The Yale expositor., 1896-09-18
BouRKE COCHRAN ON BRYAN.
The Eloquent Ex-Congressman Exposes
the Free silver Fraud.


the Free silver Fraud.
In his great speech in Madison
Square Garden, New York City, ex-Con.
gresham Bourke Cochran said in re-
ply to Presidential Candidate Bryan:
If everything in this world or in this
country, including labor, be increased
in value tomorrow in like proportion,
not one of us would be affected at all.
If that was Mr. Bryan's scheme, he
would never have a populist nominal
ton to give him Importance in the
eyes of this. community. If that were
all that he meant, he would not be
supporting it, and / would not be TAX
ing the trouble to oppose it. If every
thing in the world be increased 10 per
cent in value, why, we would pay 10
per cent in addition for what we would
buy and get 10 per cent more for what
we would sell.
What, then, is it? 1t is an increase
in the price of commodities and al
lowing labor to shift for itself. If the
price of commodities be increased and
the price of labor be left stationary,
that means a cutting down of the rate
of wages. If. instead of dollar which
consists of a given quantity of gold
equal to a hundred cents anywhere in
the world, with the purchasing power
of a hundred cents, the laborer is to
be paid in dollars worth so cents each,
he can only buy half as much with
days wages as he buys now. If the
value of this populistic scheme. then,
is to be tested, let the laboring men OF
this country ask Mr.. Bryan and his
populist friends a simple, common,
everyday question, Where do l come
inn"
Mr. Bryan himself has a glimmer-
ing idea of where the laborer will
come in. or, rather, of where he will
go out There is one paragraph in his
speech which-whether it was the re-
suit of an unconscious stumbling into
candor or whether 1t was a contribu-
ton made in the stress of logical dis
cussion | am utterly unable to say
that throws a food of light upon the
whole purpose underlying this popu-
list agitation. Wage earners, Mr.. Bry-
an says. know that while a gold stand
ard raises the purchasing power of the
dollar ii also makes 1t more difficult
to obtain possession of the dollar. They
know that employment is less perma-
nent, loss of work more probable and
unemployment less certain.
If that means anything, it means
that a cheap dollar would give him
more employment, more frequent en-
ployment, more work and a chance to
get unemployment after he was dis
charged. If that means anything in
the world to sane man, it means that
If the laborer is willing to have his
wages cut down he will get more work
If it were true that reduction in
the rate of wages would increase the
chance of employment, l would not
blame Mr. Bryan for telling the truth,
because, however unpalatable the truth
may be. | conceive it the duty of any
man who attempts to address his fell
low citizens never to shirk from a
statement OF the whole truth, what
ever may be the consequences to him
self. But, as a matter of fact, a dimi-
mutton in the rate of wages does not
increase the scope of employment.
There cannot be an abundant prod
uct unless labor is extensively en-
ployed. You cannot have high wages
unless there is an extensive produc-
ton in every department of industry,
and that is why / claim that wages
are the ore sole test of a country's con-
dition-that high wages mean abund-
ant protection, and abundance neces-
sarily meano prosperity. Mr.. Bryan,
on the other hand, would have you be-
lieve that prosperity is advanced by
cheapening the rate OF wages. but the
| fall in the rate OF wages always comes
from a narrow production, and narrow
production means there is little de-
mand for labor in tho market When.
after the panic of 1873, the price of
labor fell to 80 cents a day, it was
harder to obtain work than when the
rate of labor was 81, and the differ
cnce between the populist, who seeks
TO cut down the rate of wages, and the
democrat, who seeks to protect it, is
that the democrat believes that high
wages and prosperity are synonymous.
and the populist wants to cut the rate
of wages in order that he may tempt
the farmer to make war upon his own
vvorlyin pmaD