Washington sentinel., 1901-01-12

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a memorial to the Senate Of the
United States by the representa-
tive of the State Oranges OF Cali
fornia. Oregon, Illinois, Washing
ton, Missouri, Virginia, and Penn
sylYania, demanding protection
for agricultural staples by a
bounty on exports as part OF an
act for the protection Of shipping
by subsidies. If protection is to
be the rule, let it apply to all. Let
agriculture get its share as well as
manufactures and shipping. Let
farmers stir themselves. Now is
the time to strike. The memorial
says:
The advocates of the Subsidy
Shipping bill claim he folio wing;
First, That it is intended to
protect American shipping against
the competition ofioreign ships.
Second. That this protection is
intended to diminish and eliminate
the employment OF foreign ships
in our foreign carrying trade and
to give this trade to American
ships.
Third. That thus will be built
up a great American merchant
marine.
Fourth. That all this will be OF
service to this nation by keeping
at home large sums now paid to
foreign ships; by the employment
OF American capital and labor IN
the building and manning Of Amer
ican ships; bv supplementing the
strength OF the navy in the train
ing of American seamen, and in
the use OF merchant ships in time
ofwaT.
That these claims warrant at
tentiou Is evident, but shat they
are conclusive is not so evident, as
will be shown.
Setting aside all other arguments
tor the time being, it is the pur-
pose OF this article to limit the dis
cussion to the influence which the
operation of this bill is likely to
have on agriculture.
And right here it is proper TO
bear in mind that there are no
other articles Of merchandise so
peculiarly and powerfully infu
enced in their home and export
prices as are the staples Of agricul-
ture. To illustrate: a merchant.
say, has 10. 900 dozen poeketknive4
on hand, which cost him 81 az
dozen. Now, let him consign 10
dozen to Liverpool, and let thess
only bring IS cents a dozen.
Would this compel the merchant
to reduce to a loss OF IS cents on
each dozen OF the remaing 1920
dozen on hand7 Not at all; for
pocketkniVes are not sold at a
worlds price, but at local valua-
tions, But with the staples Of ag-
riculture it is different. What
ever decline there may be in the
worlds price in selling 10 bushels
Of wheat or 10 pounds OF cotton
will influence the farmers price tor
the 5000 bushels OF wheat or the
1890 pounds OF cotton he NAV still
have on hand. And so we see in
this marked difference between
agricultural staples and all other
merchandise, in so far as certain
factors affect their prices.
Among the principal factors
which operate to advance or de-
cline the prices OF agricultural
staples there is none more potent
than the price Of ocean freight. To
illustrate: A Liverpool buyer in
our market desires, say, to land
wheat in Liverpool at 81 bushel.
Should the ocean freight be cent
a bushel to Liverpool, the exporter
will deduct I cent from the Liver
pool price for freight. Should the
freight be S cents or 10 cents or 20
cents a bushel, the exporter will
deduct S cents or 10 cents or 40
cents a bushel. Now, let il be OBJ
served that the more the exporter
deduCts the less the farmer will re-
ceive, not alone tor the quantity
which the farmer then sells, but for
all the remainder which the farmer
may then have on hand, whether
It is 10 be exported or whether It is
to be sold Tor home use.
It follows, therefore, that no
other industry whatever can be so
powerfully Affected by the action
OF the proposed subsidy TO ship
ping than can the staples OF agri-
culture. A decline Of s cents per
hundred in the price OF ocean
freight means an advance to the
farmer Of S cents per hundred on
all oi his unsold products. An ad
vance Of 5 cents per hundred on