Gustavus Myers

“ Of the whole number of workers, few realize that the money that capitalists pay them in wages is a depreciated, swindling currency in more than one sense. A dollar to-day brings less than half in commodities of what it could purchase ten years ago. The enormous, exorbitant advances in the prices of every necessity have so reduced the buying power of a dollar, that it is equal in value to less than what half a dollar was a decade ago. In no case have wages been adequately increased to meet this increase in the cost of living. ”

“ THIS, of all times, is the time when wage-earners should support any economic movement in their behalf which promises to conserve the power of their wages. Of this there is the most imperative need. The purchasing power of money is not only constantly falling, but a gigantic conspiracy is already successfully under way to impose upon the workers a fiat currency which has not even an artificial basis of value, as capitalists reckon value in relation to money. ”

“ The worker, who has by great difficulties amassed a few hundred dollars in a savings bank as as a security for sickness or being out of work, has been robbed of more than one-half the amount of his deposit. ”