The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1896-10-16
RRYAN'S india FAKE.
His Repeated Assertions Concern
ing India Wheat Proven
False.
qoy. JAMES BRYCE SPEAKS.
Der ais by Members Of the English
Parliament and a Prominent
london Merchant

N the speech delivered by William
7oorincs BRYAN TO the farmers of New
vorl assembled at Chautauqua. the In
A., wheat fake was revamped by the +
sarer candidate for president. The as !
sartiop made by Mr.. Bryan in his
Omaha debate last May that the Eng
fish speculators could drive great bar
csius in buying silver and trading it
Ear India wheat to the detriment Of the
American farmer was reiterated and
ambelished by his fervid magma alton
90 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..
Bryans 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 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 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 in turning into English gold the
silver prices they receive for the goods
they export to India. The export of food
sufs from India has not. l gather, in
creased during the last few years and
The closing of the minis has not increased
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. a very
prominent London merchant. who was
!0r many years a resident of India. Mr..
j. Annan Bryce says:
For Mr.. Rosewaters guidance l have
made up the annexed statement. which
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
da are falling off, and that in the year
1895 the exports from India were the
same as in the year 1877. OF course ii
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, 1878 and
M were the years of the great fam
Inc in India and 1892 was the year of
NE famine in Russia.
Dividing the last twenty years into Pc
RODS ot dv" years each. you will see that
CURING the last three hve-year periods the
experts from India have been falling off.
While those from the United States. Ar
SeniIhc and Russia have been increas-
lns although all the while rupee ex-
en9hse has been steadily falling with
SILVER. The figures prove cOncIusively
as regards Indian wheat which has
a'WaES been the great bogy with the
american silver man. that the India ex-
for' mas had nothing to do with the
snNer man would be more sensible if he
were te take alarm at the growing ex-
p"rtS from Argentine and from Russia.
nuI ne could make nothing of the silver
a'suhent here: for neither Russian nor
ppSehune exchange depends on silver
DON countries. during the whole of the
FCn"q embraced in my statement. had
Tor the basis of their currency and of
ouI>e foreign exchange an incOnvertible
VdIeI currency and not either silver or
gold u
Aitogether the facts illustrate the
% GUINNESS OF Mr.. Rosewater's conclusion
4 sua' the tall in prices of commodities is
f +~o 10 more economical production and
aa~n>I'ort. In India. in Russia and in
hIa utile wheat exports became posi-
r ~~ fo' because the exchange value of
biuprt' the rouble or the dollar fell. but
pro1HSe railways were built into districts
p.VNouSly inaccessible. In India the
,bo alhS OF railway facilities stimulated
p r extension of irrigation. In the
"nJdb' Tor instance. many millions of
;rr;co were brought into cultivation under
rTi-"tlon as soon as the opening of the
ssaaiiWay 70 Karachi made the exnort nos
s sOle But in India there no longer
i M nl any large new field to be opened
diiS,r %u1 III most of the wheat-producing
bal;anI'S Which depend on irrigation
of ~ aS much water is now taken ont
o. ~. TX rivers as they can give. Ameri-
in tJL'efrtore need not fear India much
wor me future. even if silver and rupee
M = "Kely to so lower, which they are
III. ne statistical exhibit accompanying
VIM; statement is exhaustive and con-
arr;ra iS IN support of the conclusions
eyno nru At by Mr.. Bryce. In 1873 the
"a ~ .lo1 wheat from the United States
Pr island was 1871 .666 bushels: from
m@S1a, 4I040.000 bushels: Argentine
frca.; no exports and India exported a
wIoo oou over 100000 bushels. In 1877
had - EXPORTS from the United States
pnssiFe reached 107.426, 666 bushels; from
I5c2sS 300 ,l2oO 900 bushels: from India
no , ,,i ODD bushel.: Argentine still had
nor,, neat to export. In 1893 wheat ex-
poo :, tgc IN, the United States had reached
375 0o9 9'155 bushels; from Russia, 1O9.-
bnSS"]o bushels; from India. 81 .O66. 66fs
LnSheeiIs' and from Argentine. 10000 900
s. 00o 900 In 1894 Argentine exported
Mi? Uo 1 bushels of wheat to England.
Oyar Il Indla did not increase its export
wbaa+ ne preceding year. In 1895 the
was -e export JNt from the United States
l5G e5s ~ 1:SSS 1888 bushels: from Russia.
- o oo c ;S33 bushels; from Argentine
COZ g bnot bushels; from India, Is, 12O,-
bsv Ne e.. average price of wheat in Bonn
'tom 1869 to 1876 was $1.2O per