The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-10-16

NO 81

words. put silver on uu equality with
gold and it viii DO equally vl1uabie as
gold ELr WaeeleF 1sIzss tsgYho dslnnnda
itT- auswers Five million farmers
and wCFEiugzueD, who are tired OF SEQ
ing the valus squeezed out OF their
property, and the value in labor, OF
their debts Increased by the apprasin-
zion In value Of tho gold dollar And
they neither own silver minea nor want
an once They simply demand justice
and q return 60 the money Of the Amer
lean constitution.
Ne. Wheeler then gives hia uu3or-
tunata wheat illustration In which he
dlsproves ali his former es1ertious- He
says ''India g., asd haa -boon. Tor many
years, the principal com pc tltor. ia. tho
wheat msr}zet with which tbs United
States haa had 70 cdnteud.- Indis hslnF
on silver basis Europe in buying In
diE's wheat has bought silver by the
ship load at its market price In gold
and shipped this silver 60 Iudia and exc
changed It for wheat As @ matter OF
fact the lower the prigzs OF silver tho
1aore OF it could be bougbt for a dollar
IN gold. hence the more wheat could DO
bought with Europs'B gold converted
into silver, aud ths norc wheat a silver
dollar trupee) would buy iu India, OF
course the lower tha price In the United
States" Wen uevcry Did you ever2
That is precisely the argument an ad-
vocate OF free e1suuEs would use. Let
us aualyze It. India IS q country in
which money Is commodity, the
value OF which is h1led by the CONNER
ciaI world, the basis OF which IS silver,
and by this (silvcF) the value of every
article Of commerce and trade IS fixed,
and this is true OF gold, whether but
lion or coin, etc" Funny, is lt Eutf
Here is a country with a large com
merce and a commercial world, all
O. D.. M. "a
Mr.. Wh-elgr's money becomes she uuup-
odcs of tho money he describes iu the
beginning OF his article So foolish are
the Inhabitants OF India, and such COM
tempt do they entertain for our com
mercial world they put a value Jt their
own upon our hEed value, gold. and
England and Europe are able TO buy so
per cent more wheat with Anne ricun
silver, bought at its market value, than
/ they could with the gold they pay ms
/ for such silver. IL occurs to mo that n
we were 20 issue n legal tender papor
dollar for every 8zl 25 grains of Amcri-
] can silver and store such silver in our
vaults, so as 60 keep tt ont OF the
reach of England and Europe, We
would not only increase our circulating
media by q fe " millions annually but we
would retain possession OF our silver
/ and raise the price Of our wheat so per
/ cent; and free coinage of silver, 10y ne
Q once making every aIL % gEalua OF nll-
/ yer worth one dollar, would have tho
/ same effect Does &c ever occur 60 Mr..
/ Wheeler that England lrnowE thing
[ or two2
Perhaps Mr. Ernest Seyd, vhcu he
/ came over here In 1873 with o purse OF
| $500 600, was perfectly aware OF tho
/ kind of a trap he was leading us into,
| aud that England wished not only 70
/ appreciate the value of her interest
. bearing American investms uts, but also
was maturing her plans 60 buy her
breadstuEs for 80 per cent less than its
. value.
have ulready disposed of the idoa
| that free coinage would stimulate the
. working OF the silver mines and i'm
creRse their output and it cannot bI
] called sound business logic to say that
/ Increased production of anything will
increase its market price, by showing
that under free coinage the COM
modify or market value of siI-
yer would be merged into tho coin
age value Besides, the argument ia
Just az applicable 70 the free cainngG of
gold. Air. Wheeler thinks tA-t ouI
money market must be the one estab-
Lshed by the joint commercial law of
nations Poor India i suppose. is moi
in it. by the Eay, who esta blished ina
dia's money basis for her2 And who
coins her rupees2 Queen Victoria i'
empress OF india "d0u't-chsr-lzuuyy
John Bull Is chuclliug in his sleeve
aud wc-EFell we can console uurselvei
with a study Of Pucl-'s motto, '-Whu1
fools we mortals ba.a-Gsorgs q
Ward, in American Banker.