The Portland daily press., 1888-09-05
Misleading Figures.

The national wealth increased 1850 to 1860
from seven billions, in round numbers to sixteen
billions or one hundred and twenty-six per cent
During the decade 1870 to 1880, Under high tar
IN. the increase was fortysix per cent The CAPT
aa sa 10 manulactures $500 to 1850 in
per cent. 1870 to 1880. According to the same
oficial figures Census reports raw materials
eightysix per cent? but from 1870 to 1880 oniy
thirty-six per cent. The value of manufactured
products increased 1850 to 1850 eighty-hve per
twenty-seven per cent The export OF manufac-
featured products increased, 1850 to 1860, ne
manufactured goods Increased in the twenty sue
ceeding years, to 1880, only eighty per cent. or
less than half as much In twenty years under high
tarlif as In ten years under low tariff.-Argus.
Here is fine case of suppressio ceri. The
census tables do say that the total valuation
Of real and personal property in the United
States In 1850 was seven billions, and that
the total valuation of real and personal
property In the United States in 1860 was
sixteen billions. But these figures are sub
ject to some very important qualifications.
and 1t Is not fair to cite them as ex-
pressing the national wealth at those two
periods, without calling attention to these
qualifications. 1t is possible that the author
of the article in the Argus overlooked these
qualifications. If so, Of course the Argus
will be ready to state them when they are
called to its attention. On page of Vol.
VII. of the Tenth Census Mr.. Henry Gan
nett, under whose supervision this volume
was prepared, says
Comparisons OF the figures for 1860 with those
Of 1850 Will scarcely allow one to doubt that, if
those of 1860 were excessive: and that on the
other hand, II those Of il $50 were moderate and
lust, those Of 1850 were far too low. 1t is true
that between 1850 and $50 the worlds supply of
the precious metals had been enormously in
creased as the result of the Californian and Aus
tralian gold discoveries. with necessary effect Of
the most far reaching character upon the prices Of
commodities and the value of all species Of prop
erty; yet we can scarcely credit so great an in
crease In the true value of the property Of the
United States in single decade as that from
S7,l36, 78o,22S to SIC. l59,ol6,o6s, or 1875 per
improbable but there are msny ob IN s
siderations which indicate that the valuation of
1850 was much too small For instance, the
growth OF the agricultural and manufacturing
interests during the period does not indicate SO
great an increase OF wealth. Nor does the pro
nor the increase in banking and internal com
merce. All these point to the probability that
when the true. valuations of 1860 and 1850 as
given by the eighth and seventh censuses respec-
lively are incompatible with enc another It is the
latter which Is mainly at fault.
This paragraph shows that comparison
between the censuses of 1850 and 1860 is
practically worthless because the former
was very inaccurate and much too small,
and very effectually disposes of the Argus's
claim that the census proves that the in
crease in national wealth under the law
tariff Of 1916 was proportionally greater
than the increase under the protective tariff
from 1870 to 1880. 1t shows also that large
portion of what increase there was, was due
to the discovery of gold in California and
Australia