The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1865-11-21
Are Present High Prices Likely 10
be Maintained9

FOod, clothing, rents and labor are an q
much higher now than they were i've wear.
ago. and there is 50 little prospect Ct then
return 10 anything Ike Tie Old standard
that there begins - Be e suspicion thai
things have permanently settled C. hirher
prices, compared with gold OF currency,
than formerly ruled When the war Was
raging, and Vhsn gold was quoted et be
tween 200 and 500, d was he'd that the ces-
sation Of the one and the isli Of the other,
would cause such diminution in the cost
Of living aud labor as would bring Il 10
something Ike what % used to BE- before the
war. But NJ such result has been raalised.
though We have had perfect peace over
half = year, and gold hes fallen % is present.
] comparatively low rae.
Thsre are many causes. but each Of chem.
I Il seems 20 us, inadequate. % which this is
! attributed The vastly greater volume q
currency now than formerly Is fre1ueativ
assigned as the sole cause. The high taxes
levied BY the Government are often nut
tortn as the reason but there is such a dis
parity between the tax il sny given ca-e
and the rise in price, as in itself shoss the
msuthcieacy of the argument The dimin-
shed production Of she country, consequent
upoa the diversion frnm industrial 10 var
Ike pursuits, af such q large proportion Of
The hhtc-b died population Of tie counUv-
which latter has but receptly returned
q productive labor IS set down by
some As the agency in the appreciation Of
values. TIE gigantic operations Of comei-
nations Of spectators IN the chief necessi-
ties Of life, are looked upon By not few ss
a sufficient explanation OF the whole matter.
The poorer classes think high prices a-e
owing 70 the extortionate demands made By
N.utnra -. h. rsafr md Nnnaau
manufacturers tell their customers that the
unparalleled high wages Of operatives, no
less than the high price 81 material, ac-
counts for the unaccounlab e cost Of goods.
Presently We get into a circle where every-
body Is 70 blame, and nobody is az fault
where the original producer must have high
prices 20 balance the cost Of his purchases
the operative must have high wages % bal
ance the expense Of bis living. and the man
ufacturer must have high prices % meet the
cost Of material and labor-where each finds
FAULT with the other, while in reality all are
working toward The same end, and under
similar necessity
We do not deay thai some Of the causes Of
high prices spoken ol-auch Us the reduu-
dant currency, the taxation diminnhed 1
production, and iIie9itimate speculation
have had sn influence in this direction and |
m0val or modification, We may see a favora
bic action within reasonable tine.
There Is another influence more subtle I
and more aps 70 be overlooked in popular |
d scussion, but which is Of late wears as-
suredly affecting values in this country as |
we'll as the resi Of the world, aud which 1
renders IL unlikely tust, even VITA the en- |
largement Of the sphere Of machinery, |
prices Will again settle down % anything |
like the old standard. WeIeier 70 the effect !
that is being produced By the recently /
vzstlg increased, aud ever increasing yoi- /
lme Of precious metals. The enormous us-
create OF gold that has been contributed BY /
California and Australia within the last six
Teen years 10 the currency OF the world hiss
necessarily caused a change and q dimnu
.ion in it, value AS compared with all otter
values aud though for a time this was nos
spp rent or was INSTRUCTED by couuteract-
ny tendencies, 10 has within the Lass tew
years become palpsble aud prominent il
very country OF both continents There
has been an enhancement OF prices aud Of
living IN France aud in Engiand, nos BY
my means approaching that in this country |
turing the last few Yeas, but yet Of magui-
Jude without parai el ia any proportionate
period Of their past history. And each sue
,sssive advance has been followed, not by
recession but by another advauce, until The
matter has become cause Of profound appre-
lension in quarters that are uniayorably
Affected By it. NJ. Chevalier treated the
question eight years ago iu his work on the
Probable Fall in the Value Of Gold" that
IS 10 say, on TIE diminution OF the purchas-
ng power Of gold Is applied TO material and
a0or and IN the years that have elapsed
since he Wrote, his theory has had q prac-
heal development sufficient % transfer d -
he realm Of the definite and posinye---N-
y. Times.