The age-herald., 1897-09-07
Talks on the Subject of the Price
 of Wheat and Silver.
LAW OF SUPPLY AND DEMAND
Prosperitys Wave Due to More Money Placed in Circulation and That Is the De-
 mand of the Bimetasts.

Sunday Of an exclusive article rom William J. Bryan in which the demo- cratic leader discussss the effect of the rise in wheat upon the cause of bimetal- hsm. The article is clear and force- ful presentation of the democratic posi- tion. MT. Bryan shows the causes which have brought higher pric+ for wheat and contends that the result is sure to be a benefit to the cause of bimetallism rather than an injury. In beginning his argument he briefly states his case in this way: -.s ''Thsl rise in wheat will aid rather than injure the cause of bimetallfsm. While a few people may be inclined to give an administration credit or blame, as the case may be- for everything that happens during its existence, every in- telligent person reasons from cause to effect. Wheat has risen because the Soreign crop has been exceedingly short. amstallists contends that the law of SUD- ply and demand is universal They apply it not only to money, but to bull lion-both gold and silver-ito wheat and to every ether 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 Ameri- can wheat grower is just now profiting by the almost unprecedented disaster which has ovsrtalSen the wheat growers of India, Europe and South America.
 If continues MT. Bryan, "the repub- licans desire to claim credit for the high price of wheat they must assume re- sponsibilhty fer the famine In India- Will any republican convention point with pride to the famine as an evidence that the republican party is redeeming its campaign pledges? Will the repub- lican panty pledge itself to use it's best efforts ito continue the famine abroad as it plsdged itself last year to promote international bimetallism?"
 MT. Bryan calls attention to the real significance of this republican rejoicing over the rise in wheat. "In admitting the rise to be beneficial" he said, they answer the arguments made last fall by the leading advocates of the gold stand ard and plant themselves on the ground heretofore occupied by bimetallsts We were told last fall that an approaching dollar was natural blessing, and yet within year the enlbire republican press is in ecstacy because the purchasing power of a dollar has been to some ex- tent decreased
 'T'he wage earners were told last fall that a riss in the price of commodities would be detrimental to them, and yet, behold how happy the republican spel1- binders are because one great staple hour-llaS risen.
 ''The laboring men were told that their wages would be virtually reduced when 1t required more dollars to buy @ given amount of food and clothing. Can it be that our opponents dlave forgotten the railway sound money clubs? As soon GUS the employees asked for their share of the promised prosperity the large em- ployers will be compelled to raise wages or ceass boasting that prosperity has re- turned"
 MT. Bryan points out the essential diff ference between this recently assumed position of the republicans and that of the advocates of the restoration of bi- metallism.
 'dThe latter" he says "desfre to raise all prices to tine bimetallic level and then keep them there by a financial sys- tenn which will furnish a standard money sufficient in volume to keep pace with the demand for money; the former praise a dear dollar. but grow happy over the cheapening of dollar in its relation to a few articles. A general rise quickens enterprise for the time being, and the maintaining of the level, when reached, protects business in general and the producers of wealth in particu- lar from the disastrous effects of falling prices a rise in a few articles may bring advantage to those who produce such articles, ard yet be detriment to those who are engaged in the production of articles which do not enjoy corne- spending rise"
 Mr. Bryan argues in favor of general rise In prices showing the benefits to be derived all around. He declares that the good effect of general rise and a sub seqHent level of prices would be wide spread and permanent.
 eff" fue continues, "it is said that rising prices do an injustice to the own CTS of money and those enjoying fixed incomes, let it be remembered that the restoring of bimetallism can only take away the advantage which the gold standard gave. It is a choice between falling prices indefinitely continued and return to the bimetallic level. The gold standard gives a perpetual ad- vantage to the money-owning class and works a perpetual injustice to the pro- ducers of wealth, while bimetallsm gives a temporary advantage to the pro- ducers of wealth at the expense of the money owners. and then establishes jus tice between all classes by preserving stability in the purchasing power of the dollar"
 Depending as it does upon the wheat famine in other heat-producing coun- tries the present high price in ths coun- try, he contends must be wiped away when foreign crops become normal. Tn discussing what will happen when those conditions are restored, MT. Bryan says
 What will be the political effect of this temporary avarice? That 1t must be adverse to the republican party is certain. If any are foolish enough to credit the rise to the new tariff law, to