The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-03

power of wages to purchase, the days pay
of 1890 would secure SIR worth of the
necessaries of life where the wages OF 1850
would purchase but a dollars worth: Sc
cure TO me the return of the times OF 1886,
with their wages and their full value dol
lars, and those who will may chase after
plutocratic mine-owners' silver into cheap
dollars"
AS TO CHEAP" MONEY.
"I would cali your attention" said DR..
Thompson Ito the figures showing the
purchase power OF cheap money. During
the year 1855 the paper dollar had a pur-
chase power of but 1917 cents compared
with the gold or corn dollar. The wages
paid in those dollars was s1.43 compared
with 81 in 1860. But the dollar in which
wages were paid made a days wages only
~ cents in gold, while the prices of food
and clothing. the first three articles
mentioned were more than doubled.
Under the paper money period of the war
wages rose 43 per cent. but meat advanced
81 per cent. other food 40 per cent. and
| clothing 1879 per cent. That is, wages under
| an inflated or cheap dollar currency do not
rise anywhere near as rapidly as to the
necessaries of life.
Il inink we are all forced TO the conclu-
| sion." said Graham, the carpenter, What
those who work for wages would be the
sure victims of the free and unlimited
| coinage of silver. The dollar which would
| not buy a dollars worth would still be
| called a dollar. and we would be forced to
take it as such, just as was the labor OF
the war period. when IL was not over
half a dollar when 1t was used to pay the
Daniel Webster died many years ago.
remarked DR.. Thompson, but he uttered
a great truth. more than sixty years ago,
when he compared with wars, as the de-
stroyers OF national prosperity. the evils of
a debased coin and a deprecated paper
money"
Il was taken by the claim that prices
h had Skunk Of oe sold OF sfid the s, scareity s or npI
had investigated and found such facts as
we have had before US. All the facts are
against IL. and all the basis the claim has
had is the assumption of a few professors
who. instead Of pursuing an investigation
to arrive at conclusions. adopt a theory
and try to fix facts TO sustain II. III there
had been an appreciation OF gold by rea-
| son of scarcity so as to affect the prices
of merchandise, ii would have cut al down
| alike, and the price of labor would have
fallen. Instead of that, the price or labor,
which goes into everything. has gradually
Senate. since specie resumption in 1879 on
the gold basis. That one fact settles IL In
my mind"
off with Snyder after Growers clover"
said Charley Holstein. a furniture factory
hand. and I'll not trouble myself about
A rec SllEtI. = uS Sc both " sun NcSo
by stamping the Mckinley eagle election
day."
CHEAPER FARM IMPLEMENTS.
"I saw some figures prepared by st.
Louis dealers in agricultural implements.
showing how many bushels Of wheat, corn
and oats ii took In 1873 and in 1889 to pur-
chase the whole line of agricultural i'm
PIGMENTS" said Mckinney, the hardware
dealer. II can't give the whole list. but 1
nave copied a few Of them. In 1878 1t took
277 bushels of wheat. or 769 bushels of corn.
or S57 bushels of oats to purchase a bind
err: in 1889. 1S5 bushels of wheat, or 422
bushels of corn. or 52 bushels of oats
would have got a better binder. In 1873 1t
required s31a bushels of wheat. or $50 BUSH
els of corn, or 354 bushels Of Oats to pur-
chase a one-horse mower; in 1880. G1a
bushels of wheat, or 14o1z bushels of corn,
or 1S71a bushels of oats would have got
such a machine. In 1873. 6 As bushels o:
wheat, or 2O1z bushels of corn, or % bush.
els of oats were needed to buy a one.
horse cultivator. In 1889, 4A bushels OF
wheat. IL bushels of corn or 14a bushels OF
oats would have bought the cultivator.
These figures go to show that agricultural
implements have fallen in price vastly
more than staple farm products
nering of gold in front of the postoffice
yesterday" said Epson. the accountant. at
the furniture factory. He declared, that
the money baronS could corner gold and
ruin all the business of the world. /
thought I would look the, matter up. so I
volume of gold in 1890. read by Mr.. Sifmons
two weeks ago. which show that So, S55, 200
600 was IL coin and s2.171, 500. 900 was un-
| coined. Tbs vast amount OF uncoined gold
is in jewelry and other forms. and much
of il could be turned into the minis IL
there should be an attempt to corner gold.
Again. the increased output of gold is mar
Vicious. The aggregate yield OF the gold
mines of the world during 1882. 1883. 1884 and
lss5 was Vas sto5 500 GOO, During s ls92 7od lS seq 1884
jumped from STAG. S15. 0c0 in 1892 to $203. coo. 900
in 1895. This year the output is estimated
at 500, 900. 00. and Mr.. Carpenter, in a letter
In the indianapolis Journal. says that it is
predicted that the yield of gold in 1900 Will
be worth $500. 00. eco. So it seems to me that
all of this chatter about some bold. bad
mer cornering gold is absurd. II they had
wanted to corner. why had they not tried
it when the mines were producing one-half
II have collected some figures showing
the number OF persons who must suffer
Se9u bas ine c said Mu ne no { the eeP GRAIN dealer 81
II believe that the whole country, except
the few engaged In silver mining and spec
thhose Who Would be ROBBED If they should
be paid with a deprecated silver money.
I have collected a few statistics: There are
000.WO a year. Jan. ], 1895. there were A.
S75.519 depositors in savings banks whose
/ deposits aggregated 81. SlO. 09I .O23- The build
ing and loan associations have about q
0U0. eco shareholders, three-fourths OF whom
are creditors. and they have loaped $500
900, 600. The hundreds of fraternal secret
societies which sustain life insurance and
benefit features have 2.011. 347 insured men,
bers and carry 81, 356. 100. 7S9 of Insurance.
There are in force nearly 100000 life in
surance policies. representing s5.S56. l6s. So.
Here are over Is. COO. 900 of people who would
be losers by being paid in any sort of a
dollar which is not as good as that now
in circulation. 1t is safe to assume that
II. 0C0.0 600 of these people have about the
whole of their savings In one or the other
of these forms OF investment"
"Ard ii is. proposed TO rob all these peo1
pie to make a limited number of capital
lists. American and British. very rich adj
ded foreman SPyder.
You have enough TO think over for 4
week" said Sergeant Hobbs. .the Cnndid