The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-09-14
SCUDDER ON SILVER
The Rev. Doctor Says Cheap
Money is a Wild
Delusion.
WOULD INJURE EVERY INDUSTRY
Workingmen Would Feel the Misery
Of Free Coinage More Than
Any Other Class.

A large congregation heard the REV.
John L. Scudder preach a rafting politi-
cal prelude to his regular sermon in the
Tabernacle last night. Mr.. Scudder's
subject was:-'Cheap money, a wild de-
lusion.'' Among other things he said
This is a peoples church and we have
always taken unfeigned interest IN the
welfare of the working classes. We be-
-lieve in the masses and advocate the
greatest good of the greatest number.
And this desire for the prosperity OF the
people leads me to deliver his series OF
an epidemic, is sweeping over the eoun-
try from Maine to California. Any one
who has mastered the science OF political
economy and understands the currency
question, will confess that the free and
unlimited coinage of silver. instead of
bringing the blessings promised by its
trial paralysis, vatiate existing contracts
and plunge the laboring classes into need
less misery. The principles of truth,
honesty and patriotism should lead every
lover OF mankind to speak out fearlessfy
on this momentous question, however un-
palatable his remarks may be to those
who use their lungs more than Their
brains. / affirm this doctrine of cheap
money to be a delusion. 1t holds out
false hopes, and those who believe in 1t
are deceived by a certain class OF poiltl-
ciaTs who are playing upon their Ignor-
ance and prejudice, and VINO very foolish
ly have made free silver the leading issue
in this campaign. This question must
be approached without bias and consid-
cred in the light of cold reason and COM
mon sense. The essence of this astonish-
ing craze consists In the belief that il
much money is coined, the people VIII
somehow or other obtain it more easily
But just how this IS to be accomplished
these over sanguine people are unable 70
explain Some seem to think they VII
get II by their much shouting, but l fail
to see who will be benefited except the
present owners of silver and such dishon-
est debtors as are nxiou to eyade their
obligations. The Government will not
be one dollar richer, nor will the people
at large. The Government will coin the
bullion and pass it over gratuitously TO
other will pay the expenses of
this unlinlsted coinage. Money, no doubt,
will be plenty, but 1t will be in the pock-
cts of the silver owners. many OF whom
mania which would enrich them at our
expense. j object to making foreigners
rich when at present our own people
need money so badly, or giving such an
class of Americans.
And when these mountains of silver
dollars are in the hands Of the wealthy
few, pray how are the masses to get
them2 viii the silver mine owners give
them away? There is only one way by
which the people viii ever get them, ana
that is by working for then.
And after the working classes get
them in exchange for their labor, they
will find themselves paid off in a de-
preciafed currency. An irredeemable sill
YER dollar is worth about s. cents, but
the poor mans silver dollar today is
worth 100 cents, as good as gold. /
think too much of working people to see
their dollars thus snutilated and inn
poverished.
Such a deprecated currency would in
jure every Industrious thrifty man who
has laid aside a few dollars for sickness
or old age. 1t would diminish his saw
ings, be they in the bank, building and
loan association, or hidden away in an
old stocking in the garnet The value
OF the dollar would fail about 50 per cent.
and that would be a terrible hardship to
every wage worker, whose dollar is now
worth 100 cents. He gets little enough
now; what he has must not depreciate
one penny.
sAnd the man who has saved nothing
win also feel the injustice OF this threat
ened curse, for every dollar he earns VIII
drop in value about As cents. / lain
on earth. for he has nothing in bank. If
he works for $I50 a day, he ought not to
be paid off in CON worth only about rs
cents. The working classes need a
goods not cheap money whose purchasing
power has been reduced by a false hnan-
cial system. I want all the workingmen
] can reach by voice or pen to think sera-
ously and without heat upon this most
serious question. Rashness here will
react with fearful power upon the work
ing classes. and I dislike to see them do
ing themselves irr~eparable injury by
thoughtlessly following those who knew
or ought to know better.
"The last people on earth to advocate
cheap money are worktngmen. for they
will feel its misery the most. If the
rich mans dollar shrinks he can endu
shrinkage for he has other dollars to
tide him over, but the poor mar canno
afford to lose one cent from his hard
earned dollar, and to lose a. GER s-why
It's madness itself"