The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-03-07
AN INTERESTING LETTER
On the Silver Questionable Loss
eS of Our Farmers.

4 A~A~A
In the REPRESENTATIVE of Jan.
10th, R. J. Hall, says that but few
people understand what effect the
decentralization of silver has had in
depreciating the prices of wheat and
other farm products. Mr.. Hall is no
doubt correct as regards the ignor-
ance of the masses on this
question. Why should this be
the fact? The matter is of
such vital Importance that it
would seem that all the leaders in
the alliance, and in the peoples par
to would have, long ago, brought the
subject to the front, and made
all the points plain, so that the
people might fully understand
the evil effects of this infamous act.
am sorry Mr.. Hall did not 60 fur
Their into special details in his letter,
and make it more practically plain
for the uniformed on this question.
Probably but few farmers after read
ing this article could take pencil and
paper and figure out what had been
his loss in the last twenty years on
his wheat product as a result of the
demonstration of silver; nor make
reasonable estimate of the deprecia-
tlon OF the value of his lands. This
is the information they need and
must have before they will become
solidly united in favor of the finan-
clal reforms the peoples party are
working for. knowledge is power"
and in this case it would be very
potent power, as but few indeed of
the producing class would continue
to vote for the old parties after being
fully convinced, by absolute facts
that both OF the old parties were
their sworn enemies, and had for the
past 20 years been legislating them
to poverty and ruin. The reform
party cannot gain the ascendency in
legislation without the vote of this
very class, nor can they expect to Sc
sure their votes unless they are made
to see the wrong, the robbery, and
the oppression they have suffered by
the 'unwise and outrageous legisla-
tion the old parties have imposed up
on them. Mr.. Hall says the ounce of
silver was worth $1.29 before it's
decentralization in '73, and wheat was
worth lis to 1.2O. or say ten cents
less than the ounce of silver. Had
silver remained the constitutional
money of the country, as it had been
up to date 1893), it is fair to presume
that the coinage value would have
remained about the same, and as
there has been no reproduction of
wheat during the past twenty years
England could not have bought our
surplus wheat, or that of India for
less than the prices ruling at that
time. about $1.2O per bushel. l pre-
sumo this is what Mr.. Hall means to
tell us. He can correct me if I am
wrong.
With this point made plain, any
farmer can go over the record of his
wheat product fol each year for the
last twenty years, and after finding
the price at which he sold his sur
plus, and deducting this price from
81 20, he will be able to determine his
total loss on his whole yield for the
twenty years since 1873. This loss,
what ever it may aggregate, he can
justly claim has been robbed or stolen
from him by the demonstration of
silver.
The shrinkage in the value of the
products of the farm is the direct
cause of the shrinkage in the value
OF his farm; this loss of value is there
for result of the same cause! Thus
the denomination of silver has
struck the farmers prosperity death
blow, and he can see nothing but alb
solute ruin ahead.
He has also been hampered by high
rates of interest on money: he was
forced to borrow on account of the
low price and small return for pro-
ducts. 10 what extent have the
farmers suffered by this means. lido
not know what has been the average
yearly product of silver in this coun-
try since 1873; but will estimate it at
aboutsixty million ounces, this coined
and put in circulation would have
added nearly one and half billion
dollars to our circulating medium or
about $4,000 per. capita. This alone
would have produced great improve
ment in all kinds of business: and
when we add to this the net gain.
that the farmers would have made.
had their surplus wheat sold on a
free-silver coinage basis, or from 81 Is
to 81. 20 per bushel; which would leave
in their own hands over two bill
ion dollars of their own capital, we can
easily surmise that with all this
aggregate Of capitol in circulation.