The times. [volume] (Richmond, Va.) 1890-1903, 1896-10-07

NIECINIA'> LOSS.
One Of the leading editorials in last
e,rdav,s Dispatch was entitled virgin
las Loss" 1t began with an attempt
TO ridicule Governor OFcTail. that gal
liant veteran and true Democrat the
chief Executive of the State, who as
o. man as well as am officer, is entitled
- The respect OF an our citizens.
The article then continued:
II 1872 when silver was demoneuzed'
the following quotations ruled III NC
richmond market. Wheat sl.'V, co'h' ~
cents. oats. 55 cents. -
Iu 1896. after twenty-thIee yours %
steady decline. the quotations are. Nhtal'
=, cuts. corn 90 cents; oats 10 cents.
How much have the farmers OF ms
STATE of Virginia alone lost by this de-
cline?
INC census report Of 1890 shows the fol-
lowing yield OF grain IN THIS stare.
wheat 1881. 900 bushels: corn, 2bVO'olV
bushels. oats. 5,472.O0O bushels. We give
n table showing what the farmers Of Viz
rinia received for their crops under the
prices of 1873 and the prices Of lsso.
1873 1896.
Wheat .................Sl2.s)7 A*4.l'O
oats OBSERVATION-DISCLOSURES. o'ploi'0 l'V''''V
Ssi1Gi.7lo $3Sl975O
difference OF about S20OWO90 in the
annual value of only three products OF
the virginia farmer, The process has
been ever downward. and between 1880
and 1896 the values fell, in round NUM-
bors. over S7O0oo00 In short. the basis
Of taxation in Virginia is gradually and
1..ff do. 4 nv n. fuH
prices and if 20 t. continued tho revenue
for the support OF the public schools,
like every other. viii be cut down.
Figures are very imposing and when
one undertakes to handle them he ought
TO be accurate. We have not investigated
thc prices quoted for 1873. but the writer
Of this article has taken the lowest cur
rent October. 1880 quotations for corn
and oats. and quotes wheat at c. cents,
when on the very next page Of the Dis
patch IL was shown to be selling in Rich
mona for % cents. and is known to have
sold I'm the New York market ut 20 cents
last week.
How can the comparative values of the
crops of 1873 and 1896 be determined by
Dispatch take the crops of 1873 and 1896
and deal with facts as they actually are?
Ut mbst not Doe forgotten that the dollar
Of 1913 was paper worth only SO cents.
ana those values must be scaled accord
indy. But the advocates of free silver
say that our present gold dollar is a
20O-cent dollar: and II that De so We
must double the value Of the crops of
1896.
This would give a much fairor COM
parison than that made in the Dispatch.
but the whole method is worthless as an
argument on the financial situation. OBJ
serve the fallacy:
Wheat was $40 in 1873 before silver
was "dcmonetized."
Wheat is only g. cents in 1896 after
the Recommendation" of silver.
Hence. the decentralization" Of silver
in 1873 makes wheat sell for 50 cents in
1896.
In other words. Post hoe propter hoe
Yet. before the writing had well dried
in the editorial room. and before the
printer could set in type the lucubrations
OF his learned master wheat jumps from
O. TO % cents regardless Of the "crime of
lSl3." and the theories of the theorists
arc shown TO be worthless chan. More
over. If the "crme of lS5S' has caused
wheat 20 fall % cents on the bushel, why
have not corn and oats and all other
products fallen in exact proportion?
ought they not all TO fan alike. under
one and the same cause? But We know
that they have not fallen alike. Why is
| this? Because they are governed by the
great law Of supply and demand and are
rot controlled by an act Of legislation
passed twcnty-three years ago.
Virginia now has TO compete with the
great West more actively than ever Look
at the reduction in freight rates. and
you will understand one cause of the
reduced prices we get for our grain.
The rates per bushel Of grain from
Chicago 20 New York were:
1S12-water. q IA cents: all rail. 80 i-2
lS9J-water. 4 is cents; ali rail- Il IA
That is to say. the farmers OF the West,
working prairie lands with improved
machinery and without the use of fer
tilizers. can deliver their grain for nearly
p cents less per bushel than they could
II 1873. Add p Ia cents per bushel TO the
price Of all our grain. and see what a
difference II would make,
But the farmers Of the West now have
10 compete with Argentina. Russia and
India to an extent that was not dreamt
OF IN 1873. These causes account for the
falling prices OF grain But is Virginia
worse of in 1896 than she was in 1873?
We wish all the farmers would study
these figures. which have been taken