The Montgomery advertiser., 1906-10-24
Wheat, Silver and Prosperity.

W ncuts ShNC anu
 New York Times.
 Wheat is falling and silver rising amid world wide prosperity. The com bination is worth noting Tor rehienl brance when perhaps the old arg sument that such conditions are impossible may be revived. It may be that wheat IS 100 low and that silver, Is too high. ana their relation may be corrected by reversal of the rise In silver anu tns What should be noted Is that both are responding to conditions in the world markets, and that prosperity IS not de- years of abundant crops that make the farmer comparatively indinerent to the moderate decline in price of wheat. And silver is rising normally; without rying wheat up with 1t. Any man who should propose today to re-enact the sherman silver purchase 'aw because wheat is lower than last year would De IL is too absurd for statement. and yet a Presidential campaign once turned upon it. Time brings its revenges, and this is as complete as 1t Is sweet. But if is not mere pride of opinion that jus tines dwelling upon the point. Al though the barometer is now set fair hard times will recur. and doubtless ouack remedies will come with them. MT. Bryans last word was that h. re- mained unconvinced, and the record of this week should be pinned in every sound-nuney man nat TOT coHfeHieHcf in case of necessity.
 There is no mystery about the rise in silver Mexico. India, the United States, and China Ire buying it, not un. der compulsion of law, but for use, anu the mines are not producing it in ade- quate supply. Since 1901 the world < outut of silver has declined and tn :. United States product has lncreased: be thought that the trihins alteration was more than offset by the demCneti- zation of silver in China. Mexico. m dia, tho Philippines, and the StraI,s chosen by silver to rise aEainst rFaS4,, soa apparently. Having fallen In eal ine worlds market In London from soc in 1870 to below 22d in 1902, It 's S, i,"W fluctuations are a demonstration ot nn . fitness as standard of value; H3id has flurtuatcd certainly also. put m iai loss degree under even peter, eXcuse for the product of gold has been stimn- uated out of all proportion to tho slightly varying production or sllVrr The increase in the production or Iolt since 19nO. for example is more th!n tha average annual production of gold in tho few years immediately prrc"d ing, and yet fractlon oI p'mHE |" the value Of a soverelen SN,lrS MHr,h nr dollars shall go t" I:onion or s"v- oroinn. come to New York--so small Is inc fuctuation in the value of gold
 Douhtloss experience With gold Will rise in price will stimulate nroductina
 nd n greater supply not imnrahahlv will will coincide with 2 falling demand. t-sn in the arts. which Is stlmnlat"l bv cheanness, will be checked by h"nrncss. hn a surplus of subsidiary coinaga AL readv Nexico Is reduction inc fnnnes.. of it's dollars to correct the rise in noId dollars worth of bullion in it's coins and there is about f15.OO0,oOo of silver in that market ready 10 exchange for gold at favorable opnortunitv. It is hardly necessary to do anything for metal which. unaided. rises hy half it's value in four years. and the folly of attemnting aEain to make usa loses half It's value in single genera ton is beyond necessity of demonstra- tinn-