The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-04-15

/ knA nTfm0 NnNRM3HU 70 N ANMN&AS " ~
| But the tide soon turned, and ss the trolley.
the cable car, and the elevated railway dis
placed the horse car, snd the supply In
/ creased 10 - animals Tor each 100 people.
the price had fallen by january, 1928. to an
average Of $3.50. the price level being now
. third lower than nine years ago. Did
the fall Of cents an ounce In the price OF
silver between 1850 and 1895 cause an adj
vance Of rs per cent. in the value Of horses
II the advance Of IS per cent. between 1880
and 1885 was caused by scent fall In the
price OF silver. what has caused fall OF "a
per cent. In the price Of horses since 1885?
We desire TO direct the attention of
our correspondent to the important prod
| uet. swine, and TO the course Of prices
| for this staple. In the winter OF 1872
| Is. just before the demonstration OF sill
yer. the Western packers were offered and
bought 5.lOo, 900 swine for en- average Of $40
per 100 pounds. Three years later. In the
winterof 1s7s7s. after the very short corn
crop Of 1874. those packers were offered but
100000 swine. for which they paid an aver
age of ss.s6per 100 pounds. In gold. After the
| expiration OF another three years, and after
| tho harvesting Of several corn crops above
| the average In acreage yield, the packers
were able, in the winter Of 1872, to secure
| 100000 swine at prices averaging e2so In
| gold, per 100 pounds.
At this time silver fell cents an ounce,
| or per cent, az against fall Of IS per
| cent. In the price for swine. Logically,
another fall OF per cent In the price Of
silver would have enabled the packers to
secure o supply Of swine without money
and without price. In 1881 the corn crop was
but 70 per cent. as great as either Of the pre-
/ ceding two crops. and IS . result the farm
| ers were able to furnish the Western pack
ers in the winter of fssl-sa but three-fourths
as many hogs as in 1s7s-70. yet were able to
secure o price therefor averaging s606, or
an advance Of 1le per cent. over the price Of
three years earlier; and this enormous ad-
| vance occurred ct time when silver duo
tuated, In three years, less than . cent an
ounce In the annual average price. In
1856. whom horses were advancing
| very rapidly because Of the fall in
| the price for silver. the farmers offered
| the packers an increased supply Of hogs
and were content to accept e3.6s per 100
pounds, or 90 per cent. Of the price Of 1ss1-s2.
i In this period the price for silver fell 10 per
cent. 90 against fall OF 10 per cent. In the
| price for swine. In the winter OF 1s90-91.
after two enormous corn crops In 1888 and
| 1855, the packers were offered and bought
4 S.200. 900 swine from Western farmers ct an
average Of s3.54 per 100 pounds: but In the
winter Of 1892 80 the farmers were able to
furnish the Western packers but 100000
animals. for which they were paid an aver
! ago OF 1884 per 100 pounds. or 60 per cent.
moro. Although the swine sold In 1892 90
4 weighed some IS pounds each less than
| those sold in 18o1-92. and numbered but SO
| per cent. as many. yet the farmers received
| 20 per cent. more money therefor. That is.
In 1892 % they received S95 800 900 for 4.600.-
600 animals. as against $7s. COX. 900 in s91-s2
| for 8. 2O0. 600 animals. Are We to believe that
Q fan OF Il cents an ounce In the price for
silver advanced the price Of swine 70 per
| cent. and added s21. 7Oo, 900 to the net rev.
| enue Of the farmers And yet this must be
true II silver dominates the price OF every
| thing that men have to sell II such prices
| result from silver's domination, the farmer
| has reason to be thankful therefor. and to
pray that silver shall continue to fall.
Our investigations show that the price for
swine Il directly related to the supply as
proportioned to the consumers OF pork
products. and that there u no traceable
relation between such prices and the price
for an ounce OF silver.
While our correspondent assures US
that the price for an ounce of silver has.
for many years. been the value OF
o bushel Of wheat. yet he has neglected to
inform US In what particular market this
parity Of values has obtained. nor has he
told Us for what definite term Of years.
Fromthe very patient consideration given
to this matter. 1t appears that the price
| OF silver has everywhere tended downward
since 1859. that 1t had fallen cents an
ounce between 1853 and 1873. and that since
1859 there have been but four movements, Of
very limited duration. In the opposite d.
rection: while the price Of wheat has. In the
United States at least. varied yearly as
varied the quantity available for export.
there having been as many as eight move
ments upward since 1878. some Of them
traversing moro than one-third Of the scale
in single year. though In but one instance
prior to 1893 has silver varied As much a.
per cent. In any one year.
Not having been informed where silver
and wheat have been 30 constantly kept
upon the same price Level. and being more
especially desired to consider American
conditions. We take. as sifordlng an abso-
luteiy fadr ooupdrtsOns the prices roce1voo
by the growers In the farm markets OF the
United States at the close Of each calendar
year. We find that as . result OF . mea-
gre harvest in the 1s76-77 crop year. tho
quantity available for export from that
harvest and from tho residue of previous
harvests. Diminished a5 per cent. and that
the price rose 20 per cent: that the two
succeeding crops were such a. TO increase
the surplus available for export by fully 200
per cent. and that the price fell from O. 0s
bushel in 1877 to rs cents in 1878. or % per
cent. although silver fell but three cents
an ounce. Tho next year. however. wheat
advanced 81 per cent. while silver rose but
two cents an ounce. The following year,
lsSO-s1. the exportabie surplus increased and
the price fell Is cents a bushel. while the
years average price OF silver remained the