Omaha daily bee., 1896-10-21
PROGRESS UNDER A GOLD STANDARD

bIStiuS ihu blSCIcult.
PROGRESS UNDER A GOLD STANDARD.
The man who believes that progress
and prosperity are not attainable under
a gold standard, as the popocratic lead
ers preach, must be blind to the marvel
Gus advance of the United States during
the period since the resumption of specie
payments, but little more than seventeen
years ago. A distinguished European
statistician, writing on the results of
the census of 1890, said: "It would be
impossible to find in history n parallel
to the progress of the United States In
the last ter years. Every day that the
sun rises upon the American people ii
sees the addition of S250O,00O to the ac-
cumuation of wealth in the republic.
which is one-third of the daily accumu-
lation of all mankind outside of the
United States" This was written in
1892, when this country had reached the
highest degree of prosperity in its his
tory. If it is not now adding daily to
its wealth as 1t was then, the fact is
not due to the monetary standard, but
to the assault upon that standard and
upon the policy of protection.
The history of the period between 1850
and 1892 shows an enormous industrial
development. Perhaps this can be IL
lustrated in no better way than by the
statement that in 1880 the number of
employees in our diversified manufactur-
ing Industries was 2,7I0,000, while in
1892 there were over 100000 employees
in these industries In the meanwhile
the wages of labor had steadily in
creased, so that the great army of wage
workers was earning more than ever
before, living better and saving more.
If comparison be made with an earlier
period, when we had so-called bimetal-
lism and practical free trade, the ad-
vantages enjoyed by labor under the
gold standard and protection will ap-
pear still more striking.
In 1880 the capital invested in manu-
featuring was 81. .232, ,000,000 anu in 1890
it was $2,0OO,OOO 900, having more than
doubled in ten years, and the amount
was considerably greater in 1892 than in
1890. The product of the manufacture
ing industries I'm 1892 was about double
in value the product of 1880 and the
wages earned in 1892 was more than
double the amount earned in 1880. Not
only was there this large aggregate in
crease in the earnings of labor employed
in manufacturing industries, but an in
crease per capita from 1886 in 1880 to
S5l7 in 1890. Railroad extension was
active during most of this period and
there was n steady agricultural develop
ment, while building in the cities and
public improvements of every kind went
forward on most generous scale. Dur
ing these twelve years both our domes-
tic and foreign commerce grew rapidly,
reaching in 1892 unparalleled proper
tions. In his annual message of that
year President Harrison said: There
has never been time in our history
when work was so abundant or when
wages were rs high, whether measured
by the currency in which they are paid
or by their power to supply the neces-
saries and comforts of life.'
Such are the incontestable facts at
testing our progress and prosperity un-
der gold standard and protection.
They are especially commended to the
consideration of workingmen, for they
show that the greatest benefits accrued
to labor During nearly the whole of
that remarkable period in our history
there was work for all at steadily ad-
vancing wages and never before in this
or any other country did the working
classes enjoy in so large measure the
fruits of their labor. 1t is the purpose
of the republican party to restore that
condition of affairs. 1t proposes to ere
ate market for labor by judicious
protection of American industries and
it also proposes that the earnings of la
Dor shall be paid in money equal to the
best in the world. 1t is committed to the
policy of opening the mills to American
muscle rather than the mints to the
worlds silver. 1t promises to improve
the condition of the wage Garner by Civ
ing him work Mt American wages, and
in no other way can his condition be i'm
nrovp1