If these men are not demagogues, pure and simple, why do they not
inform the "dear people" why prices fell more during the eight years
precedent 1873 than they have ever fallen since?
"COIN" HARVEY HAS NEVER EXPLAINED WHY, AND IF HE DID, HIS THEORY WOULD
VANISH LIKE THE MIST BEFORE THE RISING SUN OF TRUTH.
For example, cotton fell from $1.01 1/2 in 1864, to 17 cents a pound
in 1871. Or wheat for instance. The average farm price of wheat in the
United States for the year 1874 was 94 cents a bushel, paper currency,
or only 84 cents a bushel in gold. The average farm price of wheat in
the United States for 1891 was 83 cents a bushel, the same in 1890,
while in 1888 the average farm price of wheat in this country was 92
cents a bushel, or 6 cents a bushel higher than it was in 1874. Thus it
will be seen that an unfair and false impression is trying to be created
among the people by both Mr. Bryan and his followers. Perhaps Mr.
Bryan and the free silver advocates would like to know where I get
my statistics. I answer them by saying they are taken direct from the
United States Statistical Abstract, which deservedly ranks high as
an authority. In looking over this work I could not help wondering if
"Coin" Harvey and our opponents who are shouting so loud and lustily for
the free and unlimited coinage of silver and a restoration of prices,
would not like to apply their cure-all to refined sugar, which was
selling in 1872 at 12 3/5 cents per pound, and only 4 3/5 cents per
pound in 1892, or for instance, illuminating oil was quoted in 1872
at 23 cents a gallon, and only 5 9/10 cents per gallon in 1892.
Manufacturers of bar iron in 1872 were receiving $97.63 per ton for
their product, and only $29.96 a ton in 1894. A keg of nails cost $5.46
in 1872, and $1.08 in 1894. A box of window glass that cost $3.40 in
1873, sold only at $1.70 in 1891. A carpet that cost $1.14 a yard
in 1873, can be purchased today for 36 cents a yard. The steamboat
transportation companies hauling wheat from Chicago to New York City,
by lake and canal, are receiving a compensation to-day of a little less
than 4 1/2 cents a bushel, but in 1873 they were receiving 24 1/2 cents
per bushel, for every bushel they carried.