The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-10-09

FALLACY EXPLODED
The Favorite Argument" Of the Gold
Standard Advocate Is RiddIed
Beyond Repair BY Cover
nor Altgeld.
FACTS VERSUS CARL SCHURz.


products Of every kind lower nj this
time than at any other in the history OF
farm productions and. yet. Is offered
the spacious argument by Republican
and other gold standard orators and
writer's that IL Is the result OF over-pro-
duction will find a very full and con-
vincing REPUTATION Of this misstatement
Of the facts in q speech delivered BY
Governor Altgeld OF Illinois last week
In his tour over the country in the in
terest OF the maintenance OF the gold
standard, Carl Schurx has attempted TO
account for the fall in prices Of all kinds
OF property by ignoring the fact Of gold
appreciation and attributing II to the
increased production Of the things which
are now so abnormally low. The Indi-
ana farmer knows that the prices OF
horses, for instance. have not been re-
duced because the foals have been abb
normally increased. or that his wheat
crop this year brings him less money az
the mill than it did last year because he
has raised more TO the acre or had sown
greater number of acres. thus increas-
ing his product But when the Repub-
hcan or the gold standard orator. which
is practically the same person. tells hun
that the crop Of the world has been in
creased and this increase controls the
home market, he has no figures with
which to meet the statement aud.
though he may question II. ne l. put az
q disadvantage in the argument. Gov
ernor Altgeld has supplied the figures
and in a powerful speech has shown
that there is not only no over production
in this country or in the world. but that
the production is less than for several
years and that the population. the con-
summing element. Ii constantly increas-
ing. Answering Mr.. Schurz ON the
question Of farm products. the governor
said:
The Price of wheat
"Iu attempting TO account for the fall
In price Of property. Mr.. Schurx selects
wheat as an illustration. and he attempts
70 show that there has been great in
crease in the annual production Of wheat;
that we have not only opened the whole
northwest. which is producing wheat.
but that our farmers have to compete
with the wheat Of India. Argentine Re-
public and OF Russia. and he assumes
that therefore the price OF wheat had TO
fall There are three things to be said
IN answer 20 this First. the increase in
production does not produce a fall In
price. provided there isan equal increase
In consumption This IL self evident.
and Mr.. Giffen. the statistician OF the
Ri fish board OF trade. has on differentoc-
casions poi nted out that for more than Is
years PRIOR to 1873 the increasein the pro-
ducsion Of nearly all commodities In the
world had been greater on the average.
wear by year, than the increase has been
in any year since 1878. and yet. a. he
ssvs, during an Of those years prior TO
1878 prices kept constantly nsing. not
withdrawing the enormously increased
production. while since 1873 prices have
been steadily falling. Notwithstanding
the fact that the increase was not a.
great a. IL formerly Was.
The second observation Is that wheat
has not fallen in price any more than al
other commodities. Ii has fallen no more
than all property has fallen; has fallen nc
more than wages. Il Is not contended
that Russia. India and the Argentina
Republic have entered into competition
lin the production of all other product
which our people put upon the market
.sTkss two points show that Mr.
Schurz is entirely wrong In his theories
The third observation Is that he IL en-
Itirely wrong In his facts.
THE truth is that there has beeI
scarcely any Improvement in machiner,
for raising and harvesting wheat in tn
last 20 years. and the statistics show tina
there has been very little increase In tn
Iproduction Of wheat in the United State
lin that time. More il raised in tn
northwest, il is true. but very much LEI
lis raised in the central and easter
, states. l have endeavored 10 get tn
most reliable data on this question fros
the reports Of the various boards
trade and the government report
which are recognized n the highest ~
thority obtainable ON this subject IN
government reports show that the whes
crop for 1878 was more that 42O. .Os
bushels. and that for the year 1885 q
crop does not exceed 400. 900, 900 bushel
In fact, IL the increase in population
considered. the wheat crop has constan
lily grown less in proportion to the col
n Stunning population ever since 1873. IL
wheat crop this year Is about SO. 200 o
bushels short Of the average since is7
% and 10 a0. 10000 less than what II W
= that year. SO that in spite Of the ope
- ing Of the new fields in the northwe
a there has been no greatly increased pr
a duction Of wheat In this country. ~
Re. when compared with the consumiI
d population there has been an artu
t., falling OF. yet 20 years ago the price
wheat was more than twice what IL
~ now.
y. again. in referring TO the foreil
wheat. he endeavors To make the il
preston that there has been = great
! grease in production. and srtfully sele'
. recent year Of the highest product
and compares that with an earlier ~
Z. having the low est production The 9
n that the worlds wheat crop has
-, M msined substantially the same for