The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1894-05-31
AGRICULTURE DEPRESSED.
Due 10 the Monetary Changes In
1873 by the Republican
Party
Able Discussion OF tho Question by
Hon Henry Chaplin. an Eng
lish Authority.
Protective Duties Ds Not Help Farmers.
for Our Farmers Are Worse
ON Than Others.

EDNnuRo. May 30.-An important
aeeeoh. touching upon wheat silver. gold
aud American mining. railroads and land
mortgegea was delivered here to-day by
Right Hon. Henry Chaplin. conservative,
president Of tho board OF agriculture In
Lord BalisburJ's government. The speech
Gas an address 10 a crowded conference OF
Scotch members of husbandry. and had for
his subject, 'BimetAllism In Rotation to
Agricultural Depression. The speaker
declared that the agricultural depression
was chiefly due 10 the steady aud heavy
fall In the pioes OF produce. which be
clnimsd was duo to the monsthry changes
of 1873. and could only be stopped by re-
ver,inR to tho previous monetary system.
Nobody could foresse where the present
fall OF prices would end. According TO the
latsst table. the fall from 1873 20 1893 OF 40
per cent in wheat. amply illust' sted this.
British com missionefs, be added. studied
tho price Of whSat In America in 1870, and
believed that u never could be expo ted
cheaper than forty shillinRs per quarter.
The superior Indian wheat was sold last
week at Hull for l9s 3d per quarter Con-
tinsinR. he said majority Of the farmers
believed the fall In prices 10 due to foreign
competition. aud that tho remedy was pro-
etotion. Bot the fact that half the ooun-
tries Of ths costinent, and the United
States. while imposing the heaviest duties
on imports OF produce. oompluin of seri-
cultural depression. rsfuted this argument
Mr.. Chaplain asserted.
Touching upon the farmers OF America,
he said that they especially were being
ruined aud becoming bankrupt faster even
than the British farmers. Others contend
that ovsr-produotion 10 sponsible for the
fall In prices. but he claimed that statistios
show that produetion in wheat has do
creased, although prices have fallen.
Therefore. fIom the point OF view OF tho
speaker II was ridiculous TO att,ibute the
fall In prices TO that cause. The real cause.
DC said. was the decentralization of silvof In
1873, aud the subaequent divsreenos OF the
relative values OF the metals, which ena-
bled silver using countries like India 10 er-
port wheat AZ the presens low price.
Chaplain also said; And IL silver con
tinues to fall, there 10 no reason why wheat
should not eheapsn indefinitely. We pio-
pose. 40 = remedy, an international ngres.
msnt 20 revert to the system which pre-
Is nssela conference 10 no argument against
this. as 10 has since been clearly y owed
that nothing but ths action of the English
delegates broke mp this conference. Chan
cellor Won Caprivi's subsequent expl lsnntion
of the conduct Of tho German delegates
conolusively proved this TO DO the fact
Chsplsin reviewed the bimstallio move.
ment ON the continent. and pointed ont es-
peoially the importance OF President Cleve-
land obtaining power 10 re-summon The
conference. adding; "My answer 10 the
argument that an agreement az to q ratio
between silver and gold 10 impossible 10
that the bimetallist will accept any ratio
rather than continue as now. and silver 10
90 sensitive that its market p ice will con-
form TO any fixed international ratio. In
feased output. consequent upon suoh an
aerosmsnt, weuld. in our opinion. not
sds OF the matter In tho loAst. az IL would
bs inhnltesimsl compared with the inn
msnss exporting mAss. Tho arzumsnt that
au International az cement would make
the fortune of tho owns Q of American aud
Mexican silver mines does not touch the
question OF its expedienoy and gonsrAl
utility.
'lns most important adverse argument
10 that Great Britain. being the q oatest
creditor nation OF the world, would receive
the payment of her debts IN the cheapest
metal. wo contend that both metals would
pe form equal functions. while. on the other
hand, we say IL IL not wise for creditor TO
.mbsrrass his debtor by monetary changes.
"lhe bimetsllic prospects OF the future
are most promising, and can assure our
TO sign friends that the recent court OF bi-
metal. 10 debate In this house OF commons
was devoid OF importance. Discussion OF
tho matter was attom pted against the ad'
vice OF Its friends. and the result was insvi-
table. seeing that no division was possible" I"