Arizona weekly citizen., 1896-09-26
LOOSE STATEMENTS.

political and financial argument is made
upon mere theory and guesswork, and
not upon facts, and then there would
not be so many wild and rambling
statements made on the subject OF the
silver controversy that is occupying 30
much of the public attention.
Perhaps the most experiences snd
competent finAncier who has embraced
the silver side Of the question is Mr..
William P. st. John, the treasurer Of
tie Bryan campaign national committee.
Mr.. st. John was, until recently, presi-
dent of prominent national bank OF
New York city; but be became so fans-
ticsl partisan of the free coinage of
silver that ne was requested to resign
his connection with the bank, the direc-
tors not believing thas bis course was
for the good OF the institution.
That is q part Of the subject with
which We have nothing to do, but We
merely mention the fact to show that
Mr.. st. John is probably we'll posted in
the rules and practice OF finance, and
doubtless possesses more real knowl-
edge of the subject than does any other
In the silver ranks. Mr.. St John has
IN article in the September number OF
the Arena Magazine on free silver and
national prosperity, and one would nat
urally look to him, rather than to Mr..
Bryan and other stump speakers in the
present campaign for something better
than loose statements and opinions in
place of facts.
Mr.. st. John sets out with the decla-
ration that the farmers make up nearly
one half of the population of the coun-
try, and that they are in a hopeIessly
wrecked condition, which has been
caused by the gold standard of money.
and can only be cured by the adoption
of the free coinage of silver. He says in
this connection:
The fountain-head of our prosperity
has run dry. Our farmers all over the
country have endured the depression in
prices until they get about So or 80 per
acre for an expenditure of $40 per acre
and the like. Their credit is exhausted
at their country stores. The country
store ceRses to order from the city mer-
chant, the city merchant reduces his
demand upon the manufacturer. Man.
ufectures are curtailed.
The consequence is that employees
and all elements OF labor are being die
charged, and wages are lower TO those
who continue in employment. T5A suf-
feringe Of the farmers, who constitute
nearly one half of our population, are
thus enforced upon the city merchant,
the manufacturer, and all forms of Ia
Dor.
Here are several very positive state
ments. The first of them Is that for an
expenditure Of $40 on every acre of land
under cultivation, the farmers only get
Q return Of s8 or s9 an acre. II this be
true, the farmers are not only in q bad
condition, but the time will be soon at
hand when they will not only have moth |
ing left, but will be deeply in debt into
the bargain.
In order to have some facts and fig.
ures bearing on the subject, it will be
necessary to 60 to the United States
census. In order not to load up these re-
marks with statistics, q few figures OF
totals will be presented from the rs
cords. The number of farms in the
United Stats in 1890 was, in round
numbers. 4,5OO. 900. They made up an
aggregate OF land under cultivation,
leaving out woods and pasture lands, of
557, 100000 acres, and, according to Mr..
st. John, the farmers are losing from
one to two dollars an acre each year,
and, il tie average be pot at s1.5O on
acre per year, it will be seen that the
farmers are scoring a yearly loss of
s737 100000. 1t lie evident from this
thsr in less than ten years they will lose
more than seven hundred million
dollars, or nearly one-third of all the
assessed property. real and personal, in
the United States. This is q monstrous
statement.
r. But, lie spite Of the assertion that the
farmers are losing S70O. COCOON every
year. the feet remains that their crops.
grown oat OF the groupd in 1890, sggree.
sted in value 50. 460. 100000. IL the