Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-12-19
PURCHASING POWER cuRTA1LEp.

PURCHASING POWER CURTAILED.
Calamity howlers are getting to be en-
tirely too numerous and calamity howl
ing altogether too promiscuous for the
good of the country. The Philadelphia
Enquirer is one of the oldest, most con-
servative and reliable republican journals
in the whole country but of late it ap-
pears to be fast developing into genuine
calamity bowler.
The Enquirer was one of the many pa
pers that Joined in the cry that prosper
ity, permanent and universal prosperity
would follow promptly in the wake of the
defeat of the silver issue and the success
of the Sound money advocates, and is
therefore taking a very gloomy view of
the stuation very early in the game
In an editorial published in a recent
issue of the Enquirer after directing
attention to the unsatisfactory prices of
iron and steel, that paper says:
"The prices OF farm products have also
been unsettled. Foreign advices about
wheat have not been unfaVorable, and
the grain has dropped IL cents q bushel
and oats IA cents, but corn has held up.
Cotton has declined three-sixteenths of
cent pound, in spite of the showing
OF the government report, which indi-
Gated crop of 8,250,00O bales"
Continuing, the Enquirer Which as the
reader will presently observe, has de-
veloped considerable talent and tact as
calamity howler, says:
The government report of farm prices
on December 1 does not show a high de-
gree of prosperity among the farming
classes and particularly among grain
farmers. The price of wheat is given as
727 cents, against 500 cents last year;
of corn PA cents. against 1854 cents, and
of oats 1875 cents, against 1873 cents. APP
plying these prices to the estimated
| crops this year the value Of the three
principal grain crops this year and last
| s as follows:
1896. 1895.
| Wheat. :. 49,. $299, 499, 900 $237 999 900
Corn. :. >. =. :. 473. 270, 900 567 900
Total. E. :. :. 1896, 719, 900 1868 1903 600
Tho agricultural year has not been a
good one, in spite Of the fact that the
harvests have been large and the price of
wheat is q cents higher than last year.
When this fact is considered it goes far
to explain the slow recovery in business
affairs that Is so disappointing The pur-
chasing power of the greatest consuming
class in the country has been curtailed
The fact that the crop of wheat corn
and oats for 1896 is worth $72,444, 600 less
| than We're the same crops in 1895 is
brought out by the Enquirer. This, 1t
will be seen is a shrinlSage in the value
OF the three crops OF cereals, wheat, corn
and oats, of about 81 per capita of the
entire population of the United States,
Notwithstanding the fact that the short
crop Of wheat in India and other cour-
tries has raised the price of our wheat
more than 20 cents per bushel over the
price in 1895, and our crops are larger
for the yedr 1895 than in 1895. Indeed,
does the fact that shrinkage in only
three Of our products, equaling 81 per
capita of the population Of the United
States, go far to explain the slow re-
covery IN business affairs that is so
DISAPPOINTING?" AS long as "the
purchasing power of the greatest con-
suming class in the country" is thus
"curtailed" the Enquirer will be able to
find an explanation "for the slow recov-
cry in business affairs that is so DIS
APPOINTING"