The midland journal. (Rising Sun, Md.) 1885-1947, 1899-02-10
The Professors Facts and Logic as
Remedy for Low Prices.

Professor Powell i'll his argument before
the Institute last week impressed it npon
the farmers that they must prepare for
low and still lower prices, aud held up to
them the belief that low prices for their
products was to be the normal condition
of the future for them, and this condition
could only be met by a system of inten
sive and scientific farming. The Professor
pointed to the cause of short crops, and
very logically demonstrated the fact that
in order to secure large crop and such
crops as alone will sustain the farmer
under the low range of prices, which he
should make up his mind to be satisfied
with i'll the future, that the constituents
must be placed in the soil which are re-
quired to make the largest yield of. the
crop under cultivation
AS wise and intelligent as Mr. Powell
clearly demonstrated he is, he appeared
to be entirely oblivous to the fact that
his reasoning and facts upset his conclu-
sions, when applied to the economic prob
lem Of low prices. Nature has but one
principle OH which all her laws rest. The
same law which applies to farm crops
governs the entire problem of economics
or political economy. 1t is the constit-
uents which compose the different parts
that constitute the whole as crop. In
the making of the crop nature must have
these necessary constituents present with
in convenient reach for use. The Pro-
fessor pointed out these self-evident facts
to his audience very clearly and convnc-
ingly, and in the same breath told them
that low prices were their unalterable
doom IN the future.
We have learned what farm crops are
composed of and the disposition necessary
to be made of those constituents in order
to secure large crop, also the nanipula-
tons of the soil necessary to secure the
desired result. If these manurial constitu-
ents remain in the bag and are not applied
to the land, or if the soil is not properly
prepared in connection with their appli-
cation, the Professor very clearly pointed
out that all abundant crop could not rea-
sonably be expected.
And now let us see if the same natural
| law does not govern prices. What con.
stitute price or prices? Money undoubt-
eddy, as surely as potash, phosphates,
nitrogen and other constituents 60 to
| ~, &c
skimped and not present where they
shonld be a light crop is the inevitable
result, labor as diligently as the farmer
may. So it is with money in relation to
price. If the money in circulation is
skimped in its proportion to the amo, mt
of produce or commodities it has to price,
the effect will be similar to small amount
of the constituents which farm crops are
made of if spread over too large an area
of land. There will not be sufficient
quantity to supply the plant food to the
growing crop and the crop will be light;
just as when small volume of money in
circulation is used to price large guam
tity of goods on the market results in low
prices.
A large volume of money might be in a
country but if it is locked up in the treas
ury or in banks, or is invested in bonds
and stocks, and used foT speculative pur-
poses, in place of being invested in pro-
ductive business, like the fertilizer in the
bag, no benefit will be derived from it in
promoting prices. Professor Powell and
the other members of the Institute lecture
corps gave our farmers great deal of
practical and valuable information, but
clearly there remains a great deal for
them 10 learn OIL the economic side which
is as necessary for our farmers to know,
in order to be supplied with full bal
anced ration" TO use the feeding term
of the dairymen, in order to be abreast of
their business
The evidence is at hand from which to
draw Enthusiastically correct conclusions,
that prices of the raw material of food
stuffs which the farmer produces should
be on the advance in place of on the
decline. The increase Of the wheat crop
of the world has been - per cent in
given number ofyears counting back from
present date, while the increase of popu-
ation in the same period has been IS per
cent. There are more mouths to fill and
yet the demand for food to fill them
would appear TO have diminished, which
is a natural impossibility. The true rea
son IS there is not money to purchase the
necessaries of life in the hands of the
people, and it is not in their hands because
it is not in circulation. A system of in
stitutes to teach the farmers how to rem
edy the evil of low prices would be inval-
liable to them. The evil of low prices for
farm products and the proper treatment
for their remedy can be as scientifically
demonstrated as the cause of and remedy
for poor crops.
Under the present range of low prices
farmers can never get out of debt-a few
favorably circumstanced may, there are
in every condition of life exceptions-for
as prices fall debt rises in arithmetical
progression. Debts created twenty-five
years ago have since steadily increased
their power of absorption requiring more
and more produce every year as prices
fell, to satisfy them and the interest they
carry.