The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-24
SILVER AND WHEAT.
SENATOR JONES TELLS WHY ONE
FALLS, THE OTHER RISES.
Law of supply and Demand, He Snys,
Is Solely RespOnsiblc for Pres
cnt Conditions.

Waco, Texas, August Ex-senator James
X. Jones, chairman of the democratic Ma
tional executive committee. arrived In the
city this morning. Senator Jones is here
on business connected with the American
Cotton company. he being one of the d.
rectors. and visited the round bale plant
early this morning.
After several hours consultation with
Managers Moore and Ball, the senator
gave audience to friends and newspaper
men. Asked II he would say anything on
politics. Senator Jones replied: Il do not
care to talk politics. as there does not seem
to be any occasion for IT. yet l am never
averse to speaking my sentiments on
political questions when / am asked to do
so. Upon what particular subject do you
wish me to speak?"
You are aware, senator, that tho re-
vtval Of business and the marked advance
| in the price of wheat is claimed by the
republicans TO be the result of their VIC
tory last fall and that the advance agent OF
prosperity is actually filling dates?"
1.-THE increase in the price OF wheat"
the senator began slowly, SIS the result
of failure OF the wheat crop in India and
in the Argentine Republic. and the prohib-
ton by the Russian government OF the
export OF wheat from that country. The
calamitous conditions in India have made
that country wheat importing market.
whereas 1t has for years past been
wheat exporting country. The Argentine
Republic has also exported great quantities
OF wheat in recent years bud the failure
of the crop has reversed conditions and she
| is now importing large quantities Of wheat.
Russia has always raised a surplus OF
wheat until this year and finding the crop
short at home and elsewhere except In
the United States, the Russian government
has prohibited its export. Under such con-
ditions II Is not strange that wheat should
| go up in price. What proportion OF the
crop In this country had left the farmer
before prices reached the remuneratlve
point is problematical but certain 1t Is
that wheat is now commanding a good
price. and the great advance is calculated
to have more or less effect upon business
generally.
1.-THE decline in silver attribute to ex-
aotly the same cause as the advance In
the price OF wheat namely, supply and
demand The failure in the Indian and
Argentine crop cut off the supply and the
demand forced the price OF wheat up. The
decentralization OF silver In nearly all the
| important commercial countries has de-
stroyed the demand for silver In those
countries, acting upon silver Just as
| big crop OF wheat in India, Argentina and
Russia acts upon wheat. Those three
countries are the only wheat exporting
countries in the world, except our own
land; failure of the crop In either Of them
advances tho price, a good crop In all OF
them lowers the price. Supply and de-
mand governs the price of everything In
Guiding money. and II silver were admitted
| to the minis as money metal demand
would DO created which would force the
price up. Just as the demand for wheat
has forced up the price OF wheat. The
result of the action OF Japan In changing
her coinage laws confirms the contention
| OF the democrats that the price OF gold
has doubled The japanese yen under tue
new law contains Just half the amount
OF gold that the old yen dus. while the
silver yen Is unchanged. The japanese
gold yen. under the old law, contained
25.72 grains of gold. while the new yen
contains 1896 grains. The silver yen re-
mains the same, containing 4l6 grains OF
silver. Whether the leading Nations VIII
continue a system. which has in twenty
years doubled the price OF gold, until Y
| is again doubled Is yet 10 be determined