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Price Of Wheat And "protection."

Price Of Wheat And "protection." image
Parent Issue
Day
27
Month
April
Year
1894
Copyright
Public Domain
OCR Text

A late comnranication, dated Feb. 10 and signed "An Alien," published in your paper, prompts rae to subtnit some igures which the farmers of Illinois shoiüd study. The inforuaation is gathered from the official report of the Chicago board of trade: Average annual wheat erop of Illinois f or 20 years- 1870-89- bushels . 31,500,000 Average value ín round figures $37,800,000 Applying today's priee to the average annual erop Uie farmer would realize, at 60 cents 18,900,000 Loss $9,000,000 Again, taking the official figures of the joard of trade as a basis and comparing ;he average of the lowest annual price of wheat dui'ing the existence of the three ariffs - viz, the Morrill act of 1862, the coinmission tariff of 1883 and the Meünley bill of 1890- with the per cent of duty levied under those tariffs, we have he following: Per cent Av. low. duty. price wheat. Morrill tariff 'M 1-6 88 íommission tari fl: 45J.Ó 71 2.5 McKinley tarift 60 6! . Showing the higher the tariff the lower wheat. For fear the present low price may be attributed to the panic, let us com)are the present value of wheat with the owest price ruling on the board of trade uring the pauic of 1873á - viz, 1873, 9 cents; 1874, 81 cents. A still further )roof that the above deduction is correct s found in the following f acts: Tnelowst price ever recorded for wheat during uhe existence of the Morrill tariff ocurred in the year 1870, when it was 73 eents; during the commission tariff in 1887, 55 cents, and during the McKinley tariff in 1894, 58 cents. How do the farmers of Illinois like "protection" on wheat at 25 cents per bushei, or how does any kind of protection with such results

Article

Subjects
Ann Arbor Argus
Old News