The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-09-25
WHY FREE COINAGE WOULD RE
nuCE WAGES,

To tho halfway AEN--
| am opposed to "Hryanism' for tho
reason that wc should abhor national
dishonor as much aA individual dis
honor. II II man loans me- a horse for
two years. | expect 10 give him back
II horse as good as | received from
him II | don't. l simply cheat him out
Of the difference between the value Of
the horse received and the one re-
turned.
Twenty-Five years ago my father
paid SO. the market value then. Tor
II pair Of boots Those were prosperous
times. but the prosperity ~ that time
was not due 10 the fact that Nc were
Obliged TO pay nve times as much for
boots a. We can now purchase them
Tor. How utterly ridiculous Il would
hc Tor me- TO nov demand one pair o.
boots Tor SIS when I know the market
Is overloaded with boots which J can
purchase at 81 per pair II my labor
Is worth per month two pounds ~ sill
yer. how foolish II would be In me 10
Insist on being paid only one pound Tor
my services Yet a large proportion "
the American people have by dcma.
gogucs. self. lntcrrstcd. uniformed and
dcludcd politicians. become no brtud-
died and bcwildcrrd with the promise
OF "i6 to l." "frrc silver and dollars
% our daddlyu" that they are willing
TO vote to be- paid In something "
half the value OF their labor or pro-
duct. In preference to money u The full
value Of their labor or product.
My occupation Ia that ~ railroad en-.
ployr. my politics arr Democratic. but
the silver issue now before the people
Is strictly a matter OF business. q
matter ~ dollars and cents In salaries
TO employees. and of interest on capital
Invested 70 stockholders.
a railroads income ~ It's receipts
from hauling freight and passengers
Its expenditures are for material and
labor. taxes and interest. what re-
mains after this Is pad land very
often nothing remalns). IL the rcmu-
%ncratlon of stockholders for the use OF
their capital, a considerable amount
Of n railroads materials are imported.
or are affected by the price Of imports.
and n very large proportion OF rail.
road Indebtedness In the United States
Is to foreign bondholdcrs.
All Of n railroads receipts. practical
ly, under the proposed 10 to T.
scheme, would be In silver dollars,
worth not to exceed 90 cents each. The
expenditures for imported materials,
and for interest and the principal OF
their Indebtedness would then be, as
Is now tho case. In gold or the value OF
gold, both OF their value being deter
mined by weight and not by what the
United States or any other nation may
stamp on the face Of the coins. a
standard United States silver dollar
would be weighed, and, II II came up
to the ratio OF l6 to l, credit would be
given the railroad for 90 cents Interest
or It's Indebtedness. As the railroad
had credited the shipper or the passen-
ger 81 when It received this silver dol
lar. but could In Europe obtain credit
for only 90 cents for the same piece
OF money, we clearly see that this dol
lar transaction has proved a loss to
the railroad company OF Is cents.
Railroad corporations, like all other
corporations and individuals engaged
In business. will not and cannot long
continue in a losing enterprise. The
reduction in the debt-paylng power Of
its receipts must be met by a proper
tlonate reduction In It's expenditures, or
by an Increase In it's receipts equal to
the depreciation in the medium with
which II Is Obliged to pay It's debts.
one or the other IL inevitable.
If shippers (Which means consumers)
and passengers are willing to pay 81
for 55 cents worth OF value received
from railroads, and II railroad employees
are willing to accept IS cents for 81
worth Of labor, they should heartily
indorse "Bryanlsm;" II not, they should
as heartily and vigorously oppose It,
for the free and unlimited coinage of
silver at l6 to l cannot possibly have
any other effect than to produce q
national panic, in which every Industry
but silver mining must enormously suf-
fer. X. p. ALEXANDER.
lNote.-The writer OF the above is
foreman Of the roundhouse Of the st.
Louis and San Francisco rallwny.l