Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-08-12

contact with those VINO are always the hfst
to be affected by q financial or Industrial
depression can truthfully assert. without
I fear OF successful contradiction. that there
are thousands of people IN this city who are
| Of life.
These people do not ask for charity: all
that they desire Is work and q fair return
| for their labor. Only the other day was
reported in The Star that the first unfor.
tnnate to fall q victim to the Intense heat
was butcher locking for employment. I
note these few instances to show the con-
d1tions that prevail in the capital Of this
gold standard republic, the natural adj
vantages and resources of which are SUI
perfor to any other country on the globe.
or the working people today Is. what will
transform the present era of restitution
INTO period Of prosperity? And almost
via one accord they cry aloud for the
restoration OF silver to its legitimate place
| IN the currency Of this country. Thanks to
the influence of the press as an educationa
medium. and the many agencies of or
ganization. the workinsmen have been etl,i-
Gated up to that standard by which they are
| enabled to think for themselves speak for
themselves, and act for themselves. and
| In the coming election. They are not to be
| deferred or frightened by the cry Of fifty
cent dollars or the withdrawal OF gold from
circulation.
They have learned from history land
history sometimes repeats itselO that
when silver was denonetized by the act
OF February II. 1873. silver dollar
| was worth 1903 cents in gold; also that OF
the $6JO.OOO.OOO Of gold coin of which We
| hear SC much not one-half according to
| the controller Of the currency can be To-
Gated 1t To also a self-evident fact that
! there Is but little II any gold In circula-
! ton at the present time. The question now
Is to what extent and In what respect will
free coinage benefit the laboring classes
OF the District of Columbia? Whatever
VIII benefit the country, whatever will
dispel the clouds Of distress and want that
envelop Industrial forces in this country
IN general. win benefit the city, and will re-
neve the WORKING classes Of Washington
IN particular. The Nest prosperous period
IN the history Of this country, as we'll as
the most prosperous in the history of
Washington and the history of the building
, races as w. as every other avenue Of
labor wae during the fourteen years that
elapsed between the years 1873 and 1857
and If so much could he accomplished UNI
DER limited and compulsory coinage, what
WOULD be the result under free and I'M
limited coinage. such as Is proposed by the
Cn1cago convention and championed by
William ]. Bryan? Those who have been
driven here from the west to compete with
ashington Labor will return to their
proper field of operations; the surrounding
country Will reclaim mary who have fed
from the farm because of the steady de-
cnne In the prices Of farm products since
Will again be restored by the increase in
the circulating medium, which Is at pree-
ent entirely too small to carry ON the IN
creased business Of this country. Money
will be more plentiful. The merchant can
employ the carpenter. the horsesheer the
painter. &c, and they in return can sup
port the merchant. Capital will seek tn
vestment. which means employment for
the mechanic and the laborer. Labor will
surround itself with more healthfuI and
pleasant conditions as has always been
the case where silver occupied its proper
position IN the currency of the country.
nor hat
member OF organized labor deplores that
the lines should be SO closely drawn be-
tween the masses and the classes in this
campaign; but for this labor is not re-
sponsibie and cannot in the future be held
responsible for that which 1t has so long
endeavored to avoid"
President Spohn on Ceinaxe.
Milford Spohn. president Of The Central
Labor Union. said: Were I a money dealer
would favor the single gold standard but
regarding the question from the standpoint
OF workinSman L favor the free coinage
of silver at the ratio Of 16 to 1. do not be-
lleVe that this Is panacea for all the Ills
with which We afflicted, but believe n
viii largely benefit the people by giving us
a money which cannot be controlled and
cornered for speculative purposes. 1t will
remain with US as an exchange dollar and
thus performing the desirable and leglti-
mate functions Of money should be pre-
ferred to gold.
those who oppose free coinage, that the
silver dollar would he a dishonest coin:
that it would be of less value than the gold
dollar: intrinsieaily: yet this assertion
loses force In face OF the fact that We have
not an honest dollar In circulation today If
honesty means 100 cents in gold. Estfmat-
Ing upon the basis Of the gold coin in the
United States, available for redenptton
purposes. dollar of our currency is enly
worth % cents in gold. II a billion in cur
rency Is thus maintained at par with gold,
why could not dollar. worth 80 cents in
trlnsically, be maintained at par? In other
words. If our circulating medium Is kept at
parity with gold on a gold basis Of 25 per
cent and a confidence basis of 10 per cent,
why couldn't We give 80 per cent of conf
dence to O-cent dollar and make 1T as
good as a national bank note or any other
promissory note? The truth Is our whole
financial system Is based upon credit and
money Of the banker. trust in his ability
and promises. and l believe that il by the
fiat OF the people any amount of silver dol
lars are coined. bearing the sovereign seal
of this republic and the legend. In God We
trust, that Providence and the American
people can make that dollar worth loo cents
anywhere within the jurisdiction of our
flag. think this can be done without ask
ing the consent OF England When it is
done our English neighbor will scramble
for them as he does for the silver of India,
China and Japan. for John is no respector
of nations, quality quantity when dol
lar is the stake"
President silver for Gold.
William Silver president of the Building
Trades Council, said: II am opposed to the
free and unlimited coinage of silver at the
ratio OF 10 to 1 without International
agreement, without this condition there
would be no guarantee for it's stability.
In all foreign exchanges this money would
hot be current and the requirements for q
gold money would mai gold basis neces-
sary. If we had the free and unlimited
coinage of silver it would become debased
through exisencfes Of foreign trade for il
the settlement Of all balances silver would
only be accepted at its commercial value
and. under such conditions, the United
States alone could not maintain silver at
a parity.
If we should have the free coinage of
silver those who own the bullion would
realize handsome profit by having the
government coin their metal free of charge
thus having the face value Of their bull
lion increased almost so per cent. They
alone would be beEeficiaries, while those
who received 1t as dollar in the payment
of debts would be shaved so per cent
None would feel this more sensitively than
the wage worker. for he is always a credi-
tor and sh 'uld always receive for his wage