The times. [volume] (Richmond, Va.) 1890-1903, 1890-01-25
+ SATURDAY. JANUARY 25, 1890.
AcElCtITrRAL DEPRESSION AND
THE PROPOSED REMEDY.

AGRICULTURAL DEPRESSION AND
THE PROPOSED REMEDY.
In theintercsting debate in the United
States Senate on Wednesday, on the
question Of farm mortgages, number
Of significant facts in connection with
the general condition Of agriculture IN
tins country was mentioned in the
course Of the discussion.
Several of these facts are worthy OF
repetition as showing certain economic
tendencies that are very much to be de-
plored. For instance. although the
wheat crop Of 1880 exceeded that Of
1889 by only 100000 bushels, yet the
pecuniary return from the former
crop was sisO,OOO,OOO more than
the return from the latter In
the same way. S7s,0OO,O00 more
were obtained for the corn crop Of
1882 than for that Of 1880, although
there was a difference Of 800, 100000
bushels in favor Of the latter. The
consequence of this depreciation in
value may be easily imagined. The
farmer who, 10 1882, looked forward
with confidence to soon paying for the
farm which he had bought, by what it
produced in corn or wheat. would now
have to sell 13J to 40 bushels to realize
what, in that year, he secured from the
sale OF 100 bushels, = decline Of over SO
per cent. in seven years.
A similar degree Of depreciation will
be found TO have extended over the
whole range of farm products.
On the other hand, farm mortgage
of 81 600 ia 1850, has, in the intervening
decade, risen in value to 1880, while
the great majority Of the articles which
the agricultural classes are compelled
to buy have, in the same length Of time,
followed the same advancing scale.
These classes, in consequences, now find
themselves between the upper and
neither millstone. and unless SONS
marked change soon takes place the
farming interests must fall into total
rum.
What is there to produce this changer
A recent witness before the Ways and
Means Committee. Mr.. Brigham, Of
Ohio. Master Of the National Grange Of
the Patrons of Husbandry, advocates
the application to agricultural products
of the same principles of protection that
govern our manufacturing interests.
lie asked for the imposition Of the fol-
lowing duties on farm products
Barley, % cents a bushel; barley
malt, 50 cents bushel; beans, 90 cents
a bushel; peas, % cents a bushel; hops,
l2 cents a bushel; potatoes. % cents a
bushel; hay. 81 ton; hides, 10 per
cent. al valorem; eggs. cents dozen
apples, % cents bushel.
IL will be observed that he omitted all !
reference to the two great staples-corn
and wheat-upon which the farming
classes as a whole must permanently |
rely for livelihood. and without pro-
t,clion to which the agricultural de
p -ession must continue, even in The
Judgment Of those VINO believe that in
D election is to be found the cure for
the existing evil. The application
Of the protective system to agli-
culture. as suggested. would undout-
edly have the eject of advancing prices
ia all branches Of that pursuit, but 1t
would only serve TO ii 4 still more firmly
upon us the present tariff, which ia in
herently opposed to sound policy.
The proper course to follow, in order
10 place agricultural interests upon
footing Of equality with all other in
erests. is not to apply the protective
principle to farm products, but to
abolish the high protective principle in
with every branch Of trade
md industry which it now regulates.