The Leavenworth weekly times., 1876-03-16

The decrease in clearings since 1928
the inter prior TO the panic, is remarka
bic, and very considerable proportion oi
it is undoubtedly due TO a fall of p.ices 4
bale Of low niddling cotton sold thret
years ago added $50 TO the aggregate tran
sactions; now the same sale adds only S56
A hundred barrels of superfne flour theI
added $3.50 TO the aggregate, and now adds
only $3.50. III the quantity of good:
changing hands had remained the
same the loss of about As pei
cent in c!earings would indicate
a reduction Of prices in that proper
tion, which, all articles considered, has
not been experienced. Thus, while there
has been material reduction in prices
amounting, perhaps, to SO per cent, OF
S5,000,00e,000 OF the transactions Of
twenty weeks, there has also been
diminution Of the quantities
'old, resulting from loss OF in
coIaes, reduction OF wages, shrinkage OF
consumption, and decline OF speculative
trans; ctions. Bat this decrease OF quanti-
sies transferred, great as it is in some
branches, probably does not exceed twelve
per cent, or One-eighth OF the transaction.
# 1929. People continue TO eat, drink,
and be clothed, very much as before the
.reater portion goes on as well IN bad
lines as in good and the entire change In
yolune OF business caused both by enforced
Dr voluntary economy, and by decline Of
pecUl alton, probably does not exceed one
sighth, for the Il rinkage in prices since
1872, ali clas = u business considered with
due reference 20 he relative volume Of
each, has doubtless been about one-third.
Since the panic the volume Of business,
as measured by exchanges, seems 10 have
changed comparatively little. Twelve
weeks Immediately following the opening
III the Clearing House after the panic in
iSl3 ieided exchanges of S5,lSJ,92l ,3OS,
Ind tic Corresponding twelve weeks, ending
'ast Saturday, yielded S5,0Si, ,03I,0lS. But
reanNLile Uy far the greater portion Of
Ie IA in prices has occurred, for prices
al by no means settled TO their present
vel n December, 1915, or January, 1874
[, the 'eiore, there has b&n since that sea-
n great reduction in prices, il follows
'at there has been nearly as great an IN
fsase IN quantities exchanged. That this
the TACT, records OF tonnage on the trans
IrtatiB IN lines also show conclusively.
nmeo lately alter the panic, transactions
ere much interrupted for time, and the
cTeGe was rather IN quantities exchang-
and consumed than in prices. Presently
ide began 20 revive, and, at the same
ne, to settle 10 lower prices, and that
adual ad djustIent OF all business 10 a
yer scale OF values has been going on ever
zee.
II remains TO consider the nature OF the
juction O. more than 10 per cent. since
81 year. Inspection OF quotations on the
e hard and OF returns transported on the
aer indicates that this change has been
ther IN prices realized that in quantities
changed. Receipts of grain at lake and
yer ports since August / to latest dates,
Guiding -four Is wheat, amount TO l05,-
1000 bushels, against less than 100000,
. during The same time last year. Re-
pts OF cotton since September | 10 latest
ges show an increase compared with re-
pts last year Of 100000 bales. Returns
rail movements and earnings generally
licste an Improvement in the quantity
Goods transferred. But if these signs are
wholly deceptive, ii aggregate business
n-sctions have increased since last year,
Isurei in quantities, it follows that there
been q general decline, amounting To
re tllan 10 per cent. in average prices.
r is IL necessary 10 compare quotations
sengtl 10 establish the fact, for men in
.riv all branches of business viii readily
,oede it.
a thi' point Of view, the changes which
cleaIinEs record is plainly a healthy
g. A reduction of prices without reduc-
in quantities produced AMI sold would
icate healthy progress toward more
d basis for business, but when reduction
price attends and apparently stimulates
ease in quantities exchanged, the indi-
.ons are decidedly encouraging. They
ify tie hope that industry is learning TO
luce with living profit at lower rates,
that, in spite OF embarrassments and
tsters still witnessed, the gedersl condi
Of the people is such as TO permit
dy increase OF consumption. In short,
mess and industry are climbing down
Il the artificial stills which soft money
monopoly tariffs have supplied-TRe
sic