The times. [volume] (Richmond, Va.) 1890-1903, 1894-11-18
FREEDOM IN CURRENCY-FREE
DOM IN EXCHANGES HE THISGs
WANTED.

WANTED.
4 very distinguished citizen Of Vir-
ginia who is an advocate of the free
coinage of silver in discussing that sub
tect with us since the November elections,
said land in Southsde Virginia Che cited
Halifax county cannot be sold for a.21
per acre, and the people there can get
only fifty cents a bushel for their wheat.
He thought making money very abund-
ant. by the free coinage Of silver, would
cause the land and the wheat to COM
mand higher prices.
We have so often gone over the ground
that shows debased dollar. like the
silver dollar that contains only nifty
cents worth of metal can never make a
people prosperous. but must inevitably
dt stIoy them, that We forbcar to say
airy more here and at this time on that
roirt. But We want to cite a few facts
in this connection which may show tne
Halifax farmers that they might have all
the silver dollars I'm the world, and still
they could not raise the price Of their
WHEAT, which. they know, is fixed by
the price in Liverpool England.
A recent issue of the London Econo-
mist makes some interesting statements
gentira. After pointing out that our
Department of Agriculture greatly un-
der-estimated the yield of wheat in the
United States for the years 1891, 1882,
1895 and 1894. 1t adds:
TO this superabundance in America
there IS 10 be added a new one, In the
Argentine Republic. whence over two
million quarters of wheat We're exported
In 1892, and over four and one-half mil
lions in 1893 while this years total is
expected TO reach seven million quarters.
Previous to 1890, that country mad only
in one year exported as much as a mil
lion quarters, and the rapid increase OF
her surplus. coming on top OF the extra
exports from the United States, good
crops in Europe since 1891, and great
crops in India since 1892. has materially
helped to bring prices down. In Argent
ma we have the only instance of a coun-
try in which the growth OF wheat has
greatly extended In recent years. Ar
gentine statistics are little better than
rough guesses. but so far as they are 20
be relied on they show that the wheat
area, which was only 10000 acres in
1880 had expanded 10 100000 acres In
1893 In spite Of the low prices ruling
since the crop of the latter year came
into the market, a great increase in
wheat growing is reported for the pres
ent year.
The explanation OF this surprising adj
vance in wheat production. given by Ar
gentine authorities and the British rep
resentatives at Buenos Ayres, is that II
is due partly to the high gold premium
which has prevailed for several years,
and partly TO the settlement of the coun-
try by large number OF Italian immi-
grants. who are content 10 labor from
sunrise 10 sunset and even by moon
light for a bare living. They spend
hardly anything, II is said. upon import
ed merchandise, which the gold premium
makes dear while they sell their wheat
at gold prices, and pay nearly all their
expenses in the deprecated paper cur
rency. which is said 10 go almost as far
as ever In payments which they have
to make.
There is the explanation of wheat being
low. Too much OF it is being produced,
and the conditions in Argentina make II
plain that she is going TO increase her
production OF IL steadily. because she
can get along comfortably on price Tor
wheat that will starve an American.
Her wheat producers do not want the
comforts which our wheat producers de-
mand. She has an almost boundless ter
ritory Of fertile wheat-producing land,
and in short II she can make her wheat
net the farmer twenty-five cents bushel
In gold, he is satisfied. Now. II is plain
that Argentina is going to set the price
OF wheat In Liverpool, and she is going
to pull IL down 10 a price that nets her
wheat growers twenty-five cents bushel
In Argentina. Does not the Halifax man
see perfectly well that If he were 10
make silver dollars many billions more
than they are now II would not In the
least tend 10 inducing the Argentine
wheat grower TO ask more than twenty
five cents a bushel for his wheat? lie
is going 10 offer 1t at the lowest price
above twenty-five cents bushel that is
necessary for securing the Liverpool
market. and he is going TO do that with
out the slightest regard TO our wishes
or feelings on the subject.
The Halifax wheat grower totally mis-
understands his case. II is plain that he
cannot compete In wheat growing with
etAHr parts OF the world. The Halifax