The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-08-23
SILVER And TRADE.
The Enhanced Price of Silver
Will Bring
MANY MILLIONS OF DOLLARS
To the United States seeretary Window ON
the Situation-The Money Market is
Less Stringent.

Especial TO THE HERALD-Examiner Dispatch.1
New YORK, Aug 22.-The New York Sun
publishes the following double loaded lead
ing editorial on the beneficial effect of the
silver law: 1.-The advance in the price of
silver from "a cents to S1.20 per ounce has
wider bearing than seems to be generally
appreciated. There is general disposition
TO see in this new departure merely vari-
alton in the amount of currency or a specu-
latlye phenomenon incident to great and
sudden advance in the value of an import
ant commodity. We have heretofore in
round numbers, exported about twenty
million ounces of silver per annum, the
remainder of our product being absorbed
oy government purchases and by use in
the arts For these 70, 600, 900 ounces there
is now opened market at home, and it
would seem at first sight as if for their for
mer export to pay our debts abroad we
would have to substitute q corresponding
export of gold, but this is not the case. In
our three staple exports, petroleum. cotton
and wheat, we come into competition with
silver using countries exclusively, with
the exception of Australia. Egypt and
India supply cotton and wheat to
Europe, and with the declining val
ues of silver in terms of gold
so long as we were on gold basis, those
mendous advantage. This is proved by the
enormous increase in the exports of wheat
and cotton from India during the last few
years BY causing the least appreciation
of silver as measured in gold we make
Indian wheat and cotton cost Just so much
more as the rise in the gold price of silver.
Of course we cannot expect to get the full
measure OF this advance. The augmented
price of wheat and cotton in India and Egypt
must to certain extent react in order to
meet the increased competition from Amer
! lea, but the European markets will rise.
| in sympathy with the higher cost of these
| exports from those countries, measured in
| terms OF gold. OF our cotton crop we ex-
| port in round numbers 5000, COO bales, and
of our wheat crop from 1O0, goo, coo to $780,
600 bushels 1t is fair to assume that
| the advance under normal conditions in
| the price of the exportable surplus of these
| two staples would reach tWo-thirds Of the
| advance in silver, allowing one-third to be
taken off the increased standard for Indian
and Egyptian wheat and cotton to enable
| those countries 10 export it.
GAS against the export of 20, 600, 900
ounces of silver bullion, we have therefore
the exchange value of the exportable sur
plus of wheat and cotton, to say nothing of
oil. Assuming that we receive two cents
per pound more for our cotton out of the
now envitable 30 per cent. rise in the value
Oh silver, we should JhuS nave SlU per pale
added to the value of the exportable sur
plus of cotton and thus the country would
receive from Europe $50, 100000 more tnan
it has received for this staple previously.
The calculation applies relatively to our
surplus of wheat and oil. We believe il
will be found that this new value of silver
provides the true protection to our agricul-
turists, and the inference to be drawn
from these facts are plain. Given 500, 900,
600 more in the pockets of our farmers, and
it is safe to argue that an activity such as
we have not witnessed in years in this
country must follow in all lines and ramif.