Fergus County argus., 1890-09-04

The Enhanced Price Of Silver Will Bring
Millions Of Dollars to the
United States.

The New York sun publishes the fol-
lowing double loaded leading edit Orial
on the beneficial effect Of the silver
law:
1.-The advance in the price of silver
from - cents to $ 30 per ounce has
a wider hearing than seems to he gen
orally appreciated. There is general
disposition to see in this new depart
ure merely u variation i'm the amount
Of currency or u speculative phenom-
enOn incident to II great and sudden
advance in the value of an important
commodity. We have heretofore. IN
round numbers, exported about 90
ON, 900 ounces OF silver per anntini,
the remainder OF our product being
absorbed by government purchases
aud by use in the arts. For these 2o,-
MDO, 900 ounces there is now opened II
market at home, and 1t would seem ut
fir sight rs !! for their former export
to pay our debts abroad we would
have to substitute u corresponding
export of gold, but this is not the case.
In our three staple exports. petroleum,
cotton and wheat, we come into com
petition with silver-using countries ex-
clusively, with the exception OF Aus
tralia. Egypt and India supply cot
ton and wheat to Europe, and with
| the declining values of silver in terms
OF gold, so long as We We're on "a gold
basis, those countries were competing
with us at u tremendous advantage.
This is proved by the enormous in
crease in the exports of wheat and cot
ton from India during the last few
years. by ,ausirg the least apprecla-
tion of silver as measured in gold we
make Indian wheat and cotton cost
Just so much more rs the rise in the
gold price OF silver. Of course We can
not expect to get the full measure OF
this advance. The augmented price oi
wheat and cotton in India and Egypt
must, to n certain extent, react IN or
der to meet the increased competition
from America, but the European mar
kets will rise in sympathy with the
higher cost of these export from those
count ries, measured in terms of gold.
Of our cotton crOpwe export III round
numbers 1000. 900 bales, and OF our
wheat crop from 100, O,OOO. 600 TO | 80,
OOO, 900 bushels. II is fair to assume
that the advance under normal con
ditiOns in the price OF the exportable
surplus OF these two staples would
reach two-thirds OF the advance in sill
yer, allowing one-thir,i to be taken of
the increased standard for Indian and
Egyptian wheat and cotton to enable
those countries to export 1t.
AS against the export oi 2o,OOO,
900 ounces OF silver bullion we have
therefore the exchange value of the ex-
portable surplus of wheat and cotton,
to say nothing OF oil. Assuming that
w. receive two cents per pound more
for our cotton out oi the now inev'
table 30 per cent rise IN the value O
silver, we should thus have SO pei
bale added to the value Oi the export
able surplus OF cotton. and thus tn,
country would receive from Europ,
$50, 900, 900 more than 1t has re
ceived for this staple previously. The
calculation applies relatively To ON
surplus of wheat and oil. W. believe
it will he found that this new value o
silver provides the true protection t'
our agricliltu urists, and the inference t'
lie drawn from these facts is PLAIN
Givel~ssysi M, ,OOO. 900 more IN the pock
cts Of our farmers, and IT Is sale t.
argue that an activity such aswehaN'
not witnessed IN years IN this count =,
must follow in all lines and ramliica
tiOns oi business.