The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-10-31


| gold basis. wages rose. excepting one
| year, steadily. when the governor says
| that toward 1850 there was a slight rise I'm
/ wages above the point they had recently
fallen TO. but that they never reached the
| point they had occupied before. and that
| soon thereafter decline set In which con-
| tInued he says what rs not true.
II have studied that senate report too
/ perhaps more thoroughly and candidly
than he has. and may refer him TO page IA.
/ giving relative wages on the gold basis.
| Had he candidly examined that he would
have found that. according 10 the ratio
| adopted In that report. wages, calculated
| on the simple average, were 1873 In 1873;
they were 1877 In 1883. and 1907 In 1891. and
| calculated on the average according to the
Importance OF labor. they were 1913 In 1873.
1892 I'm 1883. and les. o In 1891. Thus the gov
ernor's statement that wages have con-
tinuously declined since 1880 IS simply I'M
true. IL Is one OF those untruths with
which the silver apostles seek 10 deceive
the people In general and the workingman
IN particular They Will soon become aware
that the workingmen are not silly enough
10 DO caught with such chaff.
Altgclds winfuI DecsptIons.
1.-THE governor Joins tho silver apostles
In their effort 10 Brighten innocent people
into the belief that we must all go to tho
bottom under tho gold standard because
gold Is scarce In the world. Desparingly
he cries out: Can we reasonably hope for
any prosperity In the future? Talk about
maintaining this gold standard and pay
| ing these vast sums In gold Why there
| Is not enough gold In the world TO pay
fractional part OF the Interest Of our debt
in gold.
"Can there be n more unblushlng attempt
to deceive the people? According 20 silver
| authorities, thcro are s,000,O0O,C00 gold
money in the world. These 81 600. 600 eco con-
st.tute only a par.-and perhaps not the
| ~ .F all 4 I'D
But let US take in Wow only the $4,000. 100000.
II would require gold Indebtedness on our
part Of $4,000, 900 to require Si.00CC0.0o0
/ gold as annual interest at the rate Of i've
per cent. But inasmuch as the government
| says that those $4,000 O0O, OC0 would not suf-
flee TO pay even fraction OF the gold in
torest we owe. Il Is no more than fair 20
double that amount and say that q pre-
| supposes gold Indebtedness. including all
| tho Indebtedness OF the United States. OF
| the several states, OF the municipalities. OF
the railroads, and OF the Industrial CORPORA
tons. OF slCO ZOO. 600 000-more than 5000 10
every man, woman and child "a tho United
states. Does the government think the
| American people idiots to be frightened by
such bugahoos?
but more: DO we not all know that all
the gold interest on all the gold indebted
ness. not only OF this country, but Of the
whole world--of Great Britain. Germany.
France, Austria, Italy, and all the other
states OF tho world-has actually been paid
for an Indefinite number OF years SENT
annually. on that stock OF gold? DO VIC
not all know that Il can be DONE because
IL has been done. and IL continually being
done? Gov. Altgelds language would lead
us TO suppose that whenever II was done
tho last gold dollar IN tho world had TO he
hunted DIP I'm fits hiding place and the whole
amount OF the interest had TO be scraped
together I'm gold coin for the purpose OF
hnfr II ali ftsYs
hhose 20 whom 1t was due and that thon
necessarily the whole world would be
thrown into the spasms OF n money FAM
Inc. Is the governor I'm his senses? Does
he not know that this interest Is simply
paid as other commercial transactions arc
arranged. only very small percentage OF
II in passing money from hand TO hand. and
the rest by tho exchange OF commodities
and credits. bills or exchange. checks, bank
accounts and the like? There s. the gov
crnor's frightful bugbear, vanishing In
daylight, again one OF those audacious de-
ceptions by which the people are 10 be
stampeded into tho support OF ruinous
financial policy.
Al;Eeld and Bryan Disagree.
I'VE must. however give credit 10 Gov.
Altgeld for not believing I'm the democratic
| platform, nor in Mr. Bryan's teachings,
that the free coinage OF silver in the United
States alone viii bring on a financial mill
|
ish dream that the passage Of free coin
age law in the United States alone will
be equivalent 20 the introduction OF BIZ
motallsm-that LS the circulation OF gold
and silver money together at the ratio OF
| aixteen 20 one. This belief Is Mr.. Bryans
speciality, and / doubt whether any other
person in the United States INDUCES IN a.
1.-THE governor knows too well that there
IS not n country I'm the world that has free
coinage Of silver and at the same time has
gold in circulation. He knows too well
! that the immense difference between the
market value OF the silver metal in the
silver dollar and the gold metal in the gold
/, dollar Is so great as absolutely to preclude
the possibility OF uniting the two metals
upon the basis OF the present ratio by the
action OF one country alone, and that free
coinage In the United States means simply
, silver monometallism.
, when he argues for bimetallism Il is In
ternational bimetallism he evidently
means, with the aid and consent OF the
other great commercial nations OF thu
Avorld, which the Bryan platform so super
: ciliously rejects. lie tells us that the ques-
ton IA not a local one that II Is not the
question OF money In the United States, but
, | that Il is the worlds money-the money
! circulating I'm all countries together whicf
determines prices for the world-of course
the United States included-and which ac
! cording to his theory, can make Us all pros
porous and happy
/. Can anything be more foolish than THU
Z incessant talk about tho pnralyzinE enec
OF the gold standard I'm tho face OF history
why. tho population OF Chicago was 2S9,
r 600 I'm 1873. IL Is now 100000. More thar
four-nfths OF what Chicago IS to-day hai
1 been built up under the gold standard
! rhepopulation OF Illinois has nearly doubled
! | under the gold standard The UniteS
3 States had CS,GO0 miles OF railroad In 1913
4 the railroad mileage has risen 20 low
under the gold standard. The population
@ OF the United States has grown from 81,
{ 557,0O In 1870 20 more than 1O,Ooo,oOO unde
4 the gold standard. The wealth OF the natloi
/ has grown from $4,000, 100000 In 1870 70 soo'
1 600. OOO. 600 In 1890. and by this time doubtless
4 10 moro than $50, 900 COO under the gol'
: standard
: And now TO talk as II the gold standard
as an lntolcrable burden had laid the Amer
lean people fiat on their hacks gasprl
; for breath and vainly struggling for mone'
"a | enough to mako a living and TO buy thei