Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1893-08-24
SILVER AND WHEAT.
Plain Words From Southern Farmer
Cheap Silver Makes Cheap
Wheat,

Cheap Silver Makes Cheap
Wheat.
In the Atlanta Constitution of july
20, 1898, democratic farmer writes
one of the plalnest explanations of how
the price of silver rules the price OF
wheat and cotton. We reproduce that
part of the article in relation to wheat,
as follows:
The average price of wheat in India
is SLY per bushel in silver; freight to
Liverpool per bushel is 13 cents in
gold, equivalent to 204 in silver; total
cost in Liverpool, Sl.37a in silver.
How has the Englishman paid for
this? 1t is story of but few lines,
and yet it is the story of your ruin.
Silver is quoted in India at ratio of
Is to l, consequently one ounce of sill
yer coins $1.e72, which is legal tender
for all debts whatsoever within the
realm. Since the decentralization OF
silver in the United States, and prior
to the late action of the Indian council
IN closing the mints to individual free
coinage, the Englishman purchased an
ounce of silver in the London market
at, say the present price of IS cents an
ounce, sent it TO any of the seven free
coinage mints Of India, obtained S1.373
in coined rupees, and with these paid
for that bushel of wheat and freight.
Il hing rt,nt
of wheat laid down in Liverpool for
TO centS-the price OF one ounce OF
silver You compete with this, since
Liverpool makes the price for all prod
ucts grown by you i'll excess of home
consumption; hence your bpshel must
be laid down in Liverpool at the same
price, which is As cents at home, IS
cents in Chicago, 75 cents in Liverpool.
The Indian farmer pays silly of his
debts with his bushel of wheat-you
can pay but As cents with your bushel,
and this-is the story of your ruin.
Have you remedy? Yes.
Free coinage of silver in the United
States at the time honored ratio of Is
to will put that ounce of silver the
world over from IS cents to. $l.29.
Then what does the Englishman Fay
for that bushel of wheat? Just $1.29,
instead of T5 cents, which will then be
the cost of silver per ounce.
There is no change whatever in this
manner of competition with you, ex-
cept that the mints are closed against
individual coinage, and the Indian gov
ernment requires the Englishman to
buy rupees at about the present price
of silver, with which to pay for his
wheat and his cotton. Carefully study
these facts and figures so that you may
hereafter know why your panic prices
continue to exist, and then ask your
self whether or no you are interested
in free coinage.
While this is but a story of a bushel
of wheat and a bale of cotton, it is,
likewise, true of every competing
product that grows ON the earth, or is
quarried Or mined from the bowels of
the earth, except gold itself.
Can the United States maintain free
coinage?
This is one of the greatest, richest,
and-connditions right-the most pros
porous nations on the globe. Horace
Greeley repeatedly said, 1.-The way to
resume is to resume" In 1875 con-
gress passed a simple act of resump-
ton, effective January 1, 1879. BY this
act it lifted 500, 900 of paper cur
rency from partial depreciation to an
equality with gold. The direst predic,
tions were hurled at the government
by the timid for this action as resump
tion day drew nigh, yet the object les
son passed into oblivion forty-eighi
hours after it was undertaken.
These currency millions were simply
promises to pay" and intrinsically
were worth but the price of paper pei
pound.
Then the United States had bui
&c, 900 600 of people: $50, 600, 600 900 Of
valuation, with a 4 per cent credit
basis. Now it has sc, 900 900 of people
valuation of s65, ,0O0, ,00O, 900 and {
credit basis of 2 per cent.
The problem Is before you, that a:
the government so. easily raised tn,
800, 900, 900 of currency with no in
trinsic value at all, 90 a parity will
gold in 1879, without creating ripple
what cannot the government do toda.
by simple fat in raising silver dollar
to an equal parity, when It's intrinsi