The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-07-31
WHAT is SHOWN By A RANDOM IN
SPECTION OF THE QUOTATIONS.
The Figures Prove that Farmers OBJ
tanned Much Better Results In ISo&
than in 1854 and


voice.
Doubtless the man believed that the
farmers of Indiana got $50 a bushel Tor
their wheat during the whole war. but IL
touched that price but a brief period. In
1868. The two years of the most general
high prices were those Of 1864 and 1865.
That there may be no doubt about the
prices of wheat and other farm PRODUCTS
at that period ia the Indianapolis market.
the flies of the two leadings papers in the
city at that time have beer carefully ex-
amined.
The files of the Journal for both years
were opened at random. The first date
was April IS. 1861. Al that time Grant was
getting ready to open the great campaigns
of that year, and there was general ex-
pectation that the war would be ended In
a few months. On that day red wheat was
quoted in Indianapolis at Sl35 10 $l.s0 a
bushel. and at S1.5O to $1.55 in Cincinnati.
The following quotations were taken from
the local market: Mess pork. SIS; chickens.
s. a dozen; sirloin beef. zoe; choice beef
roasts, 15c. 1t took 1915 in greenbacks to
get a gold dollar.
The next date at which the Journal was
opened was June %. 1864. The Grant cam
paigns had not met the expectations OF the
country, and the outlook was dubious. The
indianapolis quotations were as follows:
Red wheat, s1.S5; mess pork, $42; gold
quoted at 255 to go. The next date at ran
dom was July %, 1864. The indianapolis
quotations were: Red wheat. SIS; super
fine -four, S9Q11 per barrel; mess pork. $3SQ
40; Rio coffee. 50Q53c; raw sugars, 22Q2oc;
hard refined sugar, 31031iac; New Orleans
molasses, S1.10Ql.15 a gallon. Sept. 20, after
Sherman had captured Atlanta. wheat was
quoted at 81. 10a1.S0. and sugar-cured hams
from &c to 25c.
Nov. 10. 1864. after the reelection of Lin
coin. the quotations were as follows in In
~dianapolis: Wheat. $l.S5d1.90; hogs. $10.504
Y per hundred; gold. 2Sc; Rio coffee. $50
Orleans moIasses. 81 2Od1.25 a gallon; pota-
toes, 7acqs1; choice butter. 40c.
Dec. 81. 1864, the last day of the year. the
quotations of the local market were as fol-
lows: Corn, $1.l0G1.15: red wheat, dull at
s1.10Q1.T2; lard. 23c; Rio coffee. 45Q47c: raw
leans molasses. $3.50; prime roll butter, S5d
40c; white beans. 81. 50d2.1 5 a bushel; tur-
keys, 10a12c; chickens, S2.5oq3.5o a dozen;
The first date opened to i'm 1866 was
March /. Dizziness of the market is the
mmen The quotations were as follows:
Red wheat, $l6o; corn, 95c@sl; oats 7od soc;
mess pork. S37; sugar-cured hams. &c;
eggs, goa Csc a dozen; beans. $2.50d2.75 a
busheI; chickens, s4a4sa5 q dozen: Rio eof-
New Orleans molasses, $3.50 a gallon. Bank
rates of interest, 12015 per cent.
The next date at which the file was
opened proved to be June IA. 1865. The war
was over. Half the army was on its way
home. the men bringing millions of paper
money. Here are the indianapolis prices:
Choice red wheat. s1.25; best family flour.
Ss0S.50; corn, zoe; mess pork, SIS: sugar
cured hams. 2lc: Rio coffee, 3Od32c; raw
s sugar; go sSa q bar rehne The 2H last 6pe e e Was Hae;
at the date of June %, 1866. when wheat
was quoted at s1.D and gold at lbs.
MONEYS RELATION TIC PRICES
1t will be seen from the foregoing fig
ures that the prices of farm products be-
gan to decline from the date when the
country knew. by the reelection Of Abra-
ham Lincoln. that the war would be fought
to victory by the Union people.
Yes; there was plenty of money in circu-
lation during 1864 and 1865. Were prices
high because the volume i'm circulation was
By no means. The amount of
money in circulation per capita in 1864 was
sl9.67. and in 1866 it was $90.57. AS ii took
more than two paper dollars, the sole cur
rency of the country at that time, to buy
as much as one gold dollar. the real per
capita circulation during those two years.
measured by purchase power, was not over
half the figures given.
me money, however, was in circulation.
Inc United States was the greatest custom
er for men and what men consume that the
world ever heard of. During all of 1864 and
the first months of 1868 ii had in its en-
ploy a million and a half of men. The larger
part OF these men, whom il had drawn
from the productive employments, the gov
eminent had to feed and clothe., Money
lis was onering $500 bounty in 1864 for re-
cruits and the United States was paying
large bounties in addition. The government
try for mules and horses. Tens of thousands
of men re-enlisted in the spring OF 1864. to
whom NIndno stacks OK of money We're paid, and to
OF pounty money was paid during 1864 and
to March !, 1865.
Let us look at some of the prices of dry
goods as samples of the prices paid. Mr..
Louis Weisenburger, of Murphy, Hibben
IL Co., in the course of conversation with
tne Journal reporter gave SOME very sur,
which the present firm is the successor
paid for dry goods during the latter part OF
1866. 1854 and the early months of 1s65. Some
of these prices were as follows: Standard
brown sheeting. ~ cents, present price,
cents: standard prints. so cents. present
price. . cents: Lonsdale muslins. 10d71
cents; flannel. $1dl.10. present price, 20q2l
cents. As late as 1872 the firm paid g. cents
for these goods. The firm paid. in 1864. for
Kentucky jeans. sl.2S, the present price is
about Is cents. Mr.. Weisenburger told a
member of the old house who advertised
dales when the price was SSa37 cents. be,
cause none Of us will live to see then1
so cheap again. The house purchased, but
sold them at a much lower figure.
ADDITIONAL FIGURES.
Mr.. Joseph p. Shipp, of the same house
was a retailer during the war. He said that
WaTnsutta cottons were retailed, in 1864, fol-
q dellar a yard, which now sold for 12l
cents. and that he paid for Oswego ticking
95 cents, now selling for liz cents.
Mr.. n. S. Byram. who was a ~dry-good:
jobber during the war. said that at one tim,
he paid 20 cents a yard for Atlantic A
sheeting. and 30 cents for standard prints
Mr.. William Laurie, in the dry goods trad,
for a generation. was with the proprietor.
of the New York store at that time. Fl,
gave many interesting details of the retail
cash trade. He said that a black c~assinet
mitch worn then. made of cotton and wool
probably sell for 20n25 cents. A cassimer.
retailed for $2.25G2.50 80. a good grade Of which
now sells for Goa 20 cents. Mr.. Laurie sait
that before the war he boarded at th'
Spencer House. One day a farmer came [,
the proprietor and asked him If he wante,
eggs. chickens and butter. but he did not
Well" said the farmer. Il will leave thii
barrel here and you can pay me what yol
can afford" The price of eggs at that tim'
was about ? cents a dozen.
The trouble appears 10 be that those wh'
talk about $3.50 wheat during the war o.
not remember about the prices which the,
paid for the necessaries Of life. If the,
would so into a calculation they would fins
when the country had Republican lines an
&sn~ fo. thAr. fhnn h No.