New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-21
Observation-Disclosures
HOW 1T HAS STEADILY DECLINED FOR
TuIRTY-FIvE YEARS.
MEANWHILE THE AVERAGE VALUE OF GOLD
MEASURED IN FARM PRODUCTS. HAS
SCARCELY CHANGED
fBy TELEGRAPH TO TIE TRIBUNE.

my TELEGRAPH TO TIE TRrBUNEl
WASHINGTON April 2o-'The campaign of educa-
ton" which the advocates and partisans OF free
silver are conducting. is peculiar one In many
respects but in none Ia II more so than in the
glarng miss;atoments and Misrepresentation which
they are sowing broadcast among the farmers.
4 fair sample Of these is the assertion made by
Secretary Harvey OF the Chicago BlmctallIc Com
mttce in commenting President Cevclands
recent letter tina, "a debt OF $1,000 that LOCO bushels
o. wheat would have paid ten years ago now re-
quires the .farmer 10 give up 1000 bushels This
assertion was made without qualification. ana IN
euLl 50 poldooor OF hiqrqoid HIN " 'PolnjoI ssoI
and make a considerable impression upon the
minds Of farmers 10 whom 1t appears to be eS-
pccially addressed. an argument to win thcm
the support Of the propaganda whlch haa ioT us
object the free and Unlimited coinage OF SILVER
by the United states AT ratio OF 10 to J. regardless
of the action OF other civilized nations The at
,cnton OF ]. X. UPTON. formerly Assistant score
tary of the Treasury. than WHOM there Is no more
thorough conscientious ard Intelligent student OF
financial subjects in the country called 10
Mr. Harvey's assertion ard In was asked: "lS
this fallacy?" NJ. rptca replied
will let the figures answer your question. Ten
years AGO No. spring whea; in ChIcaso was Is
quoted at - cents; today It is 81. decrease IN
value OF % cents bushel or % per cent SO tnat
a deb, which lO0o bushes OF wheat would pay ten
years ago would now require but 800 bushels. IN
in fact Of 90 bushels to begin with However,
the yaluc of wheat has declined seriously enough.
and If that OF al agricultural products has llso aen
changc vas due to Increase in the value stand
ard might seem plausible. But corn, the crop o
which is about onc-half greater In value man ma
OF wheat was quoted In January, 49,. on inc I'M
cago Board OF Trade. Of 3 cents hush"i' }"'Ier
dav AT g. an increase OF 10 cents "A bushcl. or y
per cent. rs this IL also something mat one can
understand. what is the inference Taxing me
two cases together II seems to mo mat reason
able inference would be that tho standard had noth-
ing To do with the matter In M the wheat crop
was &I@oFO bushels IN lsN. va fo'v"' } ,.'
increase OF more than lGoGo,o' bushels, ana th'r'
was n general increase nj the same i'm" IN ne
product OF other countries. Would not such an
Increase OF itself explain tho fall In value
The corn crop OF 1881 l1s6.0oop bushes. that
Of lSoi was hut l9l3O00GN. decrease OF 5'31"."o
bushels. Would not such decrease in i;s"lf "N-
pain tho increase u value peg hushcl? To asc1r-
tain If there has been any change in The standard
Of measurement prices Of more products. extending
over longer periods should be taken ard considered
This has been done shown In the report on prit's
and wages submitted by the Finance Committee ~
the Senate March g. 1898 The Investigation was
conducted through a suh-comwit'e'. conHist!nE o
senators Aldr!ch allison. Iiis"0Ck X. Jones tN"N.l
Harris and Carlisle. ana tho compilation was made
under the nme1iat" supervision of SuporWt"ni ~
Wright. II the Department Of Labor. The commit
tee carefully computed the average prices per an
mum OF the nine principal agricultural rroluriF
and wheat since $3.50 and. after giving - each proi.
net IL, weight IN proportion 20 ITS yicll ''ihhhc'
AMI 1hu,atrl. nc values ia co.t ~ til's'
nine products for every year from lSN 90 lNl. thtt
81 1850 being Represented hv lNl Below MI pr i"uhI
this tahulafou for every hfih year. o. "Hrh
have added tho gold value - ~" bullion IN F.N''
dollar that tn, depreciation IL the value ~ t.tNrr
may De- strkinrly shown