The Butler weekly times., 1897-09-09
WHEAT AND SILVER.
Congressman Bailey Analyses
Their Relative Condition.
Their Divergence Of Value Due 10 Tn
usual Demand for Wheat
Abroad.


| Abroad.
st. Louis Republic.
| Houston, Texas, Sept. 5.-Con-
gresham Joe ". Bailey has posi-
lively announced that he will not be
a caod!date for United Sta 'es Sena
tor, but will conclude his term in
congress. Further, he says: Those
who think the recent rss in the
pllce of wheat has refuted our arsu
ment fer the free coinage of silver
take strangely peificial view of
the question We have never con
tended that the gold standard rem
ders all Use III tie price Of commod
tiles impossible; but our contention
is that it keeps the average price of
all commodities below what it ought
to be, and prevents the rises which
do occur from going as high as they
would under system OF BIN sta!-
lism. Tie fact that wheat is worth
more now than it was last year only
proves that small crop will! fetch
better prices per bushel than large
crop-a pnopos ition which no wise
man ever doubted, and No candid
man ever denied So far from ig
noring the law of supply and de
mand, free silver advcc,tes have
steadfastly recognized it's operations
but we have il sisted that it applies
to money as we'll as to commodities.
Price simply expresses the relation
between money and property; and
plainly, that relation may be altered
by movement in money as we'll as
by movement in property
Our gold standard friends ought
to investigate the question before
they conclude that the recent rise in
the price of wheat disproves our as
sertion that money has been appre-
ciating since 1873. The records are
accessible to all, and these records
show that the average price of wheat
on the farms in the United States in
1873 was 81 % per bushel, while
tie average farm price this year will
not exceed Is cents per bushel.
"If the value of money had not
changed the price of wheat would
be greater now than it WAS a years
ago, because the wheat crop of the
world outside of the United State S
approaches nearer to a complete
failure than il has in 80 years. If
the men who are now rejoicing in
advanced price of wheat, more be-
cause they think they see political
advantage in it than because of the
benefit it brings 10 cur farmers,
will look below the surface they will
fad an overwhelming confirmation
OF our argument. We have insisted
throughout this entire debate that
tie gold standard is vicious because
it results in system of falling p,i
ces, and We have asserted that there
can BE- no real and general prosper
ity in this country until the farmers
realize fair prices for their products.
"All tae argument that we have
ever mads could not have proven our
assertions SO concluslvely as recent
events. The improvements in The
times is due to an improvement in
prices, and this viudicates our posi-
sition because we haze steadily con
tended that falling plices made bad
times and rising prices made good
times The common sanse os the
people everywhere recognizes this
economic truth today. and there Is
not a man anywhere who would be
willing to put the price of Sheat
back where it was II m onths ago.
| Under just and wise system of
bimetallism the farmers ofthis coun.
try could every year realize better
prices than they are doing in this
exceptional year under the gold
standard; and firmly believe that
when the people see how much more
prosperous country is with good
prices than it has been with falling
prices, an overwhelming majority Of
the American people will vote to
establish financial system which