Marietta daily leader. (Marietta, Ohio) 1895-1906, 1896-08-24

1t appears from these figures that in
the period of five years, beginning five
years after 1.-THE crime of 1873" wheat
commanded higher price than in the
five years from IS73 to 1877 Corn also
advanced in price, and it will be OBJ
served also that corn, the largest and
most valuable of farm crops, was higher
in price in the five-year- period of 1885,
81 than in the five-year-period of 1873
81.
This would seem to dispose effectually
of the assertion that the "demonetiza-
ton" act of 1873 has reduced prices dur
ing the past few years, for obviously if
it had no such effect in the twenty years
following 1878, the recent fall in prices
must have had some other cause.
If further evidence We're needed to
show that the discontinuance of silver
as standard money in 1873 has had no
bearing upon the depression in prices
during the past three years, nothing
more would be necessary than to point
to the fact that while wheat and cotton
and other farm products have declined
coffee has largely advanced. In 1885
silver was worth $l.05 per ounce. 1t is
now worth about b9 cents an ounce.
The price of coffee has gone up nearly
800 per cent in ten years and the price
OF silver has gone down about so per
cent
The whole truth is that in the case of
coffee the market was overstocked 10
years ago and prices gradually declined,
production became improbable and
many coffee growers abandoned the in
dustry. AS the supply was reduced and
the crops became short, the demand was
again stimulated and coffee went up
In the case of farm produce, especially
the great, staple products, the recent
fall In prices is largely accounted for
by the enormous increase of production,
not only in this country, but in other
parts of the world, and to some extent
1t is due to the general paralysis of in
dustries and business depression in the
United States following the overthrow
OF the protective system.
No more apparent is it that the exist
ing low price can not be ascribed to the
'demonetization" of silver than that
they can not be ascribed to an made
quate volume of money.
From the silver extremists and fat
money men we hear the cry that what
the country needs is more money, that
low prices have been brought by the
of money is vastly greater than it was
before silver was "demonetized. The
money in circulation July /, 1879, ag-
gregated $7s8, 003, $40, none of it silver.
The amount of money in the country to-
day is no less than 81 500, ,725 200, nearly
one-third Of it silver.
Was there any cry about lack of
currency in 1Ss9-92? Was there not
plenty of it in circulation? The stock
OF money today is no less than it was
then, The trouble is that much of it
has been driven into hiding The tariff
reform" raid of the Democratic party
has been largely responsible for driving
money out of business. The silver
standard agitation is now almost wholly
responsible for keeping it out of circula
| ton.
Following the Republican victory in
| November next restoration of conf.
dence will again give activity to a vast
volume of money, and a revival of the
industries and general employment OF
labor are likely to materially advance
prices all along the line.-Cincinnati
Timet.Star.