The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1896-09-24
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rHG woRxlNoMAN's DOLLAR.
4 Letter From Andrew Carnegie - TAas
(yroa ths American Manufacturer and iron
M World.l.
In reply ts your request that should
say Q few words to workingmen upon
the silver question, permit me to state
that the question, as far a. concerns
workingmen and all others receiving
salaries, lies in q nutshell
First. To-day they are paid In dol.
lars as good as gold, worth 100 oents
everywhere, These gold dollars. being
worth nearly two silver dollars Of the
silver standard countries, buy two dol.
lars worth of the tea. coffee. etc.. used
by workingmen. This is the reason
that these articles are now go cheap in
gold.
Secondly. The present dollars paid
workingmen, being gold dollars, buy
full gold dollars worth Of any article in
all countries which are gold standard
countries.
Therefore, IL American workingmen
are paid in silver. the cost Of everything
they use from silver. bearing countries
will be nearly double. This includes
tea, coffee, sugar, spices, etc.
Thirdly. The cost Of articles pur-
chased by his gold dollars from gold.
using countries will also be doubled, as
the silver dollar containing about 80
cents worth Of silver, will be taken by
the gold.using countries only as its
value in silver. Today our dollars are
kolr - A. Al
lar buys in Brazil IS cents worth Of
worth Of anything; but the American
coffee in Brazil and 100 cents worth of
anything in London. No silver advo.
cate can dispute these facts.
II free silver coinage comes, which
Mr.. Bryan desires, the wages Of the
workingman will be thus nearly cut in
half. The question he has to consider
10: Will wages under silver nearly
double? If not, he Is q loser by silver.
answer, Mol Here is the fact upon
that subject
Wages in silver using countries have
not advanced as the value of silver has
fallen. The workingmen in Mexico,
Brazil. China, Japan and India get just
the same amount Of silver. which is
now worth 81 cents on the dollar, as
they did when silver was worth 100
cents on the dollar These wages
range from 10 to 20 cents per day in
silver dollars worth only about one half
the American gold dollars.
Now, the workingman who desires
his revenue to be reduced nearly one.
half should vote for Mr.. Bryan the
workingman who does not wish this
will make great mistake If he votes so.
It may be asked why employers are
not in favor of debased money, when
they could pay their workingmen in 1t
and thus save about one-half the cost of
labor. The reason is that employers
has always resulted in disaster to bust.
ness. It shakes confidence, and bust.
ness is based upon confidence. Employ.
ers are never prosperous unless the
workingmen are prosperous. It is when
labor commands the highest wages that
profits are highest. When labor can be
obtained at very low rates, because
many men are idle. the employer makes
no profit. He always loses.
I should like workmen to look around
and consider the situation. We read of
millions Of spindles standing idle in the
textile factories, of the iron mines
closed around Lake Superior. Of the fur.
naces blown out and almost every manu-.
featuring concern in the country run.
ming with reduced forces. There Is only
one reason for this paralysis in business.
and that is the threat of reckless, igno.
rant men to lower the standard Of
money.
The day that the republic decisively
declares that its standard Of value will
remain what it has been for so many
years-gold-wills see the return Of gen.
uine prosperity. Until that day comes
we have nothing to look for but such
depression as now prevails, and even
worse.
The question is to be decided by the
workingmen and those who receive sal.
aries. If they vote for gold, they vote
for prosperity if they vote for silver,
they will have themselves to blame for
reducing the value of wages and for the
hard times certain to follow.
This is question above party, and In
this contest I am neither Republican
nor Democrat, but shall vote and work
for the maintenance Of our gold stand.
ard as patriotic duty. Labor in the
republic shall never be reduced to the
level Of China and Japan by any vote Of
mine. ANDREW CARNEGIE.