The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-08-01

page 400) from 81. obs pound In 1864 to
less than IL cents in 1871? Do they not
possess adequate information on vital
points? Or are they willfully suppressing
portion OF the truth, having lively
appreciation of the fact that this simple
| statement would be sufficient to overturn
| their entire contention?
And now, Mr.. Chairman, having
| shown BY my colleagues own figures
'at the fall in prices about which he
and other free-silverites say SO much is
not the only one, or even the great one
OF this century; tha5 it did not begin In
1873, and hence is not due to the cause to
W ieb they ascribe it; and that fires :
.ar' having demonstrated in the past its
incoinpetenov to Affect prices (even if
that had been shown to be desira hle),
can not reasonably be expected to affect
them in the future-thess things having
been proved Mr.. Chairman. our side could
fairly rest our case and demand the
Judgment of all candid men.
But, Mr.. Chairman. men are often
mlsled by non essentials. If the other
alleged arguments of my colleague
were to be passed by the reason for ST.
lence might be misunderstood. More |
over. they constitute part of the
ground of my colleagues faith. And,
sir, | have SO high regard for my friend
personally, so much admiration for his
native ability, and SO bright hope for
the future that is before him if he re-
nounces what he himself is reported to
have called In the last campaign ''this
free silver lunaoy" that / shall, with
the indulgence of the committee, proceed
now to examine the other items of my
colleagues speech.
THE TALLACY OF THE METHOD
OF ARGUMENT BY AVERAGES"
A 70 ia IF 4ho
the other side of this controversy is to
draw exclusions from tables of average
prices Most of the rank and file do
this in entire good faith, never dreaming
Of the fallaoies that lie unrevealed by the
very nature Of the method itself. But
the leaders (who have the time, and are
presumed to have the talent, to investi-
gate all important phases of the ques-
ton to Hnality) owe 1t to the conf
denoe which their followers repose in
thom to seek earnestly and report honest
~ the whole truth, so far as human ken
is able to discover IL.
The real estate boomers of a certain
State (not minnesota used to announce in
their circulars to prospective immigrants
that the leverage annual rainfall'' was
so many incheS--a normal fall. The set
tier who went there on the strength of
that statement found that, while it was
literally true, it was totally misleading.
The average annual rainfall'' was in
deed as stated but the rain all came in
a deluge within the period of few
weeks, and during the rest of the year
the country was so dry that the crops
parched ard persisted, and not even a
warranty deed would hold the land it.
slf.
lhe very IDEA Of an average implies
I l., 81
hides their nature and extent
In order to get at some of the facts con-
cealed by the so frequently quoted tables
Of average prices, invite attention now
to few charts showing graphically the
| prices year by year of a number of indi-
vidual articles. Even an ANALYSIS into
groups of articles will enable us to avoid
| some ofthe errors incident to general
average table.
| These charts have been carefully pre-
| pared under my own supervision from
| the famous tables of DR.. Adolph Saet-
beer, the great German statistician, than
whom there Is no higher authority. BY
the way, / wonder how many of the free
| silver men who so often and so glibly
quote statements alleged to be founded
on the Soetbeer tables ever even saw
| those tables. Probably not one in ten
| thousand! Here ara the famous tables
| themselves (holding up Il book). They
are given in the Consular Report for De-
oembor, 1887. feel abundantly repaid
for the solid month that l spent last
summer in careful and painstaklng
study of them.
WHAT, SOETBEER'S TABLES SHOW
| AS TO CERTAIN IMPORTANT AR
TICLES.
These tables nro based on tho prices of