The midland journal. (Rising Sun, Md.) 1885-1947, 1896-01-17
LIVE ISSUES.
Falling Prices.

When producers are called upon Il
face continuously falling price fol
their product, such fall in price il
so much taken from what the re
turns would have been but for such
fall in price. In many instances
this produces an actual loss in place
of what otherwise would have beer
a gain. Under such conditions, the
prudent producer who has some
thing laid up for the future, if his
business be not paying, or not pay
ing enough to cover the risk, feels
called upon to decide whether he
will go forward as before, in the
hope of better prices returning
soon; or, secondly, to continue in
business upon a reduced scale and
at a reduced expense account; or,
thirdly, to retire from business al
together. Undoubtedly much the
larger number of employers will be
found amongst the second class.
The man who has been doing a
profitable bushes is quite indis-
posed to come to the conclusion that
it has permanently left him. He,
therefore, feels strongly inclined to
keep in line uuder the prompting
of a hope for better times. But if
he be a prudent person, he cannot
fail to see that the hoped for better
times may be quite slow in coming.
He must, therefore, so shape him.
self as to be in line when they do
come, or, at least, that he does not
90 under before their arrival. To
this end he is constrained to hus-
band his resources. He reduces
expenses at every available point.
He reduces his products to the low
est point consistent with his being
in shape to avail himself of the
better times when they do come.
To the extent that he may be able,
he must reduce his wage account.
Should the labor unions for a time
hold up per diem wages, he can at
least reduce the number of his en-
ployes, or not employ them at full
time. AS rule, all producers of
things for consumption are in like
case. 1t is true that by combina-
tons and the organization Of trusts,
for limited time, the prices of a
limited number of commodities may
be maintained, or even advanced,
in the face of "a general increased
purchasing power of money. But
this result can only be achieved for
any length of time by limiting the
supply of such commoditiec. That
is to say by reduced production.
This is but an attempt by a few
having the requisite financial abil-
ity to still further exploit the great
body of consumers by the monopoly
of the supply of a part of the neces-
saries of life; and the more neces-
sary, the better for the purpose.
1t need hardly be stated that such
a process can be depended ON to
bring any general relief. The great
body of producers and consumers
are thereby simply placed between
the upper and neither mill stones to
be more finely ground.
The increased and still increasing
power of money greatly facilitates
its possessors in the work of monop-
olizing the supply of a large num-
Der of the more necessary commod-
tiles. This work is now more rap
idly progressing than at any recent
period of the worlds history. For
the great majority of men, times
are growing harder and harder.
The heretofore great bulwark of
our race, the middle classes, is
melting away. A small number of
them are securing positions with
the moneyed aristocracy, but a
much larger number are falling into
the ranks of dependent employees or
swelling the number of the unem-
ployed, and ultimately to become
recruits in the growing army of
tramps. The progressive change in
the relative number in the classes
now going forward with increasing
rapidity, is one of the most appall-
ing-if not the most appalling
facts of our times. It's continuance
threatens an upheaval that will
seriously shake the very founda-
tons of the prevailing social organ
ism. 1t would seem that some of