The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-02-07
IT'S AN EYE OPENER.
wnEELER'S GREAT SPEECH IN
THE HOUSE.
The Farmers Of the West Can Hss''S
see How the Gold standard IL Fore
ing Down the Prices OF Their
ducts.

speech of Hon. Joseph Wheeier'
House OF Representatives: \ want !"
ask the members from the west VINO
that numerous body OF farm-
era who earn their living by raising
wheat II they can attribute the presen'
low nrices of wheat to anything but tne
cold standard? hold in my nano
Clev's last financial circular. he queues
Nav wheat at IS cents. when year
ago II was so cents. The visible sup
nlv of wheat was then SO OIL 900 pusn-
81. while to-day 1t Ii only 69,39s.Ooo.
Now with the visible supply 2o.ooo'ooo
short, we see the price IL cents lowe,
than II was q year ago. Let me tel
the western farmers that one great rea-
son for the low price Of wheat Is tnat
silver countries are usurping the mar
tets they once enjoyed. India has IN
creased her exports OF wheat from
moth ing TO 10000 900 bushels; the AT
gentine Republic from nothing 10 many
! million bushels. Russia has Increased
her exports Of wheat 100, 100000 BUSH
ola and we have seen our exports Oh
| wheat fall from S210 900 900 down In one
Q YEAR as low as $42, ,OOO. 900. and we have
2 seen our exports Of corn fall from $oo'-
600 600 10 $4,000, 900. When the Lon
don merchant buys wheat from tne
! United States he sends gold for II. and
when he gets wheat from the silver
! countries he buys silver at 60 cents per
y ounce and sends II to the silver coun-
e tries. and when he pays 80 cents ioi
wheat in India 1t only costs him about
l. o5 cents in gold. That Is one OF ths
It reasons why we are losing our market
t. Mr.. Bagehot, the editor OF the Londo!
: Economist, is the author OF wor'
I, mon finance. Upon page 54 he SAID
!, sThe necessary effect Of depreciation
. ~ silver as against gold Is to give
bounty on exports from India and othe
~ s,lver-using countries to England
n An English merchant can now pu
ly many more rupees than he formeri
tic could with the same number OF sove'
IS. e,ens and, therefore. ne can impol
70. from India, though prices at Caicut'
30 orc not at level at which II wou'
~ have paid him to operate II he had m
had that novel facility In getting r
,es pees.' v,a,
les "Nine years ago Mr.. J. Shields Mic
lot olson made the following statement
ng the royal commission on gold and 8
iid yer:
OF SNOW. Il seems to me probable
-ial the price Of silver rose to its Ola lev
or, wheat could not be probably export
ful from India until prices rose In cor'
ful sponding degree. For India, being
10. ailyer country, the price Of wheat tn
~ \. independent Of the relative value
vo,d and silver. An exporter to ri
ins land at present will give the ind'
And nr,ce In silver, and he can buy his
the YER for less gold. and thus competit
Of vii, lower the price. II the price
Is a silver rose the exporter from In
,me must xet more gold. Thus rise
no silver would. on this view, raise
lom price Of wheat to corresponding
gree
.rhis vas M. Nicholson's answer
ths sollowing direct questions put
'P'o Rim by the chairman OF the conn
var sion:
Re- "rnd,an wheat Is the very WI
That r. complained Of by Secretary n
a." r,ns. secretary Of the United 81
10 treasury. a. having lowered the ?
IAN Of European and American wheat
" J, he attributes II oil to the diversen'
sold from silver
a'oo "Our distinguished speaker \"