The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-04-21
CARLISLE'S ADDRESS TO THE
woRHINGMEN.

II we are to Judge by the space de-
voted to It by all the leading papers in
Chicago, the most important event hat
has happened in that great city in recent
months was Secretary Carlisle's address
to the workingmen. In the Auditorium,
last Wednesday night
Says one Of these papers:
The audience was made up largely OF
of those whom he came here for the
special purpose Of a~ddressing-the people
who work for wages. who have been
deluged with the oratory OF cheap money
advocates. and who have had but few
opportunities to heal the honest side OF
the money question clearly stated TO them
by a public man OF high standing and
UNREASONABLE ability on fiscal subjects.
Whatever may lave been the previous
sentiments Of those worAngmen who
were fortunate enough TO hear Mr.. Car
Isle, when they left the Auditorium they
were convinced that 5-cent dollars were
not the dollars for them, and that to
vote to be paid in that sort OF money
would be to cut their own throats,'
The same conclusion viii inevitably be
reached by any wage-worker who viii
take the trouble to get and read the
logical argument. backed by ineontro-
vertble facts, OF the secretary OF the
treasury.
Mr.. Carlisle began with the assertion.
the correctness OF which cannot be sue
eessfully challenged, that financial and
Industrial disturbances and panics affect
woFhngmen more seriously and injuri-
o1sly than any other class Of men La
Dor can prosper only when vases are
paid In sound. Io-eent money: FOR when
the currency ~suetnates In value and be-
comes de6ased there is diminished EN-
ployment. and those who do get work
are paid in money which has an uneer-
tain purchasing power and less value,
and IL affects them the same as a reduc-
ton Of wages So 1t becomes a Ques-
ton Of vital importance to all classes
working for wages whether free silver
coinage on the Is TO l basis would or
would not cause financial and Industrial
disturbances and panic. How can con-
gress change the money standard down
TO dollars intrinsically worth 20 cents
each without creating a terrible disturb
ance in the labor market? 1t is i'm
possible.
After describing the unsuccessful at
tempts which had been made in this
country to keep both gold and silver
dollars in circulation when there was an
intrinsic difference OF value OF little more
than a cent between Them, he showed
the impossibility Of keeping both in cir
culation when silver dollars were worth
intrinsically only half what the gold dol
lars were. The effect would be the i'm
mediate expulsion Of more than half a
billion of gold and the %shrinkage in value
one half Of AlS.oO,0O of legal tender sill
yer. and Sls.VOO,Oo) OF ~greenbacks, and
S29O, G0a,OO OF national bank notes.
This would reduce the currency more
than two-thirds in its power to do busl-
ness and hire labor, and what was left
would be deprecated and fiuctuating in
value.
I'VE should descend by Z single step
from the sound standard Of value to sill
yer monometalllsm, with a contracted
and at the same time a deprecated, de-
based currency, a financial experiment
which has no good precedent in the
monetary history Of the world" said the
secretary.
That experiment would be followed by
a universal panic which would PROSTATE
industry. and discharge labor, and cut
that distressed period there would be
little employment for workmen. But
when industry did revive wages would
be paid in an unstable and deprecated
currency worth but 20 cents IN the dollar.
Then Mr.. Carlisle told his hearers
giving them an abundance Of figures TO
back up his statement-how 'sages never
fell as rapidly or as low as during the
deprecated money war period. Prices
advanced far more rapidly than wages,
so that the w%orkingman was continually
getting less and less for his labor.
Drawing his illustrations from the
events Of today, the secretary told how
the fall in the value Of silver attend
ing free coinage at 16 to / had forced
down the reward of labor in Chile, Japan,
Mexico, and other free coinage silver
monometallic countries, and all 16 to ]
countries are silver monometallic, with
gold expelled from circulation. In the
frst-named country labor gets wages Of
only about half the value Of what it
did twenty years ago, though nomlnally
it gets a little more. But the wages are
now paid in cheap silver. Said the sec
~retary-and every workingman should
keep tina point in mind:
you are asked by the advocates Of 10
to l free coinage TO join them in destroy
ing one-half the purchasing power of the
money in which you are paid, and I'm
pose on yourself the task Of doubling the
nominal amount Of your wages hereafter;
that is, to struggle for another quarter
Of a century, and perhaps longer 10
raise your wages in a depreciat,d cur
rency TO a point which will enable you
to purchase with them as much VI the
necessaries Of life as you can purchase