The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1898-07-21

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OBJECT LESSON FOR 1898.
The extraordinary shortage of food
supplies in Europe, due to the failure
Of crops during the season of 1898, and
the failure of crops during the season
of 1898 in countries which compete
with the United States, such as India,
Argentine Republic and Australia, ac-
counts for the e'.orinous increase of
our exports of wheat, flour, corn, and
other food products during the eleven
months of the fiscal year ending June 1.
These exports have been large beyond
all precedent and were looked for by
those familiar with the situation. The
following table shows the value of ex
ports of wheat flour and corn since
1893, from which the volume of this
years business may be understood:
| Year. Wheat. Flour. Corn.
1893 S93 J34 $40 $15, 5,494 ,347 S24. .JS1 ,511
1894. 59,40I.O41 G9,21,710 30.211. .154
1895. 43SO5. .663 51.651.92S 14650, 161
1896. 80. .T09.S6S 52.025,21T 81 ,S36,S62
1897. 59,910.17S 55.9l4.347 5i,0S7, 100
1898. 120, ri ,512 63.506,233 6I,0O0,2I0
1t must be remembered that while
this table gives the exports for the
entire twelve months of each preced-
ing year, it gives them for only eleven
months of the present fiscal year,
which shows that we exported about
100000 600 more breadStuffs in eleven
months of 1898 than we did the entire
year of 1897. which was itself Il year
of phenomenally large exports. The
wheat crop in India and Argentine Re
| public ripens in the winter. AZ the
crop of 1867 was an almost entire
failure in those countries, resulting in
| the great famine in India the latter
part of the fiscal year of 1897 was nat
| urally affected, resulting in larger de-
| mand from this country. 1t is FORUM
ate for us and the world at large that
| the Almighty blessed us with an abun-
| dant harvest and thus filled our gran
aries SO that we could feed the world,
otherwise the distress would have been
great. 1t was also fortunate for the
farmers of this country, however un-
fortunate it may have been to the poor
of foreign countries, and the under
paid workingmen of our own, that this
interpOSitiOn of Divine Providence
came in time to alleviate. for the time
being. the disastrous effects of the gold
standard. Otherwise, with the low
and continually depreciating prices,
which prevailed during 1896 and the
early months of 1897. the mind fails
to conceive the condition which would
have resulted. 1t is noticeable, how
ever, that the advance in prices has
been almost wholly confined TO food
products, and the increase in our eX-
ports have been confined TO this class |
of the products of the farm. Thus it !
happens, as previously shown, that |
while our exports of cotton were in |
bulk somewhat larger, the amount of |
money received therefor was less than |
for the crop of the previous year. OF |
all products perhaps pig iron comes
nearest being the barometer of the |
price of labor. 1t is almost wholly Il
product of labor. \ fall. therefore. in
the price of pig iron indicates to an al
most dead certainty lowering of the
wages of those who produce it. Al |
though the use of steel and other prod
ucts of pig iron have been enormously
extended the price of this, aside from
food products the most important of |
human productions. has steadily de-
clined. James NJ. Swank, editor of the
Bulletin of Philadelphia, the organ of
the American Iron and Steel Associa-
ton, recognized as the best authority
on everything pertaining TO this prod
uct in the United States, says in the
June 10 issue:
BY correspondence and by consult
ing quotations in the pig iron centers
we have aScertained that an average
price for our pig iron production was
$1O46 per ton in 1896, and $9.S5 in
1897
This shows a loss of 81 cents per ton
in the price. As there have been no i'm
provements of value cheapening the
process of producing pig iron during
the year, this 81 cents a ton may be
said to be taken from the price of labor
Thus while staple food products have
advanced under the influence of the
extraordinary foreign demand, the
price of the other great staples have
declined as a result of still appre-
ciating measure of values. We have
always said that prosperity must begin
at the farm, and when the farmer gets
good prices for his products all classes
share his good fortune with him. The
small measure of prosperity the coun-
try has been enjoying during 1898 is
due wholly to the advanced price of
the products of the farm used as food.
The farmer gets more money for his
products this year. consequently he had
money to spend after paying his fixed
charges. with which to buy the prod
ucts of other peoples labor this indus
trial activity is stimulated. The gold
advocates, ever ready to mag
nifty the Importance of the money lend
er, cOntended that national prosperity
was dependent upon ability to borrcw,
and that while foreign and domestic
money lenders Were frightened by sill ;
yer agitation prosperity would not
rome. All that was needed was to re-
store confidence to Shylock and all
would be we'll. The object lesson in the
experience of 1898 should, therefore, be
a good one.
The Chicago Platform.
If the Democrats do not control the
next Congress by an overwhelming ma
jority it will be because of the inef-
iciency and timidity in leadership The
reaction certain to be forced by the rad I
calism of extreme plutocracy has al
ready begun. and it is making itself
felt in an unmistakable way. What it |
means is illustrated in these comments !
Dn the proposed anglo American