The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-05-30
A Potent ArEument.

I0NtnN m enf.
The silverites are astounded by the great
rise that has taken place in the prices Of
l wheat and cotton. little while ago
wheat sold 3 : low as % cents a bushel and
/ cotton as low as cents a pound. Now
wheat has jumped up to 50 cents busheI.
and it viii probably go TO $780, and cotton
is selling at cents a pound with a fair
prospect Of going to cents. and If the
crop proves TO be a short one 10 or 10
cents.
The great argument OF the silverltes has
been that the decentralization Of silver in
1873 caused the prices OF all sorts Of farm
products 10 decline. That the argument is
not justified by facts has been shown 10
The satisfaction Of all fair minded men.
but the silverites continue TO reiterate
their statement. believing. psobably that
If reiterated often enough. many will be-
lieve It.
They have never been able to explain
way it is that. if silver decentralization
caused the decline in the prices Of wheat
and cotton. it did not cause the prices Of
corn, oats. pork, dairy products. potatoes.
hay and other farm products 10 decline
As matter Of fact nearly all farm pro-
ducts. except wheat and cotton, are high
er than they were in 1860 and now that
the prices OF wheat and cotton are ad-
lvancing they are left without any argu-
ment whatever.
Why the prices OF wheat and cotton de-
clined is apparent, and why they are now
advancing is equally apparent There has
been an overproduction in both cotton and
wheat The 100000 bale crop Of cotton
last year was. in connection with the cot
ton crops of other countries. more than
the world wanted, and hence the price de-
clined. Now that there is a prospect of
short crop this year the price is advanc-
ing.
As to wheat. all the world knows that the
Argentine Republic and Russia in 1898 and
1891 kept pushing wheat on the European
market until the market was broken and
then kept offering steadily increasing
quantities at lower prices. The wheat pro-
duction Of the world in 1894 was greater
than in any preceding year in the worlds
history, though the production in each Of
the four preceding years was very great.
When We look at the wheat exporting sta
tistics Of the wheat exporting countries
we see why the price of wheat has de-
clined. In 1892 this country exported g.
&5,25l bushels OF wheat and in 1891 only
4602S'723 bushels, although the production
IN this country that year was larger than
in the preceding year. But Russia, Chile.
the Argentine Republic and Australia in
creased their exports greatly In 1892
Russia exported only s,lH.2iO bushels and
In 1894. Sl,Sl4.9T7. In 1892 the Argentine Re
public exported only 6.47O6l5 bushels. and
in 1894 she exported 2i,7i4.6S3 bushels.
This extraordinary competition knocked
down the price of wheat Russia and the
Argentine Republic insisted on marketing
their surplus wheat at any price In view
OF facts Ike these is there any sane man
who will insist that silver had anything
to do with the decline in the price OF
wheat? AS Mr.. Carlisle pointed out in his
Memphis speech. II the decline in the
prices of wheat and cotton was caused by
the decentralization of silver then the
prices Of other farm products ought to
have declined for the same cause. but they
have not declined, which is conclusive that
the characterization of silver has had moth
ing whatever to do with the prices of
farm products, or any other product