The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-06-29
yield will not be one half an average
crop. We would refer our readers to
the testimony upon our eighth page.
And yet wheat rules low.
THE GOLD PREMIUM i BONUS ON
WHEAT RAISING.

Alas! We fear we will have to use
the augur on Perrine's Uranium after all.
In our discussions as to whether or not
the premium on gold acted as bonus
on wheat-raising, we supposed that Per-
rine raised 1000 bushels Of oats and sold
them in New York tor greenbacks at a
home-marAet price, while we sold 1000
bushels of wheat in Liverpool for gold
for $500. We said:-
We ship our wheat 900 bushelsl to Liver
pool and sell it for, say, 81 so i'll COLA OF 81 $40
We bring our gold to New York and exchange
1t for 81 ,695 il greenbacks. Has not the pre-
MUM OF Is per cent or Si95, been added to
the price of our wheat! Is it not bonus on
wheat raising.
10 which Perrine replies:
No yon great blockhead. Not a penny has
been added to the price of your wheat. Your
81 800 in gold is worth lust as much-as yonr
resumed and you exchanged Your gold for
greenbacks you would get $1,000 instead Of
81 ,695; but that 81 500 would buy Just as much
sugar, clothing, farming utensils, or whatever
else you might want, as 81 sos Twill purchase,
as things are now. Hence there is no advan-
tage, no bonus whatever to the wheat
grower III the premium on gold. Q. Z. d.
This is melancholy! Let US try to put
the matter in another shape
Suppose Perrine sold in St. Paul $500
ofeggs, poultry and garden stuff, for
greenbacks; and we sold $500 OF wheat
in Liverpool for gold; and we brought
our gold back to St. Paul and exchanged
it there, as we readily could, for Sl695
in greenbacks.
Now, Perrine, rally all your mighty
faculties and attend: Suppose you piled
up your $500 OF greenbacks on one end
OF table, and we piled up our $685. of
greenbacks on the other end Of the table !:
,could ne not hare Slo5 more Of grecu-
backs than you?
1t is not questiol as to whether
$500 OF gold is or is not the equivalent
of $685. of greenbacks. We concede it
is. But the question is, whether sl695 of
greenbacks is worth more than $500
of greenbacks.
Try it another way,-for we do not
want to resort to the augur:
Suppose the premium on gold rose to
| 80 pr. ct. instead of Ii per CT. Wheat
would at once rise 50 per cent tor the
simple reason that it would be shipped
TO pay debts abroad, just like bullion
while Perrine's eggs, poultry and gard
en- stuff might, if the times grew worse,
sink in value. as they have during the
last three years while the gold premium
rose FROM 1O9 to 10. As these articl es
are not articles Of export they have no
necessary connection with the price OF
gold. But suppose Perrincs eggs, poul-
try and garden stuff to hold their old
prices then for $500 Of these articles
he would have $500 in greenbacks
while we, for $500 worth OF wheat, gold
price, would have 2225O Of grcenbacks.
Would not that $50 Of difference be a
permiun on wheat.raising? Would no,
wheat in st. Paul boundup so pr. Ct in
value, because it could be used in Eng
land as an equivalent ofgold which had
risen 30 pr. ct. And ii we received
! 30 per bushel for wheat worth yes
terday 81 90, would not that 50 cts. be
our advantage over men who raised
articles the price Of which was deter
mined solely by the demand and supply
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