People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-08-04
Why wheat is Low.

We are pleased to see the interest
manifested by our esteemed cOntem-
pOrary, the Caldwell Ne,Cs, in finding
out the causes of the present depres-
sion in agriculture and the consequent
StagnatiOn in business following so
closely on its heels. Inasmuch as our
neighbOr admits that there is some
thing radically wrong, we take it that
he honestly wants to find out just
where the cause lies, and that having
made the discovery will earnestly set
about removing the cause. The
VOICE takes great pleasure in endeav-
ing to enlighten an honest inquirer.
The chief stumbling block in the
way Of the Meas at this time is that
it cannot see why the low price of sill
yer affects the price Of wheat if it
does not also have a like effect on the
price of all other American products.
1t is 10th to take the explanation CIV
en- for it by the Wellington Monitor
and the Kansas City Journal which
we cited for its benefit and insists
that the VOICE, the fOuntain-head of
wisdom, shall explain the phenome-
non. Very well.
In the first place, the price of all
the leading staples have been very
materially affected. The decline has
been gradual and rarely interrupted
from year to year. Occasional periods
where, from either local or some side
consideration, the rule has been var
led, have occurred, but decline has
been the rule and variation the ex-
ceptiOn. This year we have excep-
tiOnS in corn, hogs and hay. The
NelCS says corn is worth Is cents at
Caldwell. If this be so, the very fact
shows that the cause is local, for corn
is worth in Chicago at this writing
only 80 cents. The scarcity in Sum-
ner county and the demand by local
feeders is plainly the cause. AS to
hogs, up to within year or so they
have been low-sO low that they be-
came improbable and many farmers
quit raising them. The result of this
was hog famine. Those who were
so fortunate as to have hogs were in
great luck. They were in pretty
nearly the same attitude as the man
who held gold bullion. The only
difference is that the people are COM
PEELED to have gold or its representa-
tive tOpurchaSe substance with which
to sustain human life, while it was
only necessary for the consumer to
shift his diet from pork to beef or
some cheaper article. The famine is
being relieved somewhat, now how
ever, and with the downward ten
dency in all prices, we now find hogs
descending the scale with the balance
of commodities. At this writing they
are only worth $4.25. 1t will be no.
ticed that the price of gold is still ad-
Yancing, however. Please bear this
in mind always.
Now as to hay. There is no one so
ignorant but that he knows that the
price of hay is not regulated in Liver
pool or any other foreign port. Ordi-
narily communities of less than 100.
miles separation have entirely differ
ent prices for this commodity. It's
scarcity in this or that part of the
country, its bulk and consequent ex-
penSe of shipment causes the wide
variations. 1t is true that some hay
will be exported this year, but it will
be only an experiment, made possible
by the unprecedented drOuth all over
Europe. So that it will be readily
seen that this is only bubble.
Tho proposition we made was that
all staple products, whose cost is but
little affected by the introduction of
machinery, have steady declined. In
proof of this proposition we produce
here portion of a table taken from
9Ql Statistical Abstraction 1892, pub
lished by authority of the United
st tnc traacuru 6oDo NJ roop+.