The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-08-01
WHO WOULD SUFFER.

From the Philadelphia Times.
There are in the United States 500, 900
persons who hold policies in life insurance
companies, and they are insured to the
aggregate sum Of $4,000, OOO,O ,OOO While
two-thrds OF the $l3,OOO,OOO.O 900 of insur.
ance Is held by men of fortune, the re-
naming ole-third is held by men of mod.
crate means. and very largely wage-earn-
ers. large majority of the policy-hold.
ers are men without fortune, whose FAM
lilies would be largely dependent upon life
insurance for support In the event of the
death Of the head of the family. The
adoption of the silver standard would
make the amount of life insurance paid
to the 100000 people who hold policies not
over $1,000 100000 in actual value. being a
loss of $6OOO, 900 to the policy-holders, a
large majority Of whom are dependent
upon their daily labor
-:u:-
The wage-earners of the country, organ.
lied as home-builders in the various build
ing associations of the country, have ac-
cumulated savings to the extent of $780,.
600, 900. by which most Of them expect SOON
er or later to become owners of their
homes. The adoption Of the silver stand
ard would reduce the value of the savings
Of the wage-earning home-builders from
s500, 900 to about S250OOO,OOO. This loss
would be suffered without any compensa-
tion to the people generally and with adj
vantage to none unless 1t be the few silver
producers.
There are in round numbers 100000 Of
wage-earners In the country who have
deposited of their savings in the savings
banks OF the country over 1900, ,OO0, ,0O0
This is the savings of the wage-earners
Of the country, and 1t has been deposited
in dollars worth 100 cents in gold. The
adoption of the silver standard would re-
duce these deposits of the savings Of
wage-earners nearly or quite one half,
making an absolute and immediate loss in
the savings of labor of 5000, 100000,
-:l:-
There are in round numbers $50. 900 PEN
sioners IN the United States. made UP Of
the veterans Of the war and their widows
and orphans. Their pensions amounting
to $40, 100000 annually. The adoption Of
the silver standard would reduce these
pensions nearly or quite one-half. making
an annual loss to the pensioners Of the
country Of about TO.0OO.0OO.
-:l:-
The various industries Of this country
now pay annually to workingmen S7,125,-
100000 in wages. They are now paid In
gold or its equivalent, and each dollar,
whether gold, silver or paper, is Of equal
purchasing power The adoption of the
silver standard would reduce the value Of
the money paid for wages at the present
rate 1850, 900, 900 each year.
-:ll:-
The experience Of the world Is uniform
in teaching that when money has cheap
ened in value, the wages of labor have not
advanced In proportion. In 1865. when the
country was regarded as prosperous after
the close of the war, although the nominal
wages had been increased over the wages
paid in 1860. the actual purchasing value of
the wages Of labor in 1865 was but GA per
cent. Of the purchasing value Of the wages
of the same class in 1860. In 1873, when We
had resumed specie payments and re-
gained the gold standard, the wages paid
to labor purchased 46 per cent. more than
the wages earned in 1860.
-:Il:-
While the success of the free silver the
ory that would bring US to the silver
standard Of money along with the other
silver countries Of the world. would be de-
| structive In every channel Of commerce.