The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-09-26
. His Repeated Assertions Concern
ing India Wheat Proven
False.
HON. JAMES BRYCE SPEAKS.
Den'as by Members of the English
Parliament and a Prominent
London Merchant

Jennings Bryan 10 the farmers of Ne,
York assembled AT Chauiauqua, the In
dia wheat fake was revamped by th
silver candidate for president. The as
sertion made by Mr.. Bryan in hi
Omaha debate last May that the Eng
lish spectators could drive great ban
gains in buying silver and trading
for India wheat 10 the detriment of IN
American farmer was reiterated ant
embelliShed by his fcrvid imagination
so as 10 create the impression that III
decline of silver has made India tn
most formidable competitor of tn
American wheat and cotton growers
As usual. Mr.. Bryan talked at ranlon
without taking the trouble to acquain
himself with the actual facts.
The Rec now has the facts and The
Bryan's India fake. Over two month,
ago the editor of the Bee directed per
soual inquiry on this subject 10 Hon
james Bryce who is row and has fol
many years been a member of Parlia
ment and was member of the
British board of trade. Responding "a
this letter, under date of August I, Mr.
Bryce saysi
You are quite right in thinking that
British merchants gain nothing AT all
from the closing of the Indian minis.
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 q turning into English gold the
silver prices they receive for the goods
they export 10 India. The export of food
stuffs from India has not. | gather, in
crea Sed during the last few years and
the closing of the minis has not increased
il. Manchester and our manufacturers
generally complain that business with
India j. improbable. Our cotton indus
try is NJ 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. y. Amman Bryce, very
prominent London merchant. who was
for many years a resident of India. Mr..
j. Aupsn Bryce says:
Tor Mr. Rosewaters guidance | have
made up the annexed statement, which
shows in parallel columns the exports of
tine. Russia and India up 10 1873 be-
fore the fall in silver and rupee en-
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
dis are falling off. and that in the year
1888 tho exports from India were the
same as in the year 1877. OF course il
does not do TO reason on individual years
III
such az famines, 10 account for very
short years. For instance. 1878 and
1873 were the years of the great fam
ina in India and 1892 was the year of
the famine in Russia.
Dividing the last twenty years into pc
RODS of I'VE years each. you will see that
during the last three fve-year periods the
exports from India have been falling Oft
" hlo those from the United States, Ar
gcntinC and Russia have been increas-
ing. although all the while rupee OK
change has been steadily falling with
silver. The figures prove cOnclusivcly
a regards Indian wheat. which has
always been the great bogy with the
American silver man, that the India cx-
port has had nothing to do with the
fall Of silver or ruDec exchange. The
silver man would bc more sensible If he
were 10 take alarm at the growing OK
ports from Argentine and from Russia.
But lie 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 inconvcrtblc
paper currency and not either silver or
gold.
Altogether the facts illustrate the
soundnoss of Mr.. Roscwater'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-
bic not because the exchange value of
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
Punjah, for instance. many millions OF
acres were brought into cultivation under
irrigation rs soon as the opening of the
railway 10 Earachi made the export pos.
siblc. But in India there no longer
remains any large new field to be opened
IN. and in most of the whcat-producinc
districts which depend on irrigation
believe as much water is now taken out
of the rivers as they can give. Amcri
ca therefore need not fear India much
in the future. even if silver and rupee
not
The statistical exhibit accompanying
this statement is exhaustive and con
vinciDg i'm support of the conclusions
arrived At by Mr.. Bryce. In 1873 tn,
export of wheat from the United State,
20 England was ~. 191 .G66 bushels: from
Russia. 41,0i0.000 bushels: Argentine
made no exports and India exported {
fraction over 1.2JO.OO0 bushels. In 1877
wheat exports from the United States
had reached 107. 426.G66 bushels; from
Russia. ~. 10000 bushels; from Indi;
15.633, 333 bushels; Argentine still Ia,
no wheat to export. In 1899 wheat OK
ports from the United States had reached
oh, S13.333 bushels: from Russia. 100.
375,00O bushels; from India, 2I,0G6,G6'
bushels. and from Argentine, 42,O0O,O0
bushels. In 1891 Argentine exportc,
65.0O0,O00 bushels of wheat to England
while India did not increase its expor
over the preceding year In 1875 tn
wheat export from the United State
was 17O.333.333 bushels; from Russia
1jG,323,3 33 bushels: from Argentine
$1,000, 0O0 bushels; from India, 15,l20
Coo bushels.
The average price Of wheat in BON
@ IA