, 1873-02-21
1879. 1878.
jan. ., Jan. l. Jan %.
Per cent. Per cent. Per cent.

TIE RISE or PRICES SINCE ldGl. ~
In tho comparison OF prices Of commodities
in the United States at tho present tin1o with
the p7icos of tho eamo commodities IN 1901, tho
question frequently ariHcs How much Of tho
hnorease ia duo to increaaoa taxation no" mitch
rs duo to tho depreciation Of the currency and
Ror much Is due to tho general riRo OF pricos
Throughout the world In tho comparison OF
prices in our own country, fow persons, oven
1tnong writors and political economiata, take tho
aust-mentioned circumstances into consideration,
get thoro is unquohtionable eridcnco that tho
general riso in prices in Europe Ina boon very
anrge within o dozou years. Tho commonest
error In tho discussion Of nll auoh questions is
10 refer effects to QUO cauhe inatoad OF . com
bipation Of cnuees, and tho majority Of those
who hnvo at length been convinced of this
general riso Of prices jump at onco to Tho
doprociation Of gold, cauaoa BY the increased
Eroduction of gold In tho last tyenty years
The riso. OF pricoa may bo duo partly to tho
aeprooiation Of gold though oven this ie qllos-
tho only, or even the main, cause will be appa-
rent wien 1t ia remembered that tho ontiro
volume Of gold aud silver in the world Is used
As tho means Of measuring tito value Of tho
sntiro volume Of othor marketable commodities
In tho world; and the assumption that gold
has depreolbtod is only anothor way OF saying
that other commodities hayo not increased 80
raat ID gold and silver. There aro no statistics
tion that it IL true is gucsswork, though to aono
extent barea on probabilities.
Tho London Economistlas, by gories of COM
karisons OF prices, arrived ut tie coucusion TINT
HE general rise OF prices IN Great Britain in
twenty years has beon 10 por cont. Some othor
equally good authorities think the rise has boen
groater fhan 10 por cent, aud without. entering
knto details it may DO said TINT thero IL Bonao
far INIT hoa
within twelve or fifteen years, and that aa far as
It bag effected tho yalne Of commodities pro-
duced in Europe it hns bcen due moro largely to
nthor causoa than the Increase Of gold, Three
4ftoen years. the theatres Of which wero in tho
most populous and opulcnt parts OF tho
countries ongngod: 1n thcne there was not only
She destruction Of o vast amount Of munitions
of war, to make which mon were withdrawn
from tho production Of other commodities, but
there was also au enormous destruction Of tho
other products Of industry OH hand. This OF
ftaelf would bo sufficient cause for considerable
effect that the increase Of gold may nave had on
priceB, it is NECESSARY to know how much haH
beon produced aud wlioro it haH gone:
Tho total production Of geld einco 1858 il esti-
1860 the amount of gold in the United stateaw WAS
about 5000 900 G0D, and TINT now it s considerably
Less than $100, 900 900. Mono Of this increase Of
gold has, therefore, boen retained in the United
GlatE5. iut Lutal liuEuFt6 VI b01Q iQ[U IFaAE
Britain since 1858 wore 81 $50 900, 900, and the
exports during tho same poriod wero $015 900 600.
An aggregate Of $500, 0,0000 600 Of this increaso Of
gold has, therefore, beon retained in Great
Britain. How much Of this gold has beon used
IN the arts, and how much has gono to improve
the money circulation Of Groat Britain, would be
dihlcult to Bay but it is apparent that tho great
bulk OF tho Increased production Of gold has
gone beyond Great Britain and, after making
III due allowance for the a1nornt retained il
Europe. it rnunt bo apparent that tho greater
eart of both the cold and silver pro.
have gone. beyond Europa and have
been absorbed cither in circulation or used in
tho artB in Oriental countries. II tho rise In
prices Of commodities Ia in any respect conse.
aueuce Of the increase Of gold and silver, it mus
be by . rise in tho prices OF Oriental coulmodi
ties. Tie general rise Of u per cent in prices
OF commodities in Europe, from whatever cause
is, however, q pretty woll established fact, and
coming back to the Unitel States, il wo naBum,
the general advance OF pricoa since 1861 to b
botwoen 40 and 80 por cont, we must attribute II
per cont Of 1t to tho general riBe throughout th'
world. about Ii per cent Of it to tllo nctunl do
probation OF the c,lrroncy, and tho remainder
whatever it may be. to Increased taxation
and to oxtrayagant living INDUCED By tht
delualons Of a deprecated currency.
LOCAL aroEE AND poSD MARKET.
hcssys. Lunt, Preston Il Konn quote as fol
lows this afternoon: