOU
and your wife, by dint of economy. self
denial and hard work have put into the