The sun., 1896-08-09
GOLD AND SILVER.
History Proves the worhiaEnnn Isrospers
Gnder GoId-He Needa thn Heat.

GOLD THE POOR MANS MONEY
History Proves ths yyortinGmnn PROSPER
Under Goid-He Needs the Best.
To the EDITOR or TUE SuN-SGr: You 50
, "sllvcr ia the poor mans money-the working
mans money!" asked OF my Democratic friend
who. largely through mistaken party loyalty
was leaning TO Bryan and free silver" "well
1have voted the Democratic ticket as often N
you have, but can't agree with you. History
shows that the contrary is tho truth: gold is til,
wage earners' friend, his best ally; silver hi.
worst enemy"
That is n surprising statement" my friend
exclaimed. II never saw any gold in the hands
OF tho workinRman- among the poor. How do
you Mt that fact with your assertiUn?"
"Thatis is q fair Question-one that has served
70 create this very prejudice against gold but,
like many other prcJudices, 1t does not bear the
light OF reason. Of full discussion. You Say,
now. the poor man, tho wage Garner. never sees
gold. and that therefore II cannot be OF any use
TO him. But have you ever considered that
every dollar that now comes into the hands of
the worklngman-yes, every cent-is practically
gold dollar. practically gold cent? Why?
because tho Government Of the United States.
the Treasury. stands buck OF every one OF those
dollars. every one Of those copper cents, with
gold ready for resumption purposes.
you hold In your hand Is worth as melted bullion
about 90 cents Where dncs the remaining Al
Sro mo TSrs G fr9%
much ls the copper In cent worth, how much
the nickel In Scent piece. the silver in 9 dime.
coius stands on its own intrinsic value. Every
one ot them, in their power Of purchase. Is now
gold and silver coin does not circulate exten-
sively among the people. largely because OF in
convenience and also because of a Government
policy OF substituting for the coin the notes that
stand Tor II; THIS policy grew out OF the Issue OF
Treaaury. II gold has disappeared from com
mon CIRCULATION II Ia chiefly due to the practice
forced force 9y political pressure nron tho Govern
for the redemption OF which the Treasury has
been compelled to keep huge eold reserves and
the banks gold funds to meet emergencies"
But wont tie free coinage of silver at 10 to
-" Free coinage OF silver will compe the United
states Treasury to announce that 1t la unable 10
keep its silver. and notes as good as gold, re-
fail I? its bullion value 81 cents. the minor or
subsidiary coins In proportion; The fixed wages
game in name, II the employer survives the |
bnsiness it shock but in thc power Of purchase
:" But wouldn't free coinage release the gold |
from the Treasury and banks among the peo-
pie T. my Thd friend ma Inquired ,.g r. u,o,,.,
released for exrort. The gold dollar will go |
where II will bring it's true bullion value it is
100 cents, gold. with dollar worth So cents, in
unlimited quantities. They remain side by side
less valuable one In bullion Is limited in guam
tity. The increase Of the supply through the Sill
brought on the panc Of isas % What woud ToI Tam an
Act Actor OF m ne . same knd free coinage act. dor
How would that affect the poor man ?"
me poor mans money-bts wages and his
sbayyti1Fswond bayt be % worth their silver value one
how silver, under those conditions, would be
. But would not the silver dollar advance to
The value OF the present gold dOllar?"
The Treasury hasspent for silver in eighteen
has steadily fallen. The rcasonis. the supply
increased to meet he demand. and the supply
e not yet more than scratched. In Mexico.
ioiiar Is worth only its bullion rr!ce; silver
io,isr though holding less silver; buys twice as
In Unlimited amount could not be kept gold
y r our Ire tlreasIry and ne moor i,nn would End,
olars for his living where he is now paying tho
ne ne dollar which is kent gold st the Treasury,
Has Mexico more money under free coinage?"
"Mexico has st.l7 per head of population. We
ers Not tiEt nione, but. undo or our present gold
tandard, wrges are more than donblc those
How do know that ," asked i' nv friend
when | mention the silver-standsrd cnun-
sss y9m VIII hot need the figures to prove my
,hina, Japan. Mexico. Central A .neriran States.
ndia na free coinage recently, stopred,. Russia
traits settlement '" ko'" '"s'''' anu 'he !
". The he better .he dollar the higher the wages
unce OF gold Is worth sixteen times as much as :
q ounce Of silver. that's @ to ! nil the world {
commerce snys 80 TO L that's the bullion
rice. But. taken at the 'free-siirer mans
Wn WORD. gold 10 the more valuable metal.
The American work kifgmRn's wages are now
old, with gold purchasing power. Does he do !
ou, my friend. wish to exchange your labor for |
ne peter metal for gold. or for the cheaper
ieta!, Tor silver. for adepreclated dOllar2 q
men Is the poor mans friend. the good dol
y or the bad dollar. the 53-cent dollar or the C
OO-ceht dollar; which will buy the more food, !
ne more clothes. or pay the more rentI"
NEW YORK, Aug. /. JOHN J. ROONEY.