Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-04-11
rAE FARMER,s INTEREsr.
How He Would Be Affected by Cheap
Dollnrs-OuantItics and Values.

FNFNNN-h - Nv NhE0Ns
How He Would Be Affected by Cheap
Dollars Quantities and Values.
The effect of the free coinage of silver,
which is desired by nine-tcnths of the |
people who favor it, would be to sub |
stitute for the present dollar dollar |
worth half as much. 1t is alleged that |
this would substantially double prices,
wheat would be worth $1.44 instead of
72 cents, and on this ground the cheap
money scheme. has good deal of fas-
cination for farmers, who have been suf-
fering seriously from the low prices ut
which they have had to sell their prod
ucts.
Will the farmers take the trouble to
ask themselves how they would be any
better Off if they got twice rs many dol
lars for their wheat and corn, but each
dollar was, as it is proposed to make 1T,
worth just half of the present dollar?
If an act of congress made 16 quarts
bushel the number of bushels of wheat
in the country would be doubled, but
the quantity of wheat would not be in
creased by q single grain, nor the value
OF the wheat in the country be increased
by single cent We take it that no
farmer needs to have this explained to
him. Two bushels of 16 quarts are ex-
actly equal to one bushel of 32 quarts.
Nothing is gained by changing the size
of the measure of quantity. No more
would the value be changed by chang
ing the measure of value.
Supposing that the silver dollar were
substituted for thegold dollar and prices
had doubled. All prices would be af-
fected, not alone the prices of agricul-
tural products. All the money that the
farmer receives he spends in one way
or another, unless he hides it away in II
stocking which he rarely does. In
every purchase he would have to spend
two dollars where he now spends one
dollar. Changing the value of the dol
lars cannot possibly change the num-
ber of bushels of wheat that must be
paid for a suit of clothes or moving
machine, because the same dollar meas
ures the value of each, and if wheat
doubles in price other things double.
Taxes might not double the first year
but as the town and county and state
would have to pay two prices for every,
thing the tax levy would have to be
doubled the next year.
A change in the dollar affects taxes
just as much as it affects corn. 1t can
not double the value of one without
doubling the burden of the other
Debts would not be Immediately
doubled, existing debts could not bt
changed in amount, and as they could
be settled with dollars half as valuable
as the present ones, those that were
borrowed, the debtor would shave hal
his obligation. But with a reduction o
: one-half in the value of the dollar i'm
pending, or in process, there would b.
= an energy in collecting old debts and
refusal to renew loans that would crusl
: n large portion of the debtors, who, i
t no change be made or threatened, viii
, have plenty of time to take up their oh
( legations without sacrificing their prop
D erty. After the change was cfecte
J, the farmer would have, if he borrowed
to borrow twice as many dollars as now
=, because each dollar would buy only hal
c as much.-N. Y. Journal of Commerce