The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-06

~ can not De cOntenueu tDht Tue
, great rise in the price OF wheat and con-
sequent promise OF prosperity to the farm
er is In consequence of the passage Of the
Dingley bill or any other law incident
to the Mckinley administration. The rise
in the price OF wheat has been phenomenal,
1t is true, but 1t began In London and
Europe before 1t began here. 1t will hard
ly be asserted that the Dingley bill or
anything else relating to the present od-
minstration caused the rise In
THE PRICE OF GRAIN.
In Liverpool or European markets. This
is not even claimed. 1t was not expected
that the Dingley bill would raise the
price OF wheat or farm products In any
country
Yet the fact that wheat and other farm
products, and especially food products, are
higher In Europe and other countries now
than they we're before The election OF Mr..
mckinley. or before his Inauguration and
| before the passage OF the present tariff
bill, is proof positive that the rise in prices
mas been occasloned by things occurring
OUTSIDE OF the United States and not within
| It, The failure Of the wheat crop in the
|
INTO competition with the United States,
as rs well known, is the sole cause OF the
rise In the price OF wheat. The fact that
other wheat producing countries and CO.
| pecIally lnfia, have suffered failure in
the wheat crop, has occasioned the present
rise In the price of food products in this
country TO the extent at least that India
ana other wheat producing countries have
heretofore competed with our farmers In
| the
MARKETS OF THE WORLD.
1t is to be hoped and no doubt will be
true that this present rise In the price of
wheat viii add many mllions--probaby
more than hundred mlllons-to the in
come OF the American farmers for this
season. This viii be n great boon to them
and the whole country and we are all
glad, so far as our own people are CON
cerned, that such are the special condi-
lions under which the American agricul-
turlsts are now situated.
1T will also. 10 some extent at least
inure to the benefit of the Federal treas
ury. and incidentally. probably, to he adj
vantage of the present administrations No
doubt our present good yield of wheat
and other food products viii cause an in
lux of gold to this country, or so regulate
ana govern the exchanges abroad as to
prevent any gold shipments from here
for many months to come. This in itself
VIII strengthen the Federal treasury or at
least prevent the withdrawal of gold from
IT, and give a steadiness 10 the money
market that perhaps otherwise would not
have occurred.
But. after all. are good prices or high
prices. "A good thing? The gold advoclt It's
nave heretofore contended that low prices
were not In themselves bad thing. They
nave insisted that for the past twenty
years or more prices on commodities every
where on an average have gone steadily
down, whereas, on the other hand, wages
for labor have gone steadily up. They
have attributed this to the operation OF
the single gold standard. and have hereto
iore claimed that such condition is the
best for mankind, and that low prices inure |
to the benefit OF the masses
"On the other hand, the advocates of
the free coinage Of silver have insisted
that low prices, or falling prices. means |
Stasnaton OF business. failure OF enter
priaes and the throwing of labor out of
employment; that low prices ultimately
mean the oppression Of the debtors, be- |
cause low prices mean high money, dear |
money For speaking of prices and money
relatively, when prices on commodities on |
an average are low and falling, 1t neces- !
sarliy means that 1t takes less money from |
Is 10 say that money as compared 10 COM |
modlties is constantly rising in value.
NOW, however. the gold advocates seize /
upon the fact that there Is q rise in prices
and especially in the prices of our farm
products and allude to it as an indication
RETURNING PROSPERITY.
And attribute 1t to- the elections OF last
fall the victory that Mckinley won over
Bryan and the passage of the protective
tariH bill. They now insist that a rise
In prices is n good thing, so that the ar
spment is now upon our side and the
admission OF our opponents we cite against
them.
We contend that the rise In prices is
exceptional, that 1t has been caused by
nature, brought about by causfs over which
me legislature or the administration has
no power; that therefore neither the gold
standard, the election of Mckinley nor
ne passage of the tariff bin has anything
10 do with affecting favorably the rise In
prices or the price of anything except those
>ilces that are arthcially increased In
Ialue by the protective tariff. This arti-
lcial increase VIII last as long probably,
Is the law increasing them remains on
ne statute book. but the rise in prices of
arm products will remain only so long as
ne exceptional conditions exist: that Is
% say. so long as there are failures of
'rops elsewhere and We have fair crops in
,ur country.
"on the other hand. the election Of Mr..
3ryan and the restoration OF the free COIN
'ge OF silver would have
INCREASED THE PRICES
iot only of farm products but Of all
'ther property; would have given en-
'loyment to labor at better wages, and
nus revival of business and better
lines would have been made permanent
~ the reformation of our monetary sys-
EN- and not depend upon the mere whim,
20 TO speak, OF natural causes'--that is to
ay, the failure of crops in other coun-
ries Another contention that we insGted
N Is now admitted by our opponents {
nat the prosperity OF the farmer--the ag-
lculturist--is the foundation OF the pros I
,erity OF all other people OF this country.
No nave insisted that the decentralization !
u SILVER caused fall In the price of prod
cHs generally but particularly the fall
n the price of whnnt aud NJ all atha- -. |