The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1897-09-18
PROSPERITY AND WHEAT.
The Death blow TO Free silver as an
Issue.

/
The extraordinary and unexpected
appreciation in the price of wheat is, OF
course, especially gratifying. because
I IL means that this vast harvest will
bring 10 the American people perhaps
rs much as SeO0. 900. 900 more this year
than has been received in any other
wear since 1891 for this staple. OF this
enormous sum il seems likely that the
farmers will receive the greater proper
;ion. The best authorities assert that
while speculation has been very great,
nevertheless il has so happened that
this year the spectators have been
gambling upon a product which they
did not possess, but which for the most
part the farmers still retain in their
possession. Therefore, unless there be
depreciation in the price of wheat, the
farmers of the United States are sure
10 receive the greater part of this
enormous appreciation in price.
What that means TO the American
people the merest tyro in political econ
stand. 1t represents the difference be-
tween poverty and plenty. 1t means
that debts will be paid and balance
will be left after such use of money,
which will either go into circulation by
means of the expenditures Of the farm
ers, or will be placed in savings or 9TH
er banks, where it will become cap
ital.
This immediate result of the Amer
lean wheat harvest is, however, perhaps
the least important of the influences
which il is sure to cause. In the first
place, il seems inevitable that the great
agricultural community, or at least
that part of it which was disposed 10
support the theory that the depression
in the price of wheat was due TO what
was called the characterization of sill
yer. will now be convinced by unan-
swerable proof that the silver question
had nothing 10 do with the low prices
which the American farmers received
for their wheat. While wheat has been
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 a bushel
Of wheat in the middle of August,
whereas a year ago il was claimed that
IN ounce of silver bought bushel OF
" heat
We may expect. therefore, 20 see that
an argument furnished by practical en-
perience, not 10y the politicians. has per-
manently convinced that great com
1any of the farmers who were
persuaded to free silver n year
ago that they were then mistaken.
)ne result, therefore, of this experience
IL the summer of 1897 is likely to be
he extinction of the doctrine of free |
liver, at least as political issue.
Another result is to be determined in |
he more remote future. 1t so happens
hat the high price the wheat-farmers
ire now receiving is in great meas
Ire due to a deficiency in the wheat |
of other countries. That is a |
condition which Will not be expert |
need every year. 1t is not to be pre-
;uIned that the same causes will each |
;ear combine 10 make the American |
wheat harvests very profitable.
The best opinion, however, is that /
wheat will never be as low as has been \
he case for the past four or five years. I
The United States has practically (
cached the limit of wheat production.
We cannot be expected TO raise more |
han G00,oOO,000 bushels, because our /
wheat area is comparatively limited. |
)ur population is increasing so rapidly |
hat the time is not far distant when |
he United States will require for home
all the wheat ii can raise,
nd perhaps it will be compelled to i'm
,ort the grainC~>That condition will
end to maintain the price of wheat,
nd also constaI tly to appreciate it. ~
Therefore it is reasonable to SUPP
'ose that the experience of this year is
fair indication of what is in store for
he United States wheat farmers in the;
uture, so that they may hope that their
business, If the climate favors, may !
'ield them as great profits constantly
S are to be obtained from any other
orm of agriculture.-Leslie's Weekly.