New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-02
PRICES IN 1890.
EFFECTS OF THE TARIFF TESTED-RETAIL
PRICES LAST SEPTEMBER AND NOW.


PRICES LAST SEPTEMBER AND NOW.
The course of prices in 1890 was strongly in
Auenced by two distinct causes the effects of which
il is not easy to distinguish Expectation of
silver coinage caused rise early in the year.
but that advance was aided to same extent by
news that much winter wheat had been killed.
Again. in August a marked advance accompanied
the purchases of silver and the rise in its price.
but at that time also the certainty of great loss
of corn. oats and wheat had a powerful influence.
These the forces which substantially con-
trolled the movements of the year. The new
Tariff bill. about the influence of which there
was so much talk. had no appreciable influence
whatever. will presently appear.
The same quantities. proportioned to their actual
consumption in this country. of several hundred
articles. including those which represent more
than ninetenths of the entire cost of living when
cost at wholesale prices in New-lork 500 % at
the end of 1887. and declined TO S94 3S at the
end Of 1883. and further declined TO 800 20 at the
end of 1889. continued to fall until February
90. 1890. when the cost of the same articles and
quantities was only Ss7 GA Then began the first
rise prompted by expectation of silver coinage and
speculation in breadstufs But the movement III
wheat. corn and oats. and the actual scarcity OF
potatoes incident to the season. caused more than
three-QuarterS OF tne enllIe ADVANCE lHt HisH'oV
point reached in the spring SOL GA -. on
April % and the advance from February % was
81. while the difference ip cost of the above named
articles alone accounted for SO 06 of that ad-
vance. The changes in other prices were there
fore comparatively unimportant. But for the
stimulus given TO speculation in breadstufs by
prospects of monetary expansion. the rise IN that
class of articles would probably not have been
SO great
A decline then followed to the lowest point
for the year, May 27. which was but SS7 34 Up
10 this time the naturally prevailing tendency
was that which had ruled ever since The beginning
of 1883, and it was helped at that season by
prospects of remarkably abundant crops except
for wheat and some kinds of fruit which 1T was
known the previous winter and spring mad cut
of. Moreover, after May p the upward move
ment was so gradual that as late as June 80 the
aggregate cost OF the articles and guam
titles WAS only $50 H. that during the
first half of the year, excepting the temporary eff
fects of silver agitation and the influence of
short wheat CROP unusually low prices prevailed
Then came the rapid rise in July and August,
when ii was expected that the Silver bill, which
was to go into full effect on August Is, would
swiftly and greatly expand the currency. AT the
same time the extent of injury 10 corn and oats
and to spring wheat became known. The advance
in cost was over - 80 in July, and from August
to August p il WAS So |, so that the aggregate
cost of the same articles and quantities on the
latter date was $94 50 l-2. In three months
prices had mounted almost per cent Some re-
action naturally followed when it was seen that
the Silver bill did not have the expected effect,
and by September 3, in only week, the as
gregate of prices had dropped 12 per cent, bat
the later advance then began, which continued
O
prices for all commodities were made ON Deem
Der ), wien the aggregate S9S 45, but the
subsequent reaction was not great and the year
closed with renewed upward tendency, the same
articles and quantities costing on December 81
sos 50 l-2.
These figures relate to wholesale prices only,
and the rapid advance during the last quarter
was not due 10 the tariff but directly to failure
of crops and speculation in the products of which
the supply was short. Included in the aggregate
for September are quantities of wheat, corn,
oats potatoes, butter, eggs and apples which cost
just So GA l-2 more on December than on Sep
TENDER g. while the rise in the aggregate of all
commodities as above stated was but So 0. Tn
less it Ne maintained that wholesale prices of
these commodities were lifted by new duties, the
influence of those duties upon wholesale prices
generally must lie pronounced practically NIL
There were other and sufficient reasons for these
advances. Butter and eggs always rise as the
winter comes Apples and potatoes were eX-
traordinarily The loss of 60G,00O,O0O
bushels of corn, of 2OO,OOOOOO bushels Of oats,
and 90, 100000 bushels of wheat, was assuTedly
enough, with the active speculation thereby eX-
cited to account for their advance. The follow
ing table shows the aggregate cost of all COM
nlodties included, but arranged in classes, other
food" embracing sugar, molasses, liquors, coffee.
tea, rice, fish, salt and spices the metal prod
ncts" embracing coal and petroleum; and the mis-
cellaneOus articles including lumber, brick and all
building materials, turpentine. linseed-oil, hemp
paper, glass; soap, many varieties of paints, fer
tlllzers, and about sixty kinds of chemicals and
drugs. The cost of the same articles and quaint
ties in each class at the beginning of each year
since 1870 Is shown in comparison as follows:
Dairy and Other