The Van Buren press. [volume] (Van Buren, Ark.) 1859-1914, 1896-10-24
JONES on FINANCE
Chairman # the National Democratic
Committee Discusses fhe Aeney
Question.

The following article from the pen
Of Chairman Jas. I. Jones appears in
the Cleveland Press:
While the advocates Of the gold
standard pretend 70 deplore every s1g-
gestion that has the slightest tendency
70 array class against class. their stock
arguments are literally nothing else.
Almost every contention on the gold
side OF this issue i either play upon
prejudice or passionate appeal 70 the
selfish insticfs of particular classes.
Creditors In general. savings bank
deposifors. holder. Of insurance policies.
pensioners AMI those workingTnea who
happen 70 b now employed and draw
ing regular wages. are franflcally
besougzt 70 protect themselves against
the Vaccinations Of the scheming silver
miners Of the Rocky mountains and
the sunprincipied. = .swindiing.
Jaw working farmers Of the South
and West. What i worse. these
appeals are. in the great majority Of
cases. false and deceptive in character.
being simply intended 70 obscare the
issue and mislead the very classes 70
which they are addressed.
i few great creditors are actually
i A-a4zzAEL14EE u a.
gold standard. because under II money
which they have loaned ! constantly
rising IN valae. But many ether large
creditors. all the smaller ones. the
holders q insurance Policies and NEARLY
all q the pensioners have other interests
Of much greater importance than the
ones 70 which their minds are thns
| directed
zoxEY VERSUS PROPERTY.
In business money i the counter
balance of everything that / bought and
sold When money rises In val1e fhe
other tainzs necessarily fall
As the other forms Of property exceed
the money In amount perhaps > q -
fold. il follows that every gain which !
comes from Al appreciation af money !
involves : loss Of = CT = tiurs = much !
By the depreciation Q. other property.
The more muneT appreciates the !
harder II i for the holder Ct Il
insurance policy . pay the premiums !
and keep fAe poliey alive TIE higher ]
money rises the lower the pensioner : |
farm. Z he has ole. sinks II value. and /
the more difncaiz i : FIR him % find /
remnnera-ive employment Tie greater i
fhe enhancement Of the TxlEe Of money. i
the more likely tie savings bark /
deposition Is 10 find the nil q mine OF
the shop In which h labors closed. and /
be b obliged - eCcro4eh up1n OF
perhaps exhaust his little savings IN /
order . i've TIE interests Of al these /
classes are bound mp Il the general
welfare Ct country. and. except IN rare
cases. they cannot prosper with the
nation II distress
TEE WAGE FARMER
But the noss delasiTe and ii founded
Of al their special pleas : that addressed /
% the wage Garner. The man who /
works for wages ! tod TIA. under free /
coinage the dollar viii = once shrink 70
50 cents. and that he viii get 10 more
gets Q. 100 cent dollars : This : t
followed BY the claim thai the mills and /
factories vii b forced % elose their
doors. throwing vast numbers Of work
ingnen ont Of employment and leaving /
them with no wages n al. There are
50 many contradictions and abs1n1ifies /
involved In this special plezaing that to /
point cut al Of them. with even the /
briefesf comment, would exceed the 1
space al NY disposal / feel con-
tA4 1-A4C-F 40FCsC&. ~
FALSE ASSUMPTIONS.
Il assumes that the opening Of the 4
American minis 10 silver, thereby /
enormously increasing the demand for
II for money use. wall add nothing 70 4
It's value. completely ignoring the great
law Of supply and demand.
Ii assumes that an ounce Of silver in
the form Of money. invested with full 4
legal tender functions. viii BE- worth /
no more than an ounce Of crude silver
DOW is as mere commodity, for which /
there Is but limited demand, although /
al the same time II Is strenuously 1
insisted that free coinage will greatly 1
enrich the silver miner by increasing
the value Of his product.
II assumes that the wage Garner viii l
De ruined BY being compelled to paw
higher prices for what he buys, while
the manufacturers and other producers
are also going 70 be ruined BY getting
higher prices for what they sell
Ii Is assumed, nav, il is positively
declared, that the best dollar for the
workngnAn Is that which will buy the
most In other words, the cheaper
things are the better il Is for the wage
Garner
TEE FATAL Up"
If the workingnan held his position
by = life tenure and his pay we're
imuutzbly fired, the latter would
Be true. But these conditions do not
exist, and as q general rule they may
Be pronounced impossible conditions.
All wages are ultimately drawn from
the prices obtained for the products Of j
labor Those prices in the aggregate
constitute the fund 20 Be- divided
between capital and lspor, and wages
constitute the lsborer share Of the
fund A fall Of prices Tor chezV-ning} /
= IN eject destruction Of portion Of
the fund. This. according 70 the gold 4
advocate. Is an advantage 70 the
isborer. SO il would BE- II the employer
were able and willing % bear al the
loss Unfortunately, though. as 4
rule. he Is not willing to bear any Of il.
Whenever possible he shifts il 70 the
shoulders q the xorkmsu. This was
well exemplihed IN the events which
led 20 the Pullman strike Wages we're
cut. and the men were laid OF. but the
dividends were paid Just the sane.
And sueh i the almost invarishle rule
To tell the wage worker that falling
prices are al advantage 10 him. Is 70
insult his intelligence Il Is matter
Of common knowledge that for many
years prices have been steady falling. 4
and. while this i true, average con
dif1Ons among the working classes have
been getting steadily worse
Never within the century have things
- = 4 Z