Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1845-04-07

est Price since in 1896, when il tic l6 while
under greatly reduced duty fell in 1910 cents,
when. according 10 this notable theory. ought 10 have
risen least 20,
But there is another pInt VI view in which de
sire 10 present Thu SUBJECT whic, exposes still more
clearly The aLsurdHy al tbs fin 10 impose upon the
public understanding. II il be that The prices Of
our tlr great p.s affected BY tariff, The
one falling as ne-erssfy consequences when the other
rises. ard rising Wien il falls, ii mows, neya-
BILE result ih.t whenever cotton is high low,
tobacco and -four be osoindeed, that the price of any
Of them unerrig barometer, by which The value
of the others may be ascerai.:sd Is this the acl We
arpeal sgan to the tables relied uion by this illogical
ranp'e'eer to sustain his notable theory IN 1921,
when Tour at the lo;rcst f:ice il has
ever reached from 1921 to 1914 cotion was at
sixteen cents. tile highest price that artil lie Las ever
reached. with the exception Of single year. and tobacco
was SD per hid The highest average it has oyer
reached IN the period embraced by his statement with
the exception ol four years. Again: 10 1887. when -four
averaged 50 80 per bb the highest point il has attained
from 1871 To 1914 tobacco $5S the io,resi point
WIN the exception OF live years to which il fell in the
same PERIOD and cotton was at IA cents, nearly its high
esl value! And so We might multiply instances Of va
riaon, 10 conine the assumption of "a Member Of the
2Sth Congress" Whenever there is a snort crop ore
her OF our staples the price advances be the rates OF du
~ on f1-eisn fabrics what they may-and it recedes
whenever there is redundant crop, beyond the actual
cons mpton of the world. Hence the truth of the doc
trno advanced by the Wings, that whenever the do
nestle manufacturer is brought into competition with the
foreigner, by protective duties The pricess fall in despite
Of the duly. because Of the augmented production while
the consumption remains stationary is the simple
but omnipotent law of demand and supply which reeu
laes price, than which the laws Of nature are not more
certain and infallibe in their operation.
We have devoted more space to the examination and
reutaiion Of the essay of"a Member Of the 2Sh CON
erss, than it deserved, shallow is It's reas,ning-
but having understood that il has been widely circulated
throughout this region Of the State have deemed il
proper ogve The key by which its lallacy at once ex
posed
In truth, who does not remember, that, before this
new discorcryn political economy as made it was the
custom OF our opponents 10 ascrbe The fluctuations in
prices 10 the Influence Of the Barking system and more
especially 10 the course pursued by the National Bank
to the periodical expansions aud conracluns Of hch
making money abundan, to day and scarce to morrow
these changes in price were a,crlbedl The Bank, how
ever, being out of,he way. the Tariff is to be mad,
sort of scape 60 and denounced the true source Of
all our pecuniary embarrassmenls And yet hut for that
system. we firmly persuaded that We should at this
day he crushed under load OF debt, individual and ma
tiuna, which would be iutOlerebp Ia be- hurna