The people's journal. (Pickens, S.C.) 1891-1903, 1897-09-16
BRYAN WRITES OF SILVER AND WHEAT,
THE Law OF SUPPLY AND DE
MAND.

Temporary Prosperity Due to Nor
| Money Conditions Exist Now Tha
May Not Next Year.
The New York World makes ,
strong feature of an exclusive articl,
from William j. Bryan, whom it styles
the unquestiOned leader of grea
party. He discusses the recent rise
In wheat as it affects the cause O
blmetallism, and makes a forceful pre-
sentatiOn OF the Democratic position
on the silver question
LINCOLN, Mob, Sept. 3, 1897.
The rise in wheat will aid rather
than injure the cause of bimetallism
While few people may be inclined tc
give an administration, credit or blame
as the case may be, for everything
that happens during it's existence,
every intelligent person reasons from
cause to effect.
Wheat has risen because the foreig n
crop hos deem exceedingly short
Bime tallis's contend that the law Of
supply and demand is universal. They
apply 1t not Only to money, but to bull.
ion, both gold an1 silver, to wheat and
TO every other article Of value. They
contend that the exchangeable value
Of both money and merchandise will
be affected by anything which affects
either the demand or the supply.
The American wheat grower is lust
cedented disaster which has overtakcn
the wheat growers Of India, Europe
and South America.
When wheat reached IS cents a
bushel Republican in Western Ne.
braska pointed out that the rise was
just about equal to the tarill on wheat,
and attributed the rise to the Dingicy
law, but it would be an insult TO the
intelligence Of the average Republican
to suppose him capable of chcrishing
such dclusion. While wheat is
higher in Liverpool than it is in New
York land it always, or nearly always,
Isl tariff on wheat has no Influence
upon the price in the United States.
In an Interview given out Aug -,
President Mckinley said: The
cause of the present boom in the West
is undou btcdly due, in a great measure,
to the large crops and high prices
caused by the failure OF crops in other
countries"
II the Republicans desire to claim
credit for the high price OF wheat,
they must assume responsibility for
the famine in India. Will any Re-
publican Convention "point with
pride " to the famine as an evidence
that the Republican party is redeem
ing it's campaign pledges
VIII the Republican party pledge
itself to use it's best efforts to continue
the famine abroad, as it pledged itself
last year to promote international
bimetallism ?
The most significant thing about
Republicans rejoicing over the rise in
wheat is that in admitting the risc.to
be beneficial they ar6wer the argu-
ments made last fall by the leading
advocates OF the gold standard and
plant themselves on the ground hero
tofore occupied by bime allists.
We were told last fall that an APP
preciating dollar was u national bless
ing, and yet, within Il year the entire
the purchasing power Of dollar has
been to sOme extent decreased
The wage-oarners were told last fall
that rise in the price of commodities
would be detrimen ntai to them, and yet,
behold how happy the Republican
spellblnders are because one great
staple--ilour--has risen.
HOW WILL PROSPERITY i;E DIV DEu Z?
their wages would be virtually reduced
when it re quired moro dollars to buy a
given amount OF food and clothing.
Can it be that our opponents have for
gotten the "railway sound money
clubs 20 AS soon as the employees
ask for their share Of the promised
prosperity the large employees will be
compelled to raise wages or cease
boasting that prosperity has returned.
While the Republicans seem to have
come over to our position, there is this
essential difference between them and
the bimetallists the latter desire to
raise all prices to the bimetallic level,
and then keep them there by q finan-
cial system which will furnish a stand
ard money sufficient in volume to keep
pace with the demand for money the
former praise a dear dollar, but grow
happy over the chapcning Of the dol
lar in its relation to a few articles.
n general rise quickcns enterprise
for the time being, and the maintain
Ing OF tho level, when reached, pro.
tects business in general, and the pro.
ducers OF wealth In particular, from
the disastrous elects of failing prices:
rise In few articles may bring ad-
vantage to those who produce such
ar ticles and yet be dctriment to those
who are engaged in the production OF
articles which do not enjoy CORES
pondlng rise.
WILL WAGES RISE TOO?
A few instances may be given. If
wool rises, the wool-grower will be
benefited, but the manufacturer OF
woollen goods will suffer unless there
is q corresponding advance In the
price OF WOODEN goods.
But an advance in the price OF
woollcn goods is an injury to those
who wear woollen goods unless they
enjoy corresponding increase in their
incomes.
If sugar rises, the Sugar Trust reaps
the profit, but it must be at the cx-
pcnse OF those who consume sugar un,
less the consumers of sugar can make
enough moro to cover the increased
price. So, when wheat rises, the
wheat-growcr is benefited, but hc
profits at the expense OF those who sc
flour unless the latter in some way
secure a corresponding increase IL
tn cir incomes.
a general rise in prices should be
followed by rise in wages. Mr.
['t.... l. . l..