The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1890-02-26

money ana the 0OatUlnS OI SOIo AoE IcSu4AAQsAou,
went somewhat lower in 1873 than indicated by
Mr.. Sauerbeck's tables for England, showing q
fall from 1878 to 1873 of 81 per cent, or rise Of
IS per cent. in the purchasing power OF gold. In
1885 prices had fallen per cent. below the level
Of 1873 or 30 per cent. below the level OF 1850.
and 1T present are more than 50 per cent be-
low the level Of 1850 which means that gold has
increased in purchase power 50 per cent since
1890
The percentage Of gold prices Of staple ar
ticles as given by the Bureau Of Statistics, TAX
ing 1850 at 100. are:
For 1851 o.
For 1855. .......................1 LIB
Z OE lo1o. %
And for 1889 the range is at least 10 per cent.
lower than for 1873
Tables published by the London Economist
seventeen leading articles stated in 1850 IS e. 15
would in 1875 but that the same quantity could
be bought in 1885 with 81, 81 and even less would
be required now.
Tables given by the royal commission for 1888
show substantially the same results.
According to Mr.. Sauerbeck prices for 1888
are lower than for 100 years. and English wheat
as Mr.. Frewen points out Is ~ per cent. below
the average and lower than since 1901.
Mr.. Frewen significantly asks II the world
with its thousands Of millions Of debt Is going
back to the prices Of the fifteenth century,
But the effect of silver demonstration on the
price Of wheat and cotton Is Of special impor-
lance from the relation q these products to the
price Of tho same products In India. Tho
mints Of India being open to tho free coinage
of silver, silver bullion Is Of course, there sub
unit in India tho silver rupee, II equal to about
3 shillings English money, or . little less than
50 cents our money.
Discarding fractions In converting rupees Into
sovereigns, and counting the shillings ut g
cents, We have the following equivalents in
prices in India and the United States, silver
bullion being at par with coin, ut tho India
ratio Of Is to I.
Rupee-2s $685.
10 RupeeS-S1 - 500
Assuming wheat to be worth In India shil-
nngs o bushel, and freight to Liverpool TO be 1
shilling, We have:
Whsssss;-lH Rupee-nM
Cost Of India wheat in Liverpool, ia
Rupees 81.
pound sterling, therefore, with silver ut par
with coin rs above, would lay Gown in Liver
pool only nve bushels Of India wheat. But
with silver bullion ct its present price, . pound
sterling viii exchange for bullion enough to
make, say, Is rupees. Consequently the Liver
pool buyer can get six and one-half bushels Of
India wheat for his sovereign by first exchang-
ing It for silver bullion and taking that to the
mints Of India, and unless he can get - many
bushels for the same amount Of gold in the
United States he will buy In India Hence, to
the extent Of midas ability to supply wheat
and cotton, every fall In silver Is attended with
fall in wheat and cotton. On the other hand
with silver bullion At par with gold Ut our ratio
wheat will rise to the former India rate Of I'VE
bushels to the pound sterling, OF in other words
be dollar wheat" here.
Wa 1<ra % hA AnA fHyS
from this cause since 1873 must be counted BY
hundreds of millions and the loss to the coun-
try on the wheat and cotton exported by tens
of millions annually. ION this head SEQ valua-
BILE statistics by Ivan c. Nichels.] AZ on no
class has the less from silver demonetixation
fallen more heavily than on the cotton planter
and tho wheat grower, 50 no class would be
moro directly n moro Immediately benefited
than this class and these industries.
The exports Of wheat and wheat -four from
the United States fell in value from eoa3 10000
for the ave years from 1873 to 1883 to S5ol 000,-
600 for tho dve years from 1883 to 1853 showing
. shrinkage In i've years Of ta9o.000.00
It Is common TO say that only silver pro
ducers agitate the restoration Of silver metal
to its immemorial place They need Il less
than any other class Of producers. II the
farmers and planters win make estimates Of
what they have lost during the past seventeen
years through tho characterization Of silver
for the fall in price can b rightfully ascdbed
to nothing else-they viii SEQ how much moro
they have lost than the silver producers. and
how much more they Win gain By it, restoration
than the silver producers
But their loss has not stopped The India
Government, backed BY Great Britain, has
stretched 1000 miles Of military railroads
through the wheat and cotton lands Of India
and 100000 acres have been brought under
the pillow.
England strikes with . ls-edged sword
ax both India and the United Statea By her
gold standard and midas silver standard. abe
Is able to reverse . natural laW-to obtain
products from India cheaper than nom the
United States-and thus force American work
ers, who feed clothe and educate their chill
dren, into unequal competition with the wretch
Is Of the Orient Said Sir r N. Fowler, In IN
argument at . meeting q the British and colo
NAL board q txade. opposing aresolutioo favor
ing . otmetall1o policy b. England:
II No continue this policy . few yeaED
longer Ne can ruin the wheat and cotton indus
Try Of the United States and 6u11a up India =
tho chief exporter Of those staples"
The burden Of the testimony before IL royal
Engliah eommiasion, that sat for months On
the question q the eject Il tho r0cent changes
In tho precious metals. was that the continued
demooeti1axioa a silver would b Eudn % tho
agriculsuz1sss q tie United Statea.
The ooad1&1m q ~ great aGElgultuK1l h.
toEeoto q 0uR ouuntxy wos ohazo0togi1od b u
pgoG3dont q ~ Nukiunal YSxDmP onnUom