The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1895-05-01
A Lesson Of The Gold
Standard.

The Constitution has received the
official figures from forty-three states
and territories. Of these only twelve
show an increase Of property values.
The remaining thirty-one show an al
most uniform decrease. The total de-
crease for the thirty-one states amounts
to the tremendous sum of $500, 1885,
100. This falling of is general.
There is no overwhelmingly large
change in any state-such as is shown
in the great gain made in New York
but the decrease is widespread and
general.
The total increase Of property values
for the twelve states is 1887. 800, 1853.
Of this amount 1885, 1888, 482 comes
from New York-this being a fraction
less than 70 per cent Of the whole
increase. Seventy per cent of the re-
mainder comes from the two states Of
Massachusetts and Pennsylvania. Thus
the total increase in niue Of the twelve
states is $50, 1922. 092, while the in-
crease in New York, Pennsylvania and
Massachusetts amounts to S306, e7S,-
661.
We are of the opinion that this extra
ordinary showing ought to open the
eyes Of the people of the country at
large to the unwbolesome and disas-
trous effects Of the single gold stau-
dard.
Look at the official figures and study
them. The only large increases 10
wealth and 10 the volume Of property
during the year 1894 were 10 the
peighborhood Of the big money centsrs
New York, Boston and Philadelphia
where the money of the country has
been congested, where the stringency
in the currency has not been felt, and
where the shrinkage in values due to
the single gold standard has been more
than over-balanced by the increase of
those forms of property that fatteu on
the results Of panics. Thus, while the
farm lands of Pennsylvania have de-
creased in value more than 5000, 000,.
0O0-as shown by the Philadelphia
Manutacturer-tbis loss has been over
balanced by a gain of $40, 1913, 702.
Let US analyze the remarkable results
shown by the table a ! little further. Of
the New England and middle Atlantic
States, New Hampshire and Vermont
show slight decreases. Maine, Massa-
chusetts, New York, New Jersey and
Pennsylvania show large increases.
Two states in this group-Rhode Island
and Connecticut-do not make returns
for taxation that are available for our
table.
In figures, New York, New England
and the middle Atlantic States show a
net increase in the value of their prop
ersy Of 1912. 10, 555.
10 the southern group Of states, We find
slight increases in North Carolina,
Soath Carolina, Florida and Louisiana.
In the rest-Alabama, Arkansas, Geor-
gia, Kentucky, Mississippi, Tennessee,
Texas, Virginia and West Virginia
there have been heavy decreases, the
net decrease for the section being $780,
294,580.
In the central and western groups Of
states and territories, but two Mime
sofa and Missouri-show an increase.
These both belong to the central group
with Ohio, Indiana, Illinois, Iowa and
Wisconsin, and despite the gains in
these two, the net decrease for this
group is Sl11,655,252.
In the western group there is uniform
decrease. California. Colorado. Arizo.
ma, Idaho, Kansas, Montana, Nebraska
New Mexico. Nevada, Oklahoma, Ore
gon. South Dakota, Utah, Washington
and Wyoming. show a net decrease iu
the value of their property of S21O,'
671,153.
This showing could have been made
still more startling if The Constitution
had compared the returns of 1894 With
those of 1892, which was a year o fcom.
parative prosperity. But We have com
pared the returns Of 1894 with those Of
the panic year of 1893, and the result is
that $500, 1S5. 80 in property values
has disappeared. The people have been
compelled to sacrifice FIVE hundred mil
lions of dollars 10 one year to satisfy
the demands made upon their re-
sources by the British gold standard
This immense sum refers to property
values alone. What the people have
lost by the depreciation of the products
of their labor and by the depression in
business and the waste Of labor com
PEELED to remain idle can never be esti-
mated. A thousand millions would not
cover all the losses that we're occasion
ed 10 1894 alone by the operations Of
the British gold standard.
r. ohould M horne in mind that these