The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-02-27
COL. HACKNEY WRITES
His Opinions of Republicanism IN
the Year 1894.
WORSHIP OF TIE GOLDEN CALF
wan nufn the Parey says the Colonel
HI Wusr Restore silver TO Ats GA
ffPIace az 3. Honey Metal


ro Wy Fdiror III tne state journal
DEAR sIRs I INC the following in an
Associated Press dispatch in your paper
Wheat is PROSTATE I'D all the markets
Of the world. For weeks Il mas 9eeu
drug at prices Unprecedented since spec
ulation in farm products began. # has
sunk below all low marks. refused 20 re-
spond 10 bulHsh Influences, and gone
begging at quotations known 70 be unael
the actual cost of production.
Theories that crop products ike artL-
cles of manufacture, had an Industrial
value under which they could not long
be sold have been exploded, and wheat
has continued to fall. How long this
condition of depressed prices viii last, IS
a question that interests American farm
ers who devote 55.OO0,O0u acres every
year rs cultivating the cereal, every
merchant in the land, and, incidentally,
peculators the world over.
After analyzing all the Influences
that have contributed to- the tumble and
there are any number n them, it would
appear that new level IS about 70 pc es-
tablished for wheat beyond which lr ls
not likely 10 rise except 10y the boldest
manipulation, and then only for brief
periods.
There are spectators who believe
chose good Old days when Sl q bushel
was The rule, VIII never come again, and
that sevantv-6ve cents may be looked
t1 as the future top notch quotation.
These men are by MO means bears for
they c0ncede that wheat cannot hover
long around the depressing figures Of to-
day.
They have ransacked the statistics Of
the world. and claim to have discovered
that the cheap product of Russia. India
and the southern hemIsp here. which has
lately turned an almost inexhaustible
supply into the markets Of Europe, VIII
finally drive the American crop out
Exposed to that fatal competition, they
argue chat wheat raising VIII some day
become an Amer can question. to be treat
ed without reference % the export mar
ket, and Du the theory that Europe Will
be supplied from the fields that skirt the
Baltic, from the rich plains Of India and
from South America.
It may be- said that this gloomy view
Is not shared by the professional BULL
who with all his buoyancy, offers no
promise Of az early return t. prosperous
And yet where men congregate, they
and women and children are hungry for
bread.
Republicans ten us that this condition
was brought about by the ~ uson bih
and Democratic onslaughts upon the
tariff. and the latter assert that such IL
the result Of the passage Of the McKin-
ley bill "A voice from London shows
that both propositions are false, ais witt
ness the following. (Aiso from Assoc
ciated Press)s
LONDON, Feb 24-The Financial
News SAYS. Guatemala today and other
silver countries tomorrow Default with
most Of them IS i question Of time The
worlds commerce lis reeling tu crisis,
yet the mischief from the appreciation
81 gold has only begun. BimetaIlism ia
England is gaining converts.
It is understood that Dir. Lidderdale.
strong advocate 0t an international agree
ment for g joint standard BimetalIism
ia nO longer the creed Of handful of
cranks. N early every economist of emf
hence IS on its side.
The International conference must be
raopened. France. Germany and the
Lnited states are anXi0us that this should
be done. Surely our interests are as
great as theirs. I in our PRIDE as the
gold mart of lac world. we stand aside
the punishment VIII fan upon our heads.
II depends upon the British cabinet
whether the conference be fruitless or
not
There is no Wilson or Mckinley bill
10 Europe OF South America. Aye but
what's the matter with Massachusetts,
DENVER Col, Feb 23.-GeneraI al. j.
Warner. president o. the National BIZ
metallic league, addressed the chamber
Qt commerce and large number of in-
vited guests this evening.
'W e might as well attempt by legisla-
tion 70 pat l20 minutes into an hour and
yet keep the tW snty four hours in day
AS to make gold the sole standard. and
keep prices as they are. be said "Ihe
first industry to suffer under the
financial policy eff this administration is
the agricultural Farms have gone down
where Che mortgage becomes deed
Prices of labor cannot be kept up, profits
are vanishing faster than ever before and
By the century's close not 20 per cent Of
our farmers VIII own their own farms;
while in the cities not ever 5 per cent
will really own their homes
Brooks Adams Of Boston writes that
IN thirty days there viii not be a gold
standard man ~ III Massachusetts if things
Keep ON. Debtor nations must put prices
below those Of creditor nations. and how
long can we Keep up our policy of giving
notes ln payment of INTEREST," How
short sighted the policy Of selling bonds
ana borrowing gold, hoping to maintain
high prices and keep a gold standard
The time has come for declaration Of
financial independence of Great Britain
which VIII see BIS suffer bankruptcy be-
the gold standard route has cost this
country the past year three thousand
million dollars, and the men who have
pr0hfed are those who have the power at
any time ro turn On "a Black FRIDAY to
increase their il-gotten gain. i see no
hope as long as the present policy Is pur-
sued by Dir Cleveland, who takes his
bidding from Wan street, which ia turn
takes its cue from Lombard street.
who is responsible for these condi-
fionsf Genera Nanhorn, one Of the old
est. most loyal and true Republicans III
the west; a man who has spent a life