Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1896-09-10

| pare the NUMBER Oh Dislcls VI NuS"t'
From 1874 to 1884, according to Null
hall, the average production OF wheat
throughout the world was 2,06S, 0O0,OOO
bushels. According to the United States
Department Of Agriculture the world
production of wheat in 1891 was 2,369,-
| TAG, 900, making gain Of only 30l,-
746,0O0 bushels in l6 years. DIDN'T
the worlds population increase in ra-
ito equally great ?
In 1875 the price of wheat was SLIP.
fall of 81 cents from 1874. In 1890
the price was SO cents (have not the
price for 1917 but as there was raised
nearly 200,Q00,000 more bushels of
wheat in 1891 than in 1890, the price
ought to fall in proportion (according
to your theory say to about % cents.
How can you explain the overpro-
duction theory according to these iig-
uresp
In the next issue of your paper you
stated that the overproduction theory
could not be gainsaid. Now, Mr.. Edi-
tor, if that is the reason of low prices
the remedy must be to check produc-
ton. This means more idle factories,
more abandoned farms, more idleness,
more poverty, The man who makes
two blades Of grass grow where one
did before is curse and an enemy Of
mankind. Can it be that now we have
reached the height OF our glory and
must sink into degradationp God for
bid
C. p. TEACHER, Pomfrct, vt.
1t is always easy to find eminent au-
thority for any position that may be
taken. Just as trustworthy authori-
ties as our correspondent has cited can
be summoned to prove that the decrease
in pricesis due to overproduction, in
vention and improved processes, and
that the gold standard has nothing
| whatever to do with it.
However, when facts and figures are
dealt with. mere opinion has to step
aside. In. 1870, according to Poor's
Railroad Manual, there We're 52,922
miles of railroad in operations in the
| United States In 1894, the latest year
for which statistics are available, there
were 1929 miles in operation. In
vention and discovery have certainly
made more progress since 1873 than in
the % years preceding. Prices did not
rise up to 1873 and begin to fall then,
but began several years before that
time. Especially is this true of farm
products. Wheat brought 2l9.6 in
1866 and only Hal in 1873. Corn
brought 50.4 in 1866 and only 51.4 in
1878, and other things in proportion.
The decline In prices began with the
introduction of improved farm machin-
cry and the development of the West
and not with the establishment of the
gold standard.
Production has certainly more than
kept pace with population, our CORE
spondent to the contrary notwithstand-
ing. In 1878 the production OF wheat
in the United States was PSI, 264, 200
bushels; in 1895 il was 467 ,l02. 947
bushels. Our corn crop in 1873 was
1872, 247 200 bushels; last year it was
2.15l ,l3s, $50 bushels. Oats have adj
vanced from 26S,14l.07s bushels to
1911, 4l3, 537 bushels in the same time
and all other products in the same pro-
portion. In 1873 our populationl was
about $1,000, 900; in 1895 about 6s, 0O0,-
600. Judge for yourself if production
has not outstripped population. De.
crease in prices must necessarily fol-
low.
As to the worlds production of
wheat, our information differs from
that of our correspondent. According
to the report of the U. 5. Department
Of Agriculture, the worlds production
Of wheat for the past five years was as
l0ll0Ws -
1891, 2,432.322 900 bushels.
1892, 2,4Sl ,S05,000 :.
1898, 1852, 9l3,0Oo
1894, 2,672,34l 900
1895, 1862, 677 900
This is quite an advance over Null
halls estimate, which could hardly be
expected to agree with the government
report for that period, if it were avail
able. The mere fact that the old
,vorld Il nro,uinm ~ lnnSt ~ ran1h