The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1894-10-03
for twentv-five wears:

instances are given by the American
Grocer in review Of its market reports
for twenty-five years.
Flour per barrel $662 $3.50
Pork per barrel .... 3ro4 1880
Lard per pound ...... iS19 o79s
Sugar per pound ... 1888 o435
Tea per pound. -. . 50 23a
Rice per pound ..... oos4 o4k
Canned goods show even greater de-
pr citation in value. Cotton prints quoted
at fourteen cents per yard in 1869 are
now selling at four and half cents.
Steel rails in 1866 cost 1892 per ton; now
$24. In some of these branches special
inventions or processes have had their
influence, but in others these conditions
do not exist. The greatest decline in
most articles has occurred in the last
decade, and this tendency has been more
pronounced in the last three years than
in any previous three years. Naturally
this great change has caused both stu
dents of political economy and business
men to study the cause or causes. Some
are disposed to attribute it to the adop-
ton of gold as a standard OF values and
the decentralization of silver. Others
contend that increased facilities for pro-
duction and distribution are responsible
forit A careful study OF the situation
leads the non-partisan, dispassionate
observer TO the conclusion that both Of
these forces have contributed to the
result. 1t is perfectly evident to all,
however, that we have been passing
through transition period such as the
world has seldom SEEN The average
producer, manufacturer or trader has had
to contend against steady shrinkage in
the value of the articles produced or
handled. The only exceptions have
been those protected by monopoly in
some form. Exclusive production has
protected some. Patents have protected
others. Trade marks or unusual ex-
cellence others. Manufacturers of pro-
prietary articles, for which they have
established demand by skillful adver-
Using, have been among those who have
been exempt from the general tendency.
They have bought their raw materials at
constantly decreasing cost, and, being
able to control the selling price of their
products, have reaped profit which
those who were exposed to the full force
OF competition have not. Steam and
electricity, the great factors in distribu-
ton, have been the great Jewellers Of
values.
Machinery has played its part, and is
destined to do so in a constantly increas-
ing ratio. The control of labor has
always been factor in commerce. The
African slave trade was a phase OF this
question. In former times the man who
owned thousand slaves made a profit
from their labor and became rich now
the man who owns a thousand horse
power embodied in machinery bt comes
rich-until some one who owns two
thousand horse power or some new
machine representing increased pro-
duction bankrupts him. The wheel OF
fortune is always turning some down and
others up. All this acts and reacts on
the commerce OF the world. A striking
feature OF the present time is the eager
ness with which the Eastern nations are
availing themselves Of this modern pow
or. The silver using nations are getting
tired OF buying manufactured products
on a gold basis and are buying the modern
slaves which manufacture these products
machinery, and are not only supplying
their own wants but are striving to COM
pete with their creators. In the August
number OF Consular Reports United
States Consul Read, at Ten-Tsin, China.
states that large cotton mills recently
erected at Shanghai and elsewhere in
Central China have placed orders with a
European firm in China for cotton mill
machinery, amounting TO 100000
Consul McIyor, at Kanagawa, Japan, re-
ports that the Japanese have already
done, the same thing, and, admitting
cotton free OF duty, are now competing
with Lancashire and New England for
Sthe trade OF the East in this great branch
OF industry. Brazil has been buying our
milling machine y aud making its own
-four, ground nom wheat grown in
Argentina, cultivated with American
ploughs aud reaped with American reap
ers.
The carcasses OF Australian beeyes aud
sheep are now transported in refrigerator
ships by tens OF thousands and dumped
on the English market, in competition
with similar products OF the British Isles