, 1873-06-02

ported articles. Tho value imported In 1870 waa
s462, ,877, ,587 Of thle tho farnors and those do
pendent on thom should hayo consumed "a per
cont, or s240, 430, ,o45 in gold-a 1argcr amount
In currency than tho ontre surplus Of farm pro-
ducts aftorpnying for products Of domostlomanu-
facturo. Consequently, tho farmers as whole
must bo running into dobt-unloRB, by reason
Of thclr heavy burdens, they aro forced to con-
sumo losa than their share Of domestic products
and foreign imports.
Tho nominal valuo Of manufactured products
consumed has advanced, aiuco 1860, over 124 por
cont. while tho number bf conhlmera has In
oroascl only ~ per cont. Do we consume 80
much moro in quantity, or only in COST Tho
number Of hnnda employed In manufacturers has
advanced from 1911 ,240 to 2,076,G07, Or 6a e~1o
por cont, yot tho nominal value Of tloir products
huB advanced more than twice as much. Docs
not ovory ono know that tho avorago efficiency
Of laborors In all manufactures has not doubled
within ton yoars? Undor natural conditions,
inorcaao in tho oiIicionoy Of labor In any employ
ment should oauao reduction In tho cost Of Its
products. Tho consumer ought to share In tho
bono1ts Of that improyement 80 TINT tho ag-
grogato cost Of ali articles produced should in
oroaso in loss proportion than tho number
articles produced has increased aB rapidly
as tho number Of hands, 50 BIO por
cont, tho real valuo Of manufactured products In
1870 Was 82,sos, ,7o7,041 in gold, wheroas 1t waa
&4232, GU, 892 in currency, difference Of 40 a.
100 pcr cont In nominal prices, supposing that
tho eflloicnoy Of labor has not Increased, With
q modcrato allowance for increased efficiency
and consequent reduction of cost, the difference
betweon actual cost and nominal prices Of manu-
facturod articles will appcar greater than 80 por
cont OF courBo fn somo branches Of industry,
tho advance in prices Of products has boon much
groater, aud in othors much less, than 40A per
cent, but the average must have boon at least
that much, ovon II no improvements and inven-
Nons have 1oHsenod tho cost of products.
But, Of this differonce, 2s4 pcr cent was
exactly tho average premium on gold for tho year
ending Juno 80 1870. Tho romaining increase,
23 per cont muat bo tho result Of artificial prices
maintained by monopoly duties. II appears,
then, that consumers In this country hayo
not only boon deprived Of al1 reduction In tho
cost Of products by means of inventiona and im-
provements giving greater onlcloncy to labor,
but, III addition to TINT loss, havo boon compelled
to pay 20 por cont mora for oil manufactured IT.
ticlos consumed.
Accordingly, II tho farmers and those depend
ont on them consume manufactured products
nominally worth %, 1877, ,o40 900, those samo pro-
ducts, had tho pricoa Of 1900 continued, md Ind
labor made no progress in efficiency, would havo
cost only s1,405, $780, ,ooo md, Of tho nominal
value, about s345, lit, 600 was due to doprocia-
tion Of 2s1( per cont IN ourroncy aud e344, ,4ss,-
600 was paid as tax to tic manufacturers.
Tho Tux thus paid by tie farmors, not ono
dollar Of which goes into the Treasury, avor-
agos s62.34 for every malo employed in farming.
At 40 per cent upon dutinble imports consumed,
the thrift takes from each person employed as q
farmer only 918.81 for, tho Treasury Of the Uni
ted States, and moro than three timos as much
for tho monopolios. Tho farnors fool that they
are injured by unjust charges upon the rnilroada,
and yot tho ontlro receipts for freight Of all
railroads in tho country wero, In 1870. less than
$500, ,0oo, 900. In fact, Ill tho railroads in tho
United States could bo bought outright, track,
rolling-stook, and all, with tho money which tho
farmers hayo been forced to pay, within ton
years. through tho Increased cost Of manufac-
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