Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1892-10-08

The charge is frequently made that
silver miners alone are interested in the
restoration Of the white metal TO the
coinage. Miners, they say, are the only
ones who will be benefited by raising
the price Of silver from So cents TO sl.29
an ounce No more narrow view OF the
silver issue could be taken, and the per-
son or party that advance such q state
ment convicts himself either Of woeful
ignorance or Of . willful attempt to de.
ceive the public.
In his great silver speech in the Senste
some months sgo, Senator Teller the sill
yer champion-not Senator Teller the
advocate Of Hsrrison-hsndled at some
lepgththe relations xisting b~etweensilver
and wheat, and demonstrated very clearly
that the demonstration Of silver was &C.
countsble for the low price Of wheat.
The agricultural classes, the Senator
very Justly argued, were as much, IL not
more, interested in reconciliation as
were the miners themselves. The exact
facts and figures bearing on this branch
Of the free coinage question are now very
lucidly stated by Colonel J. d. Hooper
Of Aspen, from whose calculations we
quote as showing the extent TO which
demonstration depressed the agrieul-
tursi industry.
lei Awell knownfactthas thelow price
Of American wheat is due TO the compe-
tition with wheat grown in India. How
is this competition brought about, We
will see. The English merchant buys
an ounce Of silver in America for, say,
IS cents. This he coins into India ru-
PEGS which are worth l3S cents, and
be has thus made a profit Of SO cents on
bis ounce Of silver. II wheat is worth
In India, say, 90 cents q bushel, he can
buy with his silver rupees one and q half
bushels of wheat, the actual cost to him
being only the IS cents he paid for his
ounce Of silver. This is why India
wheat can be placed on the Liverpool
market 10 competition with the Ameri-
can product, and were this not possible
there would be q demand for at least
so, OO0, 900 more bushels OF American
wheat, and not only for this, but for the
amount now exported q better price
would be obtained.
Under free coinage the English mer.
chant would be obliged to pay sl.29 an
ounce for silver, and the margin Of diff
ference in the ratio of coinage would not
premit the importation Of India wheat
to Englnd. These facts explain why it
is that British inanciers are so bitterly
opposed TO free coinage. By depressing
the price OF silver in the United States
they can stimulate wheat growing in
India, discourage American imports,
and realize q handsome profit for them
selves at the same time, all at the tx
pense Of the American farmer and the
American miner.
Shall this thing be allowed to con-
sinue, The question is the real issue Of
the campaign. Republican orators ex-
press great solicitude lest the American
manufacturer may be brought into COM
petition with the English manufacturer;
but these same men are entirely willing
that the American farmer and American
miner shall be ruined, the latter by the
low price Of silver, which results from
characterization, and the former by the
competition in India wheat, which de-
monetization renders possible. Out on
such inconsistent hypocrisy. Colorado