The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-08-17

ue amount Oh currency OF all KINGS CIT
cu!ating in the United States IN 1870 was
over nine hundred millions and in 1850 it
was over twelve hundred millions, an in
crease of 30 per cent. while the population
had increased just 80 per cent.
In other words, while the Tribune says
money had diminished one half during the
period, is had really increased thirty per
cent, as shown by official figures compiled
in the Statements year book for 1890. The
exact figures are:
1870 1880
1914 423,ol9 l,243, O75, 1872.
This includes the amount of gold and
silver coin and bullion gold, silver, and
currency certificates: United States notes
and state bonk notes in the United States
in the treasury, in national banks, and in
circulation through other banks.
Here is another desperate venture of the
defeated ordan.
The falling OF in the last 6ecade[lS70 to 1881
was b:case the population had doubled and be-
cause there was such contraction of the cur
rency that property as compared with the mea-
sured of value at which property was estimat ed
had fallen infinitely in value.
The United States census shows, how
ever, that the increase of population from
1870 to 1880 was not double" or 100 per
cent, as the Tribune claims. but only 30 per
cent. while in the freq trade era from 1850
TO SO the increase was 95 per. cent.
From the tables prepared by the Com
mercfot and Financial Chronicle, the price of
gold has steadily fallen from an average of
1l6 in 1871 to an average of 102 at the be
ginning of 1879. This leaves one year in
which the Tribune has to prove that gold
advanced so per cent, or it's amended
statement of 81 per cent. So much for the
''iutinite" advance in gold as compared
with property"
And finally the poor fellow tries to show
that the free trade period was not pros
porous after all. He says
The free trade brought OF the close it's legiti-
mate re Its; the warehouses of our country
were stuffed with foreign goods; our skilled
workmen were eating the soup of charity.
The panic of 1857 was caused primarily
by the failure of the Ohio Life Insurance
and Trust Company, an institution whose
credit was without limit, and which was
| one of the Oldest as we'll as one of the SAT-
est, as was supposed, in the country Its
| unexpected failure in year of almost
| universal panic abroad caused a general
| shock and CONSERVATION, and for a time
| tlere was confusion and embarrassment.
But it has never been shown in what way
the low tariff caused this failure.
| The panic of 1857 ragged as severely in
Great Britain, Germany, Scandinavia,
South America, Australia and the East In
dies as it did here. Does the Tribune
mean that our free trade wrecked these
countries also!
In this country business quickly revived,
and Gen. GARFIELD pronounced 1860 one of
| the most prosperous years of our history
and Senator MORRILL, said it twas a wear
of as large production and as much general
prosperity as any perhaps in our history"
| The Tribune does not dispute the pros
perity Of the free trade period as a whole.
but cavils about single interruption by a
year Of money panics, which extended over
half the globe
So much for III, argument as =. stands.
THE HERALD has advocated no theory, but
has simply placed verified official state.
ments and statistics side by side with the
Tribune's rawlings and theories That the
result has been disastrous to the Tribune's
heresies is no fault of ours; and the quarrel
OF the irritable curiosity who runs the
tariff department of our unesteemed con
temporary is more properly with the CEN
sus officials than with US. The sheet has
been given a full opportunity in which to
| al r ruh1r
twice faster under free trade than under
protection, and has failed miserably. The
CHASTITY smile it now forces and the funny
stories it tells Zine logic for tariff debate)
will fail to cover it's defeat
The Tribune has not introduced a scin.
tilla OF evidence to prove that prices
doubled between 1850 and 1860 or to prove
that prices fell one half between 1870 and
1880. 1t has simply said that was the case.
1t could just as well have said 20, so or &c
per cent, in either period, and would have
done so had it been necessary in order to
make out is case.
1t has, to use the words of the Chicago
Herald, once more been forced to sconvict
and pillory itself as frothy liar" Not in
all the literature Of finance has there vet
been found anyone so INSCRIPTIONS as tc
say point blank, in the face of all authority
that prices rose so per cent. in the ten years
spoken of, and fell 50 per cent. in the other
ten years. Not between the covers of any
standard work, not in the defense of pro
lection by MIR. BLAINE even, in his grea,
perversion of history for partisan prur
poses, can there DE found anything so out
rageous as this statement of the Tribune
The editor know no lied when he wrote
, down that gold had fallen 50 per cent. ir
value between 1850 and 1860, and had riser
so per cent between 1870 and 1880. Wher
he is called to give his authority for such al
, unheard of and entirely original statement
he proves it by saying it again He has NJ
|, proof. Every direct assertion he has made
has been nailed as more or less false b,
census statements and other official figures
=r--....-.--.-=
TO CONSUMERS OF ANTHRACITE COAL.
Put in your anthracite coal immediatel,
while 1t can be had, for it is going to bt
scarce this owinter and you can save 81 2;
per ton by buying now.
! A. L. WILLIAMS,
End door north of post Office.