New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-22
TyUERCONSUMPTION

,,,.,ro.. u,n was more Of Il philosopher
than he supposed when he made inns S',l'""
r.m,rl,. "Amcrcans have been taIhlnS WI 4"
.ccu,ration about the evils OF overprou"c''o"'
..Is II nat fine for us all 10 pay some a''eh'io"
.., tho mare serious evils or und"rcohS"mP-
..,ior.- With q fve-ccnt rate for cotton ann II
dwnw,rd tendency in Liverpool mat ma!
carry il lower: with the abnornaily low PRIV
II wbo,t creating "A feeling of deSpond'n'y IN"
conservation among farmers; ana WIFI 'oi"
,odifics of all kinds cheaper than III lorm'r
years. We, with light and variable demand i"'
,hem at any price the conviction Is i"rc''' "p""
raoc,iur minds that shrinkagc OF PURCHASING
,,r I'm the greatest market of the world II
easily more disastrous. not only tn the hit'u
states but also to Europe than any surplus W
,roductiyc energy can ever be. TWO years VI
hus;ncss uncertainty and depression nave pro-
duccd conditions Of undcrcons'lnp'ioh III -
>,non which in its prosperity was the n'a''H'
,,,,.,r ho,h of imports and domestic proh"c'N
and r,,uuf,.t,Ircs Recovery from those conhi-
,ir, l. necessarily slow and difficult p'ca"S'
:, i,,n,ios = restoration Of the purchasing power
nf thc average consumer.
.r,. or1;p,rv 1,rec-Tradc economist has IN
oos, v,v of disclosing ~ such phenomena rs
u,,,.,r,,inrs If tlc universal law of supply ana
demand There is more cotton and wn'',
.,'.I In uuI say than the world needs. ana
'.,,,so,u,ntlv prlces have fallen but an"'h'r
,o,r ,horo will he n diminished acreage OF ench'
and the evils Of oycrproduciion viii be- counter
acted Formulas like these do MOI go "'"P
onouch ro reach the level Of undcrconSnmp'''"'
Although The crops ~ cotton III" ""'"'
,i,nno,nc,oIlv large. the supply would not rx-
Good the demand enormously !, 'h' "N'''-'
..,s,,,,.r couh buy on The same seal" ~ III
1897. the last prosperous year. b"' Nus Nv '''
pot do for his ca; nin.s hav" b"ril r'"u''"' ~
savings have been impaired MS 'hll"H "'"' -
uncertain and his prospects are I'oo"'' ~
wearing his Old clothes. living Oh 'h''P'' ''''
and less IL II. and cutting down MS HNlhg ~
n.ns,s I'm many ways II" i III" '"hs""'"-
,rit and he hrvS less than hs hlh Mn''pN
him hy seventy millions and there i Inc Nu''''
can market with a shrinking" "f phf'haN'hN
,,ver which has diSlSlrou>ly aii"'''d III ~
own ministries. and many ~ those oi inc "'''''
Th.r. are smaller sales of home mahu'a lures
and less work and lower wages for WORKERS
and unA,r,onsumpilon ~ food AMI ci"'h'nS j
the normal result
vi,l ,o,tou ~ five cents and The prc" dr""p
in., Sauihrrn planters are IN - stat" "i p'"l
dcrmcni aud CONSERVATION. bankruptcy anu
i,,,,,,,,ri.hm,ni stare them in ia" fac" II Inc
,,...ni rato which they assert j. below Inc
r,., ~ production. be- maintained. In liz" man
Nor ia. wheat producer src~ ruin c"n'r""''"N
him, in ia. continuance ~ low prices Tor gram
1,.. s.u,h.rn planior aud III" Western farmer
,,.. ,,,, accents who were largely instrumental
Il, ordering. in lS.r, a reversal ~ the indn>'rlh'
~ ineffective n,licics ~ the Nation. ar" now
.,o.,,,,,. directly from The evils ~ und"r'on
s,r,,ion Manufacturing Interests w"r" Inc
ors, to feel thu. effects - business uncertainty
and The losses II wage carn"r~. the great 'H''
.,,,,,,l ur.duccrs South and West ar" now
learning io their cost that ~" m'th'" "'F""'
in ,he purchasing power II prosperous N''''n
r,ar,. necessarily upon cotton painters anu
wheat farmers.
I, ,.h.,nucss ~ food and clothing were the
main factor ~ national prosperity American"
woull now have full cause for grhu'n'' ~
n.r,,.r,tic tariff mc,ldlcrs But when flour +
low. and cotton sells below the cost 81 pr"''
zion. and every other commonly i 'h''P y"
cause the supply runs FAR beyond ih' d'hh'h'
,h.v need not b, thankful. The pricil'al 'N
marianne. of ,hc last two years has taught Amer
cams that whatever may he the truth about
Fra. Trad, or the Protective policy. nothing can
,.l. ,bc place 81 National prosperity under
which all CLASSES 81 the population are employed
a, good wages and all INDUSTRIES are in mn "h
imnclcd opcraion Those are the conditions
which develop the purchasing power OF every
consumer and make the American market 'h'
main safeguard against overproduction at home
and abroad.