The Princeton union., 1894-08-02

cents per bushel profit to the middleman
or exporter. The statement referred to is
in detil as follows: sS
Statement showing the average price Of
No. / hard wheat at Duluth and Liverpool
for the months Of November, 1893, and
May and June, 1894, together with elevator
charges, insurance, lake and canal and
ocean rates from Duluth to Liverpool:
Average price Of hid. at Duluth rs 60.64
Elevator and other charges at Duluth. .O1. 80
Lake, rate. l;l insurance and elevator =, a. !
Canal rate, Buffalo to New York. .O3. .S5
Insurance, weighing and towing at -
Elevator va transfer to steamer at New 49,
ocean, ala rate N. to Liverpool: :Ss.s1
Marine insurance, N. Y. to Liverpool. OO.5O
Cost c. L. +. at Liverpool. .$.75.42
Price paid for No. l Hd at Liverpool
during same period 16.46
Profit to exporter. 1.O4
In 1893 the United States exported 120,-
600, 900 Of wheat; Argentine, 81, 500 600
bushels; India, $4,000, 600 bushels; Australia,
and Canada 55OO,O 900 bushels. Total, 203,-
O0O 600 bushels.
Farming Must Re Diver sliicd.
Nearly all Of this wheat was shipped to
Western Europe. and there it came in conf
petition with 150,000OOO bushels OF sur
plus wheat exported from Hungary, Russia
and the Balkan states. These figures serve
to show how the American wheat farmers,
with their surplus Of 12O,OOO,OOO bushels,
| have to contend in the markets OF Europe
with a surplus of 230,OOO,OOO bushels from
| other countries. Manifestly relief from this
condition must come mainly from two
! sources-increased home demand and less
| production. Less production must come
| through more diversified farming, and in
creased home demand through the main
tenance of judicious protective tariff,
whereby the army of consumers may be
enlarged and equipped with ample means
through profitable employment. Capital
| must furnish labor work, and both combined
must furnish the farmer his home market
But these are plain and homely sugges-
| tions. am aware that the new style of re-
| former, who affects to find nothing good in
the record or principles of either of the two
| great parties Of the country, has other and
| perhaps more scientific remedies to propose
! as relief or cure for the Industrial stagna-
ton and depression which Is affecting not
only the farmers, but all other classes and
| interests in the community. These remedies
are principally the referendum, the govern
ment ownership and operation OF railroads,
female suffrage, the assumption OF the
liquor traffic and saloon business BY the
state and the free and unlimited coinage Of
silver at the ratio of 16 to I. Government
cannot we'll build or buy railroads without
money acquired either by loan or taxation,
and in these hard times, when we all have
our hands FULL it would embarrass us much
to embark into venture so extensive and
expensive Besides, it is far from certain,
especially in the light Of the recent strike,
whether a government railroad would give
us cheaper or better service, or whether
it would afford better field of labor for
the workingman. As to the referendum, 1t
may be said that bad laws are, in the midst
Of great excitement, as apt to be ratified by
narrow MAJORITY.
good ones. There are many constitutional
provisions throughout the land which have
been ratified by popular vote that expert
ence has proved unwise and impract1cable
Good laws live; bad laws are easily and
promptly repealed. To turn the state into
a saloonkeeper would not diminish drunken
ness, would not relieve the taxpayer and
J would be placing another weapon in the
hands Of the hummer element and the ward
healers. How it could afford us any relief
against the hard times at this juncture is
hard to see. AS to female suffrage, it Is
q luxury which few sensible women care for
or would use. It is theory long floating
in the air among an ancient band Of reform
ers, but it is condition which Few OF
mankind or womankind pine for. Surely lit
tie immediate relief could be obtained from
this innovation at this time.
. In connection with the claim for free
coinage of silver at the ratio Of 16 to /
comes from these reformers the charge and
|
in 1873 is the chief cause Of the financial
and industrial depression now prevailing in
the country. - IN" g.
Gov. Nelson disputed this statement, and
to prove his position went into an exhaust
i've review of the money question, giving
the history of coinage legislation from tue
formation Of the government to the pres
ent time. He explained in very clear and
concise manner the facts concerning the
decentralization Of silver in 1873, and neld
that silver was not then in circulation and
had not been since 1S4O, and that we were
then and have been ever since 1862 On
an exclusive paper basis.
Statistics indicate, if we take into ac-
count population, our whole field of
currency, and our mode of doing business,
that ..'
Silver Has Not Been Stricken Down,
as some reformers allege, but that on the
whole it is as much in favor here, for use
as money, as anywhere in the commercial
world, and that our country is to-day in
a sound state of local-as distinguished from
international-bimeta Our own coin
. age history, from 1882 to 1884, and from
, the latter date until the bland act of 1878,
has demonstrated that the free coinage OF
both metals, on a ratio almost approx
mating the commercial ratio, failed to
give us real bimetallism-the uninterrupted
circulation Of both metals side by side.
There being no complete system Of inter
national bimetallism, and there being nc
actual or legal interconvertibility between
} the two metals, under the inexorable opera
tion Of the Gresham law, silver. as the
cheaper metal, during the first period, drove
gold out Of circulation. and gold, as the
cheaper metal, during the second period
drove silver out Of circulation. Whichever
for the time being, was the cheaper metal
was in exclusive possession and control
7 And this proves to all who are capable ol
t willing to receive the truth that free coin
: age alone will not give US practical or rea
/ bimetallism. And take it that we are al
+ bimetallists in the sense OF wanting both
2 gold and silver to be in actual circulation
as money. None Of want to drive either
gold or silver out Of circulation. The com
mercial or intrinsic value Of the silver dol
lar is to-day hardly so cents of the gold
dollar, and it is only current and received
> as equivalent to the gold dollar, because yor
can, at all times, exchange or convert it into
the latter And this is what we understand
by the term interconvertible. If 8
! so cents silver dollar can at oil
ti,,,oc 70 ho d v<ol s,,%o b - =.