Telegram-herald., 1890-02-20

n i5s4 snd 81 II iSSd
II his diagram OF prtoos based upon william
n GrOsvenOr's tables Of prices for 10 leading
commodities, taxing $50 a. 100 Ar. Stark
sho~s Ike r1selts. only prices on this side. as
N ght Dc expected nom the ANAL volume Of
NOISY and LAc hoar':ing of gold for resumption,
went somewhat lower II 1875 than kncloated by
Mr.. Sauerbeck tables for England. showing q
fail from 1873 10 1878 o; II per cent, or rse Of
% per ceaL Il tho purchasing power OF gold n
iSSo prices had fallen 7 per cent. below the level
Of ISIS, or 20 per cent. below the level Of 1880
and a. present are mcsc than 80 per cent. be
low the level o, $3.50. which means that gold has
Increased in purchase power 50 per cent since
isD
The percentage Of gold prices Of staple ar-
ticles as given By tho Bureau OF Statistics, TAX
Ing 800 a. 100 are:
For 1851 S5i...-.......... %
For l-6o i23
For 1878 ACKNOWLEDGEMENTS. s.
And for 1888 the range Is a, least 10 per cent
lower than tor 1919
Tables published by the London Economist
show that 81 TO IN gold w5nlt bay as much OF
seventeen leading articles stated IN 1880 as - l55
would n 1878, but that the same quantity could
Re bought in 1853 With s., ST. and even less would
BE- required now.
Tables given By the royal commission for isSS
show substantially the same results.
According 20 Hr. Sauerbeck- prices for 1888
are lover than for 100 years, and English wheat
as Mr.. Frewon points ou., 4, 81 per cent below
th- average and lower than since 1901.
Mr. Frewen significantly asks II the world
with its thousands Of millions OF debt IS going
back u the prices OF the fifteenth century,
But the eject OF silver decentralization on the
price OF wheat and cotton IL OF special irnpor
tance from the relation Of these products 70 the
price o, the sane products n India The
mtnts OF India being open 70 the free coinage
OF silver, silver bullion IS OF course, there sub
stantiaIly a. par with silver coin. The money
unit IN India the silver rupee, is equal TO about
9shillings English money, or q little less than
80 cents our money.
Discarting fractions IN converting rupees into
sovereigns, and counting the shiuings 81 q
coats, We have the following equivalents IN
prices In Ind.a and the United States, silver
bullion belt, II par with coin, At the India
ratio OF Is 20 1.
Rupee-es 500.
10 Rupees-&i - 500
Assuming wheat 20 De worth IN India : shfl
Nngs bushel and freight 20 Liverpool 10 bo 1
shilling. We have:
Wheat ss-iH Rupee-SN
Freight ST. .oS.
Cost Of India wheat IN Liverpool -
Rupees - 81.
pound sterling, therefore, with silver Of par
with coin as above, would 10y down IN Liver
pool only I've bushels OF India wheat But
with silver bullion az its present price. pound
sterling viii exchange FOR bullion enough 20
make, say i3 rupees. Consequently the Liver
pool buyer can ret sir and one-haf bushels Of
India xhest FOR hts sovereign by first exchang
ing tt for silver bullion and taking that TO the
nints Of India and unless he can get as many
bushels FOR the same amount OF gold in the
United States he viii buy in India Hence, to
the extent Of Iniia's ability TO supply wheat
and cotton, every fall in silver is attended with
n fall IN wheat aad cotton. On the other hand
with silver bullion a. par With gold al our ratio
wheat will rise 20 the former India rate Of five
bushels 10 tho pound sterling, or In other words
be dollar wheat here
The loss 70 the wheat and cotton growers
from this cause since 1873 must be counted by
hundreds Of millions and the loss 10 the coun-
try OF the wheat aud cotton exported by tens
81 millions annually. ION ,his head see valus-
Die statistics BY Ivan c. Nchels.l As on no
class has the loss from silver demoneuzation
fallen more heavily than on the cotton planter
nad the wheat grower. 50 70 class would be
more directly or more Immediately benefited
than this class and these industries.
The exports o. wheat and wheat -four from
ths United states fcU in value from 1923 0Oo,Oo0
for he i've years from 1s1s 20 1888 % s59i.CoO-
GO FOR the five years from is63 70 1888, showing
sArfakagc in FIVE years ~ $50. 5000
Il Is common 10 s1T that only silver pro
11oFrH
20 is immemo-.al plaza They need 1t less
than any other class producers II the
fa--,ers a11 planters viii make estimates Of
what they have lost during the past seventeen
years through the decentralization OF silver
f7r the fau In price can % r.ghtsully ascribed
20 nothing olss-they viii sec how much more
they have lost than TIE silver producers. and
how much more they vii gain bT is restoration
thar tne silver producers
Government. backed oy Greyt Britain. has
stretched 1000 miles Of military railroads
through ths wheat AMI cotton lands of India
and 100000 acres have been brought under
the plow.
rrelsrd strikes with . double edged sword
a. both Infi1 snf the United states. by her
z1ii standard and midas silver standard. she
i able - reverse natural lav-to obtain
prodno1s rom India cheaper than from the
T-nlted states and thus force American work
80 Who feed. cioth- nd educate their chill
t-~n. into unequal coup petition with tho wretch
- Z the Orient Ssii SIR r. Y Fowler, IA an
srvunen, a. meeting ot tle British and colo
MAJ board p trade opposing = s~rsoiution favor
fuv a riruetalic policy ~ England.
'H ". continue th-s pohcT fe- years
longer rs oaa --lin she wheat and cotton indus
try - the f-1ifed states snf build up india "a
tne n lsf exporter p those staples"
The burden ~ The testimony before ths royal
TnTlisa CONN s.cn nat so 'cT months on
ths sau@stIcn o. the e-ect q the recent changes
n -. precious rastals -ss nat tEe continued
ssu,orrtizstion ~ silver rouf be ruin - ths
se-iru.taris.s % ne Uaifed sfates
Tie condition ~ the great Agricultural n
fsreg-s ~ our country ~ss eesrscferi zed o7 tbe
r--=sfent n the Natlonsl Farmers co1zress
svo years 40 n ~ address hefc-. thst nofT
"a q, ,st deplo~ah.e ard it a -r.n worse to-dar.
'or prices = the great stsple produc-s q Aus--
ics1 arms bsv- declined - potut vnica
caves 80 Increment ~ prc6t - - P7ofucsrs
- ths f,of snt - - rsr u-s-e-isi 'o- -
cl0thi.r - a. rNa -~r-'-
No ro-.ler 1r-.ces .lxs 80 ,1I7~ing e. -.
ruclic .-u~as
Hss0 r-Ess ~ ErvT-~EF FAsNFEs
E0r.asvuEE Ky Tsn - 80 Spe
~ TIE fs-7s s-f sous~s - ~ persons
w. ssit - she sae-fT to-ssr f-- avs. wo~t
- the-a ~-~~ oo-zht n 1v ne sh~ri- '-r -
sta-.
or 80 Wss--~- ~-ft-T ssTs
P~'r-- ~ 'r--r sns ir~rT r-s~ -v r-sr. -
- -rT - rcrrl..-t -~--1 - z~sss -i-re -
1r'sucers - sssf 1~cr-1i-s va ~ i-epa'r
N-r-Fscrs RI ->- fa--s -~-r a t'e olt N1~th
- sesf~S ta~s frnrfsf T---F,1ts 20 ttcs-
.sr-,s ha~s zrr= =, sare th~-sTh t-rr-a-sur-s
- norrra~-s Hf-fr-ts -r -rtrrs sa~e a~~1
sosnstsn-d n--suzs t,erp - ~ - p~-rf r
---Eirs 49, Tess 80 sss H~~r T-frz -
~n1- - rcrnfaelou ,s@ 1@~n .srrssssaE ~
- s~rz
rs ---.s rs---ss. a. 80 rs@- - a. ---
Nsxt0nal D~-sr@rsr .as 49, -rzs<-6
So s,1fsfr1.- ~ rfse srsfe~-s- sus n --rr
81 -sn org z-.To~- rs-n thr-nss r~S-ess -
au~7ss ez-s er,ou e = pe-nf-ref - t-czv
v-T~E7 - s~~-w