Conservative. o
despite of a government extravagantly
administered in the main for thirty-five
years past.
Let no ono assume that I disparage
the importance of intelligent and there
fore just legislation in promoting the
welfare of a country. Right hero ,
though , comes in one of our greatest
evils. Our legislation has been not only
crude and empirical , but peculiarly sel
fish the substitution of domestic for
political economy. The chief economic
difficulty is excess of production , accom
panied by a still greater excess of capac
ity for production , with every opportun
ity for distribution abroad hampered
and hindered by the interposition of pa
ternalism fatuous legislation at homo.
But legislation is in the hands of the
people , and when it is inadequate , un
just or pernicious they have simply to
try a change. Conscience , patience ,
and industry , with the ballot intelli
gently exercised , are adequate to pro
duce improved conditions. Our coun
try is emerging from the depression of
1893-96 simply because its vitality is
strong enough to overcome the quack
nostrums so frequently administered
during this generation.
AVhat of the Uuslness Future ?
I have , during the past six mouths ,
made inquiry regarding the business
prospects throughout the Western states ,
and advices from Montana , Washing
ton , Oregon , California , Colorado , Ne
braska , Kansas and Texas concur in the
assertion that there is increased activity
in all these states , with evidence of the
cumulative good effect of the past four
years of economy and frugality in liv
ing.
California's Agricultural lieonteiit.
One of the striking features of politi
cal ferment and unrest has been the pro-
nouucecl expression in California of dis
content among the farming class
Japan , with forty millions of people
had naturally less good cultivable land
than California ; France , with forty mil
lions had not more ; while Holland , hav
ing originally next to nothing from Na
ture , has gained everything from indus
try , frugality , prudence , ingenuity and
skill.
California , with as many natural ad
vantages as either Japan or Franco , to
say nothing whatever of such countries
as Belgium and Holland , has only 1,500
thousand people in a territory of 158,000
square miles , with at least twenty-five
million acres of arable laud , yet wo hear
it said that our farmers cannot make a
living. If they cannot hero , where
could they ?
With what the English call "intensive
farming" or what the French call "la
petite culture" this state is capable of
supporting 15 millions of people , anc
supporting them decently , too , and
.comfortably. In only one year ii
twenty has the average price of wheat
u California fallen below $1.00 per hun
dred pounds , as cnu bo seou from the
'allowing table :
Prices of wheat per 100 ll > s. in San Francisco
market , 1878-00.
* Frt to Frt to
Year Price Livpool Year Price Livpool
1878 II 00 52 sliil 1888. $1 IU 82 sliil
870. . 1 07 40 1SS9. 1 28
880. . 1 50 57 18 ! K ) . 1 40 42
1881. 7JJ 1 01 42u :
1882 70 5J 1892. 1 28 111
188 ! ! . 68 52 18 ! . 1 01 27
1884. 1 ! ! 2 45 18114. 88 25
1885 1 : tll 45 isaT 1 02 ' ' 7
1880 1 52 28 1800. 1 40
1887 1 40 20
* Per ton.
Average price per year for twenty
years , $1.J8. : The advance that took
place throughout the United States in
farm products from Juno 1 to Decem
ber 81 , 1896 , has been fully maintained
to August 1 , 1897.
Census Valuations.
Now a word as to the fiatists' alleged
destruction of values by the demouetiz
atiou of silver. How the census valua
tiou of property , real and personal , is
reached in men's minds I do not know ;
however , we may accept the general
statement of property values in the cen
sus as at least double the assessed val
ues. For the state of California we find
that notwithstanding the enormous in
flation that took place between 1880 and
1890 , the increase in nsscsRed values of
all property from 1890 to 1896 was 15
or from a total of 1,102 million dollars
in 1890 to 1,267 million dollars in 1896.
This rate of increase within one of the
severest periods of reaction and depres
sion , from preceding unexampled over
production and speculative folly , is
twice as great as the ratio of the world's
normal increase of population.
Colorado increased from 20 millions in
1870 to 207 millions in 1896 , or 940 per
cent. The eleven Rocky mountain and
Pacific coast states , Montana , Wyoming ,
Idaho , Colorado , Utah , Washington ,
Oregon , California , Nevada , Arizona ,
and New Mexico , increased their valua
tiou from 8J5 ! million dollars in 1870 to
6,812 million dollars in 1890 or , 715
The normal increase of population
throughout the world is but a fractioi
over 1 per cent per annum.
I'mtaetivu Prophets.
As to Mr. Sherman's prognostications
on the efficacy of tariff : It is worth
remembering that , although the ovi
possibilities of the so-called Sherman acl
in hoarding silver and expelling gold
were repeatedly pointed out by the pub
lie press and public speakers , neverthu
less so late as August 27 , 1891 , more
than a year after its passage , Senator
Sherman , in a speech at Paulding , O.
expressed himself as satisfied that the
law mentioned was a good and suffi
cient safeguard for maintaining the our
rent parity of the two moneys gold ant
silver with reference to which the
writer of this then expressed the opin
ion , in print , that Senator Sherman was
nistaken and that his mistake would
soon bo demonstrated.
Statutory 1'rlccs Impossible .
We have reached a stage in our in
dustrial evolution at which attempts to
regulate prices through tariffs become
worse than impotent. Any legislative
treatment that does not recognize the
evolutionary forces now in operation
and shape itself in accordance with
them is futile. It is an immutable law
of Nature that we pay a price for every
thing wo got. If those interested in
concocting the Dingloy grab-bag tariff
game believe that it will insure indus
trial , commercial , financial , political
and social tranquillity , I respectfully
recommend them to read Mr. G. A.
Richardson's "King Mammon , " and
Mr. Edward ' " "
Bellamy's "Equality , and
bo warned in time. Meanwhile the cur
rency , by far the most important mat
ter for consideration has been left to
drift.
Sire and Progeny Denounced.
The writer of this article has for
thirty years denounced the financial
heresy of greenbacks , and its off-spring ,
the unlimited free coinage of silver , forever
over twenty years ; and no reasoning to
the contrary has ever been encountered
by him , in or outside of print , that
would justify him to modify much less
to renounce the views so long and con
sistently advocated. The financial con
ditions and industrial unrest of today
fully confirm his forecast and persistent
position. JOHN J. VALENTINE.
liK UlUST 1IAVJ5 1JEEN ISLIftt ) .
A large firm in Aberdeen recently
engaged as office boy a raw country
youth. It was part of his duties to at
tend to the telephone in his master's
absence. When first called upon to
answer the bell , in reply to the usual
query , "Are you there ? " ho nodded as
sent. Again the question came , and
still again , and each time the boy gave
an answering nod. When the question
came for the fourth time , however , the
boy , losing his temper , roared through
the telephone :
"Man , a' ye bliu' ? I've been noddin'
mo heid aff for t' last hauf 'oor. " Tit-
Bits.
My friend , have
AN ANONYMOUS , - , .
CONTlllIIUTION.VOU liear(1 Of fcll °
town No-good on
the banks of the river Slow , where-the-
some-timo-or-other scents the soft Go-
easies grow ? It lies in the valley of
Wlmt's-tho-uso , it's the homo of the
' whore the Givo-it-
reckless I-don't-cares , - -
ups reside. The town is as old as the
human race and it grows with the light
of years ; it is wrapped in the fog of an
idler's dreams , its streets are paved with
discarded schemes and are sprinkled
with useless tears.
