Newspaper Page Text
VOL.VI, NO. 49.
$1.00 A YEAR. TOPEKA, KANSAS, DECEMBEE 5, 1894. OFFICIAL STATE PAPER. THE GREAT WEST. IEBIGATION, IEEE SILVEE COIN AGE AID CHEAP TEA5S POBTATIOH Aia Some of the Wants of the Transmir sissippi Commercial Congress, Lately Assembled in St. Louis, The Transmlasiaaippi Commercial con gress held its annual session in St. Louis beginning November 26 and con tinuing four days. Tee main object of tha association ia to discuss and pro mote legislation in tha intereat of the Western peop.e. Among tha important subjects discussed at thia sebslon were tha currency question, irrigation, Pacific railroad foreclosure, and bounty to farmers on exported agricultural pro ducts. Tha bounty proposition was in tha form of a minority report from the com. mitiee on resolutions, tha majority hav ing voted to refuse to placa such a recommendation in the report to be made by it. Dolt gate LuDin of Cali fornia, in a brief address, utged that tha farmers, not from a protection or a free trade e tat d point, were entitled to gov ernment aid aa a matter of justice eo long as manufacturers were aided. This aid by virtue of agricultural products . being of an export, not an import char acter, the only mothod of aid waa by bounty on exports. Delegate Prank J. Cannon of Uiab, for the mi jjrity of the resolution committee, opened the oppo aition, deolaring his belief that such a proposition cculd only aggravate the ills of the farmers anc) only increase the re sponsibilities of the government; that it waa impracticable in that no such bounty oould be made equally just to all farmers, not questioning the assertion that the bounty would ultimately reach the farmer. He opposed it also because it waa clasa legislation. Wilson, of South Dakota also opposed the proposition from a similar standpoint as did also Delegate W. J. Bryan of Nebraska who further argued that the suijict was not one of general discussion in the Trans mifisissippi section, or in any consider able degree anywhere, and therefore waa not sufficiently digested by the people to warrant action by the congress upon it. Several features cf tha irrigation ques tion were discussed. One paper wai on The Water Sapply of the Rocky Moun tain Rsgion," by F. IL Neuell, of the United States geological survey. Tha paper was a general review of the sub ject presenting more especially the fact that area of lightest rainfall is coinci deal with the iandj a till held in govern mat owntrehip. Hon, Elwood Mtsd, state engineer of Wyoming, next read a paper upon ''Reclamation of Arid Lands," discussing more especially the lack of concert of action between the authorities in tha control of the water and those in control of the land. "Irri gation a Living National Issue," was the subject of a paper by EJitor W. E. Smyths of the Irrigation Age. The tenor of his remarka was that no issue, bo it irrigation or otherwise which at fects ever so email a portion of the coun try can, if it tends to the good of that portion, be a local issue. Toa currency question overshadowed all others and it was apparent from the beginning of the session that a large maj jrity of the 4G0 delegates were strong advocates of free coinage: Ex Gov ernor Anthony disgraoed Kansas with his usual opposition to "fiat money," and the minority report of the resolu tion committee showed that the man who wanted "parity" and the "co-operation of other nations" and who "depre cated a debased currency" was still alive. The currency resolutions adopted were aa follows: ResolTed First. That in direot opposi tion to the plan known as the Baltimore plan, the sense of this convention is tint all issues of paper money should be by the gen eral government. Risolved Second. That it is the sense of this convention that the pending propo sition for the reformation of our paper cur rency is one that, ia our jadgment. would create additional and pe-hapa insurmount able diffloultie to the return of bimetal lism, and that we are opposed to the same, Rsaolved Third. That ia any currency reform aoted upon we demand thit a con stituent part thereof shall be the remoneti zition of silver, or that it shall be of such a character as to be no impediment to our return to bimetallism, as it existed prior to 1373. Wbibias, An appreciating money stand ard impairs all oontraots, bankrupts enter pr.se, makes idle money profitable by in creasing its purchasing power and suspends productive foroes of our people; and Whibsas, The spoliation con sequent upon the outlawry of silver in the interest of the creditor class, by constantly increasing the value of gold, is undermining all indus trial sooiety, therefore, we demand the im mediate restoration of the free and un limited ooinage of gold and silver at the present ratio of 16 to 1, without waiting for the aid or oonsent of any other nation on earth. Cher resolutions are profuse in their demands and declarations. They favor the construction of the Nicaragua ca nal, the appointment of a commission to investigate the wants and needs of Alaska, an appropriation for the Henne pin canal, appropriations for deep water on the Texas and California coasts. They also favor the cession of the non-minsral arid lands to the states and 1 CmlinmtS on van 9, AGRICULTURE 13 WHAT THE SEOSETARY OF AQ BIOULTURE THINKS ABOUr LEAST, But Ha Snows What Kind of Oarrency Suits Him and the Wall Street Farmers Best. WAsniNQTOif, N)v. 33 In his annual report, just issued, Secretary of Agricul tural Morton makes soma remarkable, not to say foolish, suggestions. Competition of Rusaia, Argentine, Aus tralia and other countries favored by conditions whioh enable them to grow wheat at a low cost, the aaaretary de clares, warns American farmers to no longer depend upon;wheat as a staple export crop. On the other hand, a good market, at fair prices, ia to be found in the United Kingdom for barley and ojrn owing to the great variety of uses to which it may be applied, promises to be ia constant and increasing demand. Tne secretary reports the inception of two important eqjentifla investigations, the first relating to grasses and forage plants, the other to agricultural soils and crop production. The seoretary believes the importance of these investigations justifies the creation of each into one in dependent division, and he has so pro vided in the appropriations for the en suing flasal year. Toe good work of the weather bureau is commented upon. Of the bureau of animal industry he argues that owners of inspected meats should pay for such inspection, as they ecjiy the benefits of it. He declares that for more than two years there has been no pleuro pneu monia or other contagious cattle diseases in this country and holds that Great Britain should modify ita cattle laws ac cordingly. The Russian thistle is made the text for a suggestion that eaeds of new grasses and other planta from abroad must be hereafter very carefully in spected. Tne report concludes with a statement showing that of the total exports of this oountry for 1891 (6 seal year) farm pro ducts aggregated 628 million dollars, or 72 58 per cent of the whole. The mar kets of the world, he says, demand from the Amarican farmer the very beat qual ity of breads tuff j and materials. Tne farmer exohanges his product, the re sults of his labors, whioh have speciflo purchasing power, for. money having a general purchasing power. Under the heading, "For prima pork give us prime currency," the secretary asks: I "Would tha GOO million dollars' worth of farm products from the United States sold laat year to foreign nations haval been as remunerative to the Amaricasr y farmer if they had been paid for in all- - ver, as they haye been when paid for in gold or its equivalent? When the stand ard coin of tha repoblio shall be made of metal worth as much after It is melted as it purports to be worth in coin, and the mint values and the commodity val ues of all metallic money approximately equal to it, will not the American farmer and all other citizens bsoome more per manently prosperous? It the American farmer, laborer and manufacturer are compelled by law to submit to the meas urement of the value of the produota of . their efforts by a silver standard, will not the foreigner in buying those pro duots alwaya uaa the same measure? With his baef, pork and cereaVjetthe American f&rme: bays money, and why should he not demand as superlative quality in that which he buys as tha domestic and foreign purchasers insist upon in that which he Bella! If those buyers demand "prime" beet and "prime" pork, why should not the farmer demand "prime" currency, the beet mea sure of value, the most fair and faoile medium of exchange, in the moot un fluctuating money whioh the world of commerce has ever levanted? Gloating Over Uncle Sam's Misfortune New York, November 29 Lite yes terday the bankers who united to pur chase the whole 50 million issue of tha new government bonds, sold 3 millions of them at 11014. They had previously sold 5 millions at 119 and have but 2 milliona more to offer at 119 What price they will ask for the rest of them has not been amounctd It they suc ked in selling the whole issue at 119 to 119 they will make over 1 million dol lars dear prjli on the transaction. It seems that the great number of bids sent to the secretary of the treasury for bonds were not due to any patriotlo impulse, after all, but that there was a real anxiety on the part of a good maay individuals and corporations to get the bonds in exchaaga forged. Thia after competition for these bonds makes very ridiculous the pretentions of many Wall street people that there was danger of the bond issue being a failure. It is very doubtful whether there waa ever the slightest re won for even the sug gestion of failure. In view of the sudden advance in the bonds it becomes worth while to in quire whether or not there was some se cret manipulation of the market in order to alarm the treasury department. When it was announced that a bond issue would be made, the price of the 5'a isiued last February dropped 2 per Cant Cromll9K to U7. After tha eyndi-