The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1874-10-17

articles for sale, aud he haa u consider
able variety of articles TO huS' y por-
tiOu of some of the most lmpnrlhlll
staple products IL exported, ahd the
price of the whole crop II regulated hS
the foreign market. The farmer re-
celves the price paid Mt Liverpool, less
the cost OF transportation and me pro-
fits Of the intermediate operators, WIN
the premium on gUld added. But the
price of those staples in the foreign
market are measured 10y the specie
standard prevailing there, and not
driven up 10y any paper iniiatloh ana
they are also depressed 10y the compe-
tition of other agricultural countries
While thus receiving comparatively
low prices for what he sells, he has,
under our currency system, coinpara-
lively high prices To pay Tor every
thing he buys, in clothing, shoes, gro
ceries, household and farming utensils,
on so on. Why is this so" The value
of an irredeemable paper currency con-
stantly tluctuates. lhe importer oi
goods, the merchants, the niannitc-
turer, when Offering their articles
for sale, first add 10 the price,
at which they would Sell
under specie payments, the premium
Oh gold. But they know also that thrN
run the risk of the ilurtlatioi
and possible depreciation of the paper
money they get for lheirgoodS, sothal,
if they sell on timr the sum of paper
money they receive in payment, when
the purchaser pays his note, may not
represent the same gold value which
the same nominal sum represented
when the sale was made. The mer'
chant or manufacturer protects him
self against his risk of loss by making
another addition to the price OF the
goods he sells. Usually tie goods pass
thu ough several hands; those OF The
iobber, the western or southern whole
sale dealer, and the retailer, before they
reach the consumer. Each one of these
Intermediates runs the same RISK OF
the depreciation of the paper currency
and protects himself by making aiolh-
er addition to the price on his part.
And who has to pay the three or four
additions to the price made by the
traders for their own protection
against the fluctuations OF paper
money? OF course the consumer; III
this ease the farmer. The price OF rv-
erything he has to buy, therefore, has
been run up not only by the premium
on gold, but far beyond that, by the ad-
diti0nal percentage covering ihe riSk
of three or four intermediate traders.
All this is owing to the nature of our
currency.
I!ut does not the risk OF currency
iluctuuton affect also the price OF the
products the farmer has 10 sell: Yes,
it does; but in the opposite way. IN"
tradesmnn who buys The farmers
wheat and ships it to ST. Louis or Chi
caeo, the grain merchant who ships it
to New York, runs the same risk of
currency iiuctutation also, and try 10
protect themselves. But they cannot
put it upon the priceOf the wheat they
have bought, for the reason that the
price of that wheat in New York aud
Liverpool is determined by the market
there, which market is controlled by
the competition of all the agricultural
countries oi the civilized world. How
do these trades then protect ttfen-
selves" BY deducting thf percentage
necessary to cover their risk from the--
pricc they pay 10 the farmer. The
farmer ilatters himself that If gold
pocs up he gets for his products the
DpnpiltS ti lit hlShVi premium w
gold.s But the risk Of the tradesman
who buys from him being deducted,h h"
gets Il considerable percentage less than
the full premium; while on the price
of the goods nc biys the risk
of the tradesman is added to
the premium and the farmer has
to pay very considerable percentage
over and above that premium. Thus
the farmers candle bIIns at both ends
The character Of our paper currency,
in consequence of its imitation, blows
lip tie prices of everything the farmer
has to buy and the same thing runs
down the price of all he has t" sell
When he buys a thing the risk OF cur
rency initiation is against him ana Oe
has 10 pay for it. When he sells his
products, the risk of currency infiation
is against him, for it Is deducted from
the price he gets. Even under favora-
bic circumstances, the farmer docs not
make much over and above his eX-
penses. But under such system of
currency he makes Still less, If any
thing. No wonder, therefore, the far
mer does not flourish.
Now it is evident, tie more such
currency is inflated the more it will
fluctuate, the greater the risk 10 cover,
aud the heavier the burden on the
farmer 1t is, indeed, pretended that
farmers who are in debt, who have
mortgages on their lands, woUld be
benefited by imitation, in so far as in
fiation would depreciate he currency
and the debtor would he enabled 10 pay
i'm dollars of less value. Leaving the
morality of this argumen out of the
question, IL is easy to shtw that this
would in the long run not benefit the
farmer at all.
ApvICEs from Washington show
that Rio FREQ came into tie CHEYENNE