This is the outcome of our years of bitter experience in the vain attempt to increase and maintain the ancient value of silver. No other nation yet appears willing to follow our example in this line of national policy. We have more than once during this debate been warned of the danger to which we may soon be exposed by a flood of cheap Asiatic products imported from India. China. and Japan. where cheap wages are paid to laboring men in cheap silver. and strange as ft may appear to sane men we are now seriously urged to adopt the free coinage of silver in order to equalize financial exchange. so as to compete with these oriental artisans. who are blessed with hardly a tithe. certainly with not onefourth. of the Americancompensation. and appear to be contented with silver money at about half of its face value. To me this looks only as the first step in equalizing the wages of labor instead of exchanges. " First. it is proposed to establish the silver standard of money. and unless this is to be followed by the Asiatic standard of wages also. it is difficult to see how these coming rivals are to be checkmated simply by our free coinage of silver. In Mexico any of our money. being equivalent to gold. can there be exchanged for about double the amount in Mexican silver. with which cattle can there be bought at less cost than in the United States. But the contention here that a gold standard of money fixes low prices for all products and that a silver standard fixes high prices can not be true.
Identified stereotypes
Asiatic laborers are described as being content with low wages.