Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-06-11
SOME BOTTOM FACTS.


.eply he can make to those who main
tain That low prices have been caused
by improved processes of production,
and that those improved processes have
resulted in overproduction.
The argument of improved methods
and processes is disposed OF by the
bold facts of the situation. The profits
of producers would not be reduced by
the fall in prices and we should be en-
joying period of prosperity and BUSH
ness activity. As to overproduction
in wheat, the figures issued by the
United States department of agricul-
ture show that the number of bushels
per capita of population produced in
1850 was 90. The price was then 95
cents bushel. In 1885 the number of
bushels per capita of population was
6 3, but the price fell to a cents In
1893 the number of bushels per capita
of population was SO, and the price
fell to SO. s cents.
1t will be said, OF course, by the
agents of the money power that in the
case of wheat, lower prices have been
caused by competition from India and
Argentina But there would never
have been any competition from these
countries but for the bonus on their
wheat offered by the gold premium.
They have been able to underse1l us in
gold prices, but they continue to re-
ceive a dollar bushel for their wheat
in silver.
But there is no competition in the
production of corn. The United States
is the only great corn producing nation
on the earth, and yet the price has fall
en- from so cents bushel to IS cents.
In the case of cotton, the facts are
even more noteworthy. From 1886 to
1889, inclusive, Gotten production in
creased gradually and the price re-
manned stationary at about g. 9 cents a
pound. Production increased in 1890
and 1891, and the price increased also.
In 1892 and 1898 there was a sudden
decrease in production, but the price
declined also-the small crop of 1898
selling for so per cent. less than the
large crop produced in 1891. In 1894,
with a crop no larger than for 1890
and 1891, cotton sold for 40 cents a
pound, though in 1S9O-91 it sold for 10
cents a pound.
Now here are three great commodi-
ties in the production of which nearly
half of the population is directly con-
cerned, and in which all the people are
directly interested. They are the COM
modlties on which the whole country
depends to pay it's foreign debts and
the interest thereon. They are the
commodities on which more than half
the population depends for money with
which to pay their debts and taxes,
and on which the business interests of
the whole west and south depend for
money with which to keep the wheels
of trade and business in motion.
But these are only three commodi-
ties AS mattes of fact every prod
uct of human labor has been struck
deadly blow by the increased and in
creasing value of gold. The report of
Bradstreet's commercial agency for
last week grimly remarks: prices of
commodities are on the whole lower
than ever before, having declined two
per cent. since April and II per cent.
since July, 1890" Bradstreet's Stats
tician might we'll have added to this
mild and conservative report the state
ment that prices have fallen more than
100 per cent. since 1873.
Now, as it is easy for our correspond
ent to show that the prices of all COM
modities have been controlled by some
influence irrespective of the operations
of the law of supply and demand, it be-
comes an easy matter to trace the dis
turbance to it's fountain head. Until
1878 prices of all commodities were
raising and had been rising since 1853.
Since 1878 they have been falling more
rapidly than they rose. In 1878 silver
was demonetized, and since that time
the fall in all prices and values has
been constant. It has been marked by
two panics, and the miseries of man
kind have been as rapidly multiplied
as satan himself could desire. Every
thing has fallen except gold, and that.
it's worshipers say, has remained steady
and stable; and they make this asser-
ton in the face of the fact that the
demand for gold is SO peremptory that
tfe people of the United States have
been compelled to GO into debt to the
extent of more than $500, 900, 600 to buy
the metal, and now have only of gold
to show for the transaction.
Now, any sane man knows that it
would be an impossibility for gold to
retain its old value and still buy tw ice
the quantity of commodities that it
would buy in 1873. What, then, has
happened? Why, silver and other COM
modities have remained at their old
level and gold has risen. Two fisher
men anchor their boat in the middle of
stream at sunset and take note of
their surroundings They find Qet us
suppose> that the banks on each side
are of equal heights and that the trees
present the same contour on each side.
But in the morning they find that one
bank has disappeared, while the other
presents the same general aspect as
before. What would they conclude?
They would know that one of the
banks had "caved in,' as we say in
Georgia. or that the surface of the
country on that side had sunk to the
level of the stream.
But suppose that both banks had
disappeared. What would be their
conclusion? They might claim that
the land on both sides had sunk to the
level OF the stream. But what would
jewellers therea bout think of such a
conclusion? The ability is that if
the fishermen insisted on their theory
they would be packed off to the nearest
insane asylum. But there would be
no likelihood of such theory enter
ing their heads, for they would know
that, from some cause or other, the
streI.zs had risen during the night un-
til it was on level with it's banks.
The only yrar To rnaaSura cold iS nv