The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-12-30
I|DELGOMPERSREP
y esorstary Cages Criticism Of
tho Federation Of Labor. ....
EVILS OF THE GOLD STANDARD.

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tne Ianks the Absolute Control OF
All .deasureS of Value.
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ne So,u sl"iu'u d. WIN" ~ i
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you asM "nat eviin nav ,eautsu i,''.
our aahereliee ~ .ne solu s,unuaiu ..na u, .,,ot
shs"er 'hae tiie eNi's a., .no1o .n''
o'slohes' i'easu,t y. Ns'ue'' ,is
uie VI Vaiues 'n"t ,n'ei is.'' W." N
just aistflpution OF wealth. that oe-
pri'es so'ie men Va pal. o1 'Ne',
earnings, lhat Is risht'y thelis anu
coniefs IL upon others "no nave e''it-
GU - nut
Ahe prouucls u .ap'i are u'vioea
INTO three general shares. ohe snare
goes rs ihtefest anu reh'9 " 'ne ''iohsS
iehuel anu 'a'luioiu' u eap,'"iists WIN
oo ho' pfooucti'e'S use 'neii o"ii oul-
Nal. VINO seek 10 aVoia the r'S's oi pio-
uuctioh' seeollu ",'"ie eoe' d" piot-
Hs 10 eihPioyers' d t'''lo sna'e gus a:'
y wases 10 Mase u'he's. lne 'i'.e'sS'
charses anu fehts are u e'cat ae-
gree hAeu' anu pioii's anu "aSe' "ie
SUBJECT 10 great l'u@tua'iois' MS "
ing So II Is ciear that ahy,hihs 'hal
reduces the totai money value ol the
prooucts OIL lapor must increase tie
snare OF the iiioileS lehuer anu creal.or'
thouen hoiilhaHS nHeu' anu decreu"e
tne snare TO pe a'Vleed among EN-
ployers ana wage earhels' IL Is e4ual-
~ Clear thal u increase the Naiue OF
money mus. aecrease tAe value VI tie
proaucts OF iapof' ana therefore en-
fich tne creoltof ut lhe expense oi the
oep.or'
NOW II our adherehce 10 the so'u
standard mas causea money ~ grow
dearer' you must aoiliit tnat 'iie so'o
standard mas zone INJURY 10 our people,
orousnl ois'ress ~ "ahe ea' i'eie anu
employers anu olscouraseo enterprises
our auherence u tne so'o s'aiiua'o mas
fcauseu Hiohey " sio" III value anu. VI
= course forced the thihss measured III
money 10 fall IN price
HoWeVer' IL IS not alone 10 q cheap-
snlng or the lanor cost OF production.
but also 10 an actual appreciation OF
gold that the fall IN prices since ls'2
mas been IN great part due rms ap-
preciatlon mas grown out or the de-
monetlzatioh OF silver Whlch mas IN
creased the demands for gold. Ihe fall
In prices since 1885, common TO all gold
using countries rail- Ill prices OF ~
per cent mas not grown out OF I'M
oroVement IN machinery exclusively,
bul was Que primarily TO an apprecla-
lion or gold
Changes IN the value or money nave
largely influenced the movements or
prices during the last half century and
were great Factors IN the price move
ments during one long period. Dhrlns
ehe quarter OF a century lolo"lns the
solo discoveries III 'alliorllla thefs was
much progress IN the line OF INVENTION
much introduction or iapof saving ma
ohinery much cheapenlng IN the labor
cost or production. rms, on your
theory, should have caused steadily
falling prices But what happened?
The outporing of gold cheapened gold
to greater degree than commodities
were cheaDened, and the result was
that prices were in general 80 per cent
higher at the end of this period than
at the beginning. Then what hap
pened? We, along with many other
nations, closed our mints to silver We
increased the demand for gold, with
the result that gold went up In value
and prices of commodities down.