Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1897-09-23

more TO cover the increased price g
when wheat rises, the wheat grower !,
benefited, but he profits at the exna,s,
OF those who use -four unless the latte,
In some way secure a corresponding in,
crease in their incomes.
A general rise in prices should be fol.
lowed by rise in wages. Mr.. Carlisle
IN his speech of 1878, commenting unor
the advantages 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
expansion TO the extent of at least
81, 600, 600 per month"; and under lis
influence the exchangeable value az
commodities, including labor, will soon
begin to rise, thus inviting investment
mtusing life into the dead industries az
the country and quiekening the pulsa.
lions of trade in all its departments. :,
Good Effects of High Prices.
The farmer and the manufacturer
would each receive higher price for
his product and would be able to nav
more TO those employed in its produc-
ton. The laborers, ON the other hand
would at once realize the advantage en-
Joyed by the employer and their own
| disadvantage and demand an increase
in wages. The labor organizations aid.
ed by the increased demand for labor
would obtain this increase and thus Sc.
cure protection from harm. The good
effect of a general rise and a subsequent
level Of prices would be widespread and
permanent
The owners Of money and the holders
of fixed investments are the only ones
TO whom rising prices bring a real in
jury, and this injury is partly remedied
by the greater security given to invest
ments
If it is said that rising prices do an
injustice 10 the owners Of money and
those enjoying fixed incomes let it be
remembered that the restoration of BIZ
metallism can only take away the adj
vantage which the gold standard gave
1t is choice between falling prices in
definitely continued and a return to the
bimetallic level The gold standard
gives a perpetual advantage to the
money owning class and works per
petual injustice to the producers Of
wealth, while bimctallism gives a tenn
porary advantage 20 the producers Of
wealth at the expense Of the money
owners and then establishes justice be-
tween all classes by preserving stability
in the purchasing power of the dollar.
Those who understand the cause Of
the recent rise in wheat know that the
price viii fall when foreign crops again
become normal In fact, wheat has al
ready rcceded twice owing 10 the fear
that the first reports Of foreign crop
failure were exaggerated The export
price of wheat for the year ending June
80, 1892, was 81 03; for the year fol-
lowing it was so cents; by the LIST Of
November, 1898, the price had fallen
below 20 cents
What will be the political effect Of
this temporary advance?
That it must be adverse to the Re
publican party is certain. If any are
foolish enough to credit the rise to the
new tariff law, to the gold standard or
20 restored confidence, +" the spell will
be broken when wheat returns TO the
level Of the last few years The disap-
pointment will then be the more in
tense because of the temporary delusion,
and the Republican papers which are
today calling attention to the price of
wheat are simply laying up for them
selves additional trouble,
The advocates of bimetallism can re-
ioice in the rise while it lasts, and
when it is over they can contrast the
advantages of higher prices, due TO an
increased volume of money, with the
short lived benefits of a spasmodic rise,
due to a famine so distressing as to APP
peal to the sympathy and charity of the
American people.
An official in the agricultural depart
ment has recently issued statement
that the farmers of the
United States viii receive for their
wheat crop this year several hundred
millions more than they received for
last wear crop anu PoAhN9 NNA' '
effect of this amount OF
money on other branches of industry.
This is another confirmation of the ar
made by the bimetallists,
Money Coming From Europe-A Good |
Sign.
A large part Of this money comes
from abroad. Wheat is not only higher, !
but more of it is being exported Il we
had enough money in this country an
increase in the volume would be am IN
jury.
If an increase in the volume Of
money. secured by the expectation oil
higher wheat gives cause for rejoicing,
is it not evidence that we now have an
quantity?
If the farmers are constantly remind.
ID of the large increase in the value OF
this year 5 crop, will they not be able
to calculate their loss the more easily
when wheat goes down?
Is it not possible that the pleasure
.;,,,,,,d from, the rise i'm wheat VIII /