New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-31
higher PRICES.

The advance in prices of leading articles OF
commerce. which has rendered the year 1879
in some respects the most remarkable IN the
history OF this country, has by no means been
confined TO tho United States. Annual state
ments from Great Britain, France. Germany,
Austria, and other countries of Europe, as
they come to hand, show that the ad-
vance was very remarkable in every part Of Eu-
rope, and that the speculative feeling was al
most as easily aroused there az here. The
London Economist says in its annual review
OF prices, that it has never been " our task TO
"reeOrd changes more universally violent than
"tbose which occurred within the past four
MONTHS 1t adds the following interesting
comparison with results OF other years OF re-
markable fluctuations:
The year 1853 was, of course exceptional owing 20
the outbreak Of the American civil war. and great
rise in cotton and all descriptions Of American produce
and by adding together Che movements in twenty two
principal articles nse ia prices or 20
DER cent was shown In 1866 the year of the 0verend
and Quincy panic, following the Confederate
coIlapse the same twenty-five articles marked
An average fall ia prices OF about Is per cent s7l
these articles the aVerag" 10 per cent while
1873 they fell 10 per cent. But during the
year no ~ closing these came commodities have risco
something Ike 20 per cent IN market value, or 10y
large q percentage they did IN 1903; the whole OF
,ybirl, rise has occurred since the OF
September.
This quotation is remarkable for containing
n distinct recognition. the first we remember
TO have seen in a British journal of authority,
that the English collapse Of 1866 was trace
able to the Confederate collapse Three of the
most noteworthy changes III the conditions of
English commerce, namely those Of 1868, 1866
and 1879, were distinctly caused, according to
this authority, by influences from this country.
Thence, in British view, the upward tendency
was imparted to the prices Of other lands. so
we read that, during 1879, the price of Ma
Mia hemp rose 81 per cent, pig iron 80 per
cent. tin SO per cent, cotton 81 per cent, tea
SO per cent, lead 81 per cent, sugar II per
cent. silk 10 per cent, and out OF eighteen
classes of the important chemicals every one
shows a great advance in price These items
already indicate that the effect upon the COM
merce of many countries, in almost every part
of the world, must have been great and cor
responding data, were there room to give
them. show changes not less remarkable in
Germany, France and Austria.
1t is not quite easy to attribute this great
advance in prices 10 greater demand from
this country. For first, it does not appear
that there has been IA greater demand or i'm
poItation. by this country, TO some OF the
articles which have advanced most in price,
than there was before the advance, aud in
other cases the increased Importation,
though considerable does not seem adj
equate to account for the advance of
prices throughout the civilized world. But it
appears. also. that other special causes of
advance in prices existed. Thus large ship
ments of woollen and worsted goods and man
ufactures Of iron were made to Germany,