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Updated: October 11, 2026
The wheat is sold for $4,000; the cotton brings the same amount. The Minnesota farmer invests the $4,000 he has received for his wheat in clothing, crockery, iron, steel, dress goods, clothing, whatever he may need for his family in Minnesota. The Georgia cotton-raiser invests the proceeds of his cotton in like kind of goods.
Let those producers ship their staples abroad. The Minnesota wheat-grower ships his wheat to Liverpool; whether he ships it there or not, that is where the price of his wheat is fixed. The Georgia cotton-raiser ships his cotton to Liverpool; whether he ships it there or not, that is where the price of his cotton is fixed. The wheat and the cotton are sold in that free trade market.