The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1875-09-06
GOLD AND THE WHEAT CROPS.

The following is very clear explana-
ton of our statement, made in the Oppo-
sition Convention the other day, that the
wheat and meat raisers of the Northwest
are benefited by the premium on
gold:
There are two classes of men who suffer in a
special degree from a deprecated currency,
namely, farmers and those who labor for daily
wages. The first, because they are obliged to
sell their surplus grain at the gold prices
as fixed by the foreign market, and buy the
necessaries OF life at the inflated currency price
Indianapolis Journal.
Now see how few plain facts will explode
this miserable sophistry On the 18th Of the
wheat was quoted in Liverpool at eleven shil-
lings per central or 100 pounds, equivalent to
sl.68 per bushel in gold. On the same day the
same quality Of wheat was quoted in the New
York market at 81 .48 per bushel in sreenbacks.
Now suppose that farmer A. of Indiana, deter
mining to do his own shipping and his own
marketing had arrived in Liverpool on the 18th
with 10, 900 bushels of wheat He could have
exchanged the 10000 bushels for sl5, 800 in
gold, either in English sovereigns, Louis d 'ors,
American eagles, or gold in bars, it would not
matter which, (and let the Journals stick pin
there.) The next homeward bound vessel
brings farmer A. to New York with his Sl5, 500
of gold On arriving at New York he steps
| into bank or brokers Office and sells his gold
for Sl7 ,S5A in greenbacks, reckoning gold at 1a
per cent. premium which is the premium ii
bore on the day named above. Now Sl5, 500
was ''the gold price as fixed by the foreign
market" but does not farmer A. get g O54
more of legal money, amounting in all tc
81, ,S54, which is the greenback price, and does
not the astute editor of the Journal see that he
is making fool of himself by uttering sucl
bold and glazing sophistries as is contained il
the text we quotel The truth is, that the New
York price OF such of the farmers products a:
are destined tor foreign market is the gol6
price eth the premium on gold added, which
constitutes the greenback price. -Indianapoli
SRa.
Men loaned money. greenbacks, t
the people during the war when gole
was worth $50; or or eenbacks wortl
less than 40 cents on the dollar. Nov
they want to collect their mortgages a
par; in other words to get back their n
per Ct, and 90 per Ct, profit and inter
est at high rates on 100 per Ct. of nomi
nal principal. What is the result TIL
: New York Tribune OF August 10th
said:
"Since May an unusually large number @
foreclosure suits have been instituted agains
} persons failing to pay interest on their real IS
, tate mortgages in this city and Brooklyn. tn
number Of defaulters is especially large i
, Brooklyn, and, it is feared by real estate hrt
kers, the number will be still larger in tn
city Nov. /, when the next semni-annual in
tereSt is due. A gentleman against whom
foreclosure suit had been instituted, said to OF
reporter: sLet them have the property. d
not wan to throw any more good money afts
bad money. What is the use of continuing
pay interest on property which we cannot Sc
for neatly half its cost There are others lin
: myself, and while there is no chance of sellin
, anything, it will be impossible for gre.
many Of us to continue to paw the inieres
Whenever the real estate market revives "
will be able again to take care of our NOR
& cages The class of property thus hrougl
+ under the hammer by foreclosures is anon
: the best in the city
= And the New York Tribune. unde
: the inspiration eff Jay Gould wants til
d process OF crushing out to continue.
: What say, the people?