People's Pilot, Volume 4, Number 41, Rensselaer, Jasper County, 30 March 1895 — What is the Matter? [ARTICLE]

What is the Matter?

[The Inter-Oceun, March 21.1 Geo. S. Bowen writes to the editor of the American Sheep Breeder as follows: Comparing prices of 1870 with prices current today we notice most material reductions, to wit: 1870—Middling cotton 26c 18955 c 1870—Indian head sheetings 16e 1895....5?.{c 1870—New York mills bleached2J!sC 189510 c 1870— Standard prints 14c 1895...,4‘ic 1871— Print cloths. 61x64.... B‘4c 1895....2!£c 1870 —Wool in London3l?4d 1895...12?.;d 1870—Wheat in London .... 56d 1805...275d 1870 —Miles of railway in United States 47,000 1895..150.000 1870—Tons of Pennsylvania Railroad hau1ed..5,000,000 1895 55,000,000 1870—First class freight, N. Y. to Chicago f 1.50 1895....75c 1370—A1l rail rate on groin, Chicago to New York, per 100 70c 3895....25c I*7o—Wheat, New York to Liverpool, per bu.... 13c 1895.... 5c The Record printed five pages of letters from leading Chicago merchants on January 1, 1895. all concurring in a decline in prices of from 20 to 25 per cent since Jan. 1, 1893. Wheat sold in 1894 at 50 cents, iron at lower prices than ever before in the history of our country, and real estate is very generally paralyzed, excepting choice inside im proved property, Population is increasing; millions of people are unemployed; our public expenditures are greater than ouj- revenues; a serious condition of universal unrest prevails. There must be some general and underlying cause. I have carefully read “Coin’s Financial School,” and think the little professor has made a most clear and logical statement of the causes leading up to the present low prices, abiy proving that unless our farmers.our wool growers, our sheep breeders arouse themselves, ano write to their Congressmen, demanding legislation that will stop the further destruction of values of property and commodities, still lower prices will be realized; the decline must continue—it is inevitable. Coin’s Financial School shows the road to genera.! prosperity, and deserves careful study by every producer, every farmer, every citizen.