The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-05

Cuero. Texas, August cs.--Mr. n. A.
Peasants. one Of the leading advocates
OF silver In this congressional district,
gives out the following in reply to an
anonymous communication received:
New York. Minneapolis. St. Louis and
Duluth markets-wheat quotations for Au-
gust 20, 1897: Spot cash. 81 per bushel;
December wheat, $l.06.
Same markcte---Wheat quotations for
August 20, 1895: Spot cash, So S-s cents
per bushel; December option. sc cents.
''Siiver--New York quotations August
silver. 4oM cents.
Same quotations August 20. 1896: Bar
silver, 81 cents: Mexican silver, 531z cents.
why this tbueness?
Hadn't you better have this thing
Strengthened up SO that the plain people
can understand Mr. Bryans axiom that
with the rise OF silver comes advances
in staple products and with Its fall comes
falling prices to the farmsr?"
The above anonymous communication
was received in my mail yesterday. and
while l can not think that the question
therein contained was asked In good faith
by an intelligent man I will give the
author the benefit Of the doubt and answer
his question.
The plain people" have no difficulty
In understanding the law OF supply and
demand, end it's effect upon the price OF
commodities, and when II is well known
that the supply Of wheat is one-half less
than normal and there is no decreasein the
demand, the plain people" readily I'M
derstand why the price OF wheat should
be much higher.
The estimated shortage In the wheat
crop Of Europe for the year 1897 Is $780,
al No ~ Inai mn
South America is almost total failure,
| and the demand for our wheat is conse-
Quently much greater than 1t was In 1895.
On the other hand, while there has been
virtually no increase In the supply OF sill
ver, the demand has decreased because itH
present and prospective use as money has
| lessened. and therefore its price as a COM
| modify has fallen.
Neither Mr.. Bryan nor any Of his fol-
| lowers have ever denied or questioned the
| effect of the law OF supply and demand
| on the price OF commodities, but we insie,
| that the law applies as well to money as
| to commodities.
II the supply Of money be increased, the
| value OF money as compared to the yalu.
Of commodities, or in other words, the ex.
change value of money is decreased, and
| vice versa the exchange value OF commo-
| dities or products as compared to the value
| OF money Is decreased
So far as the present condition of the
wheat and silver market dsproving our
position 1t Is. to my mind. corroborativc al
| its truth. 1t is easy enough for the 'plar
| people" to understand that When we speal
of the effect of any general economic Law
we mean It's effect when operating uIor
normal conditions. Statistics show that IL
ordinary years for the past quarter OF
century the average price OF a bushel o
WHEAT has been the same as an ounce o
silver But no one has ever contended o.
supposed that the price Of wheat was no
effected by crop conditions. In years o
| normal crops the price OF wheat average,
that OF silver. but in years Of short crop
the price Of wheat has risen. Such is tn
condition now the supply of wheat is mucl
less than It has been for a number o
years, and owing To the increase OF tn
worlds population the demand is greater
and so 1t is that though the gold price O
silver has fallen to a point lower thai
ever before the gold price OF wheat ha
risen to point considerable above las
years price.
The real cause for the fall in the pric
OF silver in the past few weeks Is tn
awakening of the holders OF silver bullio
in England to the fact that Mr.. McKinIe
and his administration are working TO
gold monometalisni, not bimetallism; tina
he is undermining not backing up tn
Wolcott commission, and that there is n
probability of the attainment OF interna
tionsl bimetallism. Thus the same genera
causes have brought about the latest fa
in silver as brought about fall in silve