People's Pilot, Volume 4, Number 11, Rensselaer, Jasper County, 31 August 1894 — MUST WAGES BE LOWER? [ARTICLE]

MUST WAGES BE LOWER?

*. Question for Gold Monometallists to Answer. The London Times, England's famous “Thunderer,” has played the first card in the second "brace” game of consolidated capital against every interest in the world. In a late financial article it declares, according to the cabled condensation, “that the questions of currency depreciation, sifter, etc., sink into insignificance compared with the immense reduction in the returns on capital due to a continual rise in wages. It says the capitalists of the United States are reduced to a striking point at which they are prepared to stop their works unless a wage reduction is conceded. The inflation of trade, finance and the labor market had to be followed by a natural, and in some cases violent, collapse. In England the process is less violent, but itis proceeding.” The financial article of the London Times is the sage authority which the gold monometallists of the United States are constantly citing for the edification and instruction of bimetallists. In the conspiracy for the appreciation of gold and the depreciation of the value of every other commodity, silver, wheat, cotton, corn, cattle, or anything else measured by gold, that paper has been a leader. British to the core, it of course serves the interests of the “tight little island” first, but as the interests of the holders and monopolizers of money have become identical the world over the efforts of the Times to enhance the value of their capital are appreciated as highly by the bankers of Wall street as by those of Lombard street.

The first step in the conspiracy which began with the demonetization of silver in 1873 has been successfully taken. Gold, by reason of the increased demand for it, has been doubled in exchange value. That means simply that every other commodity has been decreased in price 50 per cent. This is matter of common notoriety, demonstrated broadly by market quotations on wheat and food products, and brought home to the ordinary individual by the constant cheapening of goods of daily use in the retail stores. The gold monometallists have endeavored to defend their position by declaring this universal cheapening of articles of general consumption a general benefit. To the one primary producer. the farmer, they claimed it was no injury, because the goods he had to buy' were cheapened in exact proportion to those he had to sell. Of course the interest on his mortgage was not lessened in proportion to the prire of his wheat, but that the gold monometallist conveniently ignores. And dismissing the farmer thus the monopolizers of money go on to plead that every wage worker is actually benefited by this universal cheapness, because wages have not been reduced while living expenses have. Such was the argument a few months ago. Having accomplished their primary purpose the gold monopolists change their plea. Wages, they say, must come down because everything else has come down. The workingman must not complain if his wages be cut, for has not the cost of his living been decreased? It is a poor rule which will not work both ways, and work this rule either way you choose it still operates to the advantage of the man with capital and against that of the man with industry only. Wages, the London Times tells us, must come down, and its dictum is echoed by an army of gold-bugs in this country. If he be a democratic goldbug who speaks he will tell you that wages must come down because there are too many men in this country—as if there could ever be too many producers of good and necessary things if opportunity to produce were not denied them.. If he be a republican he will lay the blame for the decreasing rewards upon tariff reduction. Neither is right. Between money monopolists, democratic and republican, there is absolute community of interest to-day, and the tariff agitation of both is designed only to divert public attention from the one issue, discussion of which both dread, the question of a contracted currency.—Chicago Times.