The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1891-10-07
STEWART TO SHERMAN.


Senator Stewart Exposes the Sophistry of
Senator Sherman's Letter IN Reference
20 the Farmers of Ohio.
Senator Stewart writes the following
confounding reply to John Sherman's
of Ohio We ask for it most patient
reading:
Hon. JOHN SHERMAN.
Ny DEAR SENATOR: IN your letter
of July you do yourself great injus-
tice. Your declaration of your inca
pacity to appreciate the plainest of
financial principles has taken the coun-
try by surprise. You say:
/ can appreciate the earnest demand
of the producers of silver bullion that
the United States should pay ST. 90 an
ounce for silver bullion, which in the
markets of the world has been for
series of years worth only about 81 an
ounce-sometimeS little more, some
times little less-but can not appre-
ciate why any farmer, or other produc-
er, should desire that the government
should pay for any article more than its
market value It would be much bet
ter that the government should pay 81
less, but no sensible farmer would de-
sire the government to embark in such
an enterprise.
WHY FARMERS DESIRE TO ENHANCE THE
PRICE,
Can you appreciate protective tariff
to enhance the value of commodities
which the farmer is compelled to pur-
chase? Can you appreciate the duty
on tin plate levied for the manufacturer
before any tin to supply the market
had been produced in this country? If
so, it seems strange that you are unable
to appreciate why the farmers desire
to enhance the price of silver, which
controls the price of farm products in
the European market.
1t is unfortunate that you have not
learned that the competitors of the
farmers of the United States in the
European market do not produce
wheat, cotton and other products on
the gold standard, but use a cheaper
and a. larger supply of money than such
standard can furnish. If you had not
been too much occupied with other
matters you might have observed that
the average price of wheat per bushel
for many years has been equal to the
price of 371I grains of pure silver, the
amount containe d in the standard dol
lar. You would also have observed that
when the price of silver last autumn
rose to 81. 81 an ounce there was cor
responding rise in the price of farm
products in the United States and a
falling off of exports from India and
other Asiatic countries
WHILE EXPORTS HAVE DECLINED.
1t is strange that you should not have
inquired the reason why the exports of
wheat from Russia, India and the Ar
gentine Republic to Europe have so
enormously increased during the last ten
or twelve years, while the exports from
the United States to same European
markets have so rapidly declined. Per-
haps you differ with the views express
ed in the investigation before the royal
commission of England on the recent
changes in the relative values of the
precious metals, wherein it was claimed
that cheap silver stimulated pl oduction
of farm products in India for the use OF
England, while it liberated the people
of Great Britain from paying tribute to
the farmers of the United States.
You might be better able to appre-
ciate the desire of the farmers to raise
the price of silver if you had taken into
consideration the fact that the surplus
products which they sell in Europe de-
termine the price of all they produce,
and that they are compelled to sell in
the European market in competition
with the Asiatics, who produce on a sill
yer basis, while they are require to use
gold in their production. The Asiatics
receive the same amount of their
money and little more than they did
before the demonetization of silver,
while the American farmer receives
about 80 per cent. less of the money of
the United States than he did while
gold and silver were coined without dis
elimination against either.
Are the farmers unreasonable in OBJ
iecting to the demonstration of silver,
which placed them at SO great a disad-
vantage in competition with the cheap
labor of Asia? Why should they be
compelled to compete under such cir
cumstances with the cheap labor of
the Asiatics, while the manufacturer is
protected from competition with the
labor of Europe? Why should the