The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-10-07


AL tne price or cotton in 1873 COLA
cents) the crop of 1896 would have
brought over $3.50, 100000, or more
than $5OO,o0O,0OO more than 1t did
bring. At the price of 1898 (S.24 in
New York; the crop Of 1896 would
have brought 3O7,375, 900, or $G1,S75,-
900 more than it did come to.
Total Loss to Farmers Since 1873.
Ihe gold price of wheat in 1873 was
$1.15, and the average gold price from
1873 to 1882 was $1.O4. Compared
with the price of 1873 the loss to farm
ers on the several crops from 1873 to
1895 has been $3,196, 100000, and the
loss from 1888 to 1895 S2O35, 900, 900.
Putting together the known losses
on farm animals, on cereals and other
farm products from the appreciation
of gold, and we have the following:
Loss on farm anlmpls..... S1,22o 900
On cereals ''''''''''''''''' yoO'ooo'UVO yooDU IVY
in cotton ......... ...,.... JOOOOO,OUO
On other crops and dairy
products .................. 4SOOOO'OOO
Total ........... ...... S3,19O, 100000
From this should be deducted, of
course, what the farmers gain by
lower prices on what they buy. But
the absolute loss to them in 1896, from
fall Of prices, cannot have been less
than $1,00O,000,000, and If the average
since 1873 be taken at $3.50, 900, 900
year, the total loss in % years would
amount to over S17OOO,OO 900; and it
is almost certain that, If the prices Of
1873 on all farm products Had been
maintained, that the agricultural
classes would now have from $l2,000,-
100000 to $4,000, 100000 more out Of
the total Of $65,OO0, 100000 of wealth
in the United States than they now
have. And, If we add to this the loss
Of labor in other fields, from the fall
in the prices Of their products, we can
form some idea Of the power Of an ap-
preclating money to transfer and con-
centrate wealth.
Whether money congests in money
centers, or becomes distributed, is
largely a question of prices. A given
sum is required annually from the
west and south to pay interest o in
debtedness to the east, insurance, etc,
as well as to pay for what the people
must have and do not themselves pro-
duce. This outflow is, in part at least,
constant. The flow back depends large
ly on prices With wheat at = dollar,
corn 40 cents, wool 80 cents and cot
ton 10 cents, money would flow back
fast enough But W.T. wheat so cents,
corn 25 cents, wool Is cents and cotton
cents the west and south can never
get out OF debt.
But had silver not been demonetized
the whole course of things would have
been different. By the bimetallic scale
our total wealth would probably
stand at 100000, 100000, instead of
$65, 900, 100000, and the producing
classes would have of this from $20,-
900 OOOO 900 to $4,000, 100000 more than
they now have. Such has been the
power of an appreclating money over
the distribution Of the earnings OF a
people.
Some illustrations OF This Law.
Tables in the Statistical Abstract for
1896, recently issued from the bureau
or statistics, furnished some remark
able illustrations Of the operations of
this force. The assessed value of all
the property In the United States for
1895, as compared with that for 1890,
oh tYa 90
OF this the gain in Massachusetts
alone was equal to the gain in all the
states west Of the Missouri river, with
nearly two hundred times the area, six
times the population and three times
as much capital. The gain In New
states and territories west OF the Mis-
sissippi, with 40 times the area, four
times the population, and three dimes
the capital These states and terri
tories produce 250,O00,000 bushels of
wheat, 1000, 900 bushels OF corn
and 20 times as many cattle, swine and
sheep as New York. Comparing the
gain in the south with the gain in the
single state of Massachusetts,, and we
find that the gain In this one New
England state was 1OO,O00,OOO NOR
than in all the states south OF the Po-
tomac and east OF the Mississippi, with
an area more than so times that of
Massachusetts,, and with a population
nearly eight times as great, with from
two or three times the capital, and
which, besides wheat, corn, tobacco
and other crops, produce annually
about 100000 bales OF cotton.
II we divide the states into larger
groups, We find that New England,
New York, Pennsylvania and New Jer
sey have gained more by over $780,
100000 since 1890 than all the rost OF