Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-10-09
,llu Bmon0 Enqul1Ir.
By TYLER s. ALLEGRE.
THURSDAY MORNING, OCT. s, 1869.
TIE ELEMENTS OF PRICES.

TIE ELEMENTS OF PRICES.
If the advocates of g marimum Of prices
would undertake to analyze the elements OF
r7;,cs. AID having ascertained what are the
causes of fluctuations, give to each element rs
ius, and proper weight and influence, the
LEGISLATURE might then intelligibly under.
,akc to fix the mGrintum Of prices If the
t.a-s nni anxcties Of men that enter into their
estimation of the value Of every article of
commerce can be justly and accurately weigh
Il. and properly guaged, one Of the elements
Of r.;ccs will have been ascertained. But
wi, can measure the influence of these fears
sot anx;c,!ts, not Of few, but Of the great
mess cs he population ? Who can accurately
e7rcc~atc the instances when the ~apprehen-
,ious O.; want has induced men to pay mere
than tie article should have brought, and
;lus became enhancers Of prices ? Mems
re,,ions aal fears are elements Of prices
Cua the" BE measured or guaged These
yefr passions are exerting baleful influence
in The e:;or. being made to regulate prices.
THE ucccssity of purchasing is an element
cf psiccs OF controlling force. Those who have
the means Of purchasing cannot postpone hun
cf7 and thirst. They must secure the means
If sulsisience-cheap ii they can, but dear II
they must The matter does not admit Of de-
las rc- of long negotiation. This necessity
is universal: none can escape its force"
What data does this necessity furnish to
measure lis influence as an element Of prices
Ii cnly arpears in full view when famine or
great scarcity begin to prevail, and then it
.hows how un;mportant every other article
becomes in comparison with f'od. Prices arc
scn'ro.lel by the supply in the face of ne
ces>i,y to purchase, while wide field Of con-
lecture always exists rs to this supply. II Is
upon conjectures and estimates of this supply
that uen cf all sorts Of minds, from the mos,
as;u,e nd well-in 'ormed to the most dull and
isno.a4t, from the boldest aud most rash to
tie moSt timid and eau ious exercise their
powers. As such men determine, prices are
aEtc.ed
Tie recessi,y Of selling corresponds very
nearly ,c that Of purchasing, and in ordinary
times would operate as counteracting influ'
.nre; as men can only realize the means OF
purchasing hy the process Of selling. Were
i:Ect for tie suyelsbundance Of Treasury
notes, now scattered like leaves III Vallambro
"a, We might expect these two elements tc
eoGntega:t each other.
Fashion, and fancy, and taste, and extrara.
canre hare not been curbed and checked even
b! the bloody war that has brought SO much
'orr"w 20 50 many homes. All these still op
crate as disturbing elements in prices, and
who shall estimate their influence where the
mears Of their qualification are so ample and
abundant.
Plenty and scarcity, as the popular MIND
a.m'> Inc one rr the other, enter as elements
prices ard exert most important infin
eaee. The imrossibility of ascerta'nlng with
e1acires the quantity Of any commodity, al
We'll as To form any correct estimate OF the
PUN Of all commodities, operate with great
power upon prices.
Srppiv and demand, differing from plenty
aud scarcity. ere also elements of prices which
cannot hc estimated and measured. The de
Eand which exists for articles of commerce
and the supply which is furnished in response
u 'aat demand, can never be placed beyond
The 'ea:h IF contingencies, and ut this time
v:reeiaily is beset with contingencies tha
tde:t Il more than ut any otter time. The
e3ndltilion of the transportation Of the country
The diiieultics of distribution, all effect thi:
'HHpy and demand and increase the inhu'
+lInih"y exert ~ elements of prices.
>p"cuation exerts DO inconsidcTable lniiu
eacs as an element of prices. Its baletul ct
'eeis a:c more injurious uuder existing cir
G,N@s'ances than any other condition of affairs
Hhimpossble to estimate its influence under
:.'a.'oary circumstances. Every person knows
~ well is injurious influence at this time.
!he actual value: the cost Of production fhe
.nlaenc- Of chief markets or points OF distriou-
Un the necessities of the Government to supply
% army; and the currency, are all elements @
,,"es e1erting greater or less influence. but Al
s?:'Hnc into. and materially efecting the price
very article. Can their relative influence oe
:'"'el ana the individual Importance or eacI
t.na'ed. so that the component parts being
!3@n a. the whole may no nationally and intelli'
s,',' ,.u nxej and determined ! This is not pre-
,,", ,-4' /" obria.e this objection. sliding
;ns, shifting schedule. variable and vary
No.. No. ""dsrt IS TO be fixed upon-to rise and fall
r. r.non ihs Just influence Of the various ele'
..s ,s.. c prices. but by the judgment of those
!; Eminent and worthy citizens Of Virginia.
CO.., 10 he expected that State and county
,,In.;.'sNoners ,,I,,;. can know and determine the
On, -, and combined influence of all the vari'
,sb,s ssmen's Of prices, and rightfuly and equi'
..lI;,, appreciate their importance. However in
;.;eat these gentlemen may be. however ex'
in.a,'s Their knowledge and information as pro-
They cannot he expected to know all the
AIMING An, elements Of prices, or be abla to ADOPT
NJ. system that will not iuiuriously effect the
roi. M not only the interest Of sellers and
iSusss' inS uN that will be effected. but the buyers
pa pa,.nsnmers. y the great mass Of the population
law ',1e the injurious effects Of this mazimum
he Let Let us not mistake the clamerous noise O.
si ~esent hue and cry f,r the intelligent voice
i. x;.tsa'oning and reasc'ing public. Let moi
Ina ~ taom OF experience. the light of history
!, sss as teachings Of long accepted philosopher
'a'aaa 10 this ous day Of TRIAL ssd sdvsrs it5
ia