The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-28

| GRAlN-O has that rich seal brown o
Mocha or Java, but II is made from pur
grains. and the most delicate stomach re
ceives 1t without distress. 4 the price O
coffee. l5c and 25c per package. Sold b.
all grccers.
, people nave been depositing gold in tn
!, treasury OF the United States and tax
ing paper instead. WY The deciara
J tion Of the Republican party va. that a
our money should be kept equal. Tn
| declaration for gold standard, did no
mean gold only in circulation, bur j
meant that while the standard should b.
gold, our currency should consist Of gold
silver and paper, one dollsr as good Al
any other dollar, and all as good as gold
That was the Republican position an
that Is the present corii:ion OF the cur
rancy and the Republican party is il
favor Of maintaining that condition. Ou
opponents stated in the last campaig,
that the gold standard was too expensiv,
and that it required the sale OF s262. 900,
900 OF bonds in the last three years in o..
der TO maintain it. We stated that tbs
sale Of tnoS. bond was rendered neces
sary by deficient revenue, and that tins
| Republican party had maintained the
gold standard from 1879 to 1898. withou
Issuing bonds and that it could be done
| again. and would be done if the Repub
lean marty was returned to power. Nc
bonds have yet been issued and none
will be issued during McKinley's ed
ministration, for it is not necessary tC
| issue them in order to maintain the gold
| standard, and il will not be necessary tc
| Tar +or VI
law that viii produce revenue sufficient
10 pay the current expenses OF the gov
eminent.
| THE QUESTION OF PRICES.
| We have learned one other thing since
| the election. Thoye who believed in free
silver it was necessary to have the free
and unlimited coinage of silver in order
| to give US more money; that there would
be 10 rise in prices as long a. We main
| tanned the gold standard. We have al
ways been told by our opponents tina:
silver governed and controlled the price
Of wheat. What are the facts? Silver
is lower today in price than at any other
time in the history OF civilization cheap
er than IL was ever known before, AMI
still while silver has been going down,
wheat IA. been going up, up, until now
il brings better price than at any time
since 1891.
Kansas does not produce silver. 50 the
interest of this state in the restoration
Of silver was not 70 secure better price
for that commodity, but the people Of
this state were informed that the re.tor-
alton os silver, and raising it TO 1929 an
ounce. measured in gold, would result
in raising the price Of all farm products.
and that the low price Of these products
wcs cue to the demonstration of silver
in 1879. They were never able TO ex-
plain how it was that an act of legisla-
ton in 1873, did not makes its effect felt
until 1898, but they insisted that there
would be no advance in farm products
until silver was restored. We insisted
that the low price of wheat and other
products was due 10 the fact that there
was large increase in the supply and
decrease in the demand. We showed
that in 1892 when the country was pros
porous and every one who wanted en-
ployment could secure il, every man,
woman and child in the United States
consumed six bushels of wheat. That in
1894, with the mills closed, with thous-
ands of laboring men living upon chart
ty, that every man. woman and child,
living in the United States. consumed
three and ons-half bushels of wheat, and
with this difference in the consumption
in the two years we gave a reason for
the low price Of thisproduct. Our oppo-
nents took issue with us on this PROPOSE
ton, and scoffed at the law of supply
and demand. Mr.. Simpson, in the joint
debate at wellington, made use of the
following language, referring 10 my ar
gument that the low price OF wheat was
due to the increased supply and the de-
creased demand for that product:
Now. Mr.. Long says prices are con-
trolled by supply and demand. We will
see. Now, here is a quotation and fig
ures from the Statistical Abstract that
he has shown you mere today. Now. let
as see about that. Since 1887. the popu-
lation OF the countries which use wheat,
have increased over fosty millions. Now.
so much for the law o: supply and de-
mand. While the crop has steadily de-
creased-wnile the worlds supply has
steadily decreased from 1887 up to today,
the price has gone steadily down with
the decline in the amount produced, al
thought the population that consumes
wheat, has increased forty million peo-
pie. So much for the law of supply and
demand. 1t has been proved, and Car
roll D. Wright says. for 400 year. that
an ounce OF silver and a busnel Of wheat
have not varied in the principal markets
OF the world. SO. We say restore silver,
ia TO restore one of the principal Pro-
ducts Of the world
That was one year ego. Mr.. Bryan
and mis- aiaerents now say that dollar
wheat is due TO the famine in India. and
the decreased supply of that product.
They say now that IL is something IN
wheat that causes il 10 rise and fall. One
year ago, they stated tina: Il was in the
money. That the only way 10 increase
the price OF wheat, was TO increase the
amount OF money in circulation, and
that the low price Of wheat was due 10
the fact that there was not money
enough in the country 10 do the bust
ness of the country. They stated that
the volume OF money in circulation reg
ulstsd the purchasing power o. money.
and that low prices are due 20 the fact
that the government has not provided
money enough. l quote the following
from the remarks Of Mr.. SimpSon n the
Joint debate al Harper, on September
20. 1895:
"I have said IN every one OF these ia-
bates, tina, the volume OF money in cir
culation regulates the purchasing pOTer
OF money. Not the material OUT O. which
money is made, but the number Of do
las % primary money in circulation
regulates the prices OF everything that
You buy with money. Now, Mr.. Long
5s,3,,.s. go. Ia x,vs that - ~. tine