Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-05-02
FACTS AsouT PRICES.

FACTS AsouT PRICES
.>snocr.ss Opposed 90 Artinci.aly Creased
| Iacrcasee.
Some Of our republican contempo-
raries have taken occasion to criticise
democratic newspapers that have ex-
pressed qualification at recent advances
in the prices OF many commodities.
They say that democrats are great
sticklers for cheapness, and that they
have no right to be gratified at an I'M
crease OF prices
This shows only how easy it is to
misrepresent an opponents position.
and how naturally this becomes the re-
sort Of those who cannot meet ques-
ton squarely without suffering discom-
future. The sort Of high prices which
democrats chiefly oppose are those
artifcially produced. Democrats be-
lieve in the free play of economic forces,
so that each man may get what he
earns without interference from the law
except so far as may be necessary to
provide revenue for the government.
They contend that when the govern
ment intervenes to advance the price Of
one set of commodities and to lower
the price or the exchangeable value of
another set it perpetrates an injustice.
Without such interference by the gov
eminent or others, prices will rise or
fall in proportion to supply and demand.
It is altogether different in the case
of artificially high prices. This is very
well illustrated by the outcry about
the recent advance in beef. If this
were due to a decrease in the supply of
cattle, and the advance in beef cor
responded with the better prices re-
ceived by the raisers of cattle for ami
mails on the hoof, there would be no
just grounds for complaint 1t is be-
cause the people believe that great
combination, which plumbers producers
and consumers alike, is putting up
prices, that they complain If this is
actually the case, there is good ground
for the excitement that exists on the
subject If, on the other hand. it is
due to the unrestricted operation of
supply and demand, prices will remain
high until the supply is increased, or
the demand falls off. The same may
be said of the price of petroleum. If
the wells are really failing, as the
trust magnates insist, then we have
seen the last of cheap oil until new
sources of supply are discovered or an
acceptable substitute provided
The advocacy of prices that are as
low as supply and demand dictate in
wolves no approval of panic prices.
There is no controversy about the fact
that we have had disastrous panic,
however we may differ as to the cause
of it Panics involve large falling
off of demand, because they diminish
the purchasing power of the people.
Large quantities of goods are forced
upon the market and sold low to at
tract buyers. It is not healthy, but
a morbid condition. In a normal state
of trade prices do not go below the
cost of production. When they do
there must be either an excessive sup
ply or an inadequate demand. When
we have a rally of commodities from
panic prices, due to an increase of de-
mand, which, in turn, is due to better
business and the increased purchasing
power of the masses, it is, of course, a
subject of congratulation. Thus the
advance in cotton and wheat, which
had been s.bnormally low, was well
coined both as affording better remun-
Grafton to producers and as symptom
of better times.
That cheapness is desirable in itself
cannot be disputed by anyone who OBJ
serves the whole trend Of our civiliza-
ton. The ultimate measure of value
of all commodities Is the labor required
to obtain them. The more of the nee
essaries of life man can obtain for q
days labor the cheaper they are to
him Now, the whole tendency of this
prominently industrial and CONNER
cial age is to increase the product of
a days labor. Where the old hand
looms of less than q century ago pro-
duced only few yards of cloth to the
operative hundreds are now produced.
The effect of this, of course. is to make
things cheaper. Hence the improve
ment of machinery and the various In
ventions and discoveries have cheap
ened enormously many articles of
prime necessity. The reduction of
price has in turn led to an immense In
crease in consumption, so that more la
borers are employed than before. The
laborers, earning more, have received
higher money wages at the same time
that the purchasing power of money
has increased enormously. Thus the
standard of comfort for all classes has
been raised, and the masses have been
greatly benefited.
The protectionists try to make the
supply of certain goods artificially
small by shutting out foreign compe.
titlon by the tariff, and domestic CON-
petition by combinations Their OBJ