The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1895-11-08
CAUSE m FATITNG PRICES

The following article was published
in The REPUBLIC July Is, 1894, and was
the objective point of a considerable
portion of Mr.. Ellis TRADE in his
speech at the opera house Saturday
It will be seen that nearly the entire
article is statistical taken from the pub
lie records of the nation, compiled by
Republican officials under the admins
tration of Mr.. Harrison. If they are
incorrect, which they are not, the party
to which Mr.. Ellis belongs would be at
fault. The truth of the matter is that
those figures are damaging evidence
against either the intelligence or hon
esty of the Republican party, and as
Mr.. Ellis had been reqrested by several
Republicans to explain the matter, he
was forced to meet the argument with
the only weapon possible-abuse.
Read the following over carefully
and pick flaw in it, if you can:
A shrinkage in the volume of money in the
channels of commerce is the one great cause of
falling prices aud financial distress, we might
go far back in history to establish the correct
ness of the assertion, but that is not necessary,
We might go back to the year 1856 and state
from official authority the amount of the circu-
lating medium at that time lonly paper. Should
we do this. the statement would be disputed by
some; hence, we will begin with the United
States treasuTer's report of 1888:
REPORT FOR 1891.
Page Sj-Stock of all kinds of money
IN the United States October, 1881 81 49,, SIS 36f
DISTRIBUTION.
Page S9-Specie in the United States
treasury October, ISL, ..... 269,399,5 l1
f treasury October, IS8l,..,.....,... 43,lGO,S52
Total. ..........................$ 8l2,S6O,178
Spofford's statistics, volume 1889
Page 9l-Dep0sits in national banks
81 ,OSS, 100000 average % per cent
reserve locked up. -..,.......-..,..S 2l6,6ZU,UJO
Tribune Almanac, statistics 1896
| State and territorial banking insti-
tutions in the United States 0ctO-
Der, 1881, deposits, 81 3,O0G,OOg:
uniform . per cent reserve locked
up and out Of circulation equals. 59O,75O,OO0
REHABILITATION.
October. 1881, total stock of money. ASP 51S, S7
October, 1881, in the United States
treasury 49,. ....................S 31286O,l72
October, 1881, national bank reserve 2l6,621,000
October, 1881, state bank reserve. q. 59O,75OrOOO
Total out of circulation. 81, $50 go 113
Amount in tba af7nUpols Of roGo pga
Total. ,ls2, SIS, Us
United States agriculture statistical reports
| 1893, page 4TI-Wheat, average price per bushel,
| 1881, S1.19 2-10 The supply Of wheat, home de-
mands for food, after deducting from the total
crop of 1881 for seed and export, eQuEiled $3.50
| bushels per capita of the population.
REPORT FOR 1893.
Total stock of money in the United
States October, 1852, lsee United
States treasuToFs report page 81 .S,lO "a, I9
DISTRIBUTION.
Page 95-0ctobar, 1S93, in the United
States treasury .-.,.......-...S l02 334, SIS
Page S5I-National bank deposits,
all kinds, October, 1888, 4, f62, 30
900, an average y per cent reserve. 80, $4,000
I Page 3A-State and territorial
banks and banking institutions.
deposits, 81 81, II, 90; , per cent
average reserve. 1858 O3, so
October, 1859, total money out Of
circulation. 81 ,3ib
October, 1893, total money IN chan
nels of commerce. .,............... is6f53, As
Total. ,lOi. "a, 396
COMPARISON,
Money in channels of commerce, DC
l0uef Aaot ...--.-- .-.s.--s s<7zo6r "a
Money IN channels Of commerce, Dc
toner lo5. 10 30 4lo
Decrease of money In the channels Of com
meFce in Z years, SIS 81, 80, equaling a de-
crease in the channels of trade Of IS S-iW
per cent
Wheat, for fcOd consumption, in 1883 was
81 60 bushels per capita.
Value per bushel United States department
Of agricultural So $40 cents per bushsl
Decrease in quantity Of wheat for food per
capita, 1913 compared with 1881, equals 10 SIG
per cent. Decrease in price, 1893 compared with
1SSi. s. $500 Per cent. Decrease in money
channels Of commerce. 1888 compared with 1851
+ S. S5-1Oo per cent
BE- the law Of supply and demand 1t VIII be
seen that wheat in lSs8 should haze been worth
10 f-i9 per cent more than in lsS1, OF SIP $40
per bushel instead of S. $40 cents as per United
States npe5ts, loss to the farmer on each
bushsi Of 70 10 cents.
Vs5sill ecpy from the United States census
sgos lse5i fssl sssais uoflseges s Espslsi