New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-01-04

LIST date 2ddatc
Cnrn ............. 100 nothing
ro,,, 200 221
The consumption of corn in 1880 was about l3i2
bushels per ca otq for tho food of human beings and
working animals, while of gum-arabic there was
consumed less than fortieth of pound yearly for
each person ana yet the result would be an advance
OF more than 20 per cent IN prices This ilIus'ra-
ton brings to view the fundamental principle In the
comparison Of prices namely, that any comparison
which takes into account the relative importance
of articles quoted in actual commerce or conSump-
ton 10 moro valuable titan any comparison when
does not. 1t may be impossible, and 1t Is. to ascer
tain exactly what quantity OF many different arti-
cles is consumed IN the country but any approx
nation IS better than no approximation. 1t Is pos
sible 10 make a measurably correct estimate from
the census report from trade reports and from re-
turns of foreign commerce. Of the consumption of a
great numbor of articles. To ascertain what
amount Of money will al different times bay these
approximatey known quantities of different art
cles il the method which have adopted ana used
for nine years past in various publications. The
quantities used NAV not correspond absolutely
with the consumption in the country. however
great the care taken but any responsible approx
nation to he relative nprtance OF articles in the
comparison Of prices must yield a more correct
rasuitthan no approX imatlon.
II will require not single lcttcr but nm entire
book which with quotations covering moIe than
half century may ere long be publ shed, to set
forth in detail the basis of comparison which has
been used. Ii must suffice ho?e to state that quo
tations Of about 200 articles are comparearsince
1850, and the amount OF money ~ asccrfained
which would purchase at different dates, Of these
various articles quantities cone +p0ndng a. closely
aS possible TO their asceri lined consumption IN
1850 the date OF the last ccn3us. Among the
articles compared are wheat. corn. oats rye bar
ley beans and peas. mess pork, bacon lam. live
hogs lard, fresh beef. taiiow, live sheep, poultry,
butter. cheese. eggs milk. hay. potatoes. turnipS
clbbageS, on, us apples. raisns, sugar. brown ana
crushed; moIasscs. coffee. tea, tobacco, whiSkey
malt and hops mackerel. Goldfish, salt. rice, nut
meRs cloves pepper cotton. print cloths aud stand
ard ,hceting,. wool OF different qualities blankets
carpets hannels leather. boots, Shoes, hides, sllk
India rubber iron. pig anl baI; mails. steel rails
coal OIL crude aud rehued: TIN and TN plates cop
per- lead, hemp. lumber, spruce and pine oak, ash
walnu; and white wood. !ath, bTIck. limo. turpen-
tine. lnsee oil, soap, 81 ias' paper whlie IeAd ana
twelve other kinds ofpaIGts, Fertilizers and over
ffty kinds of drugs aud chemicals. Constant guam
title. Of all the articles proportloned as accurately
as nun ab to the quantities actually entering
iu.o consumption in $50 could have been bought
IN Auslst az the quotations on or nearest II the
92d for $7I 80, and Pie same quantities wOuld
have cost twenty years ugo November /, Iodo. no
less than $l7i77.
part of this change has obviously boea duo TO
the depreciation in value OF the loyal tenders,
equal TO gold. but OF which 1t took November !,
1863 about 81 1919 10 purchase 81 in gold. But
We have no right % assume that the prices OF this
wear ne lsurc the purchasing power OF gold, rather
than the prices Of May 10. 1852. when Sl0G %
was required purchase the same quantities OF the
same articles that cost in August last $7i 50 Hero
has been decline of more than 49, IN the gold
price of the entire list of commodities legal-tcndcrs
having been equivalent 10 gold for several years
PRIOR to 1852. The sums IN currency which, from
data thus far obtained appear 10 bc equivalent IN
purchasing power at different periods, selected to
illustrate the extremes of upward or downward
movements nr, gwen the first column OF the fol-
lowing table II is proper to add that the compile
ton Of tho inquiry may warrant small changes in
these figures but probably not changes of impor-
lance In the second column Is given the price OF
gold IN currency on the dates named, and III the
third column the gold value of the Sums in currency
which appear TO have had equivalent purchasing
power at the different dates prior to resumption.
COST OF CONSTANT QUANTITIES or PRODUCTS Al
DIFFERENT DATES.
rRIoR TO
Cost IN Price Cost
currency. OF gold. in gold
1860, May .......... $4,000 $4,000 $4,000
AFTER TIE WAR.