The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-10-23

Chicago, Oct. 2o.-(Speclal.)-The re-
cent advance of II cents O bushel in
the price of wheat has given rise to con-
siderable discussion as to what extent
the republican managers have pnr-
tlcipated In the advance. Many err
roneous statements are mnde, among
which being goneattributlng the advance
| to McKlnley's probable election and the
probable defeat of silver in November.
One republican paper gives credencc to
the statement that inasmuch rs the
value of wheat 10 the farmers in this
| country has increased In the neighEor-
hood of Sloo,ooo,OOo, there can be no
possible doubt but that the gold sentl-
mcnt has done it.
The value of wheat Is gnuged abso-
lutely by the unalterable laws of sup
ply and demand, aided temporarily at
times by speculative influences. Spec
ulators occasionally advance or break
the price of wheat according to the OPP
poriunitics offered In the exercise OF the
business. There are evidences at rhe
present time which show clearly that
either the republican national commit
tee or a syndicate In close touch with
1t has recently been participating In
speculative syndicate which has for
Its purpose the making of campaign
capital in addition to few dollars.
| 1t Is often asserted that during the al
most continual decline In the price OF
silver bullion since the demonstration
of silver in 10, tho price of wheat has
!. Il - .n1a
tive worth have been gradually
widened. That this Is not true IL
shown in the repo:fof the United States
department of agriculture showing the
average price Of wheat for the years
1866 to 1895, inclusive, Before silver
was demonetlzcd II sold at $1.20 per
ounce. From 1856 to 1869 the average
price of wheat was $i.is bushel. From
1870 to 1879, $l.o4; from 1874 to 1880, 05
cents; from 1891 to 1883, So cents;
from 1856 to 1890, II cents, and from
1891 to 1898, GO cents. With the appre-
citation in the price of gold the ten
dency Ia for higher prices for wheat.
and 1t Is recorded that In so far ns
money con have any influence on tho
price of wheat, high prices for silver
have always brought high prices for
wheat. Such advance however, would
not be uniform with the advance Of
both silver and wheat. Under bime-
tallic system the premium would be
removed from gold, and silver, Of
course, would advance. This would In
o measure equalize the advance in tho
price Of wheat. According to the esti-
mate made by one Of the most proui-
nent grim dealers in Chicago, the i'd
vince from T0-cent wheat would DO
about one dollar, while silver would nt
once go'to $l.20.
The Wall Street Journal gives the
following explanation Of the weakness
In silver, so far as il Is considered as
commodity:
1.-THE explanation given by dealers OF
the weakness In silver Is absence of
demand for India. This Ii considered
conflrinatory OF the reported shipments
of wheat from here TO India and makes
the silver situation interesting. Here
tofore lndia had wheat for export and
silver was In demand In London to
pay for India wheat. Having no wheat
now to export the demand for silver has
lcsscned, and India in buying wheat Is
buying it on gold basis aud paying
practically $l.30 bushel In silver for
what costs about 10 cents bushel in
gold in Chicago.
1--WE learn. however. that other fac
tors at this moment are more power
fully at work lcssening the demand for
silver. One Is the heavy liquidation In
London within the past ten days in In