Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1885-11-14
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THE SILVER QUESTION.
rErom the st. Louis Christian Advocate.

LID 1xovo"
rFrom the st. Louis Christian Advocate
One of the questions to come before
congress now soon to meet, ana Ohe Vi
the most important, is that OF tne
coinage. or rather the continued coin
age of silver. Most earnest ana per-
sistent efforts will be made TO nav the
coinage partially or wholly suspended
This eff ort will be made by, II IN the
interests of bankers and other capital
lists. 1t is to their pecuniary interest," IL
ia done. But what, in this respect, Is
to their interest, will be detriment 10
the interest of all other classes,
and specially of the farmer, ana Oh
every man who has the fortune or mis-
fortune to be in debt.
How it will affect the farmer In one
way, and in a very serious way, may
be easily shown.
The American farmer is soon to be
brought In direct and strong competi-
tion with the wheat of India. Within
the last five years 1000 900 acres have
been added to the wheat growing area
of India. In 1878 the export OF
wheat from that country was 4,loo, "
bushels. In 1sS4-5 it was $4,000, Ooo.
Stop the silver coinage and the price
of silver falls, as all admit, and with 1t
win fall the rupee of India in sterling
exchage. The normal price OF the rupee
is eoual to As cents, but the average per
rupee produced by the government
hills. drawn in London on India for
four months ending, August
Is. was but about SO cents, indicating
a discount of Is per cent, which Is Just
Is per cen premium on the export o.
Indian wheat, and that much against
the American. Now let the opponenmuS
of silver coinage drive the price Oh sli-
yer still. lower, and this premium may ayS
be, and likely, viii be increased " So
per cent, ant where, then, WOulu ce
the American wheat! In lndia tnls
increase of wheat has been erected
withodt the slightest interference with
the quality of other crops; ana such
Increase will continue as railroads null
tiply and facilities for transportation
increase.
The permanent injury done to Amer.
lean agriculture by the processes OF
Presumption" called, are incalcula-
BILE. 10 avoid ruin and starvation
immense bodies Of our people were
driven west of the Mississippi river,
largely to engage in agriculture, with
the result that, while in 1860 the popu-
lation of the United States vas 3l,445.'
1921 and the wheat production lI3,lo4,-
924 bushels, or 5.5 bushels per capita.
in 1880 the population was 5O,OOO,OOO
and the wheat production 49o, o49 500
bushels, or 9.97 per capita. Wheat car
be produced in Pennsylvania for about
ST. Is per bushel; whereas 1t sold III
minnesota this spring as low as forty
five cents a bushel. The average price
of the wheat exported during the tiscaI
wear ending June 80, 1885, was eighty
six cents per bushel. Having driven
the farmer into such a position by thell
legislation and made him dependent
upon a foreign market for S4,OOO,OOl
bushels of wheat at OR below cost, le'
the gold standard men beware that they
do not finally deprive him wholly o.
this foreign market by Indian compe'
tition.
Great loss will also occur to the
debtor class of society if the opponent
of silver should succeed in their plans
They will, of course, pay only TIT
same number of dollars, but they will
find tine dollars much harder to com
at. and thousands of dollars worth o
will 60 into the hands o
creditors, at less, perhaps, than its rea
value, while debtors will SUITE
severely.
1t has been asserted again and again
by superficial thinkers, or persons,per
baps ignorant of the facts in the case
that the silver dollar is a debased,
dishonest, a clipped, light weight coir
The reply to which is: The facts WI
show that the amount of pure silver /
our dollar of to-day is exactly the sam
it has been from the first coinage l
1894, and the difference between tn
value of a gold and a silver dollar wa
made by an act OF congress winch,
its operations, gave a forced value t
gold. The legislation of 1880 on thu
subject was, to say the least, very III
fortunate. The scheme. now urged b
capitalists, money dealers and banks
will, if carried out, ultimate in tn;
curse of all healthful legislation
'.making of the rich, richer; and tt
Door, poorer" Let the people no
this and take warning in time.
We NAV be told by millionaries an
other, that we, common people, WI
see but little money and handle less, {
n,t,and cannot understand this suffice
Ii is true we, common people, nand
but little money, scarce enough
tunes to keep soul and body togethe
but then we know when we are wron
ed, when we are oppressed; and sem
times we know when we are about
be wronged, and this happens to
one of the times. We have comm
sense enough to know the value OF
bi-metallic currency as a medium
exchange; also know the unfairness
giving a forced value to one OF thu
metals, thereby deprecia,ing the va
of the other. And we, common pc
pie, have much more to say on this 81
ject.
A great cutlery is being made o'
the amount of silver coin i'll the tire
ury. 1t need not be there, if the g
eminent SO chose, the ''greenbacl
were to be redeemed in coin. Ii
are promises to pay made by the g
crnment; and it is optional with
government whether the coin, to
paid, be gold or silver. So of OF
public debts. If men are not dispo
to carry silver beyond a given amol
the government could easily afforo
hold it in trust and issue certificates
the amounts, and thus give a Col
nient and safe currency to the PEG.
But to this, the banks would of cou
OBJECT, as it would cut off a large
Of their gains.
When Secretary Sherman, i'll
annual report of 1879, taught that
silver dollar was not an honest do
he sounded Il Keynote that has
since been ringing and as incorrt
now, as at the first. That the !
Secretary, has Managed his own ii
cisi affairs very successfully, is ii
admitted, but the management of
eminent finances is quite another
different matter; and it will hardl
ccntended that the management in
$1,000 - xtat ~f th1 Dtln