The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1897-09-02
Wheat and SILVER.

/
in the price of wheat while silver is down
says the Colfax Commoner. 1t is pointed
to az proof conclusive that there is no
and never has been any connection be
tween the prices of wheat and silver, anC
that, consequently, the silver mems con-
tention upon this head is false.
1t don't know what it is talking about
No silver advocate, or bimetalist. has
ever claimed that the price Of wheat ant
silver has always been proportionately
equal. But bmetallsts do claim, and
their contention is borne out by fact and
confirmed by the best political economists
that the general tendency of the price Of
products, including wheat, and the price
OF silver is the same. Bimetallists admit
that abnormal conditions, such as exist
at the present time in the universal de-
mand for wheat, can for a time reverse
| this law OF economics, thus making pro-
duets 90 up while silver goes down, o,
vice versa. The statistics of Mullhal
and other economic scientists show con
clusively that the general trend of the
price OF silver is the same as the genera
trend of the price of one hundred of the
leading products, including silver.
These facts are plain to every ihteli-
gent man.
Suppose that wheat should be one dol
lar next December and only fifty cent,
the following April, having gone up anC
down in the meantime until it settled Al
the figure last quoted, would we not say
that the general trend of the price o
wheat between December and April haC
been downward, even though the price
in February had reached 50 cents?
This applies exactly to the present con.
dition. The universal rejection of silver
as money metal, brought about by leg.
islative enactment forced by creditor
classes, has resulted in an abnormal sur
plus of silver and consequent decline oil
its bullion value, while the extraordinary
demand for wheat has given that com
modify high price in spite OF the gener-
al decline in values caused by the destruc.
ton OF one OF the money metals. But
the tendency Of the two--wheat and sill.
ver-to equalize their value remains, and
as soon as the abnormal demand for
wheat ceases, its price will again go rapid.
ly downward until it shall haye Raced
the level of SILVER. There it will stay
until there is another abnormal demand,
or until it shall be permanently and
naturally raised by the reconciliation Of
silver and the consequent enhancing OF
all values because of greater money
supply.
These facts are perfectly plain to think
ing people, who are thoroughly convinced
that If, with the present demand fol
wheat, We also had free coinage or BIZ
metallism, the price of wheat would be
even much higher-perhaps $3.50 pei
| bushel. for under free coinage the price
has been 81 80 per bushel when the de-
| mand was not near as great.
vi course the republicans have, tempo
rarily al least, the best of the situation
| for no one can prevent them from claims
ing that the gold standard and the Ding
ley tax bill are responsible for the rise in
the price of wheat, and there will always
be large number Of foolish and unthink
ing people whose gullibility is so marked
that they will believe such rot. 1t il
easy to make the blind believe that white
! is black.