The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-07

G. wheat will aid rather than IMPURE the
c.use OF bimetallism. While few people
rnay be inclined to give an administrator
~-o5;t or blame, as the case may be, Ior
everything that happens during It's exist
enee. every intelligent person reasons
from cause to effect.
wheat has risen because the foreign
.,ron has been exceedingly short bimetai /,
r;.ts contend that the law OF supply anu
demand is universal. They apply 1t not
onlv to money, but to bullion, poth golu
end silver. to wheat and to every othef
.rticle of value. They contend that TIE
arcbangeable value Of both money anu
,corcha ndise will be affected by anything
--E;oh effects either the demand or the
supply. = irst
.,ow profting by the almost unprecedent-
"A disaster which has Overtaken Tue
vhaat growers Of India, Europe ana
South America.
REPUBLICAN RAPTURE IN Ne
BRASKA.
Whom wheat reached IS cents bushel
. Republican in western Nebraska point,
Cd out that the rise was just about equai
10 the tariff on wheat, and attributed the
rise to the Dingley law, but 1t would pe
an insult to the intelligence Of the ave-
rere Republican to suppose him capable
- cber;shing such a delusion. Whlle
vheat is higher in Liverpool than 1t IS
In New York land it always, or nearly
.Iways. isl a tariff on wheat has no IN
fluence upon the price IN the ohlteo
States. q,
In an interview given out Aug. =,
President Mckinley said: The cause OF
the present boom in the west is I'M
doubtedly due, in a great measure, to the
hrEe crops and high prices caused by the
failure of crops in other countries"
@PoINT WITH PRIDE TO FAMINE
ABROAD.
Tf the Republicans desire to claim cred
II for the high price of wheat they must
assume responsibility for the famine in
India. Will any Republican convention
s4point with pride" to the famine as IN
evidence that the Republican party is re-
deeming it's campaign pledges?
Will tile Republican party pledge itself
10 use the best efforts to continue the fam
me abroad. as it pledged itself last year
to promote international bimetallism?
The most significant thing about Re-
eublicans rejoicing over the rise in wheat,
IS that in admitting the rise to be bench
cial they answer the arguments made
last fall by the leading advocates OF the
gold standard and plant themselves on
the ground heretofore occupied by b.
metallists.
We were told last fall that an appreci-
ating dollar was national blessing, and
yet within year the entire Republican
press is in ecstacy because the purchas-
ing power of dollar has been to some
extent decreased. =
The wage-earners were told last fall
that rise in the price OF commodities
would be detrimental to them, and yet.
behold! how happy the Republican SPELL
binders are because one great staple
fOur-has risen.
HOW WILL PROSPERITY BE d.
VIDED?
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 have forgotten the
railway sound-money clubs?' AS soon as
the employees ask for their share Of the
promised prosperity the large employers
will be compelled to raise wages or cease
baastifng 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 financial system
which will furnish a standard money suf-
ficient in volume to keep pace with the
demand over the cheapening Of the dollar
in it's 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 particular, from the disastrous effects
Of falling prices; a rise in few articles
may bring advantage to those who pro-
duce such articles and yet be detriment
IN those who are engaged in the produc-
+;on Of articles which do not enjoy cor
responding rise.
WILL WAGES RISE TOO?
A few instances may be given. If wool
rises, the wool-grower will be benefited,
Int the manufacturer of woollen goods
will suffer unless there is corresponding
advance in the price Of wooden goods.
But an advance in the price of woollen
goods is an injury to those who wear
wooden goods unless they enjoy a CORE
spending increase in their incomes.
If sugar rises, the Sugar Trust reaps
the profit but it must be at the expense
of those who consume sugar unless the
consumers of sugar can make enough
more to cover increased price. So, when
wheat rises, the wheat-grower is bene-
flied, but he profits at the expense OF
those who use -four unless the latter in
some way secure corresponding increase
in their incomes.
A general rise in prices should be fol-
lowed by rise in wages. Mr.. Carlisle
in his speech of 1878, commenting upon
the advantage to be secured through
the Bland act, said: "Instead Of con-
slant and relentless contraction; instead
of a constant appreciation of money and
depreciation Of property, we will have