The Leon reporter. (Leon, Iowa) 1887-1930, 1903-10-22
PECULIAR PROSPERITY.


'tThe bureau of labor will shortly
ssue the results of an exhaustive study
Df the increased cost OF living during
the last few years, in relation to i'll
creased wages. The results show there
has been Il striking similarity between
the advance in wages and the increased
cost of living, and that neither has gone
forward as much as popularity supposed
The current report that commodities
have advanced II per cent is shown to
be wide OF the mark. 1t will be nearer
10 or IL per cent"
If that is the best showing that can
be made for prosperity the majority OF
the people are being hit and some Of
them are hit very hard. Ii it be adj
mitted that wages and expenses have
advanced in the same ratio, and the
best that can be made out by the de-
partment is that the advance has been
similar" then the man who works, and
who works all the time is no better of
than before. On the contrary, he IS +
even loser if there are non-producers
in the family, for their expenses have
advanced in proportion to his own, and
his wage advance is not sufficient to
cover the expenses of the several mem
bers of the family. Ii he can dollar for
dollar save as much money, it is shown
that his money is worth 10 to IL per
cent less on the purchasing market, or
that, as compared with the dollar be-
fore this prosperity set in, the dollar
of the present time is worth but SO to
| So cents. This does not refer to the
silver dollar alone, and the men who
believed in honorable currency may
have preferred to wait until the value
of the whole thing could be scaled to-
gether. AS compared with few years
ago, the secretary of commerce admits
that there is not a 100 cent dollar being
earned at this time.
The consequences are rather serious.
The entire state of Pennsylvania shows
a decrease in the farm values, using the
dollar as the unit, Of about three million
dollars. That would be clear loss to the
heirs, and in addition, as the current
dollar is used for current measurements
| of this character, the value of the land
must be scaled another fifteen to twenty
l.per cent.
| If a man is now drawing the same
number Of dollars in salary as before,
his wages are actually worth to him
fifteen to seventeen per cent less than
/ L.. Il,x, c,,1 nd Ix,
had one thousand dollars in the savings
money at this time for the necessities
| of life, prosperity has taken from $3.50
to $40 Of the amount and left but $500
to $3.50, according to the showing of the
secretary of commerce.
The widow who has been drawing
$40 pension under hard times has that
pension reduced to $3.50 to $3.50, by
prosperity.
The infant with one hundred pennies
in the bank now has S3 to 50 cents in
the currency OF the time.
| If a farm, town lot, house or other
property is rated at the same number Of
dollars as before it is actually worth
| fifteen to seventeen per cent less, SO
| far as the necessities Of life are CON
cerned. The $40 rental of the investor
has fallen to $3.50 or $3.50, when he
comes to spend the money for things he
needs. All business might be reviewed
i in similar manner.
i Even the case Of those who are play
ing even through advance of wages,
values or income are not in the least
benefited unless they are better than
i even. If they were saving money be-
fore they may be saving more dollars in
number now, but their savings at the
present time have no greater value and
will have no greater value so long as
the tendencies of the time are continu-
ed, IL the time should come when they
. would cease to earn or should cease to
secure wage advances, they would be
with the losers, and already there are
reductions or wage decreases on the
part oi Tie promoters OF great enter
prises who are being pinched and who
are trying to save themselves from
ruin.
tt is admitted that If the order should
be reversed and prices should be re-
Iduced. the man who has saved more
.. dollars would then have saved more
values But il the advance in the cost
1 Of living should be maintained he has
], gained nothing, and if it should be in
j creased again while he secures no in
crease he would be further loser will
, others.
: In thinking of the values of propert.
s in Iowa or elsewhere, the. reduction
!, should be made when comparisons ar
sought with other years, for values ar,
: relative. This prosperity is a mos
D peculiar article, and should be eyamin
= ed with some care by those who ar
Z ,,orc l1y interested