The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-09

when the highest wages ever received
were paid. The wages were so per
cent higher in 1890 than they were in
1850. A dollar In 1890 would buy Y
per cent more Of the necessaries and
comforts of life than the dollar Of
1850 would buy So say labor went
up and gold went down, measured by
labor. (Applause). Hence you can't
charge the gold standard with injuring
labor.
What broke down the labor unions ?"
asked a voice in the audience.
'1'll tell you what broke them down."
repeated Mr.. Rankin, "the Democratic
party with it's free trade fallacies.
~ say to you that whenever labor
commands the greatest wage and that
dollar will buy the most of the neces-
sites Of life. that is the time when Ia
hor is blessed" (Applause)
Returning to the 53-cent silver dol
lar, Mr. Rankin explained what be-
came Of the At cents. After the gov
eminent has coined and Issued a sill
yer dollar, it is bound to keep 1t on a
F.ar with gold. Under free coinage, no
such obligation is incurred. The gov
eminent can issue g. limited quantity
and keep them at par with gold. Mr..
Rankin then read the law, declaring
the obligation of the governmen to
kt ep the silver dollar at par. A dol
lar that will pay 100 cents worth Of
debt, but could only buy SO cents worth
Of material is a dishonest, dirty dol
ler. A free coinage dollar has to stand
on it's own. merits.- The government
cont issue 1t. It simply stamps it and
gives 1t to the man who owns it.
"Under free silver how will the sill
ger dollar get into trade ana business
channels, and who will get the bullion
coined? Mr.. Silverthorn, with whom
publicly debated this question in
Wisconsin, answered the last ques-
ticn this way: The men that own
the bullion will bet it coined That's
what l would like to have Bryan make
clare to the common people" CAP
plause.)
Somebody in the audience asked how
the gold would get into circulation.
Mr.. Rankin did not answer this ques-
ton.
The speaker said that there were
five. companies owned all the silver In
this country. These five companies rep
resent an aggregate Of $547, 900, 900. The e
are the fellows that want to get their
silver coined. Mr.. Rankin then drew a
word picture of a bullion owner driv-
ing up to the United States mint with
load Of silver, and asking Uncle Sam
co coin So cents of silver into one dollar,
for nothing and quickly too. Mr.. Bryan
says that opening of the mint at 16
to 1, will raise the price Of silver to
par with gold. The opening of the mint
to silver don't raise the price Of the
silver The bullion is simply changed
into coins and stamped by the govern
mel1t Coin says there are $3.50, 000,0 900
OF silver in the world used as money,
and Mr.. Bryan says he believes that
all this So, 800, 900 can be raised to
par with gold. If that was SO, China
and all the silver producing countries
fhair ell
elect Bryan, If that would raise their
silver to par with gold. Think Of 1t,
raise the price of nearly $4,000 ,000 900 of
silver 47 cents a dollar. Such a propo-
sition insults our intelligence. 1t Is
ridiculous. But Bryan says free coin
age will raise the prices of things and
start the wheels Of justice. Why 49,
00e, 900 Of silver dollars wouldn't buy
the beer consumed in Chicago in a
year.
Mr.. Rankin proceeded to discuss the
question Of getting the free silver dol
lars into circulation so as to employ
labor. There are two ways. The men
who get it coined must put it into cir
culation, or else other men must borrow
il from the men who had it coined.
The silver owners are not employers of
labor Now who VIII borrow that
meney? Today business Is paralyzed,
wages low, etc. submit to you that up
to two and half years ago there
wasn't single enterprise that couldn't
borrow money on good security. But
it was because they didn't want the
money, for they feared to venture. They
lacked confidence and hope. Now be-
fore they will borrow money they must
have confidence. But confidence and
hope do not exist How then are they
going to borrow money with which
to employ the idle labor?
Heard Gen. Mason.