Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1896-06-04

articics. .lS.oo u.s. q
Dividing the above table into two equal
parts. We observe that the prices OF the nrst
four (which are chiefly food products) We're
marvclously sustained and oven advanced.
while the prices OF the second four fin the pro
duction Of which labor saving machinery are
largely used show a marked fall.
The Soetbeer tables evidently do not war
rant tho statement so often made, with them
as alleged authority, that there has been a
general fall in prices, IL by that expression is
meant that ell articles or groups Of articles
have fallen largely ard in a measure equally.
Prices Not Governed by Volume OF Money.
It is accepted as automatic by many that the
volume of money in a country governs prices
there, and, at first glance, this seems reason
able. But even Il little study Of the subject
shows that such 81 view is untenable.
In 1900. when we had u period Of high prices.
our volume of money in circulation was S26.
5O,COO. As our population was then 5,SJS,453
we had only $4.a9 per capita. In 1877, when
prices were much lower, we bad money in cir
%culation amounting % $l0.59, or more thar
twice a. much proportionally Is IL lS00.
In 1865, when we had inflated war prices.
the volume of money In circulation amounted
TO 5000 per capita, while in 1894, when aver
age prices were much lower, the money IN cir
culation was $24. % per capita.
The total volume OF money in circulation in
France today amounts TO $751; while that OF
her neighbor, Switzerland, is only s9.97 per
capita. Does any one believe that the prices
IN France are four times as high as In Swift
of comparison. France has So. 10 per capita.
while Greece has only % cents per capita.
Does any one believe that prices in France are
a hundred times as high as III Greecef As a
matter OF fact, they ere almost identical.
Tooke. in his monumental work on the His
tory OF Prices. truthfrlly sums the matter up
as follows:
''There IL not. as far as | have been able 10
discover, any single commodity in the whole
range of articles embraced In the most extern
sive list of prices. the variations of which do
not admit OF being distinctly accounted for by
circumstance peculiar TO il. 49, Circum
stances do frequently operate with such force
- - nInnaA .Nraaaa ~ fIA Fn.n - ~. 49,
ing currency and 70 advance prices when the
currency Is diminishing In point of fact, the
expansion IS frequently rather an effect than
q cause OF enhanced prices.
Prices That DO Not Need "Restoring."
The United States Statistical Abstract de.
servedly ranks high rs an authority. Opening
the latest edition (lsvI) at page 4l7, l find the
export price of mess beef quoted at Z cents i'm
1872. at 80 cents III 1882, and 81 cents in 1892.
Butter in 1872 is given at 1914 cents, in 1852 at
1876 cents, and in 1892 at 10 cents. Prices OF eggs
for the same dates are 20.3 cents in 1872, 200
cents in lSS2, and 2.2cents in 1892. Other great
staples, like corn. pork and lard, show equal
frmness. The prices OF these articles don't
seem to need any restoring"
But perhaps the free silver men would like
TO apply their "restorer' 20 the price of re-
lined sugar, which cost 1915 cents "a pound In
1872 and only 46 cents in 1892. Or perhaps they
would like 70 relieve the poor, suffering oil
magnates, whose product was quoted at 30
cents 2 gallon in 1872 and had fallen" to so
pathies go out 10 the manufacturers of bar
iron. whose product commanded SO. SO a ton
In 1872 and only $50. 96 in 1894.
Perhaps they don't want poor men To be
~squandering their substance in building homes,
and to that end would restore the price" OF
nails, whose Philadelphia price fell from $o.46
a keg in 1872 10 ST. Us in 1894, and of window
glass, which fell from So ~ a box in 1873 TO
sl.70 In. 1891. And possibly their philosophic
souls rebel at the idea OF a poor man having a
carpet on his floor. so they would remove
temptation by restoring the price, from as
cents u yard In 1890 To sl.l4. as IL was In 1873.
Then. II the poor fellow In whose interest they
are working Is not completely happy, they
might restore the price OF his wife's calico
10 wis In 1879.
And while they are In the restoring business