The state herald., 1897-08-20
ALTCELD SEES GLOOM.
Ex-Governor of Illinois Tells How the
Jump In Wheat and the FAN In the Price
Of silver Affect Doctrine of
Drmosrury,

Chicago. Aug. 16-John =. Altgeld.
ex-governor of Illinois, has given out
his opinion on the effect OF high prices
on wheat and the low prices of silver
ON the doctrine of Democracy, and of
the future of the party. lie was sit
ting nj his desk In his office In the Uni
~ building when the following telc-
gram was handed him:
New York. Aug. IL. lS97.-Thc Hon.
John T.. Altgcld, Chicago: WIN you
obllge the Herald by wiring us ut our
expense your Views OF the effect OF the
high prices of wheat and the low prices
of silver on doctrines of the Demo
cratic party Of the last campaign and
on the future Of the party;
NEW YORK HERALD"
Mr.. Aligcld Immediately wrote this
reply:
Chicago, ILL.,. Aug. IL. lS9T.-EdItor
OF the New York Herald:-Sir: An
swering your telegram. ! viii say the
American people know that, while the
wheat crop Is phcnomcnally large In
our country, II Is II failure In the South
American ana European countries. SO
that there must come u kind of wheat
famine. and that consequently the
farmer should get over Sl.5O for his
wheat. and would get that under the
financial system which formerly pre-.
vailed In the world. so that he IL even
now suffering a wrong caused by leg
islntIon.
~, The average price OF all other
commodities known 10 the worlds mar.
kcis has been steadily falling. aud sill.
yer. whose uses have been restricted
by legislation. has simply kept pace
with the commodities, ms shown by the
London markets. In our country the
price Of corn aud most OF the other
farm products Is 80 low as not to pny
the actual cost Of production. The
present advance In wheat being due TO
n temporary cause cannot give general
or lasting prosperity; besides. only n
small portion Of the farmers OF Amcrl.
ca raise wheat,
-. Should the kiondykc country or
any other cause Increase the volume
OF the worlds money ms TO produce
prosperity. II would he dcmonsirn.
'lon OF the correctness Of the Demo.
crntic position. viz, that an Increase
In the volume Of money gives pres.
pcrlty. while n reduction IN the quaint.
~ of money produces paralysis
~. The country hns now enjoyed
over nine months Of restored conf.
icncc.' aud. ns u result. the great cot.
ton mills Of New England have shut
down because they could not sell their
products. The cnnl miners of Anerl.
On nrc on n strike against hunger nnd
against nnkcdncss, aud the Chicago
city Hallway Company, which last
winter helped 10 drbnuch the Lcgsln
turc Of Illinois. nnd got advantages
worth millions Of dollars. has Just civ.
On notice 10 lis men Of u reduction In
wngoH
''rho condition OF the debtor md hon.
cst tollcr II getting steadily worse.
Congress has Just given the sugar trust
aud kindred patriots u commission to
collect several hundred r1iillon dollars
a year tribute IN excess OF whnt they
formerly got from the sven, Of Amcri
| can industries In order that these pn.
iriotH may not nnnAa fortunes them.
selves. hut mny contrib .te millions 10
cnrry elections. The newspapers nre
pcralH,on,ly calling this prosperity, but
the American people nrc not fooled by
II aud the Democratic party II not be.
ing weakened by these proceedings.
| 20. Nearly nll of the events slncc the
election have tended 10 show that the
Democratic party was right IN the last
campaign and TINT the gold.sinndnrd