Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1896-08-27

this is three times as fast as the COM
merce Of the world has increased, and
thirty times as fast as the population.
How great a factor this has been we can
judge by the further fact revealed to us by
Muihall, that at present the actual cash
money--paper. gold and silver-occupics
u place of only 4 per cent of the total
volume of transactions: the balance. o6
per cent, being carried on without the dis
placement of any cash money at all.
Another significant fact in this connection
is the report of the director of the United
states mint, that We use six times as
much gold In our foreign commerce than
we used In all our domestic commerce
and arts combined. Just think of It,
Our internal commerce is more than
twenty times as great as our foreign
commerce, and we use only one-sixth MS
much gold in lis transaction, including
all the gold used in the arts.
And yet even in international com
inerce the demand for gold has decreased
enormously. Take MuIhalrs statistics
of the commerce of the four principal com
mercial nations of the earth: Great
Britain, France, United States and India,
for the two periods from 1860 to 1864,
and 1886 to 1900.
From 1860 to 1864, the movement of
merchandise in the foreign commerce of
these nations was S1S.56S, 736,213, and it
took in specie S3.143,656,271 to move this
merchandise. 1t took therefore displace-
ment of S17 In specie to every 500 of
merchandise moved.
Now from 1856 to 1890 the movement
Of merchandise was $36, 204, 527 ,S3J, and
the displacement of specie to move it
S2.711 334, 1888, or displacement of 81 so
OF specie TO every 800 of merchandise.
We are thus confronted by the astound-
ing fact that though the commerce of
these nations had increased by the enor-
nous sum of S17,635, T9l.172, it actually
took $40, 321 ,4SS less specie to handle It.
In other words, the pressure of demand
upon gold even in international com
merce was less than one-half as great as
| it was in 1853. In the face of these
facts can anybody, without the most I'M
blnshing disregard of truth assert that
the pressure of demand upon gold has
increased?
But. say the silver men. prices have
gone down since 1873 This is their
great hobby, and they dwell on it. They
| say that country must have high prices
TO be prosperous, and they propose to re-
establish high prices by making 50 cents
dollar, SO that when we sell something
for Sl.00 on the new basis. though in
reality we will only get 80 cents the same
as now, our feelings will not be so badly
hurt because the name will have been
changed. am six feet tall; suppose a
new law should make six inches a foot
then under the new measurement would
be twelve feet tall. Would that actually
/ inrrnuS t0hf ;as u a.
that has been shortened? This reminds
me of Mark Twain's joke about the Port,l.
guese money where the unit of value, the
refs, is so small that it takes about 1O. OOC
refs to pay for dinner But let us So,
about the decline of prices The silver
men assert that prices have gone down
and that therefore they in the most simple
way prove that gold has gone up. The,
conveniently forget the thousand and
one factors that enter into decline il
prices. They forget the laws of suppl,
and demand. That we cannot expect t.
get as high price for our cotton wher
we raise crop of almost 10000, 900 bale.
IN lS04 as when we raised only 2,974,35
bales in 1877, or for our wheat when w,
raise AGO, 267 ,416 bushels in 1894 MS wher
we raised only 249, 997, 100 bushels il
lSf2. They conveniently forget the enor
nous decrease in the cost of production
OF our manufactured products, due to tn,
invention aud use of labor-saying ma
chincry, the utilization of by-products
and the decrease in the cost of transpor
tati0n. have lately read some statistic,
compiled by Edward Atkinson, the stats
tician, covering some 200 articles in com
mon use, and he has shown that in ever,
instance where decline in price has oc
Cured 1t has been more than offset by ,
decrease in the cost of production. Every
body knows that when decrease in iii,
cost of production of an article take.
place the law of competition will ineyita
bly, force the price down.
But the silver men cannot even sustai,
their favorite contention, because tn,
facts are against them. The prices of nj
things have not gone down. Many thing
are higher now than they were before sill
yer was demonetzed. Their favorite or,
IL about the wages of labor; the contrac
ton of the gold standard has caused tn,
wages of the laborer to decline, and the,
are going to raise his wages by pawn.
MN three ffty-cent dollars day instea,
| OF the three one-hundred-cent dollars ,
day he gets now. Let lis see about thes,
wages Take the United States censu
flgnres of 1850, thirteen years befor,
silver was demunctizcd. and those o
lS9o, seventeen years after. This is ,
fair test If gold has enhanced in value
it ought to show itself in that time.
Annual wages paid in the factories o
the United States
Il ~ Employees Wages Paid. Capiti
1850. ......1 81 2i6 37S S7S o66 SOC
1871. ......47ll,S32 2,2S2, S23, 2b5 AS
Increase in the average wages no
capita % per cent almost double.
Decrease in the purchasing power o
gold, as far as wages are concerned. ~
t per cent. The gold dollar only Dough
about one-half the labor in 1890 that
{ would in 1850. Not only that, but TN
lahorer got more than twice as many gol,
dollars for the same amount of work
because the hours of labor in many place
have been shortened from twelve and ter
to eight hours a day.
Now what does the census say abou
farm lands?
eros. Value A Fsr X XsI,
1850. 6,645. 100000 Sl6.o
lo'o..'''.......... 3,27900O,0O0 2l,3
Increase in the average value per acr
OF farm lands about SO per cent.
Take live stock:
,ooo Gross Value. Heat
i ioto' '.'''.''..... Isl ,Os9 100000 Sl22
ooo''''''.''....'... 2,4l9OOO,OO0 lag
: Increase in the average value Der bea
20 per cent. -