Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-08-04
Business and Prices.

Business and Prices.
wheat is Z cents bushel, or 13
per cent lower than the same time
last year, and the government report
indicates q decrease Off per cent in
the yield. The re- is an indicated harvest
of 2, 154 100000 bushels of corn, which
is fraction of one per cent more
than last years's but the price in this
market to-day is just one-third less
than it was year ago, Oats with less
OF yield last year, but the price of
these also Is third lower The val
ue OF this years yield of these three
cerials estimated at present prices in
the market, would be $435, 900, 900 less
than II they could be sold at the
prices current year ago. There is
every prospect of very satisfactory
harvests, but prices are certainly very
iow.n
The foregoing extract is not the ut
terance of silver fanatic" lamar
chist' or "demagogue, but it is taken
from an editorial in the New York
Herald, an ardent advocate of sound
money" How can there be any re-
vival of business if the farmers of this
country ore 1886, 100000 worse off
than they were year ago? 1t means
purchasing power decreased by the
foregoing amount, and without q
market factories will be slow to start
and merchants unwilling to buy.
| Confidence is undoubtedly a good
thing to have in the business world,
but until it can be given an exchange
value as reviver of prosperity is GER
tainly at discount.
The Census of 1880, CHASING urban
population Us all living in cities of
over 1000, showed it to be 30. 90 per
cent. Making allowance for popula-
ton in towns or cities of less than
1000 engaged in or dependent upon
mercantile or professional pursuits, it
Is safe assumption SO per cent of
the population are directly dependent
on agriculture for their living, SO
here we have the purchasing and
debt-paying power of one-half the
people 1886, 0O0 900 less than one short
year ago.
If some great cataclysm of nature
should destroy such an amount of
property the civilized world would
stand aehast; yet if practically the
same thing is done through the
|agency of vicious wrong and unscien-
titic legislation, plenty of ardent sup
porting of the false system can be
found.
The amazing part of the gold adj
vocates's side is it's utter lack of
promise for the future. Shrinking
values and falling prices are facts adj
mitted by all, yet in some strange
and paradoxical manner continue
ton of the gold standard is going to
cure the evils of which it is the cause.
The gold-bug never tells what is GO
ing to happen if his experiment is to
continue, but always stands ready TO
warn the country against the, to him
terrible consequences of bimetallism.
The stock argument used to the
laboring men and the wage earners
against free silver is that it cannot
do him any good, as prices will rise
and his wages will remain the same.
Getting the goldite to admit that
free coinage will raise prices is
distinct triumph, for not long ago
the idea was secuted by him as
J absurd. If by an increase in prices
of the three cereals referred to in the
quotation they would sell for $780,
100000 more in 1896 than in 1895,
there would be a marked improve
ment in all lines of business. The
; money would be applied in making
:. purchases of articles long needed.
and to supply the demand so created
; would force $500 factories, with an
) average annual production of $780,
! 900 worth of goods (retail value), to
J. run full time for twelve months. Can
J there be any doubt that wages would
rise rapidly under such circum-
stances? There is no theory is this;
it is plain, simple business propo-
! sition, that even the blindest goldite
should be able to understand. Tie
[ cry of "cheap money!" national dis
honor" "50-cent dollar" will doubt
J less deceive the unthinking and un-
informed, but in the light of the fore
going it would seem that the disgrace
! will be the producers if by their votes
: they declare for "a maintenance of
the present gold standard. Farm,
Stock and Home.