The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-08-13
SOME BOTTOM FACTS.
Eject OF the Single Gold Standard Upon
the Price OF Products.

ain that low prices have been caused
by improved processes of production,
Ind 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-
Ioying period of prosperity and busi-
ness activity. AS to overproduction
in wheat the figures issued by the
United States department of agrieul-
ture show that the number of bushels
per capita of population produced in
1850 was 80. The price was then 95
cents bushel. In 1885 the number of
bushels per capita of population was
3, but the price fell to II cents In
1898 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
whsat offered by the gold premium.
They have been able to underselI us in
gold prices, but they continue to re-
ceive 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 25 cents.
In the case of cotton, the facts are
even more noteworthy. From 1886 to
1889, inclusive, cotton production in
creased gradually and the price re-
manned stationary at about 9. 0 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
sellinr for 80 per cent. less than the
larrc e.op produced in 1891 Ia 1894,
waa = cr,n 40 larrer than Tor 1880
and sat, cotton sold for 46 ceuts a
poar though in ls9o-9l it sold for 10
cents pound.
Now Setc are three great cornmodi-
ties in the production of which aally
half Of the population is directly con-
cerncd, and IN which all the people are
directly interested. They are the com
modltias on which the whole &c sltry
depclla to pay its foreisu dabtl and
the interest thereon. They rl2 the
comrlo,li,ta1 on which more tIl1 alf
thepanuIa.jan depends for oa til
which TO pay their debt sos,
and on which the business oi
the whole west and souta d r FOR
money with which to keep the ~bcels
OF trade and business ia motion.
= But these are only three co.anodi-
ties. As matter Of fact ev-i prod
uct Of human labor has LAen asrucll a
GeG3!y Blow by the increa 3 ASA n
creq ia value of gold. Iae lst.. oi
Brads1gae5a commercial are iol
las ,ysek griuly remarks: 'i'sses Of
commodities are on the whJe i3wal
than ever before, having Gocliael two
per cent. since April l and II Per cent
since July, 1890" Bradstrcet stats
tician mi7ht well have added to thi
mild and conservative report the state
meut that prices have fallen more thar
! 100 per cent. since 1878.
Now, as it is easy for our correspond
ent to show that the prices Of all com
| modities have been controlled by som
influence irrespective of the operation
of the law of supply and demand, it be
comes an easy matter TO trace the dis
turbance to it's fountain head. Unit
1878 prices of all commodities wer
raising and had been rising since 1858
Since 1878 they have been falling NOR
rapidly than they rose. In 1878 silve
was demonetized, and since that tim
the fall in all prices and values ha
been constant. 1t has been marked b
two panics, and the miseries of mar
kind have been as rapidly multiple
as satan himself could desire. Every
thing has fallen except gold, and tha
its worshipers say, has remained stead
and stable; and they make this assel
ton in the face of the fact that til
demand for gold is so peremptory tha
the people of the United States hay
been compelled to go into debt to I'll
extent of more than $500, 900, 900 to bu
the metal, and now have only of go
to show for the transaction.
Now, any sane man knows that
would be an impossibility for gold
retain its old value and still buy tw i
the quantity of commo lities that
would buy in 1873. What, then, h
happened? Why, silver and other col
., modities have remained at their o
level and gold has risen Two tishe
men anchor their boat in the middle
a stream at sunset and take note
their surroundings. They find Get
! suppose) that the banks on each sit
| are Of equal heights and that the ire
present the same contour on each sid
But in the morning they find that O.
! bank has disappeared, while the 9th
! presents tie same general aspect
before. What would they conclud
: They would know that one of t
e banks had 'caved in," as we say
Georgia, or that the surface of t
|, country on that side had sunk to t
: level of the stream.
But suppose that both banks h
disappeared. What would be thu
conclusion? They might claim th
the land on both sides had sunk to t
level of the stream. But what wor
dncllers thcrea bout think of such
conelusion2 The probability is that
the Il hcrmeu insisted on their thee
! they would be packed off to the near'
insane asylum. But there would
no likelihood of such a theory ent
ing their heads, for they would KIN
81 that, from some cause or other,
er stream had risen during the night I
'e. til it was on level with its banks.
The only way to measure gold is
}, the quantity of commodities the p
pie are compelled to give for it in
be der to pay their debt" BY this me
~ fol, 80 70 hlo hon fla U