The great West. [volume] (St. Paul, Minn.) 1889-18??, 1892-07-15

The crop of 1SSO-S1 was 3,O3S, 645 900
pounds, or sixty pounds per capita.
Price, 11.34 cents.
pounds, or fifty-four pounds per capita
Price, 1911 cents.
The crop of 1SS1-62 was 2, 455, 226, 900
pounds, forty-seven pounds per capita.
Price, 1915 cents.
The crop of 1Ss7-ss was 1921, S71, oil
pounds, or fifty-four pounds per capita.
Price, 1927 cents.
Average price for pound of cotton
for sixteen years, in gold, 11.67 cents,
being 5.33 cents less than in 1878.
Average price for a pound of cotton,
for sixteen years, in silver bullion (com-
modify or market value of silver), 1887
grains, being 1856 grains, or 2.77 cents
less than in 1878.
Average per cent. increase in pur-
chasing value of gold, 81. IS per cent.
Average per cent increase in purchas-
ing power of silver bullion at its COM
modify value, 49, 20 per cent.
These figures prove conclusively that
not over-production o. cotton but un-
Reproduction Of gold has caused the
steady rise in the value of the gold dol
lar, commonly termed 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 silver has been since
1878, yet the purchasing power or ex-
changeable value Of silver bullion, while
depreciating when considered in it's 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 IA cents per
bushel, such price being measured by
silver, not as money, but as commod-
ity or bullion
Now, free coinage would have in
crease the average value 1854 cents IN
gold, of 371.25 grains of silver, for the
past seventeen years to 100 cents in
gold, or 81, and would necessarily have
made the purchasing power of 371.25
grains of silver exactly equivalent to
that of 25.1O grains of gold. Are we
sure that free coinage would have put
a sufficient amount more money in cir
culation to counteract this result and
thus cheaper both the gold and silver
dollar? In this connection we must not
overlook the startling fact that gold
and silver combined Silver being esti-
mated at its coin or money value) fell
short from. 1878 to 1889 of amounting in
output or production, to the per capita
production in 1878, in the sum of 1858
cents per capita for each year upon an
average for the whole sixteen years.
That is to say, that if the prices Of 1878
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 prices
up to the standard of 1873.
Assuming the per cent increase in
population to be the same for sixteen
years, and taking 1881 as basis, gold
lacked an annual average of s7,515, 034
and total sum of $3.50, $40, 544 of the
output of 1878. Silver, on the other
hand shows an annual increase of ST.
1O3 and total increase for the sixteen
years of 81, 233, 65e.
1t must be borne in mind that the in
creased demand for gold and silver for
use in the arts, which accompanies an
increase in population, yet further de-
creases the amount available for money
coinage
GOLD STATISTICS