The sun., 1896-08-09
New VIewa-SeiEInterrst would Put Capi
tai ON Silvcr's side. Labor on Gold'n


To THE EDITOR OF THE SUS-Sn: have read
in tho newspapers several letters written by
iaboring men giving their reasons for voting for
free silver. The dominant thought In tn,
minds of the writers seemed to be that the pres
ent contest between gold and silver was con.
test between capital and labor All the capital
!sts-GoldbuEs as they were pleased to call them
were in favor of gold, and the laboring people
were generally in favor of silver.
admit that this classification may have some
foundation IN truth. but do most empha;icaily
deny the conclusion to which they come that
the capitalists or gold men are work. ing for thu
own interests against the interest Of labor.
There never has been a contest, in the whole
history OF our country. when capitalists havo
manifested less OF selt-in,erest and more of
patriotism than In the one now carried on be-
tween gold and silvcr. They are generally
trong advocates OF gold, and yet the success OF
the silver party would give them every possible
advantage over the laboring men. Capitals 5
own or control the gold OF the country They
even own or control the silver. for the silver
III nes are in the hands OF syndicates
Consider the power which free silver act
would give to these capitalists. The syrd icates
owning the silver mines would have it in their
power to take the bullion OF their mines and
have 50 cents worth coined into n dollar. and
with these dollars they could pay of their help.
thus making AZ cents net profit on each dollar
No; only would silver syndicates have this po,y-
Grover labor; all p'tnlsts would have tile same
power. Banks and other moneyed corpDrHtlOus
could ship their gold to England and other for
eign countries and exchange 1t FOR sily or buii0n
winch. when coined. they could use To pay Iur
thetr lahor Mahuincturers. who are generally
capitalists, would have the same power over
10 the laboring people o. cur country realize
the almost unlimited power the passage OF n
iree-coiIaGe silver act would give to capital over
Ihbpr is there not among all the gold forces OF
tn" American nation some orator a man NO. a
boy" I'VE have had sophomore Lnrai,~ue. ion'r
enough whose eloGucncc can roll IN golden
mhNes from Maine to California. Oregon to
mistake they are mnklngy lion. ronrke Cock
ran Iet the note. OF your eloquent voice ring out
in clarion tones,
am conscious that the silver men arc using
me very argument that gold Is IN tho hands uf
,hpIuIsts IN playing upon tho sympatnics of
they know mn well the fallacy Of their nrrG.
iineht; sod !, no more in the hands OF capital
ISIS lhhh silver l. now and ever Will be.
The capital OF capitalists is money: ihe cnpitrl
capital they give in exchange for money with
which 10 purchase the neCe-Fares OF life. The
TrSH'Sf TSr recYo thr pgrcarins power Of the money
change. The shipment Of gold TO foreign cnun.
lrIcs in exchange for silver bullion and lis /
,Xrhanse for merchandise In foreign trade |
'ne country, while AT the same line, by Tho |
anne pr"Cess OF exchange. our country would be
.,''''' "I'h 0'i'cF' IL ~ universal law OF
' nle' NV hs !IeAoiAb!e hs the law OF grayiia-
ION. that decrease in supply means AN in.
rtase IN value. and an increase IN supply means
decrease in value. BY this ine1orabIe law
'oh would appreciate In value and silver would
As god must and will continue tn
'e the basis Of values with the great gold stand
ru powers OF earth, tho purchasing power OF
liVPr would decrease. and yet this. or paper
rhioh represents II, would be tile only money in
which American labor would be paid. Yes in
ne view the present contest is between cauitni
hi labor, but self-iEterest would place capital
anu n Gat NJ II
But the question Is not one Of set-in crest; IL
! broader and Rrauder. IT IL n question OF ma
ohAl prosperity and national honor.
NEW YORK, Aug. d. 'A'