The midland journal. (Rising Sun, Md.) 1885-1947, 1890-10-31
AGRICULTURAL PRICES.

M. Teller, delivered in U. S. Senate
May 14th and 18th, 1890.
CORN.
The average production OF corn dur.
ing the years 1880, 1881, 1882, 1888,
and 1884 was 1876 44,286 bushels.
The average price was GIL cents
per bushel, and the average value was,
in round numbers, 1862 100000.
The average production during the
years 1885, 1886, 1887, 1888, and
1889 was 1881, ASP, 900 bushels.
The average price was sos cents.
The Senator will see, if he will take
the trouble to figure on this and some
Of the subsequent statements, that the
increased production of corn bears a
very close relation to the growth Of
population, and that the decrease in
price bears no relation to the increase
in product.
The average value of the corn crop
for the period have named, from 1885
to 1859, was in round numbers $780,.
100000. In 1889, when the crop was
very much larger, it will be seen that
there was falling off in the total value
With crop of 256, 100000 bushels
more than the average during the
preceding five years, it brought S32,-
100000 less.
This estimate is based on the average
price of corn for five years at ports Of
export. If we compare the value of
the great crop of 1889, 2 liz. 100000
bushels, with the crop of 1880, ill.,
$4,000 bushels. we find an excess
over 1880 of 1916, 458, 900 bushels
The crop of 1880 was worth 81 8 cents
per bushel, or total in round numbers
of 1882 100000, while the crop of
1889, computed on the price of Decem
Der, 1889, January and February, 1890,
was worth only s762,OO0,o00, or diff
ference in favor Of the smaller crop of
$170.OOO,OOO.
Mr.. Allison.-I think tho whole
question is MT stated clearly, if the
Senator will allow me to interrupt him
for moment, unless it be also stated
that the things which corn would pur-
chase have also decreased, perhaps not
in the full proportion, but certainly
very near the full proportion, aud that
the price of corn of which he speaks is
measured in gold, and not in commod
tiles.
Mr.. Teller. That is true. l wish
to say to the Senator from Iowa that
there are some things which have not
fallen. Taxes have not fallen. Inter.
est has not fallen.
Mr.. Cockrell. United States bonds.
Mr.. Teller. United States bonds
have not fallen.
Mr.. George. Salaries.
Mr.. Platt. Interest has fallen in
some places.
Mr.. Teller. Interest has fallen in
some places, but the men who made
contracts when corn was worth 81
cents bushel find themselves COMPEL,
ed to pay interest contracted for then
with corn at very much less.
Mr.. Cockrell. 1t is Is cents now.
Mr.. Teller. 1t is Is cents now, as
the Senator from Missouri suggests.
Mr.. Allison. Mr.. President
The Vice President Does the SEN
ator from Colorado yield to the Senator
from LOLA? Z
Mr.. Teller. Certainly.
Mr.. Allison. With The promptings
of the Senator from Missouri, etc., and
personal allusion made by the Senator
from Colorado because l interrupted
him with statement of fact which
think worthy of statement in this cop-
nection, it is not necessary tor the SEN
ator to address himself to me az to the
other points, because I may agree with
him on all of them.
Mr.. Teller. | hope my allusion to
the Senator was not offensive to him.
did not mean it to be so at least
have no doubt the Senator knew all
about it. have no doubt be has heard
the complaint of the people of his State,
and that he is just as anxious as l am
to remedy the evil.
MIR. Blair. hope the Senator from
Iowa will take all this in good part.
rose with the effort to draw from the
Senator from Colorado fact in the
direction of his argument, and am in
full sympathy with his argument, trying
to help him, but the Senator has been
so accustomed and under such necessity