The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-07-02

IT Is NOT OVER PRODUCTION.
The New York Journal Of Commerce
would ordinarily be regarded as a very
good authority on the subject of the COM
Inerce of the country, but it is not quite
so great a success when il ventures into
the realms of political economy. 1t IS
a trade paper. Of course. and looks at all
subjects from strictly trade standpoint,
but even making that allowance. 1t is
a little extraordinary to have a paper Of
its Influence say that the leading cause OF
the depression lies in overproduction.
To man dealing In commodities a slug
gishness of demand would seem TO inGi-
cate that there was an overproduction.
Wherever there is a giut OF goods in the
market the price is sure to be low, and
the profit small and even then there
might be surplus left on the hands Of
the merchant. This would not prove that
there was overproduction. but only that
there was an inequality in the relation
between supply ana demand. In a local
market there may be glut of vegetables
on certain day. but there will not be an
overproduction unless every individual
has more than enough for his wants.
There might be an overproduction, in
that sense. of wheat In the American
granaries. and people be suffering for
want of food In London. There would not
be overproduction OF wheat. but want of
adjustment between the supply here and
the demand there.
The wholesale importer of foreign goods
who is now stacking up vast quantities in
anticipation Of rise in the tariff may
he inclined 10 complain that there Is au
overproduction because he cannot read
iiN dispose OF his goods. II he keeps them
long enough they will be in demand.
There may be temporary overprodIe-
tion so far as he is concerned but there
Is not a universal overrroduction until
every person has all he wants.
II sometimes happens, and that IS what
ISL the matter with US now. that there Is
ah under consumption. People are some
times compelled TO do without wha; they
need. Some men at times have 10 50
hungry. while there may he plenty OF food
n.
storekeepers would willingly Soil. The
baker and the grocer might complain that
there was an overproduction but the
man who could not get enough to eat
would not make that complaint. even
ufoa@h he could see stacks Of ioaves piled
II on the counter ana barrels OF grocer
Ids wing 0ueateu fl thc stores SO sooa
II the machinery - n :ull working order.
al I'll all the people are employed at wages
which wlil enable the.n u tuy what they
need. tae surplus viii soon disappear. n
( deed. mills VIII start up TO supply wearing
material the aoar rains VIII Be kept busy.
the butchers wiz have 20 hustle arouna
/ fer beer ont mutton IN response 70 the
+ call, and with astonishing rap'dlty the
vblune OF consumption will Increase.
There may he az overprotuction ot
pIanos. or typewriters or base heater
+ 81 owes or suy mechanical dev3ce. which
+ H GENES anticipated - reason ~ i'm
+ ptovemer-s. bat the world has never yet
sfcr an overrrc3Gctiou OF the necessAr.
I IDS ~ comforts Of life.
( 1eose VITO are tauntlns the Rcpuhli-
F cka~ wsth the failure 81 prosperity 90 re-
7 s3sond promptly upon the election % Sic
. ktaiey overlook tive 'hInEs. The hard
i discs were attributed n wan; * conf
/ eIeaee and 20 81 rcischtevoas gar8g. AL ne
rt.zch5ef So. that tariff IS stlu working
+ i "a Will continue - work wIth uaatsted
( ! ger untH tae rev law = ia operation
+ 5ef even then II viii take some t5rYsa -