The times. [volume] (Richmond, Va.) 1890-1903, 1896-10-07

figures. Whilst 1 was ready 10 behe'e
tlat there was Il CJasla, is Die diiieieA~e
In the value OF these three crops "heh
calculated on the basis OF ,S,5 prices ana
present prices. 1 did not think TINS diuer-
encc amounted 10 anything like the Il
urc5 named. This 1 find u lo the ftct.
The 1917 crop OF wheat IN Nirginlt, it
Is said. would have realized Sl2.sJi,'W na1
II been sold at 1913 IiiCes. what Is lhe
faciy The 1880 crop OF heat Ia virginia
is given by tns Government stdtisuci'h
NJ 3,5li.vJ bushels rne average price OF
wheat in 1913 Is given ~ tive same sta-
tistician as 5llJ. The crops at TINS price
would have rcslizcd S6.i55,loJ or JUST
about one-nalf tic vaIue gwen Dy ths
Dispatch. TO have realized Sl-'5pi'lp ths
crop would have had TO have soii iof
So per bushci. a price which as never
ieen realized since The war. The Nigh
est price realized Tor the last thirty years
WAS ia ls15. when the average prics l'r
the year was y2.i9. What are we TO tn',iN
IF "a journal which can SO FAR mist me
facts rs to nearly double the Naluc 81
one crop in order 10 bolster up an ar-
gdmcnt against on opponent
In like manner the value OF the corn
and oat crops are also oyer-estima'e. l.
From the Government figures ! make me
value OF the CCin crop of Virginia OF -o'p
if sold at 1873 prices $lllZZ'2"' lhs'eau
Of SIS 2i6O00. The oat crop Of virginia
1890 sold az 1879 prices | make >-'f'''I'p'
instead Of 5000 80 Inc total error N
the calculation o. the value OF the three
crops l mako SIJ5.l0c. rather serious
error In a total Of ;3i.l6l.No. ana one
which materially affects the deductions 10
Doe drawn from the argument II sofa AT
1896 prices / make the 1870 crop worth fl5'-
uG9 $50 The reduced value as compared
with 1873 prices being thus sl57i''s'o' IN
stead Of 81 100000 This reduced value We
are told is the consequence OF the IMAM
cial policy advocated by the Soind-Aloney
party. is this so? Has supply and de-
mand for the crops nothing 10 DO with
10 Let us look for Il moment at inc
figures bearing on this. In lH'3 me yield
fin this country OF the three crops nii'cl
WAS l.iS367S. 700 bushels. I'm 1879 the yea
OF these three crops were LEO y
bushels an increase of l,sJs, so0'5'i bushels.
Coincidcntally with this enormous IN
crease I'm this cou lt-y. India, Rus iii, ana
the Argentine producer a sretuy IN
creased yield of wheat: indeed. II may DE
SAID that two u thos" countries 'a're
into existence as wheat-proii"nr @pu'-
tries. and last year ai1ne put On the III
ropcan market about - wlpp hrshr's 81
wheat against none produced DID 1888.
This equalied I'm amount the quantity OF
wheat this country exported 10 europe
Ter year between 1873 and 1871.
With these facts before u.s. rs 10 10 be
wondered at that prices fen between $50
| and I.s,t -tltA-r is II not 20 Dee wondered
M that they did not fall still lower
| With such production IT would nave
! nattcred not what system OF currency
! had been ia existence prices must nave
! falien. and had ID not been for inc eNis-
/ tencc Of the stable gold standard I'D TINS
| country and England. which gave 10 Inc
| WORKING classes of those countries "a cur
| rency with "a higher PURCHASING value
! than would have been possible with any
| other standard the price would nave ial-
| len still lower as they could have afforded
10 buy the -four the corn. and the oats
/ ii such quantity as 20 have maintained
! even the lowest prices which these sta
! pies have ever touched in the last few
! years. The fallacy that gold standard
| is au auprociating one is clearly demon
! strated by the fact that labor the great
| est item in the costly production or ai
| The ncce-saries ana comforts OF Ito
has advanced something like - per cent
within the last twenty-five years. Had
| gold appreciated this factor would have
! dcprociatcd instead OF advancing- TX
ccssiyo production. cheap transportation
| and facilities Of exchange and not APP
| probation Of gold are the causes why th'
value of the staples Of life have falleI
and no change 10 silver basis can alter
this. Silver is depreciating in value from
day 10 day. and yet cotton and whea
are advancing m price. Why? The SUP
ply Of one is I'm excess Of the demand
whilst short crops OF the others are
| recognized as certain facts. You canno
bv legislation alter operation OF these ma
fional laws. unless You can succeed j
doing what an enthusiastic supporter o
! Mr.. Bryan claimed TO me Mr. Bryan
would do abolish the law Of supply
and demand
7. T. JACKSON.
Richmond. Va. October 6. '6.