Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-01-13
SILVER pEMoNETlzED.
What Its Eject Has Been UpO
Labor.

Labor.
In attempting to answer this ques-
ton we have at least two propositions
| to take into account. 1. Has the de-
monetization of silver in any way con-
| tracted the volume of the national
basal on redemptive money? 2. If so,
| has it embarrassed the wage earners of
our country?
There can be no doubt in the mind
| of any intelligent observer that if one
half of a nations, or the worlds, re-
demptive money is destroyed, the re-
naming half will appreciate in value
and become more difficult to obtain.
Hence all commodities used in the ex-
change for the limited amount of
money must be increased in CORE
spending volume.
This has been recognized by both
| politicians and business men. Mr..
James Dobson, in an address before the
Manufacturers club, in Philadelphia,
said: 1--WE are now presented with
! condition, not theory; condition so
| far reaching that unless a change takes
| place in the near future it will bank
| rupt one-haf of the producers of the
wealth of the country; condition
wherein the seller sells under fear;
the buyer buys without confidence, and
| the creditor apprehends loss on his
| principal. This condition of affairs is
due, in my judgment, to other than
natural causes. l allege that it is due
to the demonstration of silver, to the
| contraction of our currency, to MAX
ing one dollar do the purchasing power
of two
John Sherman, in a speech in 1896
touching the effect of the demonetiza-
ton of silver in Germany, said: 1.-THE
erroneous effect of the law l suppose
is felt by every man, woman and child
who buys or sells anything. There is
no act of any parliament that has had
so wide-reaching effect as this act of
the German parliament. The amount
CT coin in the world is estimated by
Mr.. Seyd and other technical writer's
at $3,2OO,oOO,OO0 of silver and $780,
100000 of gold. A struggle for the
possession of the gold at once arose
between all the great nations, because
everybody could see that if the So, 200,-
100000 of silver was demonetized and
| $500, OOO, 900 of gold coin made the sole
| standard it would enormously add to
the value of gold.'' Mr.. Sherman ought
to have taken this into consideration
when he aided the men of Lombard and
| Wall streets in the characterization of
our silver.
Economic writer's in all ages have
recognized that a contraction of the
nations money supply has tendency
| to paralyze trade and cause fall in
| &c ~, l,a
other hand, an increase of the money
supply will check a decline in prices.
and, if sufficient. cause them to rise.
John Sherman said in 1869 before
| silver was demonetized: "The contrac-
ton of the currency is a far more dis
| tressing operation than the senator's
| suppose. Our own and other nations
have gone through the operation be-
| fore. It is not possible to take that
voyage without the sorest distress. It
means the ruin of all dealers whose
| debts are twice their business capital,
| though one-third less than their actual
| property. It means the fall of agricul-
tural production, without any great re-
| duction of taxes. What prudent man
would dare build house, a railroad,
q factory or a barn with this constant
fact before him."
John G. Carlisle, ex-secretary of the
| treasury, said, in an address February
| 81, 1878: 1.-THE conspiracy which seems
to have been formed here and in Eu-
rope to destroy by legislation and 9th
| erwise from three-sevenths to one-haf
the metallic money of the world is the
most gigantic crime of this or any other
age. The condition of such a scheme
would ultimately entail more misery
upon the human race than all the wars,
pestilences and famine that have ever
occurred in the history of the world"
| Yet this man at latter date used his
influence in helping rivet these fet-
| tiers on the limbs of American enter
| prise and labor.
Hume, one of England's ablest and
most reliable historians, says: I'VE
find that in every kingdom into which
money begins to flow in greater album
dance than formerly everything takes
on new face, labor and industry gain
life, the merchant becomes more en-
| terprising, the manufacturer more dill
| gent and sl1illful, the farmer follows his
| pillow with greater alacrity and atten-
| ton. A nation whose money decreases
! is weaker and more unable than an
other nation which possesses no more
money but is on the increasing hand.
Falling prices and misery and destruc-
ton are inseparable companions"
That the decentralization of silver has
| lessened the volume of our redemptive
money and contracted the volume of
our currency is fact without an in
terrogation point and that there has
been fall in the general level of
| prices is also apparent. AS labor must
necessarily be paid from the profits of
what it produces from the soil, the
mines and the shop, a lessened price for
these products will carry into the hands
of labor a Iessened amount of wages.
| A decrease in wages takes away the
ability to purchase goods. This re-
duces consumption and consequently
lessons the demand for the products of
labor. Hence the army of the unem-
| ployed enlarges until it threatens the
peace of the state and becomes also a
| menace to those still having employ
| ment.
Employers knowing that their en-
! ployes cannot be independent except
I SO far as they are protected by unions
/ &c forooH down