The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-06-21
PRICES R1s1No-wrrHouT SILVER
New York Tribure.

New York Tribune.
Nothing could have happened ito refute
more conclusively the claims Of silver
fanatics than tn eStrong advance in
prices of other products, which has been
in progress for more than "a month. That
farm products are cheap and everything
else also, because silver is disused, and
the purchasing power of gold is thereby
enhanced, is the very conner stone of
all arguments for free coinage. That
claim cleared away, the western and
southern producers would have not the
faintest interest in the outcry of mine
owners for extraordinary favors. and the
silver question would then be left for
settlement in accordance with the none
tary interests of the nation as a whole.
Wheat has risen from the lowest point
over 80 cents at the highest, and 25 cents
even now-an advance of nearly one-half
Cotton has risen about l "a cents, or
over 30 per cent from the lowest point
Bessemer p.g-.ron has risen about $3.50
per ton, or 2S per cent. All these ad-
vances have occurred without any cor
responding movement in silver, which has
risen less than per cent even in the mar
row and easily manipulated London mar
ket. But In reality the demand for silver
as money has not increased at all, nor
has there been any gain within the last
two months IN the prospect for its re-
habilitation by international agreement.
The non-concurUence of price movements
does not in the least surprise those who
know that silver has long ceased to con-
troll or materially influence the worlds
valuation of commodities But 1t is a
startling revelation To those who have
swallowed free silver theories and yet
retain enough self command and intelli-
gence to comprehend the meaning Of
current events.
Wheat rises because it has become, or
men believe that 1t will become, some-
what scarcer with relation to the demand.
1t matters not for the moment whether
this impression Is well founded or not;
II is of no sort of consequence whether
the belief in serious injury to crops Is
or is not justified; the fact to be noted
Is that these beliefs, whether true or
false, determine the price of wheat rather
than any change whatever dn the supply
of silver, in the prospect for its rehabili-
tation, or in the purchasing power Of
money generally. So 1t Is with cotton.
There has been a belief that both the
acreage and the yield per acre this year
would be SO far reduced that the supply
of cotton would be not too large for the
worlds demand, and It makes no sort Of
difference whether this general belief had
good foundation or none ct all. The
plain fact Is that the price OF cotton
was controlled by this idea, and not In
the least by any change in the condition
or prospects of the silver market. Other
products in like manner have moved,
each according to the relative demand
and supply. Iron has grown dearer be-
cause wages Of coke workers have risen,
making >fuel dearer, and wages Of Iron
miners, making ore dearer, and wages
OF furnace hands, making the production
more costly. In addition there Is the
belief, whether well founded or not, that
further advances IN the cost of coke and
ore and lead win presently be found in
eYttable. and wal forye s6h higher prices