Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1899-05-10
WEDNESDAY, MAY 10, 1899.
SILVER VERSUS WHEAT.

There is perhaps no argument ad-
vanced by bimetallists which has been
ridiculed by the adherents to the gold
standard theory as much as the fact
that the price OF silver has direct in
Auence upon the price of wheat Dur
ing the last campaign the republican
spell-binders would point to the tempo
rary divergence of the price of wheat
by reason of speculative boom and
with faces rejecting derision read the
death notice of the silver issue. Time
is a great arbiter, however, and at
this time, scarcely six months after
election, gold standard organs are un-
consciously proving that the conten-
ton of the bimetallists is correct. The
Minneapolis Tribune in an editorial
discussing the rise in the price of sill
YER in it's issue of last Thursday says,
''The United States Investor says the
effects of material rise in the price
Of silver would be far-reaching. Its
influence upon our International ex-
changes and the market values OF GER
tain commodities and Investment Sc
curities would be very pronounced. -
Such statement from the Investor
is all right, but from a bimetallist
would be "anarchy''. Farther on the
Tribune makes definite admission
as regards the price of wheat and tells
the tale Of Observation-Disclosures
as it has been told thousands of times
by free silver orators and papers in
the past:
"A material rise in the price of sill
YER, coming about from legitimate
causes, would also favorably affect
the price of wheat. The wheat bought
in the Argentine Republic and other
South American countries, also in In
dia, and exported to Europe, is paid
for in silver. The Argentine farmers
do not take much account of the mar
kct price of silver. To them a silver
peso, or dollar, is good for so many
cents. The lower the price of silver
the more favorable will be the rate OF
exchange for the exporters, and hence
the sharper the competition with
American wheat. An advance of ten
per cent. in the price of silver in New
York and London would virtually
compel the purchasers of Argentine
grain for export to pay ten per cent
more for it. This advance would he
speedily reflected in the markets OF the
United States.''
After having made this discovery,
the Tribune of course, as a "consist-
ent'' gold standard organ, needs must
and qualification to it's editorial so
as not to leave it's adherents without
at least an attempt of explanation.
Here it is
IAN artificial advance in the price
of silver, brought about by it's coin
age at a false and spurious ratio,
would not have the same effect upon
export commodities, and hence would
not benefit American farmers in COM
peting with other wheat-producing
countries. In order to be of any gen
uine benefit, the enhancement of the
price of silver must be legitimate and
due to natural causes.'
AS thin an excuse as this will cause
a smile upon the face of every reader,
even those of average discretion. The
rise in silver now is due to a brisk
demand from silver using countries.
This demand is legitimate. Remove
the discrimination practiced by our
government and thus vastly increase
the demand and the resulting rise will
be legitimate. There would be moth
ing false nor spurious about such
rise, no more than the rise of wages
caused by an increased demand for
labor would be false and spurious.