The Advocate and news., 1898-02-02
The Most Important Question.

Editor Advocate and News: :-WheI
'we fairly and honestly consider The
money and bond question, it is very
convincing that 1t Is the most impor.
tant question and which has most re.
tarded the prosperity Of the farmers
and general productive interests of oul
country. We find by careful study thai
after silver was demonetized in 1879
and as the disparity between silver and
gold increased that our productive prop
erty and commercial products depre-
ciated in the same proportion until farm
and other productive investments were
at ruinOus discount.
The partial restoration of silver in
1878 and again I'm 1890 checked its de-
cline, with good results In 1890, when
the Sherman silver bill was passed, sill
yer advanced from SO cents to $1.O4 an
ounce. This was the time when Presi-
| dent Harrison admitted that the i'm
proVement in prices and business was
due more to the Sherman bill than to
the tariff. During this period the prices
of all products advanced. Our wheat
crop of 1891, which was estimated at
Gil, ,78O, 600 bushels, was the largest wheat
crop in the history of our country. We
also find in the United States Statisti-
cal Abstract No. 19, page 364, that the
average export price Of wheat at New
York for that year was $1.09 per bushel
and corn 20 cents, oats 46 cents, cotton
10 cents per pound, and. with an average
OF good prices for all products. Our
great corn crops of 1889 and 1891 av-
eraged a much better price than our
corn crops have since 1893 with some
lighter crops.
Since 1898, and after the Cleveland
administration repealed the Sherman
silver bill and the mints of India were
closed to silver, the disparity between
gold and silver rapidly increased, while
at the same time our productive in
vestments and commerce has ruinously
deprecated as measured in gold. 1t is
true that the present rise in the price of
wheat from an Improbable price to
merely paying price has benefited and
encouraged the farmers who had a good
crop of wheat. But 1t also true that
this rise in the price of wheat cannot
be accredited to any change or improve
ment in the measuring value of our
money, but owing to the great Eu-
ropean shortage, or Ae corn and cotton
farmers would also be getting profitable
prices for their products along with the
wheat farmer During the time. from
1890 to 1893, when all products were
bringing better prices and our large 1891
wheat crop was disposed of at a better
average price than the present much
smaller crop Is going at, there was much
less published through the press of the
country about the prosperity of the
farmers. When the farmers were as a
class much more prosperous than at
present. II the European wheat crop
had been up to the average, same as
two and three years ago, we would
hear nothing about great booming
price for wheat as we now hear, but
the prevailing price would be ruinously
low, same as cotton and corn. The
cry of Overproduction is mainly a de-
luslon when q great number Of the peo-
pie Of our country are half clothed
We learn in the public press that an
almost unprecedented prosperity is COM
ing upon the farmers with good prices,
and in the same paper the corn and
cotton farmers are told that they have
produced too much, that they must
raise less to get paying prices. The
theory is more of a
scheme of TIE great bond producers to
their dear money with than a
reality. With corn at an average farm
price of II to is cents and cotton at 5 |
cents per pound the situation gives these
producers very small share of the
standard league of New York are float
ing the country with, and furnishing
free to the editors of all periodicals who
will publish their deceptive sound money
items. When the farmers are
really getting profitable prices for their
products and their investments are
yielding a good interest return above
expenses, and their property advances