Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1896-10-08
His Repeated Assertions Concern
ing India Wheat Proven
False.
HON, JAMES BRYCE SPEAKS.
l .nlaIs by Members Of the English
Parliament and Prominent
London Merchant.


dia wheat fake was revamped by the
silver candidate for president The as
sertion made by Mr. Bryan in his
Omaha debate last May that the Eng
fish Spectators could drive great bar
gains in buying silver and trading it
for India wheat to the detriment Of the
American farmer was reiterated and
embellshed by his fervid Imagination
so as to create the impression that the
decline of silver has made India the
most formidable competitor of the
American wheat and cotton growers
AS usual. Mr.. Bryan talked at random
without taking the trouble to acquaint
himself with the actual facts.
The Bee now has the facts and the
figures that effectually explode Mr..
Bryan's India fake. Over two months
ago the editor of the Bee directed per-
sonal inquiry on this subject to Hon.
James Bryce, who is now and has for
many years been a member of Parlia-
ment and was a member of the
British board of trade. Responding to
this letter, under date of August l, Mr..
Bryce says:
You are quite right in thinking that
British merchants gain nothing at all
from the closing of the Indian mints.
The sharp competition, especially of the
Hindoo native merchants, cuts down
their profits and they lose heavily on
the exchange between India and Eng
land in turning into English gold the
silver prices they receive for the goods
they export to India. The export of food
stuffs from India has not. l gather, in
creased during the last few years and
b., a. 49, h~ I,.,
it. Manchester and our manufacturers
generally complain that business with
India is Improbable Our cotton indus
try is at present greatly depressed. So
Britain at least gains nothing. You will,
therefore, be safe in denying that there
has been, or is, any bonus or benefit to
British merchants or manufacturers"
This letter has been supplemented by
Prof. Bryce with an article prepared by
his brother, j. Amman Bryce, very
prominent London merchant, who was
for many years resident of India. Mr..
j. AMMAN Bryce says:
For Mr.. Rosewater's guidance have
shows in parallel columns the exports of
wheat from the United States, Argen-
tine, Russia and India up to 1873 be-
fore the fall in silver and rupee ex-
change became pronounced. You will
observe that while the exports from the
United States, Russia and Argentine are
on the whole increasing. those from In
dia are falling off, and that in the year
1895 the exports from India were the
same as in the year 1877. OF course it
does not do to reason on individual years,
as there may be special circumstances,
such as famines, to account for very
short years. For instance, 1873 and
1879 We're the years of the great fam
inc in India and 1892 was the year of
the famine in Russia.
Dividing the last twenty years into pc
RODS of five years each, you will see that
during the last three five-year periods the
exports from India have been falling off,
while those. from the United States Ar
gentine and Russia have been increas-
ing, although all the while rupee ex-
change has been steadily falling with
silver. The figures prove conclnsively
as regards Indian wheat. which has
always been the great bogy with the
American silver man, that the India ex-
port has had nothing to do with the
silver man would be more sensible if he
were to take alarm at the growing ex-
ports from Argentine and from Russia.
But he could make nothing of the silver
argument here. for neither Russian nor
Argentine exchange depends on silver.
Both countries, during the whole Of the
period embraced in my statement, had
for the basis of their currency and of
course foreign exchange an incOnvertible
paper currency and not either silver or
gold.
altogether the facts illustrate the
soundness Of Mr.. Rosewater's conclusion
that the fall in prices of commodities is
due to more economical production and
transport. In India, in Russia and in
Argentine wheat exports became posi-
rupee, the rouble or the dollar fell, but
because railways were built into districts
previously inaccessible. In India the
providing of railway facilities stimulated
the extension of irrigation. In the
Punjab. for instance. many millions of
acres were brought into cultivation under
irrigation as soon as the opening of the
railway to karachi made the export pos
sible. But in India there no longer
remains any large new field to be opened
up, and in most of the wheat-producing
districts which depend on irrigation
OF the rivers as they can give. Ameri
ca therefore need not fear India much
in the future, even if silver and rupee
were likely to go lower, which they are
The statistical exhibit accompanying
this statement is exhaustive and con
vincing in support of the conclusions
arrived at by Mr.. Bryce In 1873 the
export of wheat from the United States
to England was As. 791 .666 bushels; from
Russia, 47.O4O.OOO bushels; Argentine
made no exports and India exported 9
fraction over 1.25OOOO bushels. In 1871
wheat exports from the United States
had reached 1O7. 1866 bushels; from
Russia, 5.120.OOO bushels: from India
io'633,333 bushels; Argentine still had
ports from the United States had reached
29 ,S13.333 bushels; from Russia. 100,
3'5. ZOO bushels: from India, 21,0f6,G ft
bushels. and from Argentine, 42.O00.O0t
bushels. In 1894 Argentine exported
10000, 900 bushels of wheat to England
while India did not increase its expor
over the preceding year. In 1895 th'
wheat export from the United States
was 170.333, 1873 bushels; from Russia
lot, 333. 333 bushels: from Argentine
42,OOO.OOO bushels: from India, Is, 40.
600 bushels.
The average price of wheat in BON