The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-21
WHEAT AND HOG PRICES
r. r.. SHELL GIVES SOME FURTHER
OBSERVATIONS ON MARKETS.
Candidate Bryan's Argument Refuted
by Facts-Desfruction of the
Southern Hog Market.

r. r. Shiel, of this city, is always to be
found taking an active part in political
affairs, especially during presidential cam
paigns, but this year he has found that the
success of his business and that of the
farmers of the country with whom he
tranacts his business is so closely depend
ent upon the success of Mckinley, or, rath-
er, upon the defeat OF Bryan, that he is
leaving nothing undone that may add to
the Mckinley majority.
Mr. Shiel is one of the largest individual
stock dealers in the United States. He
buys cattle. sheep and hogs from all the
Western and middle States, and has GUS
toners all through the East and South
carrying on a business of millions of dollars
annually. He has been in this business i'll
this city for over thirty years, and in that
time has had dealings with the farmers of
Indiana in almost every county and town.
ship in the State. Mr.. Shiel regards the
possibility of the election of Bryan as a
great catastrophe, and recently he has pre-
pared some facts and figures relating to his
own business, by which he clearly refutes
the claim of Mr.. Bryan that low prices
have been caused by the decentralization of
silver. Mr.. Shiefs speech to the farmers
of Morgan county touched upon some
points along this line, and showed such
was asked yesterday to carry the argument
a little further.
IF Mr.. Bryans statement that the de-
monetization of silver caused a decrease in
prices is untrue how do you account for
the low price of corn, wheat, hogs, cattle,
sheep and other products this year?" he
was asked.
Il want to admit first said Mr. Shiel.
that these articles are low this year. They
are lower than they have been for num-
Der of years, but / cannot agree with Mr..
Bryan that the crime of '73 has anything
to do with it. If it did, the effect must
have been uniform ever since the passage
of the act with the possible exception of
year, when a given product unusually
scarce, at which time the price would be
regulated by the common law of supply
and demand. But has it been fact that
low prices have prevailed ever since the
decentralization of silver? Not at ALL
Take wheat, for instance In 1873 the
acreage of wheat in the great Northwest
was almost nothing compared with what it
is now. Twenty years ago the crop of
wheat raised in the United States was pro-
duced upon the farms of the middle States.
Each farmer had but few acres in wheat,
for in those days farmers followed the in
dependent idea more and raised everything
they needed their farms and divided
their marketable products between corn,
wheat and live stock Under those condi-
was needed and commanded a good price.
Now the DakotaS and the West produce
the great supply Of wheat for the i market;
from that employed by the farmers in In
diana twenty years ago.
WHY WHEAT IS Low.
Il have a friend in New York, Mr..
Dwight, who is very wealthy. and he tells
III bic
money by raising thirty-five-cent wheat in
Dakota than in any way he can invest. He
bought % 900 acres of land in South Dakota
at from 81 to Sc an acre, and of this he had
$4,000 acres in wheat last year. He plows
his ground with steam plow, turning ten
burrows at a time; he has railroad switch
running into his farm; he threshes and
loads the wheat right into the car, and as
Iong he get 50 cents or 40 cents a
buShel for it he says he does not want a
better investment for his money 1t is i'm
possible for farmers in Indiana owning land
worth from $40 to $50 an acre. and with
from ten to fifty acres in wheat to COM
pete with such wheat production as this
This is what has brought the price of
wheat down.
Another thing which has helped to lower
the price of wheat is the large crops in
Russia Hungary and India In these DAYS
of improved transportation on the water
it matters little in what part of the world
the abundance OF product is. it affects
the product everywhere. If Mr.. Bryan
would tell the truth about wheat, and say
that It is the large crops in Russia Hun
gard India and the Dakotas that has
brought the price of wheat down. the
American people would have more respect
for his Judgment and integrity.
Has the characterization of silver had
anything to do with the low price of corn
and hogs? Not a bit of It. Why, the fact
is that hogs. and in fact all live stock were
higher during the years 1889. 1890. 1881 1892
and 1898 than Immediately previous TO the
act of lS73.and higher than at any time after