The times. (Owosso, Mich.) 1882-1897, 1896-08-14

they might come 20 the rescue Of the poor
manufacturer of steel rails, whose product be-
gan to be made here in commercial quantities
In 1867, at which time ii commanded 500 ton,
but in 1894 had fallen to S24 ton. This would
enable the railway companies to find some JUS
w OF ono cent PER ton per mile in 1891 1.-THE
lowest rate in the worldl to 2 cents per ton per
nile ,S1b tho good old rates" that prevailed in
look the steamboat men, who. though they now
haul wheat by lake and canal from Chicago to
D the
buS1el in 1873.
Here is revealed. Mr.. Chairman, the delu-
ages" 1t fails to discriminate the individual
facts that go To make up the average.
The Increase In Wages.
There is another serious omission in my col
leagues allegations of fact. There is one COM
modify which stands out by itself SO pre-emi-
nent that even his disdain OF details should not
have ignored IL, commodity which Is the
truest and best measure of value ever discov-
cred, surprising in this respect wheat or cot
ton, iron or copper, silver or gold, and that is
q given unit of human labor. And my col
league was somehow blind to the fact. though
IL Is exhibited in one Of the tables to which he
referred, that the wages OF labor have been on
tho average largely increased in the last third
OF century, the increase from the old "bi.
metallic" wages of 1860 to those of 1890 being
% per cent in money and az per cent in pur-
chasing power.
In 1917 n day work or Sklllod labor would
buy more of any staple commodity Of human
desire, more and better food, more and better
clothing, more and better transportation more
and better tools and machinery, more and bet
ter heat and light, more comforts and luxuries
of every kind, more silver and moro gold than
at any time before 1873 in the history of tho
world.
Any honest and intelligent man who has tho
time to study In detail any reliable table of
prices covering the last 90 years will find that
the prices Of those things In tho production of
which anything like the same amount of labor
must be expended have held their own or have
increased, while things, and these are very
ing inventions and machinery have been intro
duced have greatly fallen in price This ac-
counts for the fall in ''average prices" about
which so much has been said.
Mr.: Hopkins-Your argument, then, Is that
the things which ought to have been reduced
in price since 1878 have been reduced. while
the things that ought TO have increased in
Mr. McCleary of Minnesota-My friend from
illinois has, with his usual clearness stated
The lower prices result. from the reduced
cost of production. There is not the slightest
baae sne 20 % n
sure proof Is that the reduction of cost of pro-
duction has been accompanied by an increase
In the wages OF the producer.
The Cause and Result of Lower Prices.
The great staples of the world are cheaper
because it takes less human labor to produce
them. "Every new railroad and steamboat
every labor saving machine and improved proc
ess of manufacture increases the grasp which
labor holds on the desirable things Of the
world"
And thus we see, Mr.. Chairman that the
great fall in prices of manufactured articles
during the last third of a century has been in
the main perfectly legitimate and that it's ul-
innate result will be most benefcent. Taken
In connection with the rise in wages, it meas
ures man s vastly increased command over the
forces of nature
These wonderful results have come as the
benefcent fruitage of mans inventive genius
in devising labor saving machinery, of the
marvellous new forces which men are harness
ing for the service of the human family, of the
for transportation and of the stoppage of the
tremendous and cruel waste of war.
What will days work produce? This is the
true test of progress. AS prices decline COM
pared with the reward OF human labor the
condition Of the people is elevated. This is o
process of natural law and phase of evolu
ton. Men struggle against 1t only because
they do not understand 1t. Like all move
ments onward, 1t brings temporary hardship
to individuals here and there. But for the vast
mass of humanity 1t Is bringing emancipation
from want and the promise of that golden flu
ture when q minimum of time will be required
to provide for the necessities that are simply
physical and temporal, thus leaving time and
opportunity for the cultivation of those ele-
ments in our nature that are spiritual and
eternal.
PRODUCTION OF GOLD AND SILVER IN THE
WORLD SINCE THE DISCOVERY OF AMERICA.
From 1893 to 1885 is from table of averages
compiled by DR.. Adolph Soetbeer. For the
years 1886 to 1894 the production is tho annual
estimate of the bureau of the mint.l