St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-09-10
wheat aud silver.

To the Editor of the Globe;
A Minneapolis correspondent requests the
Pioneer Press 10 discuss the following sub
jects:
First-The connection, if any. between the
prices of wheat and silver In both there mas
been rapid decline. and, as things are, there
seems to be little promise of a turn ia the tide
Second-What efa4t would thei coinage OF
silver have upon either or b"tn or these commodi-
ties? By tree coinage is meant system III re-
spect to sily err similar to that practced with
gold the returning the deposItor of bullion Its
equivalent in weight of coin.
1t Looks TO me that these questions are
plain. pointed and well put. Are they
swered by that paper intelligently? l said
the Press was ignorant of the laws that gov
ern the production and price OF silver,
and the article called forth by these
questions Is proof as strong as holy writ.
The first admits OF a responsive answer!
No; only to a slight extent, because, While
it says both have greatly declined, wheat
has declined the most. There never was a
time when a silver bullion dollar would
buy as much wheat as for the past year.
Wheat has declined because there has been
large surplus; silver, because its uses have
been restricted and curtailed. Gold has APP
preeiated because the field for it has been
enlarged. The same law will hold good for
any measure of commodity as well Us value.
Restrict the yard sticks of st. Paul or Mime
apolis to 100 and yard sticks would rise,
whether made of gold, brass or wood. We're
there but 200 gallon measures allowed by law
in either city, and they all tin each would be
worth more than the gold that it would take
to I'LL it.
If there is any connection between the
two it can only prove but one thug, that the
value commodities will, as a matter of fact,
follow the value of the actually circulating
money among the consuming masses, and
not the value OF gold which circulutes only in
theory The second question is not answered
at all 1t would have the most marked
effect not only on wheat, but upon our
commerce, and this, the New York Sun
is farSighted enough to see while the Pioneer
Press cannot behold it on account OF Its mined
eyes. Ii we had free coinage. every dollar OF
the So 600, 900 mined last year would have
been coined, instead of S24 900 being dis
posed of for SIS, 000,0u0 as bullion. rms L
think no one would dispute, because under
our silver certificate system we would use
vastly more money than we have. The rest
of the world produces about the same amount
as we do, and this is in the other American
states. Last year we imported over Ssu,UO0.OOO
from these countries. Had we free coinage this
sum would have reached SlOe, UUO.UUl- Wnat
would we pay for it in? Why wheat and other
goods, of course. The South American would
have been a fool to buy goods in England
with silver at ~ cents when he could get his
goods as cheap in New York and get 100
cents for the same silver. l think the above
as clear as any other proposition. Now wish
to make another point just as plain, and mat
is that if we sold our goods to South America
for its silver, we should do more to revive
American commerce than by all other acts
of legislation put together. A margin OF 2S
cents would be worth more than all the
tariff tinkering we are liable to get for the
next ten years; it would do more 10 solve the
labor problem than Prof. Folwell-in
short, it would set every industrial energy to
work at once Why? Because, if the silver
came here it would stay here until we got
our price. England would not, as now, sell
her goods to Chill and other South American
states. and take their silver, but she would
be compelled to come here with her gold and
buy her silver at our own figures. Neither
of the eastern continents produce silver to
any great extent-probably not in excess OF
| SIS, 600, 900. Free coinage is just what would
give the United States pass into every
Asiatic port with our goods. Ii We expectio
trade with those nations we must take from
them such money as they have. and when we
receive silver at 100 cents on the dollar, China
and India will be enabled to exchange both
goods and coin with us. Let the state con-
Vention nail Free Silver Coinage" to the
mast and fight the cause of labor and ''anti-
MONOPOLY and labor reform in silver
ermor FILLMORE.