Less Foreign Demand Intensifies Home Competition. 55 



Percentage of Fall in Price from Decade 1870-80 to 

 1890-1900 OF Above; Twenty Years. 



Corn AVheat Cotton Bacon Pork Beef Butter 



percent. .34 .37 41 21 30 29 26 



Here it is seen that tlie record of corn is quite similar 

 to that of the rest. The prices of all rise and fall in uni- 

 son, and the percentages of rise and fall often show a 

 remarkable coincidence. It is seen there was a large 

 gain in the price of both corn and wheat in the decade 

 1850-60, under low duties, over the preceding decade. 

 The war period sent the values of all way up. 



It is further seen that prices in 1870-80 were almost 

 precisely at the same level as those of 1850-60, with the 

 exception of cotton and butter. But the prices did not 

 stop where they were before the war; under the highest 

 duties ever known in the United States they plunged down 

 to a depth about 30% lower, as is shown at the foot of the 

 table. 



These prices most remarkably sustain the view pre- 

 sented in chapters VIII, IX and X of the agricul- 

 tural situation during the last fifty years. A prosperous 

 condition is indicated from 1850-60, and almost a strug- 

 gle for existence during the last twenty of those years. 

 For the last few years it is probable that conditions have 

 somewhat improved for the farmers of the West and 

 South, owing to favorable seasons and a large foreign 

 demand for agricultural products ; but where is there evi- 

 dence of better davs for the Eastern farmer! 



But it will be claimed that the price of manufactured 

 goods has fallen more than those of agriculture, and this 

 may be true. But this admission does not injure our posi- 

 tion nor help that of 'our opponents. Why has there been 



