The midland journal., 1891-08-21
What the Demonstration of Silver
Has Cost the Farmers of the
United States.

the statistician of the U s. Senate
Committee Of Mines and Mining, whose
figures will not be questioned by any
one.
Since 1873, the date of the demon
etization of silver and the adoption Of
the single gold standard, the silver mine
owners Of this country bad lost on their
product about 500, 900. A great
deal of money you will say.
The wheat growers Of the United
States had lost oper nineteen hundred
millions.
You see, your wheat growers are
losing money by the demonetization Of
silver 10 times faster than the silver
mine owners.
The cotton planters have lost Over
so, O,OO0,O 900 since 1878.
He has the figures to prove his state
ments, and no one disputes the statistics
Of Ivan C. Michels.
Do the farmers and planters Of Amer
lea know why their wheat and cotton
are not bringing better prices? Did
they ever hear Of India Council Drafts?
By the sale Of India Council Drafts
in London every Wednesday, the price
for silver bullion is Fixed in America.
The rupee Of India is worth in India
about 2 shillings sterling, or about 4S
cents and is a silver ooin.
India is compelled to pay to England
about ssO,O0O.O00 per annum for the
support of the government. Council
drafts payable in India in silver rupees
are sold in London at the rate of about
16 pence in gold per rupee or about
80 cents.
The price of wheat in India has
averaged about 96 cents per bushel-
or 2 rupees-for many years.
But the purchaser in London Of
India Council Drafts is able to buy a
bushel of wheat in India at a cost to
him of about GA cents.
1t costs him to deliver the bushel Of
wheat in Liverpool about Is cents. He
is able to enter the Produce Exchanges
Of England with wheat at cost not to
exceed 81 cents bushel.
The statistics can be produced to
prove that American silver demonstiza.
tion laws have cost the wheat growers
and cotton producers Of America nearly
s5.0OO,00O 900 since 1873.
In 1873 India exported less than
10000 bushels of wheat. In the same
year the United States exported 1853
million bushels.
In 1883 India exported about. As
million bushels and the United States
exports of wheat had dwindled down to
46 million bushels.
Are the cotton planters of America
aware Of the fact, that Indian cotton is
being consumed in the United States?
Why is it that India wheat growers
and India cotton planters are not only
competing with those of the Uuited
States, but are actually supplanting us
in our own country, for it is claimed
that wheat from India, at the present
prico of silver bullion, can be laid down
at Chicago at less price than it can be
by the American farmer.
What is the cause? The practical
demonetization Of silver by the United
States.
It can be affirmed, without successful
contradiction, that the abuse of one
million unemployed men in the United
States can be traced to the same fact.
Some cause has been at work to de-
press trade, to throw men out of EN-
ployment, and reduce the wages of
others; to make the producer realize
that he is getting less every year as the
net result OF his labor.
There can be no over production Of
food, so long as there is q hungry belly
10 the country.
There can be no over production of
shoes, so long as there is barefooted
child (from compulsioD) in the country
So long as there are falling prices,
(not necessitated by improved machin-
ery) there can be neither prosperity
nor happiness among the masses.
The cause of nearly all the economic
distress of the nation lies in the de-
monetization of silver.
Coined money is the measure by
which all other commodities, including
the price of labor, is measured.
Even at the present deprecated price
Of silver bullion, as compared with gold
money, silver bullion will now buy in
the markets Of the world as much of
Al .~tsnla~ ne x~s..n nonns.;t,, :..l..l