The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-09-11
Sherman'S Confession.
FARM PRODUCTS WOULD RISE

That with Free coinage OF SILVER
FARM PRODUCTS WOULD Rise
In an interview one day last week
John Sherman was asked the quee.
ton; Would free coinage cause o
rise In the price OF farm produc tss
He replied:
"UndoubtedIy. But what good
would that do II the money 80 paid
wiz only buy ono half what II
should, or does buyf There L. nc
use having bushsl Of money II Il
will buy nothing"
1.-THE important point" says the
South Bend Times, ''is Mr.. Sher-
mans frank admission that the price
Of farm products would be increased
by the adoption Of free coinage OF
silver. That 10 what the farmer IL
interested In knowing and under
standing. 1t will give him new
hope, much needed encouragement
and confidence In his ability to pay
taxes, interest and debts. And
when the farmer Is prosperous,
everybody else will share his pros
perity. The merchant 10 likewise
benefited. Goods will no longer
depreciate on his shelves; people
will buy more freely; they will be
able to pay for what they buy, and
the gloom OF despair will vanish.
Mr.. Sherman has indeed made AN
important admission.
All our readers. h owsver, should
remember that Mr.. shermans opin-
ion In this respect IL that OF every
political economist Of any repute.
Read the following statements OF
established principles by recognised
authorities:
That commodities would rise and
fall In price in proportion to the In
crease or diminution OF money as
sumo as q fact that is Incontroverti-
BILE. That suoh would be the case
the most celebrated writer's on poll
tical economy are agreed.-Ric'
cardo.
II the whole money In circulation
was doubled, prices wpald double
II 1t was only increased one fourth
prices would rise one fourth The
very same effect would be produced
on prices II we suppose the goods
(the uses for money! diminished In.
stead Of increased. and the contrary
effect II the goods we're increased AND
the money diminIshed. So that tn
value Of money-an other things Re
naming the same-vayies inversel,
as its quantity; every increase Il
quantity lowering its value an
dimihution raising IL Ia BsAo ex
actly equivalent That an ineseas
In the quantity Of money raise
prices and q dimisAsIOa hover
them is the most elementary psepo
sition In the theory OF cursencv. sn'
without II we should have No hey
! any other.-Adam Smith
The quantity Of primary money
other things remaining che same
determines the general level o
prices whilst, % the other hand tn
quantity Of token money - determ
lined By the general lsvel OF prices
Were the operation Of IN apprsciat
ing currency equal upon sQ mer
little damage might b done, bu
he psrishes drss who y weakes,
and BY biz ruin drags down On
stronger. The fsvmor IA the weak
est Of capitalists, and therefore ha
she least power Of resis tanoe, be
cause he can not suspend produc
tion. In like manner farm labor
weaker than industrial labor, be
cause IL can not combine. There
fore, agricultural peices are the mos
sensitive, and IL IL only subsequent.
that manufa cturers suffer through
the failure Of demand.-Prof. Mich
olson. OF Edinburg university.
And Hon. jeremiah Rusk, tn
genial "Uncle jerry who was MI
Harrison's secretary OF agriculture
said, In his annual report Of 1890:
The recent legislation looking (
the restoration Of the bimetalli
standard Of our currency, and tn
consequent enhancement ~ tn
value Of silver, has unquestionabl
had much to do with the recent nd
vance In the price Of cereals. Tn
same cause has advanced the pric
OF wheat In Russia and India, and 1
the came degree reduced their powe
Of competition. English gold wa
formerly exchanged for cheap ell
yer, aud wheat purchased with tn
cheaper metal was sold In Ores
Britain for gold. Much Of this nd
vantage is lost by the appreciation
of silver in those countries. 1t
reasonable, therefore, 20 expet
much higher prices for wheat tina
have been received In recent year
ACCORDING to 6auerbeck III
/ ~