The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-04-18

JOHN q. CARLISLE.
had been selected as the most fit per-
son for giving the information want
ed. He referred 10 the late Horr-Har.
vey debate on the silver question. and
Euid that nothing had been learned
from il, and that the labor people were
still undecided as 20 whether silver
could be coined free without detriment
60 the credit and financial standing OF
the country. He then introduced MIR.
Carlisle.
Relation OF Currency 60 Workingmen.
Mr.. Carlisle opened mis- address by speak
ton to the workingnen OF this country
or any other country.
Whether the general business OF the peo-
money or bnd money. whether the wagcs
Of labor shall Dc Pald ma, ~ 2 sound and stable
for the necesaaries OF life. or in depreci-
ated and fiuctuating currency, having no
fixed value and therefore bearing no per-
mancnt relation 10 the current prices OF
commodities, are qu~stions which affect
the comfort and happiness OF every home
and ne peace and prosperity OF every com
Ho called attention 10 the fact that The
wo o,i, mere v man nan, All Others should
value and stability OF all our currency and
promote the profitable conduct OF our in-
his family that viii sufrer from the effects
. OF cheap currency that VIII Increase the
prise, Of eomm1alties more Than the
enough TO prevent want coming TO himself
or family whatever may come IL is the
poor man who depends upon his wages or
upon the products OF his own labor for the
means Of supporting himself and his fam-
NY. that always feels the first and most
disastrous effects OF a business or indus
trial DEPRESSION no matter whether II re-
suits from a deprecated and fiuctuating
currency or from other causes. such n
man mas nothing TO dispose OF but his iui0r,
and nothing with which TO support himself
or his fanny but his wages or the proceeds
Temporarily suspends or districts the in.
dustrial progress OF the country. by dimin-
ishng the demand for the products OF labor
or by impairing the capacity or disposition
OF capital 70 employ labor must be injurl-
GUS TO his interests and innict more or
less suffering upon all who are dependent
Result OF 10 60 Ratio.
Whether we shall or shall not have a
long period OF financial, commercial and
industrial depression In this country Is y
question directly and necessarily involved
IN the demand now seriously made by
manyof our fellow-ctizens that the United
states. without the cooperation OF nny
other government In the world. shall au.
thoFize the free and unlimited coinage OF
full legal tender silver at the ratio OF
sixteen TO one, Notwithstanding the friis
market ratio between the two metals A
about thirty 10 one The naked PROPOSE
ton ~ that the United States shall coin. al
the public expense, for the exclusive bene-
NJ OF Che individuals and corporations own
ing the bullion, all the silver that may b.
presented al the minis into dollars con,
tanning S7Ih grains OF pure silver, or ij2is
igrains OF standard silver worth intrinsic
10 the deposltors OF the bullion and COM.
pei all the other people Ia the country Il
receive these sn eens a, a valuation q 10
To say nothing or the gross Partially ND
manifest injustice Of such a policy. II" IL.
currency 10 the extent Of ~ a y GGnsreS5 og
by stopping the use OF gold as money an
putting a premium upon tho coma OF tina
ence between the Intrinsic value 81 IA.
gold dollar and the intrinsic value 81 ihs
syer o0.er cali colns we would, e. once be
The value OF the silver dollar would fuctu
with the rise and fan OF the commercia
price OF ne bullion contained IN II, ns The
tne ec da' eo noes wog ara ~ sns
ate 20 the same extent, thus affordlng nr
opportunity 70 bullion brokers and specu
lators 20 buy and sell at a profit ii wouli
cease 70 be used as money. because no ma
would pay his debts IN gold dollars or il
hap esn rsds wsen u gold dollar WORT
pay 4 IN silver dollars. worth only 81 or =
Purchasing Power Of silver Les.eped.
" nl| tAN NAtANH expulsion OF I'LL. uUI. ID
IN gold from our stock OF money woul,
itself be sufficient 20 create n financial az
f0rbanco unparalleled In the history of hi
or any other country. the situation wouls
ne very krcetly aggravated by the fact tina
the purchasing power OF All the renninde
OF our currency would be suddenly reduce,
about ont-hnif. We should have only aboti
fwo-thirds a. much currency az we nav.
now, and al the same time II would 30 n
deprecated IN value that II would rnutsr,
about twice a. much "a we have now 4.
transact the business q the country nro
yidcd there should be any business 4.
transact. =
Double standard Always Failure.
Tho attempt 10 maintain what IA calle,
the double standard on value. that IA ~,
attempt 20 keep tho legal tender coins al
the two metals. gold and silver IN Use AZ
money ~ the same time. upon a ratio 8
value fixed by law, has repeatedly bee,
made ~ kings and parliaments In ever,
rtfiilFcd country IN the world. and II hal
failed again and nEHIf ~ every one .
them and Il requires no Rift or prophfo,
60 forcnee that Il muRl continue 10 fail "
IonR an self interest constitutes n CONTROL
Ing factor in the business Affairs Of men
history of the monetary legislation 4
this country from the time Of the drnftinl
OF the constitution 70 the present day I