People's Pilot, Volume 4, Number 47, Rensselaer, Jasper County, 16 May 1895 — Professor Laughlin’s Table. [ARTICLE]

Professor Laughlin’s Table.

From the Inter Ocean. A man occupying the position Professor Laughlin is supposed to occupy ought not to practice the deception that he attempted in his article arguing against the position of those who hold that the prices of almost all staples have fallen with the price of silver. He maintained that such was not the case, and presented a table of prices running back to 1860, and comparing the prices in that year of 232 American articles with their present prices he shows a general decline of only 8 per cent. Making a similar comparison on prices of silver he claims it has declined over 50 per cent. Now there is, in discussing the silver question, neither justice nor good sense in comparing the prices of 1860 with those of the present time. Silver did not practically begin to decline until 1873, when it was demonetized. That year the price of silver, as compared with gold, was 15.92 to 1. After that its decline was steady to 1891, when the ratio between the two metal was 20.92 to 1, which indicates a decline in silver of a little less than 33 per cent. On the other hand the price of the 232 American articles in 1873 was 137.5, but in 1891 that price had declined to 92.2, a decline of a little over 32 per cent. Thus it will be seen that the Professor’s table, when honestly treated, instead of disproving what the friends of silver claim, absolutely proves that they arecorrect. It is surprising that even a dogmatic professor would be so unwise as to attempt to palm off on intelligent readesr figures that honestly treated must prove just the opposiie of what he is trying to make them prove.

To show still further the intention to deceived his readers, the professor brought down the prices of his 232 American articles only to 1891. while for the purposes of comparison he took the price of silver in 1894. Now t everybody who know enough to give intelligent thought to this subject of prices knows that prices generally fell more rapidly during the years 1892. 1893, and 1894, than any other three years of the period named. They know, too, that silver those three years fell more rapidly in price than at any other time. Yet this learned professor in our boasted university has the temerity to compare the prices of the other articles in his table 'in 1891 with the price of silver in 1894. This might pass muster in the classroom, but it w r on’t on the editorial page of a newspaper.

As we said before, honestly treated the figures prove just the opposite of what the professor tried to make them prove. From 1873, the year that silver was demonetized, to 1891, thd price of the white metal declined a little less than 33 per cent. Duriug the same time, according to the figures of the professor's table, the price of his 232 American articles declined a little more than 32 per cent. We would advise the professor to continue to talk in platitudes and let tables of prices alone. Facts arc dangerous things to juggle with.