The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1896-10-03
SILVER NJ WAGES.
honbed of All Flapdoodle, How Would
Free Coinage Affect Labor?

Robbed of All Flapdoodle, How Would
Free Coinage Affect Labor?
VIII tho reconciliation of silver help
or hurt labor? That depends on whether
1t will promote or hinder production.
If the reconciliation of silver Will pro-
mote production, it will benefit labor.
On the contrary, if it will impede or
lessen production, it will injure labor,
for in the final analysis the wages of
labor are the share which labor gets of
what is produced.
If 70, 900, 900 people produce but S14,-
900, 600, 900 worth of products in a year,
that weuld give to each, if evenly di.
vided, 5000 worth and no more, and if
some got more others would get less. If,
however, the same population produced
S21, 600, 600, 900 worth of products, each
would have $500 worth. That is, any
people a divide what they produce,
and they a divide no more unless one
takes from another what he had before.
1t is clear, then, that the more we
produce the more all can have, and as
wages in the end are the laborer's share
of what is produced his real wages will
increase as production increases. The
vital question then is, Will the remone-
tization of silver, by promoting indus
trial enterprise, increase production?
There are hardly two sides to this ques-
ton. That the reconciliation Of silver
Will increase money supply 10 one will
deny. That the increase of money sup
ply will stop the fall of prices, and if
the supply be sufficient will raise prices,
no economist will dispute. With stable
prices, well directed industrial enter
prise is safe; with rising prices, all in
dustries are stimulated. Hume, the his
torian, said years ago: 1--WE find that
in every kingdom into which money be-
gins to flow in greater abundance than
formerly everything takes a new face.
Labor and industry gain life, the mer-
chant becomes more enterprising, the
manufacturer more diligent and skill
full, and v e the farmer follows his
pillow with greater alacrity and atten-
ton" This has often been quoted as
not only Il of the accepted facts of his
tory, but of the truths of economic
science.
Seventy millions of people, with the
best educated brains of any people in the
world and with hands skilled to the use
OF the most intricate machinery, making
a greater use of the powers of steam and
electricity than any other people, ought
to produce at least $500 per capita per
annum. But it is doubtful if we have
produced 5000 per capita the last year
Or in any recent year. Prices have been
falling, money rising, enterprise has
been put in constant peril and produc-
tion greatly retarded. With money sup
ply sufficient to sustain prices and sup
port productive enterprise the produc-
ton of wealth would undoubtedly be
largely increased. There would then be
more for all and more for each.
Under such conditions would the la
borer get a proportionally larger share?
Why not? He certainly would be enti-
tied to it. How would he get it? In two
ways. First, by increased earnings.
Earnings are wages multiplied by time.
If a man gets SO a day, but works only
n day in a week, he earns but So a
week. If another man gets 81 a day and
works three days in a week, he also
earns but So. which would be earned
also by one getting but so cents a day
if he worked six days in the week. If
the first two had steady work, without
any increase in wages, their earnings
would be largely increased.
The first effect OF a revival of indus
tries would be fuller employment of la
Dor and consequently larger earnings.
Second, wages would also increase
with increased production.
John Bright summarized in a few
words the labor question when he said
it made all the difference in the world
whether two men were after one job or
two jobs after one man. As long as large
numbers of idle men are hunting places
there is little hope of better wages for
any II One is fortunate indeed if he
can keep the place he has. Moreover, if
prices of the products of labor continue
to go down, the wages of labor must go
down also. Profits may go first, but
wages must yield sooner or later. Com
binations may resist inroads upon wages
" @ tILACS Ouu OahllO oO 81 lOHSs Iul
ger and larger numbers will be forced
into idleness, and idle men are not only
dangerous competitors, but while idle
they cannot buy what others produce.
In order to be able to buy one must
have something to sell-labor Or it's
products. II a man earns but so cents a
day, he cannot buy what another pro-
duces at So a day. He can only buy a
fourth part of it. 1t is doubtful if, at
present prices of farm products. the en-
tire agricultural classes, 600, 900 fam
ilies-earn, on the average, more than
80 cents a day for each laborer. They
can, then, only buy at that rate. That is
the chief reason just now why other in
dustries are SO Frustrated. Farmers get
80 little for what they produce they
cannot buy what others produce. Hence,
for a part to get good wages all must be
employed.-A. J. Warner.