The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1892-05-13
THE FARMER LOSES
The Decentralization of Silver q Great
Loss to Farmer and LabOrer
as Well as the Miner.
FALL OF PRICES IN OUR HOME MARKETS
The Comparative Price Of Corn, Wheat
and Cotton in Ratio With the
Price of Silver Since 1873.

The silver producers of the mountain
country are not the only ones who lose
directly from the repeal in 1873 OF the
free silver coinage law. The loss from
this source to Colorado in its silver
production for the year 1892 will be
between eight and nine million dol
lars. to say nothing of the vast loss to
the other business of the state from
dullness in times and depression in
values caused by the anomalous status
of silver as money and bullion.
But the wheat and cotton growers
of the country have the same direct
loss to bear in the price their products
bring, by reason Of silver demonetiza-
ton, as have the silver miners-the
same in kind and as great in degree
The loss to the silver miner is easy to
comprehend, the loss to the wheat and
cotton grower not so easy-the disas-
trUus operation of decentralization upon
them not being so direct and therefore
the proofs of it are somewhat more
complex. That it is ture, however,
and how it happens can be clearly
shown.
England and heE Indian empire
enter into tle problem. In 1S73-the
year the United States demonetized
silver-India supplied hardly any
wheat and no cotton to Europe. The
United States exported by far the
greater proportion Of these commodi-
ties to supply that which European
countries were unable to raise for
themselves. Since then the whole sit
ualion has changed. India, during
the last six months. has supplied for
European consumption more than 100, =
100000 bushels Of wheat, and last
yearit exported over 80, 900, 900 pounds
of raw cotton. The most of this wheat
and cotton went to England, to the
eXclasiOn CT so much American wheat
and cotton. The Indian products fix
the price the American producers must
accept forthe surplus they raise. Thgs
surplus American wheat and cotton
have their prices fixed in English mar
kets by those Of India, and these liz
the prices at home.
If that was the whole story Ameri-
can farmers would have no room to
complain, for they must, when they
leave this country with their grain,
expect to compete with the grain fields
of the world. Wheat and cotton raised
in India have the same right to COM
pete for purchasers in all the markets
Of the world as have the American
articles. But that is not the whole
story.
The claim is often heard that silver,
when measured by the products OF
labor, has not deprecated. The fall
in the price of silver from $l.29 pei
ounce to sc cents is really the measure
of the rise IN the price Of gold. This
is unquestionably true-if wheat, cot
ton, lands and other property now com
mand in payment only about the same
quantity Of silver bullion of standard
tinenesS that they did in 1873. In that
year one ounce of silver was wortI
$1.29 in gold, now it is worth but 81
cents-a difference of 43 cents; 81. 2S
in gold will now buy an ounce and {
third of silver, and IL thrice more O
wheat and cotton, while the ounce o.
silver will buy rs much Of these pro
ducts as it did in 1873. This proves
that with wheat, cotton and other sucf
property the standard, gold, has ad
vanced in value, and it is not silve
that has declined.
India's money is silver. Its inhabit
ants are an monumental people. Th'
trade of that empire are ali in tb'
hands of British houses. The native
Indian is rarely other than subser
Went, patient animal. Native prince
own the land. The ryot Qndian hus
bandmen) cultivate it, having usual.
fixed tenure in it, but yet less thai
actural ownership. The ryots are mil
lions in number. They have neve
known anything but silver money ant
such as is of less intrinsic yalue. 0
the commercial relations of gold ant
silver they are in absolute ignorance
They commenced selling to the Eng
fish trader, taking pay in silver money
} when he first commenced his incroacf
ments. a century ago, and they hav
done so ever since. If they were
see gold coin they would not kno'
its value, so ignorant are they of i
The British trading company, tai
ing advantage of this hereditary ig
norance, buy wheat and cotton frol
t the ryot and pay for it in silver. Thel
: being no gold standard in that cOuntr.
e no necessity to exchange silver Il
gold, practically no knowledge of gol
coin, to the Indian ryot it is as thong
- there were no gold in the world. !
!, they accept silver in payment now
e they did through all time before, bt
lieving it to be the best money in e
- istence.
Say, then. that the British shipp
from India buys wheat at sl.2O P