Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1891-12-17
ness would only Be l2lper cent and that
the statistics show that the amount
actually q used Is IS per cent. Now

ness WONId only be III per cent and that
the statistics show that the amount
actually q used Is g per cent. Now
this demos hstratess ! gross q active use
beyond thas Of any nation ID the known
world. An the circulation medium is
in active use every day il the entire
year to handle the commodities produced
by other pursuits than agriculture. and
tvs represents condition in which
agriculture: when compelled to have
money to handle It's productions, must
call and demand that money from those
who are using it TO their own satisfaction
and have 70 more than they actually
need in their business and u tset %
50 poorly supplied thst they are actually
hampered w being compelled 70 do
eleyen-twslvths u their volume of buai-
mess with credit paper. Itdoes NOT s.
quire : lhilosop phst % ~ that under
such cirGa nxs king IN
demand must make oonesss II nov
the fact bsonsidered that the gross
volume Of commercial transactions fe-
sultant from the handling and re-hand-
ling Of thehproduets Of agriculture con:
stitute ss2, ,O0e,00O, 900 Of commercial
transactions u the country, and that
these products are dumped upon the
country demanding this money and
these exchanges in less than four months
in the year it IS plain, conclusive and
indisputable that the demaxd during
those four months is increased about
%, 600, ,OOO, 600 per month, making the
true relation of demand during that
short season SIG, 600, 600 per month, OF
sixteen TO- one, while in the 6thers eight
months itfwas eight to one This ac-
cording to- all known and accepted
theories, has AN irresistible tendency tc
diminish general prices in the same ratio
chat is to say, that todouble the volume
OF business without Increasing the vol
ume OF money has a tendency to reduce
prices one-half This has not beer
generally recognized because the genera
leyea of prices Of all commodities has no
fiNcuated ao that extent in that season
The REASON for this is two-fold: First
the season. Of demand is so short tha
the general level Of prices has not hat
time to adjust &tse]f to the contractaol
before sthe season of expansion again set
lin. Second, the depression of price
consequent upos the contrartioa h.:
naturally and ,Gnavoidably been mos
potent, son the disturbing element whicl
causesGae contraction and that disturb
ling eldanent, owing to the peculiar law
of the country has BEEN the products o
agriculture, Secause they have beer
compdaed to demand money already il,
active use lin other occupstions, and, u
before stated, being the beggars TO
this 'saoney aready in use, they hav
beenesmpelled to make the greater con
cessious in prices. This is IL plain
Straightforward statement of busines
facts,sn, business principles that must b,
plain and conclusive to all and requir,
no argument because it is sasedssn self
evideu, truths which each must, in hi
own heart, @tbnit But what.6o thes,
facts seach! They teach that tn,
regular rannuakoontraction of the wolum.
of money prodxces fiuctustion IN the
prices of the products of agriculture
equal teabout SO per cent of their value
and this conclusion is borne outsby the
facts because statistics show that
fiuctuatien in prices for fifty years, of
the leading products of agriculture has
been in the neighhorhood of so per cent
But the most serious fact in connection
with this phenomena is that the mini
mum prices are unavoidably made to
prevail during the season in which agri-
culturalistssare compelled to sell the pro-
ducts of their years labor; and that the
investments Of agricultnrists in the pro-
dnctiye effort must be made during the