Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1895-07-05
FRIDAY MORNING, JULY 5. 1895.
THE VOLUME OF MONEY DON'T
MAKE PRICES.

THE VOLUME OF MONEY DON'T
MAKE PRICES.
The two papers from which we make the
extracts given below are both journals OF
influence. and in view Of that influence
their teachings which are relied on should
he accurate. The Leesburg Washington
ian has this:
The crop reports in this country, in South
America and in Europe do not Indicate an
average crop, and, as natural result prices
should be higher. Under present conditions
of the crop outlook, if we had the currency
we had before the innovation of 1873, wheat
would to-day bring from $lOO to 81 80 per
bushel.
Well. let us look at it. Before "the in.
novation Of 1872 the total money, coin
and paper, circulation of the United States
was less than 100000, OCO-to be exact,
from the year 1866 to the year 1873, it varied
between $751; 600 and ST., 100000. On
the Both of September, 1894, the latest
Treasury report, the amount Of money
coin and Experimentation OF the United
States was So, 42l ,46l, 747; just three times
as much! The population In 1873 was
Al ,677 900, and the per capita was SlS04.
The population in 1894 was 6S,S97 900 and
the per capita Was $24.30-about third
more. Our figures are obtained from the
office of the Secretary of Treasury at
Washington.
The Charlottesville Progress tell the
Norfolk Landmark that the tree coinage
of silver would make it possible for farm
ers to incur the expense Of BODYBUILDING
in other words if there was more money in
the country. 1t says:
In 1873 corn yielded to the farmers of this
county a return of Sill. Al an acre; in 1898,
only So. 50 an acre.
Oats in 1873 yielded to the farmers an aver
age of S1O.s7 an acre; in 1898. only S6.26.
In 1898, although the number of mich COWS
had greatly decreased, their value had fallen
off 40 per cent. from that of 1878.
In 1873, although the quantity per capita
was greater that in 1898, wheat yielded an av-
erage return of S14,59 per acre; in 1898 the
value was S5.OS per acre.
Now let us look into the figures Of the
Progress
In 1873 the coin and paper circulation OF
the United States was STA ,445, $40, a per
per capita of $1SO4 In 1898 the coin and
paper circulation of the United States was
50, 325, 4O2 1892. per capita of $23.S5. If
9smore money! which is the meaning of the
free silver cry, would have any effect, then
taking the ratio given above the farmer
ought to have gotten in 1898, the sum of
$l6 an acre for his corn; SIS for his oats;
$21 for his wheat, and his mich COWS
ought to have brought more than in 1873
instead Of falling off. AS these things did
not happen in 1898, az thefree silver theory
called for; as the low prices of these pro-
ducts were caused not by the scarcity OF
money, but by the scarcity of demand, and
as the prices of products have improved in
1895 when there is no more money in Gil
culation than there was the year before,
our two friends must revise their instruc
lions and teach what is the true eXplana-
ton of low prices. And that is that prices
are regulated by supply and demand, and
not by the amount of money in circulation
to buy them. The statistics of the United
States that we give above show this, as dc
those of every civilized country on earth.