People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1892-05-06

IuC CiOJ VI 4OoO-OL was o;VociOfo.VOV
pounds, or sixty pounds per capita.
Price, 1l.34 cents.
The crop of 1SSS-S9 was 3,274,S12, $50
pounds, or fifty-frur pounds per capita.
Price, 1911 cents.
The crop of 1SSl-S2 was !. 455, 226. 900
pounds, forty-seven pounds per capita.
Price, l6 cents.
The crop of 1SS7-Ss was 3.29Ls11,Ol1
pounds, Or fifty-four pounds per capita
Price, 1927 cents.
Average price for a pound OF cotton
for sixteen years, in gold, 1l.67 cents,
being 5.33 cents less than in 1878.
Average price for a pound of cotton,
for sixteen years. in silver bullion icom-
modify or market value of silver, 1881
grains, being 1926 grains, or 2.77 cents
less than in 1873.
Average per cent. increase in pur-
chasing value of gold, Sl.35 per cent.
Average per cent. increase in purchas-
ing power OF silver bullion at its com
modify value, 1929 per cent.
These figures prove conclusively that
not over-production o. cotton but I'M
der-productiOn of gold has caused the
steady rise in the value of the gold dol
lar, commonly termed a fall in the price
Of commodities. But it may be very
pertinently asked if the value of the sill
yer dollar is not also steadily appreciat-
ing, and whether it is certain that the
free coinage of silver would afford us
anything like an adequate measure OF
relief.
1t must not be forgotten that debased
and demonetized as silverhas been since
1913, yet the purchasing power or ex-
changeable value of silver bullion, while
depreciating when considered in its re-
lation or ratio to gold, has nevertheless,
steadily increased when considered in
its relation to cotton, wheat and other
commodities. so much so as to cause an
average decline in the price of cotton,
for seventeen years, of 2.77 cents per
pound and in wheat of Il cents PEI
bushel, such price being measured by
silver, not as money, but as a commod
ity or bullion.
Now, free coinage would have in
crease the average value 1854 cents il
gold. of S71.25 grains of silver. for the
past seventeen years to 100 cents il
gold, or 81, and would necessarily have
made the purchasing power of S7l. >:
grains of silver exactly equivalent tC
that of $50 grains of gold. Are we
sure that free coinage would have put
a sufficient amount more money in cir
culation to counteract this result anC
thus cheaper both the gold and silver
dollar? In this connection we must moi
overlook the startling fact that colo
and silver combined Silver being est
mated at its coin or money value) fel
short from 1878 to 1889 of amounting il
output or production, to the per capita
production in 1873, in the sum of 12.5
cents per capita for each year upon al
average for the whole sixteen wears
That is to say, that if the prices of 1S7;
were just about right, and prices are
regulated by the volume of money in
circulation, gold and silver combined
lacked in output 1858 cents per annum
per capita of being able to keep price,
up to the standard of 1873.
Assuming the per cent. increase in
population to be the same for sixteer
years, and taking 1881 as a basis. gold
lacked an annual average of S7.5l5. OSl
and total sum of S12O,24O.544 of the
output of 1873. Silver, on the Other
hand shows an annual increase of ST..
lOS and total increase for the sixteen
years of 81, 2S3, 65S.
1t must be borne in mind that the in
creased demand for gold and silver fol-
use in the arts, which accompanies al
increase in population, yet further de
creases the amount available for none,
coinage.
com Awrc-4f~c