The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-07-24
MORE BASIC FACTS.

Continuing from yesterday the citation
OF facts bearing fundamentally on the free
silver discussion, We come to the matter
OF prices, and-again using the language Of
the Pittsburg Dispatch-assert (what The
Tribune has several times proved that
the reduction of prices which has been
distinctive of the last two decades has in
every marked case been due to special
causes entirely outside of the influence of
coinage. Leading examples among them
are:
The invention of new machinery and
methods which permit the same labor to
produce from two to six times as much
as formerly.
The reduction in cost of transportation,
by which prices are lowered in the ship
ping markets, without u corresponding
decline at the points of production. En-
amples of this are. that wheat on the
farms of Kansas. Nebraska and Iowa was
shown by the census of 1870 to range from
i5 cents TO IS cents in gold value, ana that
of the decline in the value of wheat in
New York. just l9 cents per bushel is the
decline in freight rates between Chicago
and New York alone.
The immense multiplication in produc-
tion and the addition of new fields of pro-
duction of the staples affected in other
parts of the world.
The favorite assertion of the silverites
that silver will purchase as much Of
every thing now as ii did in 1873 has been
shown to be an utter and complete error.
1t will not even purchase as much wheat
on the farms of Kansas and Nebraska as
II would then. 1t will not purchase as
much corn. pork, coal, leather, coffee.
eggs or cheese. out of thirty-eight arti-
cles quoted in the statistical abstract Of
INIT rod ba inl tbara
are only seven in which the percentage Of
decline has been as get or greater than
that of silver. OF the 232 articles covered
In the inquiry of the .Aldrch special sem
ate committee. silver fell over % per cent,
while the remaining 2Sl articles dropped
in price on an average only about per
cent. While decline I'm prices due to i'm
provement, concurrently with the ad-
vance in wages and the increase in mater
ial wealth.. is the leading characteristic
of the alleged twenty years of demonetiza,
ton from 1873 to 1893. the three years since
the latter date have shown prostration
and the decline OF both prices and wages
due to tariff tinkering, and the disturb
ance of credit due to the free silver
threat Three years Of disturbed credit
nave done more injury than twenty years
Of the gold basis. The decline in farm
prices since 1892 has averaged 10 per cent,
as against less than 10 per cent. prior to
1892, thus showing that tariff tinkerng, and
not free trade. is at the bottom of the
trouble so far as agriculture is concerned.
With regard to the assertion THAT the
increase of the standard has increased
the amount that the debtor must pay, and
that the injury to prosperity has increased
the total of debts. the facts are:
]. That the total Of recorded public debt
decreased between 1870 and 1890, from 49,
275, 600 600 to 81 800 900. 900. That the amount
OF corporate and business debt on which
there are statistics for comparison in
creased from s2.SsO.oOO, 900 to IS. l6O, ,OOO, 900
In other words. the debt which represent
ed wasted wealth was paid off; while the
debt which represents the investment in
the production of more wealth has en-
larged.
g That the calculation OF the census
bureau of total of debt of $4,000. OOO, 900
for 1890 indicates a total Of 10000. coo 900
for the same debt In 1870
g. That therefore the increase of debt
for the two decades was not quite one
quarter the total increase of wealth.
4. That the utmost possible founda-
ton for the assertion that debts have been
increased by the advance in the purchas-
ing power of gold permits an allowance
of an increase of two-thrds of one per
cent. annually: while the gain to debtors
i'm the decreased rate OF interest from high
public credit and stable basis of values
has been from . to per cent. annually.
Incidental to the general subject of the
alleged debts of the nation. and the lack
of prosperity. two favorite assertions OF
the free silver men have been examined.
!. The declaration that this country
owes 5000. coo 0U0 in securities held abroad.
and has to ship 5000, 100000 Of gold abroad
annually to pay the interest OH them. has
been shown TO be a complete figment Of
the imagination by the fact that for nine
teen .ears prior to 1898 the net gold move
ment was about Sc.000.000 in favor of the
United states. or. from 1878 to 1892. sl0l,-
56S.3l0 In our favor. the great outflow Of
gold, amounting in four years Qs92-96) to
nearly 5000. .0Oo, 600. having occurred during
the Democratic era of tariff jugglery; and
that during the same time the United
States exported a balance of merchandise
rhich by statistical calculation reduced
the 1900, CO., coo of securities held abroad
in 1876 to between $500 900, 900 and 81. .0O0 00O.
coo.
2. The assertion that the period of de-
nronetization has fallen with especial
hardship on the western agricultural and
mining states Is disproved by the census
statistics. showing that while the aver
age per capita wealth in the United States
Increased from s7s9 in 1870 to Si.036 in 1890
the least Increase In any of th-se states
was IN Minnesota, from sG6e to 81, ,Os1. while
In the others II goes inuc.i higher to a
nis ximum In Montana from s7S7 TO $3,427
With regard to the proposition to reduce