Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-07-21
A FINANCIAL ALLEGORY.
The Silver Question illustrated by fhe
Use of Wheat and COrn-The
Farmer and His Debts,

Under stress of extraordinary cir
cumstances the farmers (people) of a
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 a time, at the suggestion and for
the better security of the grain dealers,
a 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 inteIli-
gent. They had great wealth and large
experience, hence they had great inf1u-
ence with those literary, legislative
and other agencies which mold public
opinion and control legislation. They
realized their great power, and were
willing to use it to procure the enact
ment of laws which would inure to
their profit, and to influence the people
to acquiesce in such laws and such con-
struction of them in future as they
might wish.
They understood fully that the uni
versal law of supply and demand de-
termines the market value of all COM
modities, hence if they could largely
lessen the use and demand for one kind
of grain, it would diminish its price
while the price of that which must sup
ply its place and use would be increased.
They therefore used their great in
fluence to procure the enactment in
many countries of a law that corn
should not be used as 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 as 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 it would before.
Meantime the grain dealers had qui-
city but successfully used their influ
ence to have men of their own number
or those who would favor paying 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
TO pay their debts in corn or wheat.
But the grain dealers and those whom
they had placed in control eXclaim:
ooh. no, not so, we allow, for we can
not deny, that payment in corn would |
be legal, but it 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 to wish to pay US |
in anything but that which is best for |
us. We trust that you can be made |
to believe it would be almost like re- |
pudiation 10 pay 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 to get our pay |
wholly in wheat" What ought the |
farmers to do? What will they do?
Suppose it is suggested to the grain |
dealers that the farmers are proud. pa
triotic and honest; that, being so, they |
would scorn to repudiate any honest
debt that they wish to. and will pay |
their debts honestly and in full, but in
order that they may be able to do 50
it may be we'll to allow them to place
men IN control of their
business. and that if they shall decide
to pay debts partly in wheat and part
ly in corn, the grain dealers can save
from loss on corn by re-
pealing the laws discriminating against
corn. thus restoring it to it's normal
value as compared with wheat.-E. W.
Metcalf, in Silver Knight-Watchman.