The record-union., 1895-05-11
A. sTATIsT1C1AN,s VERDICT.

In the consideration of the movement
of prices and the shifting of wage sched-
ules, it is necessary to have broad hori-
zon of view. To simply compare one
period with another is of little statistical
value. The true statistician takes periods
into account, each representing groupsiof
years, and between these he makes COM
PARSONS. He invariably casts out OF his
estimates temporary. abnormal and
merely local disturbing incidents.
In this spirit Edward Atkinson con-
article in the Forum, and reaches con-
clusions that do not harmonize with what
may be called the popular and general
understanding and belief.
Taking the price of silver for a series Of
years down to 1892, he finds that year to
have witnessed the lowest point reached,
or very nearly so. That it was further
depressed in 1893 he attributes to abnor-
NAL causes. as for instance, the campaign
of the free coinage people. But for twenty
years prior to 1898 he finds, as matter of
fact. that all leading products of soil,
labor, commerce and investment had re-
duction in cost and for distribution, ac-
counting for the decline in silver. He
presents an elaborate table of articles that
have declined materially that are Of COM
mon use and to be ranked as necessities.
Alongside of these he places wages, and
shows that on the gold basis these have
just as steadily advanced.
Ascertaining the ratio of wages to
prices he deduces the fact that the pur-
chasing power of wages has varied from
S44 in 1915 to 100 ih 1860 The decline was
66 to 1865 and then there was rise to
1928 in 1850 and to 172 in 1890.
OF course. the war greatly reduced the
purchasing power for long time. despite
the apparent rise in wages on the our
reney basis. But since the resumption
of specie payment in 1879, and up to
April, 1898, there has been a rapid and
steady rise in the purchasing capacity, so
that fully half the loss suffered before
that had been recovered to that time
April, lS93-by the wage-earners of the
land.
These deductions he fortifies with
mathematical testimony. Evidently he
is fully aware that the statement will be
contradicted by the Populists and calam-
ity howlers, but knew when he wrote
that the fact stares everyone in the face
who Will see, that since 1873 the average
wage and the average profit in business
have doubled purchasing power in secur-
ing necessary commodities over the
power they had during the thirty years
preceding 1873.
This fiuctuation Of wages. he contends,
was not capricious. but the inevitable re-
suits of well-known natural laws. The
causes operating through improved trans
portation, production, preservation,
mechanical and tool methods, and the
like, to lower the cost of animal food,
cotton and of grain, for instance, had also
the effect of advancing wages. He ex-
plains in this way, increased demand for
labor 10 produce, results from reduced
cost of production and increased sales Of
products, and at the same time the in
creased profits, and hence the ability to
meet the higher wage.
A matter upon which the statistician
dweils with exceeding emphasis is the
assertion, fortified by a tabular show
ing, that there was greater fiuctuation in
the prices and almost as great fall be-
tween 1916 and 1872. when the Latin
Union was in existence and silver was
freely coined in France at 153 to l. as
since the so-called demonetization Of sill
yer. He holds that since 1873 there have
been less fluctuations than before, and
all have corresponded with the reduction
in cost. He adds:
This beneficial fall has been accompanied
by a corresponding or correlatiye rise IN
wages greater in the United states tnan IN
any European States, and under lhe lnnu-
ence OF peace and the stability OF the Sold
unit OF value this beneficial fall IN prices mas
been accompanied by q vast ueVeiopmenb OF
international commerce.
But he thinks that in 1873 there was an