New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-11
TIE LRRrGILlRLTY OF PRICES.

rt.,.r ,,rlc,s after A period II unnatural! ana
..,r.,,,. l.nr.s.l,n may always be welcomed
with satisfaction. II they come In IN" na'"rai
,yav. with justification In existing CONDITIONS III
SUNNY ana demand Sometimes TOO hish'r
,rlces are abundanily sustained 10y general De
lief that changed conditions exist or are ABOUT
:, .xi>i. even though some may h"ld different
.nluiou /, * the prevailing opinion when rui'S
markets that are free, and that is mol ihiaIhp',
hu, II N least differs essentially from the c!h'a'
..,,,.uu, for all considerations Of supply ana
,.,..,,d with which pr,ccs are sometimes hols'ri
H. .trl,l markets by monopolicS ana trusts.
,yi. ,.,r there has been very little aIvanc"
. 49,, h, the nriccs ~ finished products Of ron
and steel though pig iron has risen little since
wage, advanced. and oth'r prices ''' 'NP''
=. r,.. COTTON goods have risen quite generally
huf not cxiravaeanty. AMI 4" AL app'"''"''
.t,, ,,,,r,, justification In the enlarged demand
c,r such goods the higher wages al "po'' anu
ia. cnhauccd cost 81 the material III "'""'"
cools and wool practically no advanc" ms poem
occou,nllshed nor are the conditions "f 'olhp'u'
49,, ,,.i,r o,hcr countries such rs Ia make an al
,,,,,s. .,sv Hu, boots and shoes have risen more
,ho, any other finished products. and THIS De-
,,s. tho cost OF lea Their has been advanced from
=. ,o too ner cent Producers ~ leather say mat
,hcir uroducts have not yet risen enough I" cover
,h,. enormous rise in hides. on the whole from
= T., 100 pcr cent. AMI for III" latter rise pre-
,,, =, ,c,st is found in the comparative scarcity
-, c,,,lc since the partial failure OF the corn
crop last year.
earn Is now about third higher than II was
, year ngo wheat about quarter hieh'r' anu
c,t,on is still n shade lower. II casts curious
u,h, on these differences 10 note that pork anu
hogs orc as cheap n. and lard even cheaper IMAM
, voor ago though scarcity OF corn Is supposed
:, lao the great cause ~ many other direrenccs
Al = glance il Is evident that the changes mere
oro NOT all In harmony with each other or with
,,.,s hut This Is apt to he the case In the last
,o,,,hs Of a crop year. when stocks have grown
ca small that thcv can bc more easily controlled.
ami whom differences II opinion about prospects
| ~ tho coming crops are apt to be widest. For a
u,t,c longer unnatural divergenccs Of price must
H.. oxncctcl but with assurance as to new crops,
,bcrc i likely 10 follow n general adjustment to
new conditions in which some prices may rise
! further while others will sharply decline.
I, IL not conducive to the public prosperity
that prices of the great cxporlablc staples should
hc So low rs 10 cut of a large share Of the re-
| turns for thcm but IL IL also most ulucsiraolc
that prices Of such staples should be put so high
M 10 shut out foreign purchasers and turn over
| foreign markets to be supplied by the producers
M other countries. 1t will be more important
than usual this year to read the signs OF the
times Alright. as respects the course OF foreign
markets. because the condition OF the Treasury
and the extent OF increase In the public Indebted
ness may depend much upon the ability OF the
country to market a full proportion OF Its great
staples without unusual delay.
The recovery In prices OF manufactured prod
ucts, where 1t results from Improvement In wages
and does not go 80 far "a to expose home Indus
tries to destructive competition, Is helpful to all
because II restores In a measure the general pur-
chasing power upon which all industries have
to depend With few exceptions. manufactured
products have been extremely depressed In price
below figures at which they can be produced
with fair wages for labor, and yet the recovery
must Of necessity IN tentative and slow, since
there Is constant risk that rise may 90 so Tar
as to break down home manufactures. To ex
pect the old demand. the wages and the prices OF
1892. under the tariff framed by the Democrats
In 1894. would be absurd except In those branches