The people's journal. (Pickens, S.C.) 1891-1903, 1897-09-16
country and Quicke ming tho pulsations
OF trade in all its dcpartme nts."
GOOD EFFECTS OF HIGH PRICES.

| Inc farmer and the MANUFACTURED
would each receive higher price fOl
his product and would be able to pa,
moro TO those employed in its prod NC
tlon. The laborers, on the other hand
would at once realize the advantage
enjoyed by the employer and their own
disadvantage and demand an increase
In wages. Tho labO" organizations
aldod by the increase d demand for la Dor,
would obtain this Increase and thus
secure protection from harm. The good
elect Of genera rise and u subsequent
level Of prices would be widespread
and permanent.
Inc owners OF money and the
holders Of fixed Investments are the
only ones to whom rising prices bring
real injury, and this injury is partly
rcmedied by tho greater security given
to investments.
III it is said that rieing prices do an
injustice to the owners OF money and
those enjoying fixed iacomcs, let it be
rcmemol red that the restoration of
olmctalllsm car only take away the
advantage which the gold standard
gave. II Is Il choice between falling
prices indefinitely continued and IA
return to the bimctallic level. The
gold standard gives a perpetual ad-
and works perpetual Injustice TO the
producer OF wealth, while bimctalltsm
gives temporary advantage to the
producers Of wealth at the expense Of
INC money owners, and, then Cstab-
fishes justice between all classes by
preserving stability in the purcha s.
ing power Of the dollar.
Inosc who understand tho cause Of
the recent rise in wheat know that the
price will fall when foreign crops
again become normal; in fact, wheat
has already rcccdcd twice owing to
the lear that the first reports Of foreign
crop failure wcrc exaggerated. The
export price Of wheat for the wear
ending June 80, lS02 was $l.03; for the
year following it was 50 cents !: by the
iSt OF November, 1893, the price had
fallen below 1Occnts.
What will be the political effect of
this temporary advance?
That it must be adverse to the re.
publican party is certain If any arc
foolish enough to credit the rise TO the
new tarlll law, To the gold standard or
TO res tore d confidence" the spell will
De broken when wheat returns to the
lcVcl Ol the last lew years. The dis
appointment Will then be tho moro. in
tense because OF the temporary dclu.
sion, and the Republican papers which
are to-day calling attention to the
price OF wheat arc simply laying up
for themselves additional trouble.
The advocates Of Oimctallism can
rejoice in the rise while it lasts, and
when 1T is over they can contrast the
advantages of higher prices, due to an
Increased volume Of money, with the
short lived benefits OF u spasmodic
rise, due to famine so distressing as
TO appeal to the sy mpathy and charity
OF the American people.
An official in the Agricultural De-
partmcnt has recently issued IL state
mcnt estimating that the farmers Of
the United States will receive for their
wheat crop this year several hundred
millions moro than they received for
last years crop, and points out the
stimulating e1lcct Of this amount of
money on other branches Of industry.
THIS 10 another C0IfirmatiOn OF the
arguments made by the bimctallists.
y GOOD SIGN.
a. large part OF this money comes
from abroad. Wheat is not only high
er, but more OF it is being exported.
II we had enough money in this coun-
try, an Increase in the volume wuuld
be an injury.
If an increase in the volume of
money, secured by the expectation Of
higher wheat, gives cause for rcjoic-
ing, is it not evidence that we now
have an insufficient quantity
III the farmers arc constantly re-
minded OF the large increase in the
value OF this years crop, wilt they not
DC aple to calculate their loss the more
easily when wheat goes down?
Is 1T not possible that tho pleasure
experienced from the rise in wheat
Will lcad farmers TO desire an increase
IN the price OF other farm products :?
" men thcy learn the advantages Of
restored prices will they not seek some
more durable means of sustainin@
prices than a drought or q famine :?
The department official has also con
tributed to our cause by emphasizing
the benefit received by other Industries
from the farmers prosperity.
The President during tho last cam
paign gave uttcrancc to a very clfoc-
tive phrase when he suggested the
opening Of the mills instead Of the
mints, but he was answered by the
statement that the mills would oocn
when the people were able to buy the
products Of the mills. When a Gov
ernment official points out the advant.
ages ACQUIRING to the country from the
fact that the farmers have several
hundred millions Of additional money
to spend in paying debts and buying
merchandise, he strengthens the posi-
tion taken by bmetallists.
If C rise in wheat will enable the
farmers to pay their interest more
promptly and have money left to buy
merchandise, how much greater would
be the general benefit if the rise cx
tended to all agricultural products ?
POLITICAL EFFECT or THE RISE.
In calculating the political cifoct Of
q rise in wheat it must be remembered
that many farmers were threatened
with foreclosure during the last cam
paign and that q considerable part Of
the money received for wheat will be
employed in paying OF mortgagcs.
Thus intimidation will DC somewhat
res strictcd, but the demand for mer-
chand'so will be leas IAN it would be
under ordinary circumstances. The
reasons given above for believing that
bimctallists will find encouragement
rather than discouragclnent in present
conditions are the same which have
been given by other advocates OF
bimetallism. Those who advocate