The times. [volume] (Richmond, Va.) 1890-1903, 1896-05-19
HAS GOLD APPRECIATED IN VALUE

The argument with which the free
coiners OF silver have produced the great
est effect upon fair-minded men, who
are endeayoring TO ascertain the real
truth Of the frec-silyer case, is that gold
has so appreciated in value that the
prices Of all things have greatly fallen.
They say, therefore. that VIVA. IS called
the fall in the value Of silver is not
really a fan in the value of silver at
all, but a great rise in the value of
gold. We propose this morning TO put
that theory to the test in the light of
certain established facts that cannot be
controverted
In answer TO the claim that a Mexican
silver dollar would buy as much to-day
as it would buy twenty years ago, and
that the reason a Mexican gold dollar
would to-day buy two Mexican silver dol
lars was because the gold had doubled
In value. while the silver stood at the
same value, on Saturday we quoted the
prices Of certain articles as of 1876, which
was twenty years ago, and Of 1891, and
those prices showed that the silver dol
lar would not buy as much in 1871 as it
bought in 1876. and as ii has deprecated
since 1891 considerably below what it then
was. of course. it will not buy as much
to-day Of the articles referred TO as 1t
would buy in 1891. AS the figures We
then quoted have just as material a bear
ing on the subject now under discussion
as they had on the Mexican dollar we
shall make no apology for reproducing
them, as follows:
in July. 1876. the price Of rough hemp
In CINCINNATI was SllO per ton. anJ in
July, 1891. It was Sll5 per ton. Rye No
was in Cincinnati in October. 1875. sc
cents bushel. and in october, 1881 it
was IS cents a bushel. Beans ~ Boston
were. in January. 1876. Sl.75 per bushel
and in January. 1891, I2.l5 per bashel.
Rio coffee fair in New York. was. in
January. 1876 II - cents a pound. and
in July, 1891. ii was IS S-4 cents a pound
Eggs were IN New York in October.
1876 16 to Is cents a Dozen and in Octo-
Der 1891. they were from 20 TO % cents.
Goldfish was in New York In May, 1876.
cents a pound and in May. 1891. II
cents pound. Hcrrlngs. in Boston. were
in September, 1876. $40 per barrel, and
in September. 1891. were $3.50 per barrel
Salt mackerel. shore No. /. was in Boston
in 1876 mo month given. $3.50 per barrel.
and in October 1871 S2i per barrel. Mack
erel. No. ?. was in Boston. in 1876. S6.75.
and in october. 1891. was Spices.
mustard. best domestic. were IN January.
1876. .2i7O per pound and in October
1891. were .2ls5.
These are the gold prices at the re
spectivc dates, and they are taken from the
report Of the Senate Committee on Prices.
made at the second session OF the Fifty
second Congress, Volume II. Their ac-
curacy never has been and cannot be dis
puted
Now in 1891 the silver dollar stood in
regard 70 the gold dollar as IS cents 10
100 cents. That Is. II took 100 cents I'm
gold 10 buy a thing in 1891, II took l25
cents In silver TO buy Il then. Very well.
Take the case Of hemp in the above
statement. The bullion In one hundred
and ten gold dollars would buy a ton
Of hemp In 1876 and the bullion in one
hundred and ten silver dollars would do
the same. But I'm 1891 the bullion in one
hundred and fifteen gold dollars would buy
a ton OF hemp. but IT required the bullion
in one hundred and forty-threo dollars
and soventy-five cents Of silver dollars TO
buy that ton then. Now. whether gold
has appreciated in respect 20 other things
or not. II cannot be denied that It is
silver that has deprecated in respect to
gold. when they are both tested by hemp;
for here 10 gold buying almost the iden-
teal quantity Of hemp In 1891 as It bought