The Lamar register., 1896-07-11
Depressed Prices.

July ID, in which he calls attention to
prices upon several articles, beginning
with corn, from the year 1873 down to
the present time, and quotes Soetbeer,
Saurbeck and Palgraye, eminent econo-
mists. We do not propose TO enter into
any discussion, in newspaper article,
With the talented gentleman regarding
money matters, but would advise him to
study these authorities, whom he quotes
so cSnfidently, more carefully.
All the authorities, whom he quotes,
emphatically state that prices Of all com
modities. practically. are not controlled
by the quantity OF money. For the gen
tleman's benefit we will quote few lines
from Colwell's Credit System, page $50
also a very noted economist: "A prevail
ing inclination has long existed 10 estab-
lish proportion between the quantity
OF money in the world and the quantity
of all commodities, and to make that
proportion the rule ofprices- This plaus-
ible idea is very likely TO have occurred
TO such thinkers as had very little prac-
teal knowledge OF commerce"
II the gentleman will take the time TO
study up little. he will also find that
from 1850 to 1919, when We had free coin
age OF both metals, that money rose in
the remarkable ratio OF 100 TO 2i0, or by
l4o per cent. That Is, there was an sex
traordinaryn fall in prices; fall at the
ratio of 30 to 100; fall which far exceeds
that since 1878 IL the gentleman will
devote some of his time to history he will
also find that in long periods of peace in
the world, since the dawn OF history. that
the prices OF all commodities have fallen
very greatly. War has been the only
successful enhancer OF prices, in reality,
the world has ever found.
Il -. ..tr ..ts IL L.
quotes, for illustration, wheat. The
quantity OF wheat exported from Russia
in 1873 was 6,957. .l64 chetverts; in 1891
her export OF wheat had risen TO 1905
OuO chetverts. more than double as much.
India in 1873 exported 39i,0l0 hundred
weight; in 1892 it had risen 10 80, 306. 700
hundredweight, or about so times as
much. Take the Argentine Republic, IN
1873 she exported not bushel OF wheat.
She began TO export in 1876 to the extent
OF 20.s6s kilos; in 1892 her export of
wheat was 40, ,1O9,6l7 kilos, or over p, 600
times as much. Take our own country
and we find that Maryland, New York
and Pennsylvania increased from 22,272,-
COO in 1878 to 39, ,6ei 600 bushels III 1891,
or nearly so per cent. Wisconsin, Mich
igan, Illinois, Indiana, Ohio, Kentucky
and Tennessee increased during the
same time from 1l6,690.oO0 bushels to
20l, ,41s0OO or over 20 per cent. Cali
fornia, Oregon and Washington during
the same time increased from 2S.OO6'000
bushels to 6l 10000, or nearly 40 per
cent. The states OF Minnesota, Dakotas,
Iowa, Nebraska, Kansas, Missouri and
Texas increased during the same time
from IS, ,967, 900 to 269, ,s5l 900 bushels, or
more than 400 per cent. Take the mar
ket reports at this time and learn the
amount OF surplus wheat in this country,
and our only wonder is that it is worth
as much as it is. So we might go on with
product after product
The gentleman will also find by study
that there is one law that congress, par
liaments. kings and princes have often
tried to enact, or rather to control by
enactments, without avail, and that is
the law of commerce. He speaks very
serenely about average prices" III he
will procure copy of The United States
Statistical Abstract, very high author
ity, last edition 1se4) he will find the ex-
port price OF many products, for example:
1872 1882 1892
Butter. 1874 cts. I. 1876 cts. =. 100 cts
Eggs 49,. 20.2 cts. 209 cts. =. 23.2 cts
Beef 10 cts -. SO cts. -. OF cts
Corn, pork, lard and many other articles
show equal tirmness.
We take it that he intendts to restore
prices upon everything by free coinage,
so undoubtedly he expects to restore the
price of sugar, which was 12.6 cents in
1873 and only about cents in 1892, or
y a.