The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1875-08-23
TIE COST OF LYING.
The Difference Between the Cost In 1873
md 1870.

When the panic Of 1873 gayo a severe
shock to trnde in all departments, oul
people said, naturally and inevitably,
that there must shortly be great reduc-
ton in the cost of living. That there
has been n considerable reduction since
that time every one knows but few
people realize, except, perhaps, in their
own cases, how far the result has been
obtained by fall in the price of tho
necessarics of life, and how far by
change in the style of living. This GER
tainly is M interesting question, and one
which lins grent deal to do with the
larger question Of the revival of trade.
When the expense Of living is diminish
ed by tho fall OF prices to II point within
the current rate Of profit in industry and
commerce, trade will begin to revive; ;
but it cannot revive so longas peopleare
constantly straining-as the great ma-
jnrity arC-to SEQ to what point they can
reduce expenditure.
The New York Times publishes m ar
ticlc in which the cost OF living is COM
pared with the cost i'll 1873. In this it
shows that it costs rs much now as it did
then to furnish table in the same man
ner. This is an important fact. Tho
purchase Of food constitutes large pro-
portion-from onc.iifth, probably, to
one c.thir,l-of the expenditures OF tho
average family. II is also very essen
tial element in the price of board. Tho
paper says: Our investigations show
that while there has been decline of
about eight per cent. in tho wholesale
price OF wheat flour, and OF thirty.threc
per cent. on that Of cornmcnl-nn article
of food too little used-there hns been n
considerable advance i'll the Wholesale
price OF salt beef aud pork, and no ap.
prcciable change in the retail prices Of
meats and vegetables, or in that Of bread.
This is fnct which cannot ho ignored
in considering the question of revival OF
trade, for until food is cheaper it will
be difficult to reduce the price Of labor,
and until labor is reduced in price,
manufacturing cannot proiitably go on.
In rents the changes are marked, and
they aro particularly significant. Tho
rents OF tho more expensive class of
houses arc about twenty-five per cent.
lowcr-in some cases even more thnn
thiJ-tlan they were in 1873.
The case it sums up as follows: a
family living according to tho samc
standard rs in 1878 expcnds about tho
same rs then for food, about one-fourth
less for rent, and rather moro than one
fourth less for clothing. The net rcduc-
ton in the cost OF living may thus beset
down approximately rs one.ifth. That
there has been, in great proportion of
cases, and probably in n majority, n
greater reduction than this in actual cx-
penditure, we believe to be probable,
though it is n subject OIL which specula-
ton is necessarily very unsatisfactory,
because there il little extended and nc
curate information to be had regarding
it. 1t may be remarked also that this
economizing by the reduction Of tho
standard of living is sure in the long
ruu, other things being equal, to bring
down the cost of living. 1t is simply Il
falling off in demand. In certain cases,
this decrease in demand is offset by
foreign or cxtrncous demand, rs in the
case OF brcadstui1s and the medium
priced houses; but on the whole, tho
process must have the effect of bringing
down prices. 1t is probable that we
have not gone so far i'll this direction MS
we shall yet go. \ good many men
found themselves obliged to c,rtail their
rent this year more may be in the same
position next year. Meanwhile, pro-
cess il going on which will facilitate
reduction of rents: houses nrc changing
hands to considerable extent to satisfy
mortgages, often without expensive fore
closure, but by surrender OF the prop
crty to tho holder of the mortgage, tho
"margin" being given up. \ similar
change may be expected in other de-
partmcnts, and it will go on until orr
expenditures fall below our production,
and then, and not till then, the revival
OF trade will commence.