Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1890-10-17
Bankey Kennedy, 4 lincoln County Republic
an, Denounces the Administration
Siluer BiM
And How AdUocates Legisiation to Keep the
Price Of Wheat at Dollar
Bushel.
A LAWYERS OPINION.

as TO my opinion OF the present silver
law.
stated last week that was in. favor Of
the free coinage of silver. The present
law, in my opinion, has had the effect of
enhancing silver merchandise including
bullion, at least Is per cent. If the
silver merchandise including bullion, Of
the United States, amounted in value, at
the time of the passage of this law, to u,
0OO, 600, ,OOO. the effect of the law would be
to increase the value Of this property
$3.50, 900. 900. thus placing into the
pockets of the owners Of silver merriam
disc and silver bullion, the sum of $3.50, :
OOO, 600. This was an immense gratuity
for government to give 10 one class of its
citizens.
The men who hold this silver merchan-
disc and silver bullion are the silver
merchants Of the United States and the
bullion dealers, class Of men already
wealthy and not needing gratuity on
the part OF the government. Notwith-
standing this immense amount of value
given them by the government in enhanc-
| ing the price of their merchandise, we do
not find that the laborer in the silver
mine and the silver-smith working at his
forge in making the silver article Of
merchandise, has been raised one cent.
Hence the effect of this law has been to
favor the wealthy and in no manner assist
the laborers and producers Of that
wealth.
This, in my opinion. was brought about
by the government placing the value Of
the silver ounce at 81, 90 cents instead Of at
lower value. Another great objection
to this bill is provision which will in
the early future, il allowed to stand,
practically demonetize silver. This pro-
vision is, that where the contract pro-
lvities that it shall be paid in gold coin,
silver is not a legal tender for the pay
ment of such a contract. The practical
working of this provision will be that all
the banks Of the country will see to it
that all obligations to them shall be pay
able in gold coin, and in y very few years
if not months, silver would cease to be a
legal tender for the payments of contracts
to them, thus practically demonetizing
silver and practically driving it from cir
culation and defeatieg the very end for
which the 'free coinage" of silver was
designed, increasing the circulating me-
dium.
The government has helped the silver
men out in good shape and it is only
justice that they should now help the
farmers out in sim liar manner which
is both practicable, and feasible. The
farmer is the basis of the national
wealth and we all depend upon him for
our prosperity, and any law which will
assist the farmer will assist the whole
people. The food products of this
country are convertible into cash with
equal facility as the silver products are.
This is an exporting country so far as
food products are concerned. If it were
not for this fact the food products ofthis
country could be regulated so as to pro-
tect the farmers from the competition of
the cheap labor Of Russia, India, Ar
gentine Republic, and food exporting
countries Notwithstanding the fact that
the export does not equal one tenth of
the food productions Of this country
Experince has demonstrated the fact
that it costs 81. per bushel to produce q
bushel of wheat. This being true, a
bushel of wheat should never sell for less
than 81. If it does, the producer is not
paid for his labor. Wheat would always
sell in this country at 81. a bushel to the
producer providing this exporting sur
plus could be so controlled as to prevent
it form fixing the price to the whole
volume of TODD products produced. How
can this surplus be controlled?
The amount of the export of wheat
from Atlantic ports to Europe from
Sept. 1st 1889 to Sept. lst 1890, was less
than S per cent. of the production of the
country. The government, by acting
toward this surplus in the same manner
they have toward silver, can effectually
control the price of the whole product.
Let the government establish great ware
houses on the Mississippi and Missouri
rivers, then through its agricultural de-
partments ascertain from past experience
what would be the price of wheat and
other food products for serious of say
five years and this experience would show
that at some period within those five
years, wheat in foreign market would
justify the payment ofS1. to the pro-