Kansas City daily journal., 1896-10-19
Wage. and That Awful Crime.

From the Chicago Chronicle.
A correspondent signing himself "An-
other Wisconsin Farmer" writes to the
effect that upon the combined authority
of Mr.. Cochran and Mr.. Heinz, 1.-The la
boring man" in 1873 received only 70 cents
day. and asks: Does the Chronicle see
any damage in a mans wages coming
down from sl.50 or 81 to 10 cents?"
Yes, there would be damage to the work.
ingman in such fall in wages unless ac-
companied by corresponding fall in the
cost of living.
But it is not true that there was any
such fall in wages in 1919. The senate
finance committee carefully Investigated
the subject of prices and wages in 1891.
The committee was composed of both ad-
vocates and opponents of free silver and
their report was unanimous as to the facts.
Here is the substance of 1t as to wages:
Taking the average in all occupations,
according to their respective Importance,
as 100 in 1860 there was an advance to 101.2
in 1862, and then rapid decrease to 6S.7
in 1866. Then followed a rapid advance
to 1882 in 1872. Then came a decline with
the panic of 1873. touching bottom at 134.2
in 1876 From that time there was steady
and almost continuous advance to 1856 in
1891. These figures represent wages in gold.
Thus the report shows that there was
temporary setback in wages after the
boom which eliminated in 1872. But this
setback was soon followed by recovery.
and in 1891 the average was 145 per cent
higher than it was in the minimum year.
1865, and over 10 per cent higher than in
the boom year. 1872. And the fall in 1878
from the boom year, 1872 instead OF being
more than so per cent, as our farmer has
it. was less than per cent.
Now as to prices. The same report gives
averages of all articles for every year
from 1910 to 1881. inclusive. taking the av-
erage of 1860 at 100. The average Tin gold)
fell from 100 in 1860 to S.2 in 1865, rose to
1927 in 1871, and then fell away. with oc-
caslonal partial recoveries. to 96.2 in 1891.
Comparing 1872 with 1891 we find that av-
erage prices fell over IA per cent. while
wages rose over 10 per cent. The laborins
man not only got higher wages in 1891
than-he did the year before that alleged
dreadful crime" but his wages would
buy more of the necessaries and comforts
of life.
guess. They are the result Of a laborious
investigation covering all parts Of this
country. conducted under the direction of
senate committee composed OF both
"goldbugs" and silver beetles. and they
have the Endorsement of all the members
of that committee.
Economists agree that these statistics
are the most trustworthy of their kind
ever collected. They completely dispose
Of two silverite claims: First. that prices
have fallen continuously and to the ex-
tent of 40 or 80 per cent since 1872; and,
second. that wages have fallen. The
proof is conclusive as statistical proof
can be that there is no truth in either of
these claims. except that prices have
fallen about IA per cent. The working
man cannot well complain Of that when
he is getting 10 per cent more pay.
Any change that may have occurred
since 1891. be it observed. cannot be at
tributed to anything that happened in
1873. eighteen years before 1891. 1t would
be as reasonable to attribute the failure
of Jay Cooke in 1873 to the comet of 1s43.