The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-09-07
Free SiIver's Greatest Burdens.

| a'oiudpie III u vast out new country IKE
| ours. we naturally shrink from any
measure that will either rob the lender
| or do Injustice to the borrower. 1t Is
impossible to estimate the wrong and
| injustice that will be done to creditors
by the scaling of nearly one-half of
| debts due them. The very threat to do
1t Will lead to the prompt and hard col
lection of debts before free coinage can
become a law. l am advised that al
| ready debts that would have remained
| uncalled for have, in fear of such law.
been enforced. 1t is certain that before
| free-coinage bill can become a law the
wide distrust caused by the pending Of
such a measure will lead to the rapid
collection of debts. the sacrifice of prop
erty. and deepen existing financial diff
ficulties growing out of insufficient rev.
enues for the national as we'll as for
many state governments.
1T is sometimes said of creditors that
they are bloodthirsty Shylocks. aristo-
Gratis, blood-suckers. extortioners. 1t
may be that there are among money
lenders some men who merit these epi-
thets, but the great body of the credi-
tors of our country are among the
thrifty. industrious and intelligent men
and women Of every community. One
great body of creditors here is the 97O.-
900 Union soldiers, their widows and
orphans, who are creditors to the United
States to the amount of over $4,000
900, year for services and sacrifices in
the Union army. 1t would be an act of
perfidy and meanness beyond express
ion for this great country to pay them
with money Of less purchasing power
than gold coin merely because over
production of silver in the United States
has reduced the market value of silver
bullion contained in a silver dollar To
take advantage of this decline in order
to reduce the value Of the pittance to
these pensioners is worse than to rob
the graves OF the dead.
There Is another class of creditors
that the free coinage of silver will
greatly injure. 1t is the depositors in
savings institutions and kindred organ
iZations. who, according to official STA
tistics, number nearly five million peo-
pie. and whose deposits amount to more
than $1,SO0,0OO,OO0. viii you cheat them
by reducing the value and purchasing
power of the dollars they have deposit
ed? Free coinage will also wipe out
nearly one-half the value of life insur-
ance which Drovident people of the
United States have paid to secure. in
case of their death, some support and
protection to wife and children. 1t will
affect injuriously the multitude of clerks
and employees who depend upon monthly
pay, and will reduce the purchasing
power of all salaries of officers and en-
ployes In the public service of the
United States and of every state,
county, city or township in this broad
land.
But by far the greatest injury result
Ing from the free coinage of silver will
fall upon the workingmen Their wages
are now based upon money of the high
est value, upon gold coin of standard
value. Under free coinage of silver the
value of the silver dollar will fall to "a
cents in gold, or as l have already said.
the 100 cents of the gold dollar will be
worth 1874 cents of the silver dollar With
free coinage of silver every working
man can and ought to demand enough
silver for his daily wages to be equal
to the purchasing power of his present
wages in gold. The struggle between
the workingman and the employer will
then commence, and no one knows bet |
ter than the workingman how difficult
1t is to get an advance of pay. We have |
strikes and strife enough now. when the |
workingman gets his pay in gold coin or
its equivalent. but what will be the con-
dition if he is paid in cheaper money of |
the same nominal amount, but of less |
purchasing power? Every sentiment of |
justice will be on the side Of the work. |
ingman in his struggle for good money |
or increased wages in cheap money. or |
all the evils which government can in
fiict. none can be greater than cheap
money, whether of coin or paper. That |
dollar is the best dollar that buys the |
largest quantity of food and clothing.
That dollar is the gold dollar, for 1t buys
more food and clothing than any other |
dollar and will also buy a silver dollar |
for SO cents, II the coinage of silver is |
made free at the ratio of 16 to for gold"
Senator John Sherman.
Both Republicans and Democrats
have given reasons for the great land
slide in Vermont last week that rolled |
up $1,000 majority for Josiah Grout, Re-
publican candidate for governor; and |
a good many diverse opinions have
been advanced. 1t has, however.
remained for one of the brightest
young men Of the Associated Press to
definitely settle the question. He tele-