Arizona weekly citizen., 1892-11-05
THE INDIAN RUPEE.

When Stewart and Smith made their public debate in this city, they discussed at some length the American dollar and the Indian rupee. As the value of the latter and it's influence on the silver product of the world is but little under stood, we take the liberty of republish ing from the National Bulletin the fol lowing statement in relation thereto:
 "All charts show that when the mar ket price of silver bullion has advanced, prices for our wheat and cotton have advanced, and that when it hes declined they have declined, and reports pub lished by the United States Agricultural and Statistical Departments further show that prices for corn, provisions and dairy products, in all normal conditions follow prices for our wheat.
 Silver is the only kind of money used or known Tn India. It consists of silver rupees worth AS cents per rupee. That legal value was given to them by an act of the English Parliament. passed in 1884, and still remains unchanged. Their bullion value is now about 2S or % cents.
 Low prices for silver bullion have largely increased the volume of msney in India, and thereby stimulated her production and enterprise.
 India never exported any wheat be- fore 1870, Tor manufactured any cotton for export until since 1880. During 1791 she exported 56,0O0,OOO bushels of wheat, and sent abroad nearly $40, ,0O0, 900 worth of manufactured cctten. During the past years the average export price of her wheat has been s1.10 per bushel, and of her cotton 1i1f cents per pound in silver rupees, at their legal coined ! value.
 The manufacture of American cotton has heretofore been England's second most important industry, and for over 30 years American grain has furnished her people with most of their bread.
 Largely increased production of cot ton in this country, and it's largely in- creased manU fscture in India during the past few years has, undoubtedly, much to do with it's present low price here, but these are not the real reasons. Present prices for the products of all labor are now made through life or death struggle on the part of England to keep them down until she can get men into office in this country who will make and execute our laws in her in- terest. She has already overdone the cheap silver business in India, and it is about to react on her, she must now control our financial and economic laws and policies, or her greatness will soon be among the things of the past. The silver and tariff legislation of this coun- try, passed m 1890, is England's most immediate and greatest danger: through it's influence her banks are now failing. her ship building decreasing, and want stares her industrial classes in the face, and unless these thrive her money lenders and aristocracy must soon go into bankruptcy.
 With the market price of silver bull lion at sl.294 per ounce, which is it's par with gold in this country, it would take sl O3l4 of gold to buy enough of silver bullion to pay s1 10 per bushel for Indian wheat, and 102l cents worth of gold to buy enough silver to pay 111s cents per pound for Indian cotton, while with the market price of silver worth 90 cents per ounce it would take only 714 cents worth of gold to buy enough sil. yer to pay sl.1O per bushel for Indian wheat, and 71a cents worth of gold to buy enough silver to pay ll11z cents per pound for Indian. cotton bought with silver rupees at their legal value in India.
 Add F cents per bushsl for transport ing wheat, and one-half cent per pound for transporting cotton from India to England, and the difference in thelr gold