The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-01-06
1AE FAIL or pRloEs


Crack,
Tho people who deny the apprecia.
ton OF gold, and insist that the fail Of
prices Is due 60 Improvements In pro-
duction, transportation, new territory,
etc, are given very tough mt TO
crack by the movement OF prices last
year and this year. Last year there
was % heavy drop Gu average prices,
not only in this country, but through.
ont Che world. Many persons explain
all such movements hy local causes
bat Che similarity of tho record abroad
makes such explanations ausurditics
Go this case English prices were not
affected by tariff legislation, or iearo
an exhausted gold reserve, orany other
known cause except tine world money
system The English price record now
universally accepted as authoritative
Is that of Mr. saucrbcck, which s.
based on the movement in prices OF
forty-lvc leading articles OF commerce,
The average prices OF the several arti.
cleo from So Oh 1870 being assumed as
the standard. The average price Lowell
of these articles fcll from 65 in 1898 90
90 in lsoL ln other words, the aver
age prices OF these articles were
per cent lower in 1904 than in 1898, o
per cent lower than the average OF
the preceding ten years, 90 per cent
lower than the ten years lss7-sT, and
90 per cent lower than the eleven
years lsl1.1L
This isa remarkable record anl one
oi iis pccu.iaritcs oi Che last ycar OF
the movement was Chat itaGeciei all
the commodities considered. Says SIR
Saucrbccla "The decline during the
past year extended 90 900 commodities,
aud in 90 ease was 60 less than g per
cent" Sixteen OF Che articles fcll 90
the lowest point recorded in Che rro,.
eut century. and among these wcrc
such staples as wheat, lour rice, SUE
gar. lead, cotton juie mcrino wool,
silk and Soda win some of thc advo-
Gates oi the theory of iall of prices
from natural causes point ont the nat-
ural causes that had SO marked an
effect in 1924? What ala 3d.? Was 10
improved machinery new processes
better transportation, or some other
cause? Where was The new territory
brought into the worlds use in 1892
What was the now machinery, pro-
cosscs. or other alleged cheaper.
ing agency that reduced the price
OF every one % Mr.. Saucrbccks
forty.hve commodities 40 least @ per
cent? What was the cause that af-
fcciod alike the sheep and the silk
worm, that made The production OF
both lead and soda less costly, that
cheapcncd rice and iuic? The BIZ
moallist points 60 The cause without
hesltancy. 10 was o. period Of general
depression. There were unusual de.
mauds on standard money. Gold, len
which an these articles are measured,
appreciated in value ON account oi the
f increased demand That Is an cxpla.
nation that covers the ground but
where s. any other explanation that
covers 90? They dil not IAN as moas-
urcd Gu silver On thc contrary, silver
/ fell more than Che average oi these
forty-nvc articles going .rom an avcr'
age OF SIS per ounce Zoo 1893 60 s OBS
per ounce Coo ls9l What were Che matt
ural causes that explain the move
mcut?
This years movement thus Tar lur'
7 nishcs thc argument from the Other
/ side. Most of these prices have Oh.
vlncel. Silver is now up 90 500
What natural causes account Tor DO.
/ llaa machinery suddenly deieiiomtodi
/ Have thc new processes been lost2 Has
I the cost of transportation incrcascil
/ Has ans territory been closed Co thc
world? Have amy silver mines diap.
pcarci? Has tbo expense of mining
silver iucreascd2 How DO you explain
/ it2 Tho bimctalli,t has no difficulty
] CO. assigning o. cause The depression
| is passing on The abnormal demand
for standard money is decreasing.
Gold is dcprcc.atnF on account of
/ lcssencd demand We should like io
see some of our gold mouomc,al..st
contemporaries wrcstlc with tbIs prob.
/ lcm Asa scientific que zion, from a
/ monomcallist standpoint Do presents
more dinlc1lt point, Tor explanation
/ than the ball-u0zzlc hose -lud.anupo.
/ lis sentinel