The midland journal. (Rising Sun, Md.) 1885-1947, 1897-09-10
Wheat and Silver.

Wheat and Silver.
Silver is an American product, all
American annual crop, SO to speak, as a
crop of wheat, corn or any other Amer
lean product. Wheat goes up i'll price
and all the goldhugs pretend to rejoice.
Silver goes down i'll price and the same
goldbugs rejoice. Why is this? Both
are American products, annual crops, and
if the rise in the price Of one is adding
wealth to the country and is hailed as the
revival of prosperity why should not the
other have similar effect The rise of
wheat from so cents-which price ruled
not long ago-to $I.oo a bushel is hailed
as great blessing to the business of the
country, because it promises to increase
the circulation Of money in the channels
of business and revive business i'll all lines
This being true would not the rise in the
value of silver from 40 cents to $I.oo have
a corresponding influence on business ?
If not why not? If all important Amer
lean crop is increased in value from 40
cents to 100 cents that much wealth
is added to the general stock of the
country. The rise in wheat will be
temporary. When the crop is disposed
of and consumed and the same conditions
which caused the rise have ceased to exist,
prices of everything which wheat has in
fluenced will fall back to their old level.
Not so, however, with silver. Were it
raised il value by demand for coinage, as
wheat was raised in price by demand for
bread, that coinage demand would con-
tinue and a steady stream of new money
would flow into the channels of trade,
reviving and stimulating business i'll every
branch of industry. 1t would not be a
partial stimulus, as the rise in the price OF
wheat is. The demand for labor would
spring up everywhere and in all lines of
business and all increasing steady addi-
ton to the volume of circulating money
would be ever present to sustain the ex-
paning business and keeping labor EN-,
ployed. This result can be only partial
and temporary on account of the rise i'll
the price of wheat.
The rise in silver would not only cause
a rise i'll wheat above the temporary price
now reigning but it would sustain that
price all along the line of business, by a
general rise in the level of prices. Such
rise wonld be permanent New indus
tries would open and make demand for
labor now idle.
The demand for wheat is owing to its
scarcity in the old world where crops were
universal failure to large extent
Scarcity made the demand for wheat and
the demand raised the price The same
cause-scarcity-has created the demand
for money, and the price of money is SC
high that labor is unable to purchased il
with all the wealth it can produce, except
in very limited quantities.
Silver is not in demand as a commodity
except to a limited extent; there are more
commodities now on the. market thar
there is money to exchange for them
But change silver from a commodity into
money, and it will Immediately rise il
value to that of gold, pull down the pre-
MUM of over 100 per cent that is now OF
gold, and with gold on all money, ant
raise the price of products of labor al
along the line. This being true, and it il
a most logical fact, why do the golc
monopoly express SO much JOY over thu
rise i'll the price of wheat and at the same
time greater joy in the fall of silver? Be
cause they are hypocrits. They do no
rejoice in the rise of wheat Or in the price
of any species of property unless that ris'
gives them chance TO speculate. They
want the price of everything in the shape
of property to go down and stay down 81
that their money will buy more property
1t is to the interest of every farmer tina
his crops should advance in price, henc,
his interest to promote every change tina
will help accomplish so desirable result
and there is no one thing that would
achieve so sudden and permanent result
for the American farmer as the free anG
unlimited coinage of silver into United
States dollars. That would not only pm
up the price of wheat above what thi:
famine rise will put it, but wonld keep i
permanently at a profitable price to the
farmer