The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-08-25
BENEFITS TO FOLLOW.

Favorable Results of the Advance in the
&3& Price of silver.
New York, Aug. M.-The Sun in double
loaded editorial calls attention "a follows
to the important results that will follow
the advance in silver: The advance in the
price of silver from "a cents to $1.1 per
ounce has wider bearing than seems to be
generally appreciated. There ID q general
disposition to see in the new departure
merely a variation in the amount OF cur
rency, or speculative phenomenon Incl
dent to great and sudden advance in the
value of an important commodity. We
have heretofore, in round numbers, export
ed about twenty million ounces Of silver
per annum, the remainder of our product
being absorbed by government purchases
and by use in the arts. For these twenty
million ounces there is now opened q
market at home and it would seem at
first sight as if for. this former
export to pay our debts abroad We
should have to substitute 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, aud
with declining values of silver, in terms Of
gold. So long as We we're on gold basis,
those countries were competing with us at
tremendous advantage. This ig proved by
the enormous increase in the exports of
wheat and cotton 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 go much more as the
rise in the gold price of silver measures.
| OF course we cannot expect to get the full
measure Of this advance. Theaaugnented
price of wheat and cotton in India and
Egypt must to certain extent react in
order to meet the increased competition
from America. But European markets will
rise in sympathy with the higher cost Of
these exports from those countries meas
ured in terms of gold. OF our cotton crop
we export in round numbers 100000 bales
and Of our wheat crop from 10O, ,0OO, 600 to
15O, ,OOO, 600 bushels. II 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 In
dian and Egyptian wheat and cotton to en-
able those countries to export at all.
As against the export of co. 600 ounces
of silver bullion we have, therefore, the en-.
HANGED value of the exportable surplus oi
wheat and cotton, to say nothing of oil
Assuming that we receive 2 cents per pounG
more for our cotton out of the inevitable 81
per cent rise in the value of silver, ".
should thus have 10 per cent per bale added
to the value Of the exportable surplus o
cotton, and thus the country would receive
from Europe $50, 100000 more than it ha
received for this staple previously.
The same calculation applies relatively t.
= our surplus of wheat and oil. We believ
it will be found that this new value of silve
provides the true protection to our agricul
turists, and the inference TO be drawn from
these facts are plain. Given $1O0, ,00O, 90
more in the pockets OF our farmers and 1t
safe to argue that an activity, such as "
have not Witnessed in years in this country
: must follow in all lines and ramiication
of business.