The Russellville Democrat., 1890-02-27
market for the years named. as given by the
 bureau Of statistics;

| Mir Sauerbeck, whose tables are accepted b. l the statistical society Of London as authority | taking DO as his index number to indicate thu general range of prices from ise5 to 1887, find'
 that in 1878 the index rose to Ill., and in 1878 fei to Ss. Then it rose to sS Then fell again to q | in 1884, and e7 in 1888
 ! In his diagram of prices based upon William M. Grosvenor's tables Of prices for 20 leading | commodities, taking 1888 at 100 Mr. Starl shows like results, only prices on this side. as l might be expected from the small volume O money ard the hoarding of gold for resumption | went somewhat lower in 1878 than indicated by
 Mir. Sauerbeck's tables for England, showing [
 fall from 1873 to 1878 of 9 per cent. rise o B per cent. in the purchasing power Of gold. Ir 1885 prices had fallen per cent. below the leve of 1878, or 20 per cent. below the level of 1880 and at present are more than B per cent be
 low the level of 1880, which means that gold has
 increased in purchase power 50 per cent. since | iS0
 1 The percentage of gold prices of staple UT
 ticles as given by the Bureau Of Statistics, talk | ing lS60 at 100, are:
 For 1851 S For lhB3 l2s For l6I6.. -..--.-. s l And for 1889 the range is at least 10 per cent. | lower than for is7S
 l Tables published by the London Economis, l show that sl, TOO in gold would buy as much oi
 seventeen leading articles stated in 1850 g, i5, would in iS75 but that the same quantity could
 be bought in 1885 with sl ,57i and even less would be required now.
 1 Tables given by the royal commission for 1SSs | show substantially the same results. 1 According to MT. Sauerbecix prices for 1888 | are lower than for 100 years and English wheat | as MT. Fre~en points out is 4s per cent. below | the avesage and lower than since ls61. | Mir. Frewen significantly asks if the world with it's thousands of millions of debt is going | Ina nf But the effect of silver characterization on the | price of wheat and cotton is of special impor- tance from the relation of these products to the | price of the same products in India. The hints of India being open to the free coinage of silver, silver bullion is, of course, there sub stsntially at par with silver coin. The money unit in India the silver rupee, is equal to about g shiDings Engli sh money or little less than 50 cents our money.
 Discarding fractions in converting rupees into sovereigns and counting the shiilings at 2s cents we haze the following equivalents in prices in Ipdia and the Upited States, silver
 bullion being at par with coin, at tho India ratio of 15 to-
 Rupee--2 g. s-s0.50. 10 Rupees~-ff - 500. Assuming wheat to bs worth in India 3 shil- lngs bushcl, and freight to Liverpool to be
 shilling VIC have:
 Wheat s.-l.i Rupec~-s0a Freight s.-A 25. Cost of India wheat in Liverpool, { s. - . Rupees = sI
 pound sterling therefore, with silver at par with coin as above, would lay down in Liver pool only five bushels of India wheat. But with silver bullion at it's present price, pound sterling will exchange for bullion enough to
 make, say l3 rupees Consequently the Liver pool buyer can get six and one-half bushels of India wheat for his sovereign by first exchang- ing 1t for silver bullion and taking that to the hints Of India, and unless he can get as many bushels for the same amount of gold in the United States he will buy in India. Hence to the extent of India's ability to supply wheat
 and cotton, every fall in silver is attended with a fall in wheat and cotton. On the other hand
 with silver bullion at par with gold at ratio, wheat will rise to the former India rate of five bushels to the pound sterling or in other words
 be dollar wheat" here.
 The loss to the wheat and cotton growers from this cause since 1873 must be counted by hundreds of millions and the loss to the coun- try on the wheat and cotton exported by tens of millions annually. [On this head see valua. ble statistics by Ivan c. Niches.l As on no class has the loss from silver characterization fallen more heavily than on the cotton planter and the wheat grower, so no class would be more directly or more immediately benefited than this class and these industries.
 The exports of wheat and wheat flour from the United States fell in value from f023 900 900 for the five years from 1878 to 1883 to s5o4 0O0,- 0o0 for the i've years from 1883 to 1888 showing a shrinkage in five years of sss9. .0oo.0oo.
 It is common to say that only silver pro ducers agitate the restoration of silver metal to it's immemorial place They need it less than any other class of producers. If the farmers and planters will make estimates Of what they have lost during the past seventeen years through the characterization of silver for the fall in price can be rightfuily sscribed to nothing else--they will see how much more they have lost than the silver producers. and how much more they will gain by its restoration than the silver producers.
 But their loss has not stopped. The India Government, backed by Great Britain, has stretched 5000 miles of military railroads through the wheat and cotton lands Of India and 300D,000 acres have been brought under the blow.
 England strikes with n double edged sword at both India and the United States By her gold standard and India's silver standard, she
 is able to reverse natural law-to obtain products from India cheaper than from the United States--and thus force American work CTS, who feed, clothe and educate their chil dren, into unequal competition with the wretch es of the Orient. Said Sir R. N. Fowler, in an argument at meeting of tho British and colo nial board of trade, opposing aresolution favor ing bimetallic policy by England;
 If we continue this policy Q few years longer we can ruin tho wheat and cotton indus try of the United States and build up India as the chief exporter of those staples"
 The burden of the testimony before the royal English commission, that sat for months on the question of the effect of the recent changes in the precious metals was that the continued characterization of silver woxld be ruin to the agriculturists of the United States.
 The condition of the great agricultural in terests of our country was characterized by the president of the National Farmers congress two years ago in his address before that body aSmost deplorable, and it is even worse today for prices of the great staple products Of Amer ican farms have declined to a point which leaves no increment Of profit to the producers Of the food and of the raw material for the clothing of all the people,
 No wonder notices like tho following fll the public journals;
 HARD TIMES FOR KENTUCKY FARMERS
 NIcHoLAsvILLE ky, Jan. %, isoo.-lSpe- oial l-The farms and houses of $50 persons were sold by the sheriff to day for taxes Most Of them were bought in by the sheriff for the State.
 Or as a Western writer says;
 Prices go lower and lower year by year, and the cry of complaint from the great circle Of producers is fast becoming vail of despair"
 Mortgages on the farms over all the old North ern States have doubled. Thousands of those farms have gone to sale through foreclosures of mortgages. Hundreds of others have been abandoned because there was left no profit in working them. This, too, has been going on while the population has been increasing fifty per cent
 This great interest at tho base of all our National prosperity, has in all ages engaged the solicitude of wise statesmen, and no coun- try can long prosper winch through neglect or unwise legislation it is permitted to decay.
 VOLUME or MONEY.
 The following table is given to show the change in the relations of money volume to population using it for the years giveni
 Volume Of Money. Population In lS60 ............. SiS7, ,00O000 5l,0000o0 In 1885 ......... ...... as5 50co,001 33,00oOoo In 1873 3.............. e62 0O0OO0 40OO0OO0 In 1878 ......... ....... s0O00O0O 4sOOOOOO
 Special attention is directed by the Secretary of the Treasury to the volume Of money in 1878 and in 1889. The volume for 1889 Is placed at Si. 4o6 0ls0oo or an increase since 1878 of S5se 224. IeS. which it is claimed is an increase in excess of increase Of population. and on the basis Of money volume there should have been rise and not fan Of prices But in the first place no allowance is made for loss of greenbaeks or National bank notes, which can hardly be less, for both kinds of currency, than 8 per cent Of the whole, or s2b,0o00o0 and mag be much