New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-26
MR.. GAGE ANSWERS BRYAN.
AN ADDRESS BEFORE THE TRADES
LEAGUE OF PHILADELPHIA

Mr:NT AND SHOWS HOW PROSPERITY HAS
FOLLOWED THE TRIUMPH OF RE
PUBLICAN PRINCIPLES.
Philadelphia Jan. 25.-The seventh annual meeting
OF the Trades League OF Philadelphia was held to-
night In the Academy OF Music The principal
speaker was Lyman J. Gage, secretary or 'he
Treasury In holding to-nights meeting the
League makes a departure from It's usual custom
of transactng purely routine business at It's yearly
sessions. The purpose In doing TINS - 10 enao',
the members 10 be addressed on subjects kindred
70 the objects OF their association by prominent
men. ". ". Foulkrod president OF the League
introduced Secretary Gage. who "as warmly re-
ceved and held the attention Of the large audience
throughout He spoke the subject OF Finance
and his remarks were frequently applauded' MI
Gage spoke in part follows:
Ladies and Gentlemen: While the invitation
which brings before you carried with IL no susI
cestion AZ 10 tho subject matter of my proposed
address il was no doubt presumed that would
lions which FOR some years last past have been ar
iol'S ~ - ~ n;,hiic ,botehf and have fur
nshed the main issues Tor pontcai &c con $3.50
the subject OF renewed political struggles they
have not lost their Interest to the though'IuI lll
With this apology. u apology be needed. propose
to present in the simplest form possible within me
OF my views and beliefs on the great theme OF the
money standard and the currency system. .,,,,
There two opinions on the money question
now or less hrmly held by those VINO enter.
Of silver in the privilege OF free coinage AZ me
Mat at the ratio of Il to l. irrespective OF all con
our membership in the family Of nations. Lhs
other opinion Is that the present gold STANDARD
tional agreement the present disparity between the
commercial and the Legal ratio Of silver to gold
How can We learn 10 correct erroneous opinion
A reasonable sympathy Is powerful. soIvent %,
burning iuVective simply harden the mind they
neither win conviction nor compel the judgment.
he fffrp ffcn cod q
truth and Justice Of his position the better ought
- be the assurance to MIN mat time Is work,n3
should be his faith that with patient effort 1t will
triumph
THE IS TO 7" ARGUMENT.
What then. is the argument by which the '1s
to I" advocates maintain their propositions? Many
letters received from the most intelligent OF these.
and notably one from the leader OF a great organi-
cation. enable me- l think. to state fairly their
case
The following IS a favorite but misleading argu-
mert against our monetary standards Under the
present Industrial system all products the re-
suli OF three necessary facOrs-land. labor. capt.
ia-and among these three the value OF things pro-
averred that lana Tor reno mas the ability TO fix
rs share and that capital Interest and prohO has
made in dollars the result OF price falling prices
De at the cost OF labor. since land and CAPT
terms thav Themselves dictate Cold they say.
having appreciated in value. prices o, commo ites
iand and capita the evil effect has been felt by
US IN ne folr, ~ diminished share Now. il
his statement true II would Of necessity be
evidenced by an actual fall In wage prices =,
has been asserted upon authority and believe It
10 Doc approximately true. that within the period
cent am Al liberty. therefore 10 adopt the same
authority 20 the course Of wages II appears
Of labor t6e sat5or.y cited hat within the period
ls72-'sl wages increased an average OF 10 per
mand things 6y reason % their lower price the
economic advantage gained BY labor IS sun tur-
,her emphasized In is72 800 In gold would %. guy
fallen. 500 would buy 2s pr cent more Than II dil
in 1872 ana wages having increased 10 per cent IN
500 in 1872 received $40 in 1921. From the double
advantage o, decreased prices and Increased wages
4 follows mat In 1891 the same labor would pur-
h4se 81 10 per cent OF living than II did in
No IT not upon wages that the INJURIOUS 5a EJECT y
OF a gold anprecia don fails u Is up9n moe ~Ho
any that the injurious effect is visited This Is al
plain that one cannot comprehend now me WAY
10y rnultitudes OF words couched In ambiguous and
sopHistical phrases, seeks to obscure judgment.
THE REVIVAL OF INDUSTRY.
Tho revival Of Industry now Witnessed and ths
easy condition as to interest which now transfers
capital are the best witnesses TO the dangers from
which we have been delivered Nevertheless. that
forvid orator VINO is recognized the leading ex-
pcnent OF tree-s.lver doctrine is not satisfied In
recent speech he said. Read the daily papers and
you Will find the items OF news arranged unier tWo
hoads-the formation Of trusts ana he reduction "i
vases -.
hastens 10 emphasize one Industry IN NeW EllS
land IN which by reason OF special CONDITIONS wen
known 20 him. 4 reduction in the wage scale was
under debate He knows. or he ought 10 know" ana
failed 20 state that only Few weeks ago ""Is-e''
manufacturers In Rhode Island restored the Wase
scale OF 1893 in their mills mus grhhsinB an -!
crease OF p per cent In thu pay or about twenty
FIVE thousand operatives He knows or ne Gusn n
Thiadephlt numerous woollen mills have restored r..
the wages Of 1855 AMI are 40 active that II is dlfn-
cult and sometimes impossible to secure IN. ne s ?
required operate them and IN contrast 70 me
depression in cotton textiles woollen manufactures
are booming al over the country - .
Let him point II he can, TO one single instance OF
an r,1,a,,or ~ 1895 and the November election
OF that year when that runous platform was con-
,bat WITHIN a few weeks after the November cleo
ton 1906 fifteen thousand men ldle lor ions uHle
were pu. " work in the wlniow-g.ass industry
MORE WORK AND HIGHER WAGES.
Since then az the revival mas progressed Instances
% advances IN wage rates and OF increases IN num-
berg employed have multiplied. Tho resumption o.
work in rolling mills during the summer in Ala
bama. Maryland ami Ohio gave employment 20
thousands OF men. Indeed. In iron and steel and
49, - iron as material I nave il upon authority
IA, mere Is an increase OF az least 2l,OO men
emyloyei over the preceding year. In addition TO
tHts arge Increase in he working forces employed
ir iron and steel and dependent branches, advances
In wages ranging from ~ 10 p pc cent nave been
made and in some cases much greater as the re-
suit o. wages paid on tonnage oasis since me
Usage OF the Tarn bill the tinplate Industry
has Wonderfully revived. and wages IN This line
have since the summer been Increased by rates
va~vinx from ) 70 u and - per cent The weekly
output Of coke a. the end Of 1897 was more than
C0uueL svle Coke Works there has been an IN
crease IN the number actually engaged from about
ten thousand twenty thousand \ voluntary ad-
vance In wages by the leading companies In the
coke Industry has benefited thousands OF men. Tho
advance In the wages Of glass workers. determined
upon A. the close OF the year Is 20 recent that Mr.
f!r-an must know OF K. The pottery industry OF
Trenton during recerS years has been greatly de-
pressed with many failures and not half the hands
fay. been employed Wages nave now been ad-
vanreI more than q per cent. and there Is great
increase I'm the number OF hands employed In this
9erri.t 20 the extent at this time 81 probably five
thousand Or more. II made public 30 recently as
last September. by official report Of the New
work traios-unlOns that there was then Increase
OF "a per cent In the number OF their men employed
- Mar ola