Show WHEAT AND SILVER chairman jones on the rise cause for the rise Is of in india argentine russia and australia chicago oct 21 senator jone chairman of abe democratic national was interviewed today by a reporter for the united associated presses regarding the ot chairman babcock of the publican Ile congressional committee in which sir babcock insists that the recent rise in the price of the 0 wheat while the price of the ounce of has declined indicates that the cladma of the silver i en that the anco of wheat de spends on the price of the ounce of dilver are unfounded the senator said the advance in the price of abe bushel of wheat proves rather than disproves the theories of the silver men our con has been that the wheat of india competed with oar american wheat in the liverpool markets that the levei pool merchant could in normal times buy in india nt any time during the past twentythree twenty three years a bushel of wheat tor about an ounce of dilver when the ounce of silver was worth in cold in 1873 this meant that the bushel of wheat was worth about that in gold but although the india wheat farmer has always been willing to tako an ounce ot dilver for bushel of wheat the ounce of silver has fallen in value owing to its and disuse and consequently as the gold value of the ounce of silver declined the sold value ot the bushel of wheat declined and the american farmer has been compelled to receive the gold equivalent of the ounce of silver tor his bushel of wheat this meant a gradual decline in abe price from about or a bushel in 1873 to 60 or 63 cents in 1893 the real canso therefore for the de aline in the gold value of our wheat wae largely in abe competition of india this competition has largely been done away with by reason of abe failure of the failure of abe wheat crop jn india and hence abo price of american wheat deprived orthis competition hafl steady advanced should however abe normal crops be restored ree in india the old effect in the fall in silver will be felt in wheat and the price of the american wheat in gold will again bo measured by the gold price of abe ounce of silver if the present financial system is maintained were india in a position to export wheat she would import silver in exchange and her demand for would the silver market As it is she imports her favorable balance of tride thereby reducing cpr demand for dilver and the price of dilver falls bev II 11 W thomas of this chiy tho independent minister who created a stir in religious circles of abe country years ago by aia trial for heresy today declares his advocacy of the free silver cause in a interview he says he has been a lifelong life long republican but owes it to humanity and to hie conscience to vote this time for free ilver and bryan |