The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-09-27
PRIcEs AND MONEY.

Everything in the word is affected by
inertia-that Is, tendency more or less
strong to remain as 1t is, and which 1t
takes time and force to overcome. II
we change the center of gravity Of a
mass CT quicksilver. 1t readjusts itself as
quickly as fash; II we tilt measure
of molasses, 1t slowly settles itself in
accord with Its new conditions. Both will
ultimately conform exactly to the laws
OF gravity One does It instanter, the
other deliberately. Just so with prices.
Let a spectator stand in the gallery of
one on the many produce exchanges on
this continent Not merely every day,
but every hour, sometimes every minute,
the price Of wheat fluctuates. The report
OF an untime.y frost raises the price; a
favorable government report lowers II.
The adjustment OF a railroad war may
raise or lower prices. The arrival OF
tramp" shipping ready to offer low
freights may affect them; and the trade
In Ibreadstuffs comparable to the ocean
in its extent is seen to be as sensitive
and fiuctuatlng as are the waves Of the
sea. Take the salaries of our pubic
employees on the other hand They are
readJusted by the slow process of legls-
lation, fettered by coils of red tape, and |
for years-and frequently for decades
remain unchanged. 1t Is too plain to |
need explanation that the street .aborer
who receives two dollars day, no mat
ter what is the general price for labor,
and no matter whether goods are high
or low, and the commissioner at five
thousand dollars a year, are alike in
terested in having the best money possl-
bie-that is, prices as low as possible,
and the do;car able to command more and
more OF what each has to buy-and would
be injured by rise In prices-that Is, |
poorer money, or a depreciation in the |
purchasing power of the dollar. And,
since prices change promptly, and public
salaries and wages but slowly, then II
money is made poorer, that is. II prices
fall. for years to come the same nominal
salary or wsges viii buy more and more
OF the comforts of life
The example given is extreme but typi-
cal az on reflection every wage Garner
Will admit II he will look over his
butchers and grocer's bills, he will find
prices changing from week TO week, thus
showing, not indeed that the genera
vaCue OF money is thus huctuatlng Qor
factors Of temporary demand and supply |
may intervene), but that retail prices
though less frequently changed than
wholesale prices, are sensitive, ana
promptly respond to any change in. the
value OF money-that Is, prices will be
promptly lower IL the money Is made
better, and promptly higher II the money
Is made poorer.
Now, take the wages OF labor, Let
each consider the wages paid In his own !
and other occupations with which he is !
acquainted They change sometimes, in
deed; but how rarely and how hardly |
three years-such Is the comparative |
rarity OF wage changes-ln large measure |
changing only after a strike or lockout
or series OF conferences after .ong |
hardship and dissatisfaction on one side |
or on the other,
The result is plain. The prices CT 1
what wage earners have to buy respond [.
far more promptly to changes In the quail /
ity than do wages-the prices at which 4
labor is sold. Hence, whenever money .
Is getting better, though nomlna, wages
may tend to decrease, wage earners are
constantly getting more goods In ex-
change for the money they actually get
for their labor; and whenever money is
getting poorer though nominal wages
may tend to increase, wage earners are
getting Jess OF the necessarles
and comforts of life in return for the
wages they receive. Appreciation OF the
dollar In which wages are paid. ana
lower prices, is, therefore,
constantly and certainly to the advan-
tage OF the wage Garner, Depreciation
" the dollar. and consequently higher
prices. is always and certainly to his
damage