The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-09-12

When the country had the
highest prices it has ever known. In
1866 the unlimited issue of paper money
banished gold from our circulation, and
the paper dollar was the standard.
Wages in paper money had risen 81
per cent above the gold rate of 1860.
At the same time we find that beef had
risen 10S per cent above the gold rate;
hams, 1913 per cent; New Orleans mo-
lasses, 135 per cent; rice, 1872 per cent;
salt, 1O2 per cent; refined sugar, 30 per
cent; calico, 121 per cent; two-ply in
grain carpets, 141 per cent; denims,
sheeting, POI per cent; shifting, 222 per
cent; coal, POI per cent; nails, 1872 per
!, cent; pine shingles, 121 per cent; win
dow glass. 10X14, 1875 per cent, and
quipine, 131 per cent. Here we see
that a deprecated standard of value
robbed wage earners of more than half
of their earnings. Now let us take
these same articles and the rate of
wages under the gold standard in 1891
and see how the wage Garner fares as
gold bug"
We find by inspecting the returns
that wages had continued to-. rise
throughout the whole term of 81 years,
but prices of commodities had resumed
their normal role of decline. Wages in
1891 were 60 per cent higher than in
1860 and in gold were 50 per cent
higher than in 1866, but beef had fallen
70 per cent: hams, 60 per cent; New
/ Orleans mOlasses, 70 per cent; rice, 90
per cent; salt, AZ per cent; refined sugar,
6S per cent; calico, II per cent; two-ply
ingram carpets, 50 per cent; denims, 76
per cent; drillings, 70 per cent; sheet
ings, IS per cent; shirtings, II per cent;
ticking, "a per cent; stove coal, So
per cent; nails l66 per cent; pine
shingles. % per cent; window glass,
10X14, GO per cent, and quinine, GO per
cent. The year 1860, under the gold
standard, was the year with which the
others were compared. The number
100 was given to 1860 and prices and
wages were marked above and below
that for the other years in proportion as
wages and prices went above or below
it. Taking 100 for 1860 as 100 cents,
the price of a days wage in 1866 was
$1.52 per day in paper and in 1891, $1.60
per day in gold. In the paper money OF
1866 the price of coffee was 43 cents
per pound; butter, 80 cents; meat, - 12
cents; New Orleans molasses, $1.25 per
gallon; rice, IA cents per pound; soap,
IL cents per pound; refined sugar, TO-
cents: calico, 81 cents per yard; two-ply
ingram carpet, Sill per yard; denims,
80 cents; drillings, 80 cents: ginghams,
II cents: sheeting % cents; women's'
all wool dress goods. 60 cents; tea
and glass goblets, $500 a dozen. The
wages of one days labor at $1.52 in
paper would then buy 3 IL pounds of
coffee or three pounds of butter or 10
pounds of meat, or 1 Is gallons of
molasses or II pounds of rice or s
pounds of soap or Is pounds of refined
sugar or 5 IL yards of calico or less
than one yard of two-ply ingram car.
pet or yards of denim or 5 yards of
drilling or IL yards of sheeting or,
IL yards of women's all wool dress
goods or II table plates or % tea cups
and saucers or half dozen glass goblets.
In 1870 we returned to the gold stand
ard and we have remained upon that
standard ever since. In 1891 the price
of days work in gold was SLIGO and
the prices in gold of the articles named
above were as follows: Coffee, 10
cents per pound; butter, 25 cents; meat,
10 cents New Orleans molasses, 80
cents per gallon; rice, 6 cents per pound;
soap, 6 cents; refined sugar. 3-4c;
calico, 6 cents per yard: two-ply ingram
carpets, 81 cents; denims, II cents;
drilling, 6 cents; ginghams. Z cents;
sheeting, IL cents; women's all wool
dress goods. % cents; table plates, 4
cents tea cups and saucers, 3 IL cents
per pair and glass goblets 25 cents per
dozen. A days wages at S1.60 in gold
in 1891 would buy 10 pounds of coffee
instead of 3 IL pounds in 1866; 6 IL
pounds of butter instead of 8; "a pounds
of meat instead of 10; ; gallons of New
Orleans molasses instead of l 1-5; 20
pounds of rice instead of IL: 26 pounds
of soap instead of s: 80 pounds of rice
instead of 10: 26 yards of calico in
stead of 10: three yards of two-ply
ingram carpet instead of one; 10
yards of denims instead of 3; 26
yards of drilling instead of 5, % yards
of Bingham instead of 0, "a yards of