Brownlow's Knoxville Whig, and rebel ventilator. [volume] (Knoxville, Tenn.) 1863-1866, 1865-11-29
Are Present High Prices Likely to be
Maintained

Food. clothing. rents and labor are all SO much
higher now than they were five years ago. and there
is little prospect OF their return 70 anything like
the old standard that there begins TO be suspicion
tbs. things have permanently settled to higher
prices. compared with gold or currency than for
nerlv ruled When the war was raging, and when
god vss quoted at between 200 and 300 it was held
fbst tbe cessation Of the one and the fall of the
other, would cause such diminution in the cost of
living and labor as would bring it to something like
what Il used TO be before the war But no sucb "a
suit has been realized, though we have had perfect
peace for over half year and gold has fallen TO H.
present comparatively low rate
There are many causes but each of them !, soor,s
20 US, inadequate to which this ia attributa5 Tbe
VASTLY greater volume of currency now than former
ly is frequently assigned as the sole cause The
high taxes levied by the Government are often nut
forth as the reason but there is such disparity be-
tween ne TAI IN any given case and the rise in price
IS IN tseli shows the insuficiency of the argument
Inc diminished production Of the country, conse-
quent upon the diversion from industrial TO war
Pursults OF such large proportion of the sble-bod
leo population OF the cOuntry-which latter has hut
recently returned TO productive lsbor-is set down
6y some as the agency in the appreciation of values
The gigantic operations of combinations of specula
tors IN the chief necessities of life are looked
by not few as q sufficient explanation of the whole
matter. The poorer classes think high prices are
owing to the eItortionste demands made by dealers
IN the way Of profits; and lesser manufs toll
their customers that the unparalleled high wages Of
operatives no less than the high price of material
accounts for the un8ccountable cost of goods pros
tently we get into circle where everybody ia to
blame, and nobody is at fsult-where the original
producer must have high prices balance the cost
Of his purchases the operative must have high va
ges 20 balance the expense of his living and the
manufacturer must have high prices to meet the cost
Of material and labOr-where each finds fault with
the other, while in reality al are working toward
the same end, and under a similar necessity
We In not darrv sbaF r
prices spoken of-such as the redundant currpncv
the taxation, and Htgitinlate speculstion-have h6d
an influence in this direction and as some of those
causes are in process of removal or modification We
may see favorable action within reasonable time
There Is another influence more subtle and moro
apt 70 be overlooked in popular discussion but which
ls OF late years assuredly affecting values in this
country as we'll the rest Of the world and which
renders il unlikely that, even with the enlargement
Of the sphere Of machinery, prices will aga settle
down TO anything like the old standard. We refer
to the effect that is being produced by the recently
vast increased and ever increasing volume of pre-
cious metals. The enormous aggregate of gold that
has been contributed by California and Australia
within the last sixteen years TO the currency of the
world has necessarily caused change and dimi-
mutton in its value compared with all other values;
and though for time this not apparent
DISTRACTED by oounterscting tendencies it has within
the last few years become palpRble and prominent
in every country Of both continents. There has
been an enhancement Of price and of living in
France and in England, not by any means approach
ing that in this country during the last few years
but yet Of magnitude without parallel in any pro-
portionste period of their past history. And each
successive advance has been followed, not by a re-
cessation but by another advance until the matter
has become cause of profound apprehension in quar-
tiers that unfavorably affected by it NJ Chev-
alier treated the question eight years ago in his work
on the Probable Fall in the Value of Gold that
TO say the diminutiOn Of the purchasing power
,f a5 fO and loho
years that have elapsed since he wrote his theory
has had practical development sufficient to trans
fer it to the realms Of the definite and positively
J. Herald