The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1898-07-22
The Monetary Problem.
A FINANCIAL ALLEGORY.
Use of Wheat and Corn-The
Farmer and His Debts.

Under stress of extraordinary cir
cumstances the farmers (people) of
certain country became very largely in
debted TO the grain dealers of the
world.
The Indebtedness was of various
kinds and payable in different ways.
After time. at the suggestion and for
the better security Of the grain dealers,
law was enacted making all Of the
debts payable in grain" at fixed prices
for each kind.
The term grain had previously been
legally defined to mean wheat and corn.
each OF specified measure. weight and
quality.
The grain dealers were very intclli-
gent. They had great wealth and large
experience. hence they had great influ-
ence with those literary, legislative
and other agencies which mold public
opinion and control legislation.
They understood fully that the uni
versal law of supply and demand de-
termines the market value of all com
modities. hence II they could largely
lessen the use and demand for one kind
of grain, il would diminish its price
while the price of that which must sup
ply its place and use would be increa sed.
They therefore used their great in
fluence 10 procure the enactment in
many countries of a law that corn
should not be used rs food for cattle.
hogs or horses. This. OF course, caused
the use and demand for corn TO be much
less. and that for wheat much greater.
for all were Obliged TO use wheat only.
where both corn and wheat had been
used before.
Thus. although the culture and pro-
duction of wheat largely increased as
compared with that of corn. the price
of wheat went up while that OF corn
as measured in wheat went down. I'M
til the market price of corn rs meas
ured in wheat was about half as much
as before their corn laws" were en-
acted. although a bushel of corn would
still pay for nearly as much property
other than wheat as il would before
Meantime the grain dealers had qui-
city but successfully used their infiu-
ence to have men Of their own number
or those who would favor paving all
debts in wheat placed in control of the
farmers business.
Many friends Of the farmers main
tanned that it would be just and legal
10 paw their debts in corn or wheat.
But the grain dealers and those whom
they had placed in control exciaim:
"Oh. no. not so. we allow. for we can
not deny. that payment in corn would
be legal. but ii would not be near so
we'll for us as the payment OF wheat.
You farmers are too proud. too patri-
otto and too honest 20 wish 10 pay US
in anything but that which is best for
us. We trust that you can be made
10 believe il would be almost like re-
pudiation 10 paw us in corn. We know
YOU would scorn to even seem to re-
pudiate any part of your debts We
/ hope YOU will be willing TO keep us and
our friends in control of your business
so that we can be sure 10 get our pay
wholly in wheat" What ought the
| farmers TO do? What will fheydo?
Suppose il is suggested TO the grain
dealers that the farmers are proud pa
I triotic and honest: that. being so. they
would scorn TO repudiate any honest
debt that they wish TO. and viii pay
their debts honestly and In full. but in
order that they may be able 70 do 50
il NAV be well TO allow them 10 place
| disinterested men in control OF their
business. and that IL they shall decide
to pay debts partly in wheat and part
" in corn. the grain dealers can save
themselves from loss on corn by re-
pealing the laws discriminating against
corn. thus restoring il 10 lis normal
value as compared with wheat.-E. "
/ I. L. n or,