The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-08-26
THE PRICE or SILVER.
The Advance lin. II wider Hearing Thai
Some People Think.

The Advance has u wider Hearing Than
Some People Think.
Mo- York Sun.
The advance In the price Of silver from
ninety.iour cents to $l.2O per ounce has
a wider bearing than seenis to be gener.
ally appreciated. There is n general dis.
position TO sec In this new departure
merely q variation 10 the amounts Of
currency or q speculative phenomenon
incident to n great aud sudden advance
In the value o fan important commodity.
WI have heretofore. In round mum.
beers, exported 20, 900, COO ounces Of silver
per annum, the remainder OF our pro.
duct being absorbed by Government
purchases and by use in the arts. For
these 10000, 900 ouucea there Is now
opened a market OF home, and II would
seem at first sight as II for their former
export to pay II debts abroad We
should have to substitute q correspond
ing export OF gold, bu. this is not the
case. III our three staple exports, pc.
troleam, cotton and wheat, We comeinto
competition with silver.using countries
exclusively, with the exception OF Aus.
tralia. Egypt and India supply cotton
and wheat TO Europe, and, with deciin.
ing value OF silver In terms OF gold, go
long as We were on q gold basis those
countries were competing with US at q
tremendous advantage.
This Is proved by the enormous in.
GREASE Ia the exports Of wheat md cot.
ton from India during the last few years.
By causing the appreciation OF silver, as
measured in gold, We make Indian
wheat and cotton cost Just &c much
more as the rise ia the gold price Of sil.
yer measures.
OF course VIC can not expect TO get the
full measure OF this advance. The augu.
mcnted price OF wheat and cotton In
India and Egypt must, 10 o certain ex.
tent, regc. In order to meet tho increased
competition from America. But Euro.
pean markets will rise in sympathy with
the higher cost OF theBe exports from
those countries measured, In terms oil
gold.
OF our cotton crop We export in
round numbers 100000 bales, and oil
our wheat crop from 100000, 900 to $780,
COO, COO bushels. 1t is fair to assume
that tho advance under normal condi'
tons in the price OF the ~cxporsahle sur
plus OF these two staples would reach
twO.thirds Of the advance in silver, al
lowing one.third to DO taken of the in
creased standard for Indian and Egypt
ian wheat aud cotton, to enable thsst
countries to export ct all.
As against the export OF 20,000,00(
ounces Of silver bullion We have there
fore the enhanced value OF the e1porta
bic surplus Of wheat and cotton, to say
nothing OF oil.
Assuming that we receive two cents
per pound more for our cotton ont o.
The now inevitable 80 per cent rise in
the value OF silver, we ghouli thus have
$40 per bale added to the value OF the
exorbitant surplus OF cotton, and thus
the country would receive from Europe
$4,000, 900 moro than it has received FOL
this staple previously. The same calcu'
lation applies relatively TO our surplus
OF wheat and oil.
We believe it will be found that this
new value Of silver provides the true
protection to our agriculturisis. And
the differences 10 be drawn from these
facts are plain. Given 100000, 900 more
in the pockets OF the farmers, and it il
safe 10 argue that an activity such as We
have not witnessed in years in this
country must follow in oil lines and
r~amifications OF business,