Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1921-03-23
Obligations Abnormal as Well an
Prices of Commodities and Labor.

frlceS OF commodities and Labor.
Mr.. Editor:
Just now there seems to be a shoal
of editors bandying about what seems
to them to be succulent morsel of
advice about return to normalcy."
and some of their conclusions along
economic lines would lead a man by
the woodpile to conclude that a ma
Jority of the cult couldn't distinguish
south wind on clear day without
reference to a weathervane.
The prices of commodities and labor
are abnormal compared with a half
dozen years ago until they are mea-
sured by our obligation. To illus
trate-the national debt is in round
figures SEE, ,OOO,000,00O (incomprehen-
slble), which at per cent. calls for
$l,OOO,OOO,OOO in annual interest. Now,
our wheat crop, spring and winter,
last year was 925, 00O, 900 bushels and
the normalcy price of wheat January
l, 1914, was 80 cents. If the wheat
yield of 1920 was sold at that price
1T would bring about $3.50, O,OOO, 900, or
three-quarters of the annual interest
on our public debt. Three billions of
bushels of 35-cent oats (1914 price)
would meet the obligation, but our
bumper yields was never much over
half the amount.
Again, the estimated expenditure of
the government for the fiscal year are
placed at five billions of dollars. In
our minds eye let US get back to nor
malcy again. There is approximately
ten million wage earners in the United
States, adult people working for a
days pay. According to the bureau
OF labor the gross earnings of wage
earners in 1914 had the receipts been
equally divided between those engaged
would have given each $475. Now
this $475 multiplied by the number of
wage earners gives us a total of four
billions, seven hundred and fifty
millions of dollars, sum only lack
ing two hundred and fifty million Of
an amount sufficient to meet the ex-
penses of the general government.
Probably short time notes could be
foated for the balance.
Many people can remember two
periods of defation through which wa
have passed in recent decades. Dnr-
ing the Civil war the governments
assumed a bonded obligation of about
one-twelfth our present volume. In
the 7Os when we were getting back
to a specie currency basis there was
a nat money party with some logic
and sufficient following to elect a
Greenbacker to Congress from the
district of which Orleans county was
unit, in the person of Bradley Bar
low, who defeated w. w. Grout at
the polls in 1873. All through the
SOS and early COS there was a strong
following of populist throughout the
West, eliminating in the free silver
campaign in 1896, when a most low
able man was chosen president by
methods which / have never heard
the ethical praise.
i am not repudiationist,. neither
DO ! believe that the debtor and pro-
duclng classes should be mulcted by
an enhanced dollar. If A borrows,
say 10 bushels of corn of B, for which
ne agrees to pay 1sbushel interest per
year, and to return the principal in
ten years, it is clear that B would
receive only the same calories. as the
medics are pleased to say, plus the
use, which might be to A's advan-
tage. Why can't we be equally hon.
est with dollar when human happi-
ness, advancement and common hon
esty among peoples are so involved? T?
instead of seeking normancy, il that
means values measured by a pre-war
standard, better plan for a DAYS wage
in 1921 that will equal a days paw in
1919-no matter whether the labor
was producing wheat or manning a
railroad. Secretary of Agriculture
Wallace has said within a week that
our energies should be directed to-
ward establishing a general level of
prices 20 per cent. above pre-war
normal. 1t can be accomplished and
a contributing means to the end
would be the restraint of some edi-
tors from wasting so much wood pulp
in this news print shortage.
Yours truly,
George Markle.
Newport, VT, March 18, 1921.