Middletown transcript., 1893-09-23

one things produced in the United
States, which have suffered. in many
cases. quite as great q decline in value
as haye the great staples 10 Nhiclltlis
showing is confined,
AS 206, 900, 600 acres are now EN-
ployed in growing staple crops, it fol-
lows that the power Of the farmer To-
purchase is this year 81, ,563, 600, 600 less
than 1t would be if he was receiving
the prices of 1860 70 for his great
staples. Ii the prices now realized in
the farm markets equaled those re-
lceived from 1871 to 1876. the farmer
would this year be able to spend
81 ,450, ], 600 600 more for manufactures
and other commodities than he will be
able 10 spend with prices at The present
level. Were prices now equal to the
average of those obtained from 1876 to
1880, the purchasing power Of the
farmers would this year be augmented
by S76S, ,0O0, 900. Should the crops Of
1898 give average yields and the prices
equal those current from 1881 20 1885,
the farmers spending power would be
S645, ,00G, 900 greater than with present
prices. Even with prices as low as
those prevailing from 1886 to 1890, the
farmers of the United States would
have s35S, 900 900 added to their debt
paying and purchasing power in 1893;
and like advances ON the other products
of the farm would create an ample
fund for building and general improve
meni, thus employing more labor.
The least of these sums, added TO
the sums yearly distributed among the
producers of metals and textiles, would
afford employment for great numbers,
keep the mills in motion, make money
abundant, and bring good times.
Much stress is laid upon the neces-
sity of cheap food for the wage worker;
but what possible benefit can be de-
rived from a cheapness that deprives
The 10000. 900 who produce food and
6bre, the ability to keep the wage
worker employed by buying the pro-
dacts of artisan and operatiyeP
Doubling the present price Of wheat
would probably add the price of six or
eight days. labor to the cost of the
years. supply of bread for the average
family, but with wheat at an average
of 81 bushel at the farm markets,
and other farm products at proportion
ate prices, there would be no ida mills,
aud the Garner of wages would have
that easily procured and constant work
which would assure him the continuous
ability to buy bread. Would not thai
be far better than the existing coadi-
tions and bread unattainable though
low in price?
We recently published statement to
the effect that the 1900 young women
employed in the Warner corset factoy
at Bridgeport, Conn.,, had been re.
dnced to half time; that 600 of them
were unable to buy food, and were fed
BY the charity Of their employer. Such
conditions exist because the women
upon the farms are unable to renew.
their corsets with wheat selling !, est
Of The Mississippi at from 80 70 40c. nts
bushe1.
The relation between the price Of
wheat, the lack of power to buy corsets
and the idleness and inability of the
women of Bridgeport to buy bread, is
as obvious as that between the earth's
movements and day and night.
However people may have disagreed
about the late Zach Chambers states
manship, no one questioned bis sue
cess as a merchant, and this was due as
much to his power Of discerning eco
nomic conditions affecting bis custo-
mers as to the unerring judgment
with which he provided salable goods.
Soon afterthe close of the civil war,
being asked if he could find sale in the
farming districts for lot of rich dress
goods, which he was shipping to small
inland towns, his reply was character
isiia::
g Sell thenl Sell theml Why, the
women on the farms Of Michigan have
discarded homespun and calicoes for
silk and merino, and no farmers son
now thinks of going out to plough un-
less dressed in doeskin trouser sand
calfskin boots. Don't you know that
wheat is selling at So bushel?"
Such was the late Mr.. Chandler's
way of stating the operation of thai
economic law which enables people to
buy literally of the products of others.
Mills and furnaces are idle, and
operatives unable to buy bread, because
a large pars If the 10000. 1000 ;ihabit-
ing The faims have lost their purchas-
ing power;t the purchasing power has
been lost because the products of the
soil have. over wide acres, sold at or
below the cost Of production; farm
products bring inadequate prices be-
cause, primarily, of the existence dur
ing recent years of a cultivated acreage
in excess Of the worlds requirements;
and there are those who believe that
the depressing influence of this exces-
sive acreage upon prices has been in
tensihed and augmented by methods
employed upon the Produce Exchanges.
| When we reflect that had tie
ACC, 600, 900 bushels of wheat exported
since July 1. 1891, brought but fife, u
cents more a bushel. .he corn exported
ten cents more, and the cotton exported
only four mills more pound, fully
$100, 600, 600 less in gold would have
gone abroad. and many millions less in
American securities have been sent
| b.,oly ,ro ~, uud orStaod that tho ntY