The Green Forest tribune., 1896-05-28
CARLISLE Al CHICAGO.

CARLISLE Al CHICAGO.
eheap money. OF, IN othef words, this,
system Of silver monometallism which
YOU are asked to adopt here, had upon
the wages OF labor in that country.
"In 1878, when the peso was worth
S8Hs cents, mechanic, d boiler1naker,
| blacksmith, carpenter, a fireman
| and an ordinary laborer received to-
gether for q days work 1sK pesos, Or
S16.37 in our money. In 1888 the same
persons received for the same work
2oA pesos; but, owing to the deprecia-
ton of the currency, this was equal to
only $10.93 in our money. and in 1898,
20 years after the country had de-
! scended to a silver basis, the same la
borers received for the same work
25.95 pesos. but the value of the peso
was less than 35 cents, and consequent
ly their wages amounted to only $s.34
In our money, Or just about one-hale
of what they had received 20 years be-
fore.
"Our minister to Chill. after very
careful examination of the entire stu
"
taken for granted that in Chilli. as in all
other countries which have like flnan-
clal experience, the consequences of
cheap money have weighed most heav-
lily upon the classes that are least ahla
to support the burden" The evils Of
silver monometallism and depre ciated
currency finally become intole1able in
hof oil 1fYh3
considerable silver and very little gold,
It has recently adopted the gold stnnd-
ard of value.
'-Our nelghboring republic of Mexico
has the silver standard Of value, golt!
not being In use, and II cheap money Is
a blessing to the laboring man he ought
to be prosperous and happy in that coun-
try. The Mexican dollar contains 377.l7
grains Of pure silver, or nearly six grains
more than Is contained in our dollar.
and yet, not being sustained by none
tary system which keeps 1t at a parity
with gold, 1t is worth only about IS
cents In our money. Wages are paid i'll
silver and are very low In comparison
With the wages paid In this country fol
the same services, in many instances NOT
being half as much, while the prices Of
commodities generally are much higher
than they are here.
The prices of imported articles cspe-
cially are exorbitantly high in Mexico.
because they have to be paid for abroad
In gold, and the depreciation Of their
money is SO great that 1t requires nearly
$2 in silver TO pay 81 in gold. Although
our own silver dollar contains less flpe
silver than the Mexican dollar, one Of
ours is nearly equal in e1changeable
value to two Of theirs, because here tho
coinage is limited, and the government
issues the coin on it's own account and
has pledged its faith and credit to keep
them as good as gold, pledge that has
been faithfully kept up to this time,
notwithstanding the complaints and de-
nunciations Of our free-trade oppo-
nents.
IF we are to have free and unlimited
coinage Of legal tender silver for tho
benefit OF the owners of the bullion,
the value Of our dollar would be no
greater than the intrinsic or commercial
vnlue Of the silver contained in 1t, and
its purchasing power in the markets
would bo diminished about one-half,
but the wages Of labor would remain
for long time atleast, substantially nj
the present rates, or, II they should be
nominally increased ON account Of the
depreciation Of the currency, experience
IN tho past shows that they would not
increase IN proportion to the increase In
;he prices Of commodities. Rises in th4
rates Of wages take place very slowly.
while the prices OF commodities move
rapidly. at some periods changing sev-
eral ttmea in the course Of single day,
and these movements are always moro
frequent and more harmful when tho
currency n In an unsettled condition. 4
IF the solution Of this question affect
ed only the character and amount and
purchasing power OF the future earnings
OF the American laborer, it would still
he subject of the gravest importance
to him, but its Importance is greatly
Increased by the fact that the safety
and value OF very considerable part o.
his past earnings are also involved. The
thrifty and provident workingmau Ia
not debtor, but creditor, and tho
corporations and individuals ha wing tha
custody OF his earnings are indebted to
him and ought to pay what they owe
him in just as good money as he put
into their hands.
THE banks, trust companies, build
ing associations and other similar In
stitutions owe the people of the United
States to-day $3.50, ,138, ,521 for money