The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1895-08-13

AZ / cents per bushel Here is an advance
in gold Of 4 l cents bushel between Tho
two years.
Harvey replied: "As to corn. (Se,
statistical abstract pnge 2Si) For 1877
we produced in the Unlted States LOO,
| $4,000 bushels OF corn. We then had d
! population Of 40 800, 600 In 1894 the
| United States produced /, 2lY77O, 05s bush
els, With population of 6S 275,OO0 For
1872, 24k bushels per capita; Tor 1894
| TX bushels per capita Seven bushels
less per capita in 1894 than in 1872.
Take il another way The number OF
farm animals (corn-eating animals) in
the United States for the years 1872 and
1895 is shown by the s,me statistical alb
stract, pages 1913 and 29. and by taking
the corn crop for THESE Two years, as
shown on page 28i we find that there
were ten bushels of corn TO each animal
for the year 1879, and only rs for each
animal for 1904" The uses or corn had
also vastly multiplied in the intervening
years.
Horr then proceeded with the value OF
farm products: I'm 1876 TO 1879 the ma
tion raised each year an average crop Of
81, 7S7 70 bushels of oats: they were
worth during those five years So S35, 065 "a,
or 3lA cents per bushel in currency, or
30 cents in gold In 1899 TO 1885 the
average annual oat crop was GA 7SS $50
bushels, with total value for those five
years OF Sl,O66 217, 376 or 81 4 cents a
bushel in gold. These figures show that
the greatest cereals have not been de-
creased in price by the legislation of 1873
silver has been constantly going down,
corn and oats are higher in gold value
than they were in the five years previous
to 1879
~ will now refer to wheat. The price
OF wheat was depressed because it was
30 largely exported. The value of the
advanced, because corn and oats are
mainly marketed upon the farms upon
which they are raised. Let us now strike
a balance for these great cereals in the
United States. The United States from
1875 to 1879 produced of corn, oats and
wheat an annual average of 2, Ill 535, 2i9
bushels, with an annual average value
In currency of 46 z cents bushel, or "A 4
cents in gold. From 1890 to 1894 they
raised an average crop of 2,723, 637, 30.
with an average value Of "A 4 conts
bushe. This is exactly the same as the
gold average for the years before the sill
yer legislation; before, according to
Brother Harvey, the effect began to be
felt in the prices of the United States"
Harvey replied by stating that farmer
in Mexico sells wheat in London at ST. %
per bushel in silver and pays SLIPS Il
debt We sell our wheat at London at
IS cents, and can pay no more than 65
cents worth of debt with it, He then
coiJ hot bn Of hn ~
money needed in this country was an
important question and figured it at 81, :
10000, 900 This was primary money.
He ridiculed the confidence idea.
Horn took up the statement about the
Mexican farmer and his wheat. He said the
Mexican who sold his wheat got Mexican
money The American got American
money. The latter could go to Monterey
and depositing the dollars he got for
his wheat get just twice as many Next
can dollars therefor Harvey objected &c
to the American farmer that he could not
pay so much debt with the money he got
and Horr said he would coma TO that
later.
He said: "In 1878 when this act passed,
calicoes averaged x cents yard. The
farmer can buy 1t now for 51 cents,
oheapened not by cutting in Two the
measure of value for we have the same
measure OF value we had then, but
cheapened by the great law Of cheaper
production. A reaper which then cost
Sl7O can be bought today for $40. A
mower which cost $40 then can be bought
now for $45, "--and SO on. "Silver has been
cheapened in precisely the same way. So
have iron, copper, lead, aluminium and
every other loading commercial article"
Harvey sal "You may cheaper
thing with reference to the time required
to produce it, but if the man that handles
the machinery that does it does not get
enough for the work to hold him up as
a responsible citizen in the community,
wherein does your cheapening process
help him anyp Horn had not mentioned
the property most 10 demand In the
world-money. All these thiags Horr
had enumerated would only bring half as
much money. Legislation had been In
the interest of men owning money.
Horn then put In a table giving the
prices of nine agricultural products, in
Guiding wheat and cotton prepared by
the agricultural department., showing
that from 1859 TO 1904 the prices had
not declined,
Horn further proceeded to quote sta
tistics to show the increase of wealth
In the United States between the years in
consideration. Harvey r5plied: HE
said that we had increased in wealth.
Nobody disputes that. Now does our in
crease in wealth go to show that my
proposition was not true that the owners
Of money and securities are exchanging
their property and absorbing yoursP"
Horr then went back to the question
asked by Harvey as to why the increase Of
the production of silver from 80, so. 001 in
1850, TO S65, 800 600 in 1872 had not affect
cd the price, while slightly less increase
from 1879 to 1884 had caused the price TO fall
II per cent. He said: 1.-THE renson why
silver did not fall between 1860 and 1879
was because Of the enormous demand for
it in the Orient Mulhall page S0s) gives
the imports Co India alone from 1860 TO
1870 at $500 100000, while from 1870 TO
1889 she took only S259O0OOo0 The en-.
tire production of silver from 1869 to 1870
was $500 OO), 00O, and was utterly absorbed
by India alone, while the production from
1870 to 1880 was $685.. 100000 more than
India absorbed"