The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-04-16
from the gold basis to the silver basis,

from the gold basis to the silver basis
mo peso was worth only about s4,s cent
| IN cur money. Let us see. now, what ef
feet this cheap money, or in other words
this system OF silver ir onometailism whicl
you you arc asked . to a.dop, here, had upo
minister at Santiago has very recent.
made an official Investigation and repor
upon TINS subject, which has not We
been published. from which It appear
mat In the Northern part " chill. whcr'
ahor has always been III greater. demam,
than elsewhere. on account of the grea
nitrate fields located In that section o
The Country. very little change took plac,
even In the nominal rates of wages, not
OF int the great ,S fan II the value
tinucd 70 receive In deprecated money
about osn the same amount they rcceiygt
peso. was worth Ss's ccn,s, mechanic
a boiler maker, IL Blacksmith. a carpenter
iiSman aud an ordinary iahorer re.
pHsos. or Sld.sI In our money: IN iSS5 the
/, same persons received for the same wcrl,
| soAi pesos, but owing to the depreciation
| Of the currency, this was equal to only
so.sS IN our money: and In lSo5, twenty
years after the country had descended to
= silver basis. the Same laborcrs received
vaino of the peso was less than So cents,
| and consequently their wages amounted
| To only sS,S IN our money. or Just about
| onc-half OF what they had received TWEEN
| In the central part OF the country the
result was substantially the same,
though not quite so injurious 10 the la
hercr. In lSN' n days wages for ave men.
"A mason. carpenter, II gas-iittcr "A paint
er ana an ordinary laborer. amounted
altogether 10 S6lj in our money, but in
s'.13, and ia iSeh saga In the southern
part OF the republic there WIS aomc in
erase In tho nominal amount of wages
paid between 1876 and iSSi on account OF
the fact that a lne of railway was then
being constructed through that region by
foreign capital. but since the latter date
IA" general average rate of wages has re-
NAMED substantially thc same although
paid IN a constantly dcprcciuting cur
r'ncN. ttir minister In Chili. after u
very careful examination of tho entire
situation In that country, says; at may
BY taken for granted that IN Chilt. as sp
AL other countries which have had II Hike
cheap money have weighed most heavily
upon the classes that nre least able TO
support tho burden" The evils OF silver
monomctallsn aud deprecated chr
country. and, although 1, produces con
siderable silver aud very little gold. II
has recently adopted the gold standard af
value. In nearly every country in the
world having the gold standard of value
the wages of labor have Increased ma
terially during the last twenty-five ycnra.
and. at the same time, the purchasing
power of The money IN which wages are
paid has increased also while in tho
countries having the silver standard of
value wages have been actually reduced
such an extent that tho laboror is tn a
much worse condition thnn he was at the
beginning of that period. Japan. 10y FAR
the most progressive and prosperous
country In tho East coins both gold aud
silver at the ratio of lGlS TO H. n ratio
which greatly ovcrvaluos silver, and. u.s.
the government does not maintain the
parity of the two metals. tho currency r.
on a deprecated silver basis Wages are
paid In silver, of course because the
lahuriug men and women always get the
cheapest money In circulation. and they
generally pay the highest prices for Tho
articles they buy for the reason that their
purchases are usually made In small
quantities nj a time The japanese silver
yen is worth little loss thun N cents In
our money, and when the wages of labor.
paid IN this deprecated coin. are reduced
that II is difficult to under |
stand how the people who receive the |
pittnncc can live and maintain |
their families. Tho average daily earn |
makers rcceivn 30 cents. composltors in
printing offices - cents. preasm"n. - |
cents. roofors, - cents. atonc-outtcrs 3G |
cents: ordinary ,aiiors. 2S cents wcnv- |
er1. II cents and all In all the
long lisi Of occupations and wnEcs
found who receives moro thnn % ce'nia per |
Day. except porcelain artists in the great
rity Of Yokohama, who got I. cents. Fac
tory lahorcrs even IN that city where most
" the gr"at indnstrics are carried on by
american az European capitalists. receive
i cents per day. and In other parts OF
he country they receive less
MEA1Cb'S sii.NEH STANDARD.
our nolghhuring Kopuhllc OF Mexico,
with n constitutional government very
iml'ar to omr own, with an nrcn of 1884,
90 square miles and "A population of only
bout T. 100000 with almost mtrvclous
natural resources awaiting heVclopm"ni 4
nd offering "A most inviting field for the 4
nscstmcnl of 'hpiinl aud the employ u
nont OF labor. has the silver STANDARD OF =
nlur. gold not being In use. aud II chcnp .
nou"y is ~ blessing TO the lnboring man I
- ought 10 he prosperous and happy In !
hat country Tho Mexican dollar con F,
niHs "a " grains Of pure silver. or MAR |
y six ,gruins more thun Is contained TN IS
ar dollar. and yet not hoing sustained Il
y n monetary system which Keeps u nj I
parity with gold II Is worth only about
I cents In our money. Wages ARE paid in I
ilv"r and are very low in comparison "
'ith the wages paid IN this country for g
10 sumo services, in mnny instances not =
cling half us mprh, while the prices OF y
ommodlios generally mrc much higher
nam they are here. Tho prices Of import
articles especially NJ. cXorbitanily "
igh In Mexico hccnusc they hive to be .
aid Tor nbromd Ia gold, and the deprccln- !
on OF their money Is 50 great thnt H. re- ~
Iircs nearly two dollars in SILVER To puy n
1c IN Eolu. Although our O"n sllN'i dpl- | "a
n contains lcss fine silver than the Mex -
an dollar, one of ours Is nearly caunl Ia n
value TO two of theirs. be- a
iusc here the coinngc Is limited and the u,
py.Tnmcni issues the coins on It's own n
count mud has pledged lis fni,h ond l.
edit 10 keep ihcm as good ns gold. II o
edge tina; ,I5 iioen faithfully kept M to II
is lime. Notwithstanding tie complaints o
nd donuuciuiions Of our free coinngr OPP u
,ncufs. Under ms policy the dollar pnid "
tine lalborng man for his wages Is Just III
good and WIN purchase Just ms much II
IN" markets ms tho dollar pnid to the Ia
'ndhoders, or to any Other class Of cred I'll
)rs. bat If wo are 10 have free nnd I'M In
nitod coinage of legal tender SILVER for itt
e benefit OF the owners of the bullion. | ~
t government and the people at lurge M
)uld have no interest whatever IN the ~
ms. and II would be grossly unjust to ~
Iliiro the government to keep them w.
unl IN exchnngcnble value TO gold. The ~.
llars ns rapidly M coined, would be de- ~ ~
cred 10 the owners Of the bullion free W
charge and the government would hive
l"Rni or moral right TO tdN nll the pco-
Of the country Ia order TO procure gold le
IN which 10 redeem these private colnH. If
~ value Of our dollar would, therefore. | In
ma greater than IN. Intrinsic "a |