Meade County news. [volume] (Meade, Kan.) 1900-1918, 1900-11-08
COMPARATIVE PRICES
PROSPERITY CLAIM DEMoL-
iSHED sY OFFICIAL FIGURES.
Facts from tho Statistical Abstract-Un-
precedented Production OF Gold In
creaSes the Volume of Money and
Atones Somewhat for Lost Double
Standard.

Standard.
The gold standard people asserted in
1896 that the one great need of the
country was dearer dollar, dollar
that would buy more of the products OF
the farm and the factory. In other
words, their contention was that prices
were too high, and that the adoption
of the gold standard by reducing the
amount of money in circulation would
reduce prices by giving greater pur-
chasing power TO the dollar.
The silver men admitted that the
adoption of the gold standard would,
by contracting the currency. result in
a fall of prices, but asserted that this
instead of being a benefit would be a
calamity. disastrous to all producers.
That a dearer dollar meant smaller
prices of all products of labor and that
falling prices in the past have always
brought ruin and disaster to the bust
ness world.
These positions were clearly defined
Both agreed that the gold standard
meant lower prices. They disagreed
only as to the effects, the gold advo-
Gates asserting lower prices to be de-
sirable thing, the silverites maintain
ing that general fall in prices would
be a calamity.
The Republicans won, we have the
gold standard, but to some extent the
predictions of both sides seem to have
failed. The silver people still main
tain they were right, but that unex-
pected conditions have temporarily
averted predicted results, while the Re-
publicans are now issuing campaign
literature showing that we have had
an increase in the amount per capita
of money in circulation, that we have
had prices and that the country is
prosperous because OF higher prices,
forgetting apparently that they are
thereby proving the claim OF the Bry-
antics in 1896.
In spite of the gold standard, 1t is
true we have now more money in cir
culation than in 1896. In that year the
amount was, according to treasury
statistics, S21.10. In January, 1899, it
was $25.25. 1t now probably exceeds
$26.00, the largest amount since 1867
This has relieved a money stringency
and has been brought about probably
by the enormous and unexpected in
crease in gold production which rose
from Sis, 100000 in 1890 to 1921, O0O,-
000 in 1898, and over $500, 900, 900 in
1893, when the Alaskan gold was add
ed and the South African miners doub-
led their product. The amount of gold
in the United States increased from
S590,0O0,000 in 1896 to 1861 ,OO0,0 in
1898 and the increase since then has
been equally rapid. Owing to the vast
expenses of the Spanish, Philippine
and Chinese wars, this gold has not ac-
cumulated in the treasury, but has
been paid out and is now in circula-
ton, the amount now in the treasury
being much less than it was in 1896.
Steadied Prices.
This increase of the worlds gold has
steadied prices of those products
which depend upon a worlds market
and prevented disastrous fall. Other
conditions have assisted in this. The
greatest famine of the present century
has occurred in India, where millions
OF human beings have actually starved
to death. Russia, our principal COM
petitor in wool, has lost U.s.
100000 sheep by drought. Our
wheat crop in 1897 was the
largest in our history. and our ex-
ports Of wheat in the two fiscal years
ending July 1, 1898, were 100000 900,
the largest in our history, but the
prices Of wheat remained stationary.
The treasury statistics show that So
100000 bushels exported from New
York in 1896 and 1897 brought 752
cents in New York, while 104. 600, 900
bushels exported from New York in
1889 brought 75.0 cents. The high
est price in Chicago in 1896 was 1850,
and in 1899 was 1919 cents. But while
the prices of our farm products, which
to some extent are regulated by supply
and demand and by the worlds supply
of money, have remained stationary,
in the face of an extraordinary foreign
demand, as IN the case of wheat, corn
and dairy ropducts, or have risen
slightly in the case of wool, cotton,