Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1897-09-22
WHEAT AMI PRoal.sa,Iy
The Death Diow 10 Free silver



The Death Diow 20 Free silver
ssSuc.
The extraordinary and upcN oecteo
appreciation i'm the price Of wheat j.. of
course. esneciallN gratifying. Lec;r,s.
IL means taat this vast harvrS, win
bring To the American people rerhans
as much as S2OO.0OO.OO0 more this wear
than has been received in any other
year since 1891 for this staple. or this
enormous sum it seems likely that the
iarnetS viii receive the greater propoy-
ton. The best authorities assert that
while speculation has been very great.
nevertheless il has so happened that
TINS year the spectators have been
gambling upon product which they
did not possess, but which for the most
part the farmers still retain i'm their
possession. Therefore. unless there os
depreciation in the price of wheat. the
farmers of the United States are sure
to receive the greater part of this
enormous appreciation in price
What that means to the American
people the mercst tyro in political econ.
omy or in business can easily under~
stand. IL represents the difference be-
tween poverty and plenty. 1t means
that debts will be paid and n balances
viii he left after such use of money.
which Will either go into circulation by
means of the expenditures of the farm.
crs, or will bc placed in savings or 9th.
err banks, where it will become cap-
ital.
This immediate result OF the Amer
lean wheat harvest is, however, perhaps
tho 1angf inarAntnnt ~ h. s,p
which il is sure to cause In the first
place, IL seems inevitable that the great
agricultural community, or at least
that part of il which was disposed to-
support the theory that the depression
in the price of wheat was due to- what
was called the decentralization OF ell
yer, will now be convinced by unan-
swerabk proof that the silver question
had nothing 20 do with the low prices
which the American farmers received
for their wheat. While wheat has been
approaching the highest price recorded
for many years, silver on the other
hand, has been falling until il has re-
Gently touched the lowest price ever
paid for IT., so that two ounces of silver
represent the price offered for n bushel
OF wheat i'm the middle of August.
whereas wear ago it was claimed that
an ounce of silver bought bushel Of
wheat
We may expect, therefore. To sec that
an argument furnished 10y practical ex-
pcriencc, not 10y the politicians. has per-
mancntly convinced that great com
pany Of the farmers who were
persuaded TO free silver year
ago that they were then mistaken.
One result, therefore, of this experiences
in the summer of 1897 is likely to be
the extinction of the doctrine OF free
silver, at least as political issue.
Another result is TO be determined in
the more remote future 1t so happens
that the high price the wheat-farmers
are now receiving is in great meas
ure due to a deficiency in the wheat
harvest of other countries. That is IA
condition which will not he cxperi-
enccd every year. 1t is not to be pre-
sumed that the same causes will each
year combine To make the American
wheat harvests very profitable.
The best opinion. however, is that
wheat will never he as low as has been
the case for the past four or five years
The United States has practically
reached the limit of wheat production.
We cannot he expected to raise more
than GOO.OOO,OO bushels. because our
wheat area is comparatively limited.
Our population is increasing so rapidly
that the time is not far distant when
the United States viii require for homo
consumption all the wheat il can raise.
and perhaps it viii be compelled to I'M
mort the praiu That condition will