The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-01-26
MEETING OF THE
TRADES LEAGUE
Hon. Lyman Gage the Principal Speak.
er at Philadelphia.
THE SECRETARY TALKS ON FINANCE
w. j. Bryan Is Quoted and Many OF
His Mis.statements Are Corrected.
The Party Responsible For the
Gold Monetary Standard.

philadelphia, Jan. 25.-The seventh
annual meeting of the trades league or
Philadelphia was held tonight IN the
Academy of Music at which the prin-
cipal speaker was Hon. Lyman j. Gage,
secretary Of the treasury, In holding
tunight's meeting the league makes
departure from its usual custom OF
transacting purely routine business at
its yearly sessions. The purpose in do
ing this is to enable the members to be
addressed on subjects kindred to their
association by prominent men. In stat
ing this. w. W. Foulkroad, president
of the league, introduced Secretary
Gage. He was warmly received and
held the attention Of the large audience
throughout He spoke on the subject
of "Finance," and his remarks were
frequently punctuated with applause.
Secretary Gage, by way Of introduc-
tiCn, sale:
There arc two opinions on the money
questions now, more or less firmly held
by those who entertain them. The one
supports the re-establishment of silver
in the privilege of free coinage at the
mint at the ratio of 16 to l, irrespective
of all consequences, near or remote,
and without regard to our membership
opinion IS that the present gold stand
ard should he maintained at all costs
until by international agreement the
present disparity between the CONNER
tanned by fact and he cited from sta
cial and the legal ratio of silver to gold
shall be made to disappear.
The argument Of the 16 to l advo-
Gates. Secretary Gage continued, is that
gold having appreciated in value, prices
of commodities have fallen and wages
have been reduced.
The statement that wages have been
reduced, the speaker said, is not sus-
tistics of the commissioner of labor to
show that within the period of 1872 to
1871. while prices of commodities have
fallen 27ia per cent, wages have IN
creased an average of ten per cent
the wage-earner thus reapng double
advantage by the greater purchasing
power of the wages earned. ....
REFERS TO BRYAN.
Referring to a recent speech of Will
liam j. Bryan, in which the latter said
"the daily papers have items of news
arranged under two heads-the forma-
ton OF trusts and the reduction OF
wages" the secretary said Mr.. Bryar
to one industry in New England il
which by reason of special conditions
reduction in the wage scale wa'
under debate. He failed to state, con
tinued the secretary, that only a few
weeks ago the worsted manufacturer:
in Rhcde Island granted an increase o.
20 per cent in the pay of $4,000 opera
tivcs and that in Philadelphia numer
Gus woolen mills have restored the in
creased wages of 1893.
Mr.. Bryan, he continued, cannot
point to one instance of an advance ir
wages between the date of the Chicago
convention of 1896 and the November
election of that year, while since the
election many thousand idle men have
obtained employment and many o.
those who had employment have re
CeiVed increases in their wages. IL
support of this industrial revival. Sec
retary Gage instanced the window
glass industry, the rolling mills in Al
ALBANIA. Maryland and Ohio; the COX,
industry Of Western Pennsylvania, tn,
pottery industry of Trenton, and, h,
added, in nearly all iron and steel in
dustries.
Secretary Gage also took Mr.. Bryai
10 task for having recently said tina
"Our enemies boast that they hav
buried bimetallism."
The secretary said:
His enemies, if he means the Re
publican party, are not boasting tina
they have buried bimetallsm. The
proclaim themselves it's friend: the,
approve it in their platform. The po
litical head of that party has been ac
tive to secure it under the only condi
tions by which it can be maintained
namely, international agreement, witt
open mints to both silver and gold"
THE GOLD STANDARD.
The secretary also quoted Mr.. Bryal
ns having said that the gold standar
was adopted without any party askin
for it, and in reply to this, the secre
tary said Thomas Fl. Benton, the lead
er OF the Democratic party in 1884, ha
introduced bill in the senate whic
was passed and which restored gold {
our currency system and made it tn
monetary standard.
This wise act, he said, was signe
hy President Andrew Jackson, tn
Democratic idol
The remainder of the secretary
speech was devoted to argument in ia
Vor of improvements in our fiEancif
system, and also in support of the rec
ommendation in his annual report
congress to commit the country MOI
thoroughly to the gold standard an
remove as far as possible doubts an