Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-04-22

100 ......'.-,.. f26. f5l. 900
levf .............. ........ $50. 121, 900
The average yearly production was
2.294,l07.2S3 bushels or only a trife
greater than in 1887. and the Increase
certainly did not more than meet the
demands of an increasing population.
me report of the same officer for 1853
discloses that from 1881 to 1882 the total
wheat production of the United States
was b.52b.3s0.720 bushels and the total
amount distributed for food. seed and
expectation those years was 5,54S, 500, 096
or more than was produced here. That
overproduction OF cotton is not the
cause OF the fall In its price Is con-
olusiyely shown by the following from
recent report OF the senate committee
on agriculture:
''In the case Of cotton there has been
an increasing demand. equaling the in
creasing supply. The following facts
taken from n table prepared by Mr..
Thomas Ellison of England. will show
that production has not outrun con-
sumption. In this computation 1t will
be Noted that the total supply for each
year is made up BY adding the deliver
les to mills during the year to the sur
plus remaining over from the preceding
year.
ia 1s6o-61 the total supply was $780,
900 bales. and the surplus at the end OF
the season was the amount needed to
run the American mills about fve
weeks and the European mills twelve
year 1SsO-si the supply was H.
$4,000 bales, and the surplus for
American mills was aboat four and one
half weeks and In Europe seven weeks
AT this point-August 81. 1So1-it ap-
pears that there was a less surplus
than on August 81. 1861. by about 10 per
cent In the supply for American mills
end by nearly one-haif In the supply OF
European mills. Yet the price in the
year is60-61 averaged 1903 pence for
middiing Orleans. ana the price for 1890
was only 5.06 pence.
'1n 1Sel-s2 the supply was 12,sii, 900,
and the surplus at end OF season for
American mills was seven and one
tenth weeks consumption and In l.u-
rope eleven and nine-tenths weeks. n
smaller surplus. taken together. than
In lS50-61, and the price had fallen from
1S9i-9s
In 1928 the supply was 1i.7o,. 900
bales. and surplus at end Of the year
for American mills was five weeks and
Tor European mills eleven weeks. and
the price as pence.
in is9s-9f the supply was II 100000
bales, and at the end OF the season
3lst OF August. 1894, the surplus for
American mills was about four weeks
supply and for European mills nine ard
weeks.
This utterly ovcrthrows the theory
OF oyerproduction as the cause OF tile
low prices, the surplus In America and
Europe being lees than IN 1860.
THE above comparison of supplies |
end surplus is based on the worlds pro-
duction.
IT win be seen that similar result
VIII be reached when We coniinc our
rOUlDaIlNl1iH the y American ]
alone.
I'm 1851 the American crop was g.lio,- I
900 bales. ana In 1860 IL was 4.sCi 900.
little more thnn doubled in one decade,
and yet the price In 1851 averaged 1884
cents, and in 1850 was practically the
same. being 1881.
Compare that result with the decade
lSsl-s2 10 iSal-32. In i2Sl-S2 the Ameri-
,an crop was b.455, 900. and IN the year
lsyi-9a IL was the largest ever grown.
being Q.0aS,000 an Increase IN the decade
II 60 per cent. when Il was 100 per cent
IN the decade 1851 TO 1850 and yet the
price IN 1s9l-92 was only IL cents
when in lssl-S2 II was Ills cents. de-
.reaae OF over GO per cent"
while It may be conceded that the
cost OF producing most goods haa-b
-educed since 1873, II has not caused
he remarkable fall In pricce Between
$50 and 1879 there was great decline
n cost OF ptNdufupn ullc 20 lultUloll~
II mechanical appliances. This 10
and concluAiyply shown ~
nc cxhihlt In the department Of me-
,haulcai progress at the Centennial ex-
position in 1916. and yet fyom 1850 TO
$40 the average Of all prices ross from
lG TO llS. The general efect OF the de-
lesen,ent Of silver has not been more
,iearly stated than Thus BY Professor
Andrews o. Brown university IN AN
Honest Dollar.
.The rise OF gold that "a tho fall OF
prices. mainly consequent upon the de-
OF silver in ana after
III has Lad In particular four Great