The Maryville times. (Maryville, Tenn.) 1884-1944, 1896-08-13

articles .............,..........1U .55 1U3s2S
Dividing the above table into two equal
parts, we observe that the prices of the first
four (which are chiefly food productsD We're
marvelously sustained and even advanced
while the prices of the second four lin the pro
duction Of which labor saving machinery are
largely used) show a marked fall
The Soetbeer tables evidently do not war
rant the statement so often made, with them
as alleged authority, that "there has been
general fall In prices, " II by that expression is
meant that oil articles or groups Of articles
have fallen largely and In measure equally
Prices Not Governed by Volume OF Money.
1t is accepted as axiomatic by many that the
volume OF money in a country governs prices
there. and, at first glance, this seems reason
able. But even little study Of the subject
shows that such view is untenable.
In 1905, when we Ind period of high prices,
our volume Of money in circulation was &c.,.
100000. As our population was then 5,5Os, 1873
we had only $3.50 per capita. In lS47, when
prices were much lower, we had money in cir
culation amounting to Sl0.59, or more than
twice as much proportionally as in 1900.
In 1865 when we had inflated war prices.
the volume OF money IN circulation amounted
to s2057 per capita, while in 1894. when aver.
age prices were much lower, the money in cir
culation was LIS per capita.
The total volume of money in circulation in
France today amounts to S35.T, 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
zerland? Taking gold money as the basis
Of comparison. France has s22. 10 per capita,
while Greece has only % cents per capita.
Does any one believe that prices in France are
hundred times as high as in GreeceY AS O
matter OF fact. they are almost identical,
Tooke. in his monumental work on the His.
tory Of Prices, truthfully sums the matter up
as follows:
'sThere is not. as far as have been able to
discover, any single commodity in tho whole
range of articles embraced in the most extern
IL. AeE rfoAt .f fsat. S
not admit Of being distinctly accounted for by
circumstances peculiar to 1t. - = Circum-
stances do frequently operate with such force
as to reduce prices in the face of an expand
ing currency and to 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 "RestorinS."
The United States Statistical Abstract do
servedly ranks high as an authority. Opening
the latest edition 1891 at pnge All, find the
export price of mess beef quoted at cents in
1872, at $40 cents in 1882, and 81 cents in 1892
Butter in 1872 Is given at l04 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, 700
cents in 1882, and 1872 cents In 1892. Other great
staples. like corn. pork and lard, show equal
firmness. The prices of these articles don't
seem to need any "restoring."
But perhaps the free silver men would like
to apply their s'restorer" to the price of re-
fined sugar, which cost 1875 cents pound in
1872 and only 46 cents in 1892. Or perhaps they
would like to relieve the poor, suffering oil
magnates, whose product was quoted at 2S5
cents gallon in 1872 and had ''fallen' to SO
cents in 1892 1t may be that their tender SYM
pathies 60 out to the manufacturers of bar
Iron, whose product commanded $T.6S ton
in 1872 and only s29 % in 1894.
Perhaps they don't want poor men to be
squandering their substance in building homes,
and to that ond would '.restore the price" Of
nails, whose Philadelphia price fell from s5.4d
keg in 1872 to sl.08 in 1894, and Of window
glass, which fell from $40 box in 1878 to
si.70 in 1891. And possibly their philosophic
souls rebel at the idea OF poor man having a
carpet on his floor so they would remove
temptation by ''restoring the price" from IS
cents yard In 1880 to si.i4. as il was in 1873.
Then. If the poor fellow In whose interest they
are working is not completely happy, they
might restore the price of his wife's cah,c
dress from cents yard in 1872 TO iecents, 9
it was in 1873
And while they are in the restoring busines
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