The times., 1897-09-01
A COLO STANDARD FICTION
The SophistFy About the Low
Price Of Silver Exposed.
WHY WHEAT ROSE so HIGH
The White Metals Uses and There
fore Its Demand Restricted De-
mand for the Cereal Abuormaily
Great-An Interesting Talk With
Congressman De Graffenreid.

The newspa perS that denounced William
Jennings Bryan and the Chica go platform
last year are pointing with pride to the
rise in the arice of " heat and the decline
in the price OF silver and are saying ex-
,,ltlngly. I'VE told you 30" And while
they are thus apparently bubhling over
with enthusiasm, shouting in clarion tones
that prosperity is at our threshold, 5hey
are losing sight oil tile TACT that lne argu-
ment they are now making fully sustalns
the position taken by the silver men in the
last campaign.
Congressman II. C. De Graffenreid, oil
Texas. wh,. has devoted much Time 10 the
study of the financial question, said To Il
party Of niends yesterday that norhiag
could be more easily explained than The
late rise III " heat and the fan in silver.
Its an Ill wind" said he, that blows
no good Our farmers are this year blessed
with abundant crops and the wheat-GT'o-
ducing countries on the other side OF the
ocean are up against it. Their crops
have gone hack on them, especially in In
dis, the country whose wheat comes into
words, the demand for American wheat Is
almost greater than the supply, and hence
tie big prices which the spectators are
just now reaping. OF course, l am sorry
to say this will not Away continue, roF
next year the demands for wheat by reason
OF good crops on the other side mag be
only normal, and in thai event our farm
ers will Eou receive any more for bileir
wheat than formerly
Let the mints of the United States,
England, France and Germany be opened
tomorrow 10 silver continued Mr. lte
6raffenreid, .'and you viii see the price
Of the white metal rise steadily until il
reaches the level Of gold. Why would it
rise Simply because OF the denand-the
same Is the demand now for wheat.
Another thing 10 which l desire to call
your attention is this: Since the fail OF
the price OF silver during the present few
weeks the gold press Of the country, with
fiendiSh delight has with one accord de
clared that our standard silver dollar was
worth BAT 10 cents and a fraction, which
varies from day 10 day sometimes more,
sometimes less. IL seems To me that the
advocates Of the single gold standard are
bent on bringing about another panic sucn
as we had in ] s93 And the way they pro
pose t. do tits by denouncing our standard
silver dollar, which. they claim, is not
worth a dollar. If they can instill that idea
into the minds of the people, ii VIII bring
about one OF tie worst panics ever eN-
perienced 10y this country. People who
own silver dollars will demand their re-
dpHptinn In golc.
Last year Secretary Carlisle, in a state
ment he made during the campaign, de-
| cIareG thai if necessary TO maintain the
/ parity between Tie Two metals it would
| be the duty of the Government TO redeem
silver dollars with gold dollars. By that
declaration AR. Carlisle virtually FepuJii-
/ ated silver as one of the moneys Of final
redemption. Now, everybody knows that
our standard silver dollar is worth q hun
/ dred cents and pays d hundred cents OF
/ drbt-as much so as the gold dollar.
This continued denunciation and lihel
/ Of oar foUG hundred million silver dollars
/ ard the charge that they are worth only "A
little over "a cents apiece is not calcuIa:ed
/ to inspire confidence in the Government.
More than anything else, the charge TINT
! tue silver olpIl8ris worth but q trifle over 40
cents, but viii pay as much debt rs the gold
/ dollar, is a sufficient answer to the gold
4 bugs
Tins country is hig enough and strong
| enough to open its mints To silver. and II
that We're done the price OF silver bullion
ike the 2rict OF wheat would 20 up because
/ OF thederr and. The purchaseufs silver bull ~
! 10y the Government and the free coinage oi
the white metal, the same as is accorded
gold, are entiI ely { twOdifferent propositions
! If the Government would buy allrhe silver
| produced in this country yand coinit, it wOnld
not help matters much, for the Govern
! ment cealG stiIl be discriminating against
the white metal.
The only solution Of the question is TO
| open the uiints to silver the same as gold
| Prosperity viii never comethrou&h thecua
Traction of the currency, which the gnlL
bugs ere doing bydiscTeditlng our STANDARD
/ silver dollars
WHIST the country needs j. merem9ney
This VIII be theiSsne in the next campaign
/ In ny Judgment, that issue viii win