Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1897-05-22

ceeded in both respects, by the fall in prices
5ae ct the sentusy nd Trims sne
appears the chief foundation of my colleagues
2 The chart is equally severe on another very
touching argument OF the free silverites; Sill
and its advocates are very sympathetic,
very nx si,y to t the sad a
to restore prices" But it is well worthy OF
a treinendous fan and then BY a great rise il
ned SUIT slightly though silver liver advocates fire.
quentIy boast of this uniformity in the price
this fe It II m
them that during this long period, when silver
aioor from atfer commoiitiee iInpotent bike
to prevent their fall or to promote their rise.
fail IN prices did not bsin in ms is7s but in
1sA When those who are trying to foist upon
a, pa a,a for al our Ills real and iaagin-
tics Of average prices AND nR ei2sns the
prices of certain great commodities like wheat
they not o back at ieaas aa few Years. fnrshep
and show that, in relation to some of the most
ls and Double Obj raj ln
thing n the way OF a fall that has taken PLACE
years than in I'll the years since? Why. for ex-
f proe * in9 the eosoa Fell ron
sl.0l5 pound in 1864 to less than II cents in
on vital points? Or are they willfully suppress
ing a portion of the truth, having lively APP
ment would be sufficient to overturn their en-
tire contentiCn?
my colleagues own figures that the fall In
say much is not the only the
great one OF this century; that 1t did not be-
TO which they ascribe it, and that free sill
YER" having demonstrated in the past it's in
competency to affect prices (even if that had
been SHOWN to be desirable), cannot reasonably
be expected to affect them in the future-these
things having been proved, Mr.. Chairman; our
side can fairly rest our case and demand the
Judgment of all candid men
What Caused the Two Great Falls In
Average Prices.
Taking the century as the period for inves-
tigatlGn. and reTertlnS again to my chart
the reasons for those mighty changes in the
this century two periods of Try nigh prices ices
any principle or law DO discovered in accord
aIce with which these changes in price levels
took placer II so, 1T is very pertinent to this
Let Us see if the two periods of high prices
have anything IN common The 1irst of the -.
highest point at 1eU9. Il is very important to
Napo.eonic wars which cost Europe so much
in nl-od and treasure. 1t is noteworthy, also,
that the second period of very high prices COW
ers the years of great wars, the Criniean in the
early hfties, our own mighty conflict in the
early sixties, followed in the later sixties by
the war between Prussia ard Austria and in
1870 by the Franco Prl1- 4si;.n
Now is u great destroyer of property,
while az the same time it takes from the pro
ductive industries vast mum Ders of their best
workmen: 1t is a time of abnormal demand
coincident with abnorn.aly restricted supply,
hence period marked by great wars is always
period of abnormully high pric,.-
What, the ether ham,, Is the natural and
legitinate eff"cs on prices produced by a long
Every person within the sound Of my voice
nent of a competency for his Oh age. Now.
snc, hn5 IN M afe II o is Ibi OF
That each month and each year the rerson en-
than he consumes. This is the basis of increase
in wealth. personal and national
Now price depends chiefly On two things: l,
2, cost of production. 1t therefore follows that
naturally excert:s co1:st1nIr,tio1l and when the
derising new and better methods OF produc-
ton, prices naturally fall: ThI:s il has been
Following the Napoleonic wars at the begin
ming of the century ana following the rance.
peace, accompanied by the usual fall il aver
If pence conditions are normal, three Incl
dental results should appear and all of them
stantard of living. This implies
That gwen amount mo Of Labor should 1ff bring
3. The demand for more and better things to
/ thoss, better foods whose production cannot be
increase ed indefinitely.
What Soetbeer's Summary Shows.
/ Pushing this Investigation little further,
let ind ont what articles have been most
affect by the fan in prices.
great German statistician are justly regarded
rs nigh as b h ne %a6 5f6y sh1M
: by groups. The numbers in tn following table
. ere his index numbers. with 1s47-5o prices as
. base loo per cent.
lS66-1S10. 1SSl-lSS5
Products of agriculture etc. "A $50. q
Animal and fish products. 1858 $50. G.
Southern products. ste. ,l2l. "a 134. 4
] Tropical products. 1852 1893
( Minerals and metals. S5.47 81.
1 Textile materials. 1917 90. g.
/ Miscell aneous. 1850 ell
! Fourteen British man ufi;tJIrt d
articles .........13o.55 1o3.2
Dividing the above table into two eQua
/ parts. observe that the prices of the frs
four (which are chiefly food productsl wer
4 maTveioasly sustained and even advanced
whiie the prices of the second four lin the pro
duction of which labor saving machinery ar
largely used) show y marked fail.
The Soetbeer tables evidently do not war