The times. [volume] (Richmond, Va.) 1890-1903, 1896-04-16

have had a like financial experience, 'ue
ooraeouences OF cheap money have weigh
"a most heavily upon the classes tiia' 20 %
least able TO support the burden ~"
wills of silver monometallism anu -,
,,rociated currency finally oecaiho .,
erable in that country, anu and very
produces considerable sit'S' tod the
little gold, 1t has recently rly, every
.,oI1 standard of value. In nedI,S oo,5
s s,',,,r,- 90 tho world having the BIZ
s,o,dayd ~ value the wages OF iauo' -,
Increased materially during the ia 80 tho
,y-,ive wears. and. at the same ,,hich
,,,,rchasInp mower of the money ~ chile
,,,ges are paid has increased a''o, lard
g., The countries having the SILVER 81. 70
III 'i,o .,.a,,cs have been actuaiy ~
'S,,.,I b,, tho depreciation or the Gu,
18th an extent that the laporei "
much worse condition thau ne NV
tho beginning OF that perlou' f.-.,o,,.
far the most progressive anu P'os,,s GA
co,Intr-y in the East, COINS JUN Ito
silver at THE ratio or DID 10 = -
,.i,,oh greatly overypIues oliver. anu
90 the government does not Maintain .',e
., ., tho two metals. the currency -
P"' - 1c.,roci,ted SILVER basis. wages al
ia I'm silver, OF course, because .,'e
iahor,nr men and women always se' .He
"t,.,,est money In circulation ana 80
,,a,orallv nav the highest prices lor VI.
a,,icIes they buy, for the reason tno,
,,,air nurcha.ses are usually made IN sr,Iai'
quantities at ti'He' -
iananese SILVER yen Is worth Ht''e rs
than 30 cents in our money, and whel' .ns
wages of Floor. paid In THIS deprecia.eu
coin. are reduced TO our standard OF value
- annear so insignificant that II Is dit-
fcrlt to understand how the people VINO
receive the miserable pittance can I'VE
and maintain their families. The a'erase
daily earnings Of a brcklayer amount 10
81 cents; biacksmiths, carpenters ana
cabinet-makers receive 30 cents compost
TORS in printing offices. p cents press
men. % cents: roofers. 90 cents; stone-cut-
ters. 36 cents: ordinary tailors. 2S cents;
weavers. Is cents. and in all the long list
OF occupations and wages no laborer. how
ever skilled, can be found who receives
more than 40 cents per day except por-
celain artists In the great city or foko-
kama. who get ~ cents. Factory laborers
even I'm that city where most OF the great
Industries are caTried on by American or
EuroRnn canra Fists. i-ecetve q cents
per day. and in other parts OF the country
they receive less.
MEXICO'S EXPERIENCE.
Our neiefnboring Republic of Mexico.
with a constitutional government very
similar 10 our own. with an area or 49,
900 square miles and a population or only
about 100000 with almost marvellous
natural resources awaiting development.
and Offering "A most inviting field for the
Investment OF capital and the employ
ment Of labor. has the silver standard
OF value gold not being in use. and IL
cheap money IS a blessing TO the laboring
man he ought to be prosperous and happy
In that country The Mexican dollar
contains Bill grains of pure silver, or
nearly grains more than is contained in
our dollar. and yet not being sustained by
a monetary system which keeps It at a
parity with gold II is worth only about 50
cents in our money. Wages are paid in
silver and are very low in comparison with
the wages paid in this country for the
same services, in many instances not being
half as much. while the prices Of commo-
dities generally are much higher than
they are here. The prices Of imported
articles especially are exorbftantly high
in Mexico. because they have 10 be paid
for abroad in gold and the depreciation
of their money is 80 great thar II requires
nearly two dollars in silver 10 pay one in
gold Although our owl. silver dollar
contains less fine silver than the Mexican
dollar, one OF ours IS nearly equal in ex-
changrable value 70 two Of theirs, be-
cause here the coinage IS limited and the
Government issues the coins on its own
accour and has pledged its faith and
credit 70 keep them as good as gold a
pledge that has been faithfully kept up
10 this time. notwithstanding the com
atlantis and denunciations Of our free
coinage opponents Under tiii5 policy
the dollar paid TO the laboring man for
his wages is Just as good AMI Will pur-
chase fust as much in the markets as the
dollar paid 20 the bondholders. or TO any
other class OF creditors; but II We are 70
have free and unlimited coinage OF legal
tender silver for the benefit Of the owners
of the bullion. the Govern
nent and the people AZ large
would have no interest whatever
I'm the coins. and It would BE- grossly I'M
Just 10 require the Government to keep
them equal in exchangeable value 10 gold
The dollars-as rapidly as coined. would be
delivered 10 the owners Of the bullion free
of charge, and the Government would
have no legal or moral right TO tax all
the people % tho country in order 10 pro-
cure gold with which 70 redeem these pri-
vate COINS. me value Of our dollar would
therefore. be no greater than the intrinsic
or commercial value Of the silver contain
ed in II, and its purchasing power IN the
markets would be diminished about one.
halr: but the wages OF labor would remain
for n long time, at least substantially at
the present rates. or If they should b.
nominally increased on account Of the
depreciation Of the currency. experience
In the past shows that they would not
increase in proportion 10 the Increase IN
the prices Of commodities. Rises in the
rates Of wages take pace very slowly
while the prices OF commodities move
rapidly. at some periods changing seve-
raj times In the course Of a single day
and these movements are always NOR,
frequent and more harmful when the
currency Is in an unsettled condition.
THE LABORER's RIGHT.
You have doubtless observed recently
what appears to be quite formidable
demonstration in favor OF the free coin
age OF silver by certain large manufac
turing interests in the eastern part Of
| the country, upon the ground that II W,
continue TO maintain our present stand
| ard OF value the silver standard coun
| tries, especially India, China, and Japan
| will soon be able to undersell them i
| the markets of the world. Reduced 4
| its simplest form, the proposition OF thes'
| gentlemen is that the manufacturers o
| certain kinds of goods in this countr,
cannot continue 20 pay their laOoreri
| high wages In gold. or dts equivalent, am
| compete successfully In the market
! abroad with the manufacturers or sim
| liar goods in silver standard countries
| vino nav their iaborers low wages IN de
| nreciated silver, and. therefore. the
| INSIST that a monetary system shall b