The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1897-09-10
PRICE OF WHEAT
Did Not Rise Because Of Any
Legislation.
ton. uiot,aFu r. Inland piaoeA tho credit
Whore IT Belongs and Predicts
That Calamity WIN
Follow,
New York, Ars 2o.-The World to.
day publishes the following:

l4eBdubu, Mo, AUS sCt lOOi'
at cannot be contendcd that the
great rise in the price of wheat and
consequent promise of prosperity to
the farmer is in consequences Of the
passage of the Dlngley bill or any other
law incident to the Mckinley admins
tration. The rise in the price of wheat
has been phenomenal, it is true, but 1t
began in London and Europe before 1t
began here 1t will hardly be asserted
that the Dingley bill or anything else
relating to the present administration
caused the rise in the price of grain in
Liverpool or European markets. This
is not even claimed. 1t was not expect
ed that the Dingloy bill would raise the
price Of wheat or farm products in any
country.
"Yct the fact that wheat and other
farm products, AID especially food pro-
duets are higher In Europe and in
other countries now than they were be-
fore the election of Mr.. Mckinley, or
before his inauguration and before the
passage of the present tariff bill, Is
proof positive that the rise in prices
has been occasioned by things occur
ring outside Of the United States and
not within It. The failure Of the wheat
crop in the principal countries Of the
world that come into competition with
the United States, as Is we'll known, is
the sole cause Cf the rise In the price
of wheat The fact that other wheat
producing countries, and especially In
dia, have suffered a failure in the
wheat crop, has occasloned the present
rise in the price of food products in
this country, to the extent at least that
India and other wheat producing coun-
tries have heretofore competed with
our farmers in the markets of the
world.
1T Is to be hoped, and no doubt will
be true, that this present rise in the
price Of wheat will add many millions
probably more than a hundred mill
lions-to the income OF the American
farmers for this season. This will be
great boon to them and the whole
country, and we are all very glad, 50
far as our own people are concerned,
that such are the special conditions un-
der which the American agriculturlsts
are now situated.
1T will also, TO some extent, at least,
inure to the benefit CT the Federal
treasury, and incidentally. probably, to
the advantage of the present admins
trotion. No doubt our present good
yield OF wheat and other food products
will cause an influx Of gold to this
country, or so regulate and govern tho
exchanges abroad as TO prevent 0ny
gold shipments from here for many
months to come. This In itself will
strengthen the Federal tncaeury, or at
least prevent the withdrawal OF gold
from 1t, and give a steadlness TO tho
money market that perhaps otherwise
would not have occurred.
But, after all. are good prices, or
nigh prices, a good thing? The gold
have heretofore contended
that low prices we're not In themselves
q bad thing. They have Insisted that
for the pas. 20 years or more prices on
commodities everywhere on an average
have gone steadily down, whereas on
the other hand, wages for labor have
gone steadily uD. They have attrlb-
uted this to the operation Of the single
gold standard and have heretofore
claimed that such a condition Is the
best for maHllind. and that low prices
inure to the benefit Of the masses.
"On the other hand tho advocates Of
the free coinage Of silver have insisted
that low prices, or falling prices, means
of business, failure Of en-
terprises and the throwing of labor out
Of employment; that low prices ultl-
mately mean the oppression of tho
debtors, because low prices mean high |
money, dear money. For speaking of
prices and money relatively, when !
prices on commodities On an average
Rre low and falling, It necessarily
means that 1t takes less money from
doy to day to purchase commodities;
that Is to say, that money as COM
pared to commodities Is constantly ris- |
Ing In value, while commodities are
constantly falling.
"Now however, the god advocates
seize upon the fact that there is ris- |
In prices, and especially in the prices |
Of Cur farm products, ana allude to II |
rs an indication of returning prosper
ity and attribute It to the elections OF
last fall the victory that Mckinley |
won over Bryan and the passage Of the |
protective tariff bill. They now insist 1
that rise in prices Is a good thing, so |
that the argument Is now upon. our
side and the admission OF cur oppo-
neDts we cite against them.
1--WE contend that the rise In prices
Is exceptional, that It has been caused
by nature, brought about by causes
over which the legislature or the ad-
has no power; that, there
fore, neither the gold standard. the /
election Of Mckinley nor the passage ,
of the tirIfs bill has anything TO do
with affecting fnvorably the rise in
prices or the price of anything except .
hose prices that are artifcially in
creased in value by the protective
-ariff. This artificial increase will last
rs long, probably, as the law !ncreas-
ng them remains ur1n the statute
book, but the rise In the prices OF farm
products will remain only So long as
he exceptional conditions exist; that
Is 70 say, so hong as there are failures
Of crops elsewhere md we have fair
crops IN our country.