Evening star., 1896-08-26
Mr.. BUTLER is SKEPTlCAL
Dees Not Believe Cotton Prices Will Influence
Votes.
He DiscOurses Upon the Law of Supply
and Demand With Reference
to Present Conditions.

Senator Marion Butler does not believe
the republicans will be able to give the
south an object lesson on the causes for
f1uctuau auons in the prices of products
should the price of cotton reach high
water mark this fall on account of the ex-
tensive drought that has prevailed through
several of the southern states, thus cur
failing the product Of cotton and increasing
its price. He was asked today whether he
had read the article in The Star of yes
terday regarding the increase i'll the price
Of cotton and the influence it might have
on election day.
YES he replied, Il did read it. I'm
questionably the law of supply and de-
mand. other things being equal. will con-
troll largely the price of cotton well
the price of everything else. BY other
things being equal, Of course, | mean under
normal conditions and with the volume of
money also controlled by the law of supply
and demand. The law of supply and de-
mand applies with equal force, If not with
more force, to money as to anything else.
The amount of legal tender money in cir
culatlon affects all values. Therefore. the
supply of money affects the price OF every
commodity, whether in large quantity or
In small quantity. 1t is that law that
affects the price of cotton, whether there
should be large crop or a small crop of
that staple. The scarcity of money makes
the price of cotton now. The overproduc-
ton Of cotton Qf, indeed, an overproduc
tion Is possible when the supply Of money
keeps pace with the demandI would, of
course, have cumulative effect that would
force the price, even lower than the scare
ity of money would force it. A short crop
of cotton WILL. Of course, in a small de-
gree, overcome the low price caused by the
want of money.
FallneiOus Reasoning.
THE reasoning Of those who congrat-
NIL
will get good prices for cotton on account
Of short crop is so fallacious and alb
surd that 1t hardly deserves comment
Their position is that If the farmers want
a good price they must work only half the
time or burn up half their products in or
der to sell the other half for what the
whole crop would have brought at ex-
tremely low price. The farmer deserves
fair and rernurerative prices for his prod
ucts when he works all the time and makes
to grow whea SasS sfew before The
stead Of on idleness sufficient supply of
money will do this. The contractionists, or
gold men, put premium upon idleness.
THE wage Garner is equally concerned
with the farmer in changing these condi-
tiCns.
"The gold men claim that the wage Garner
Is better off under present conditions. yet
we saw only the other day that contractors
were refusing to bid on contracts for fear
If they had free coinage of silver they
would be forced to pay labor a higher
price.
Neither the farmer nor the wage Garner
can be fooled about this matter. They un-
derstood this question before this move
ment for financial reform was started.
otherwise 1t never would have been started.
They forced the issue of 1t to the front,
and self-preservation compelled them to
do 1t. The wage Garner and farmer can
be depended on to stand together in this
fight They already understand their unity
OF interest, and will fight it out together
in November"