The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-09-26

If the democratic majority at the cleo
ton in this state next Tuesday falls be
low the democratic majority of two years
ago. it will be largely due to repeated
statements, emauating from democrat tic
sources. that the low prices Of cotton and
wheat are due to the failure Of the Dem
ocratic party to give the country free
and unlimited coinage Of silver at the
ratio Of is to /. These state
ments by democrats are Just what
the populisJ leaders want They re
iterate them in their speeches and
/ newspapers. and they give their author
ity Tor them with profound satisfaction.
/ Mr.. Watson's paper reproduced part
/ of an article entitled Five Cent Cotton, -
which appeared in the Constitution, and
/ Endorsed it.
These statements are in harmony with
populist teachings, but as they are not
supported by either facts or common
sense they would have very little effect
if made by the populists on their own re
sponsibility. They rejoice, therefore,
when they are able to quote democratic
authority for them. They understand
the effect Of them upon those who feel
they have a grievance against somebody
because of the low price of cotton,
and who do not give sufficient
thought 10 the matter to see what the
real reason for the low price is.
The statement that the low prices of
cotton and wheat are due to the fact that
the minis are not open to the free and un-
limited coinage of silver is not true
There is no fact to show that 1t is true.
Even those who make the statement do
not attempt to show it is true. They
simplXmake the statement and let it go
TO the 'public to do what harm it may.
Every thoughtful person knows that
! more cotton and wheat are being pro
! duced than the world actually needs.
| The supply is greater than the demand.
In 1891, when there was an immense cotton
crop the price of cotton was very low,
and yet at that time all the silver this
country was producing was being bought
by the government and treasury notes
were being issued for it. The next year
it advanced. Why did it advanced
Simply because there was a smaller crop.
Silver had nothing to do with the price
| of cotton then, and it has nothing what
ever TO do with it now.
The price of cotton is low now because
the world is confronted with an estimate
of an extraordinarily large crop. The
! estimate is that the crop will reach
5000, 900 bales, and that, too, in the face
Of the fact that the production of cotton
is steadily increasing in other countries.
If reliable estimate could be sent out
tomorrow that the crop would not be
over 3 100000 bales the price would ad-
vance with startling rapidity, showing
that it is not dependent in the
remotest degree upon silver or silver leg
islation. The same is true in respect to
wheat. Reduce the production Of wheat
to the actual demand for it and the price
Of that article viii advance clear beyond
the bare profit mark.
If silver affects agricultural products,
why is it that the price of corn is not so
low as to excite comments The reason is
that it is estimated that the corn crop is
short one-that the supply IS not more
than equal to the demand for it.
1t is regrettable that the populists
should get assistance from democratic
y
because of their unreasona bleuess, would
not have the least effect in the campaign,
are made effective when they are shown
to have the Endorsement Of those VINO are
working in the ranks of the democracy.
If the miuts we're opened to the free
coinage Of silver at once at the ratio of lG
to I, or any other ratio, the price of cotton
would not be effected in the least, as long
| as the currency remained sound If the
| currency became debased. prices in that
kind of currency would advance,
but the producers of cotton would be no
better off The deprecated money
wouldn't have the purchasing power that
sound money has.
If Chairman Clay desires to have the
credit for big majority next week, he
should exercise a more rigid censorship
over campaign speeches made in behalf of
! democracy