New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-12
"VAR PRICES" AND SPANISH TRADE

War prices mean to Americans of over thir-
" years experience quotations In greatly de-
precated currency. The use OF that phrase IN
connection with any. change in prices now oc-
curing or likely to occur involves singular igno-
rance or else intent TO deceive for the highest
prices reached al any time during the Civil War
for the aggregate of all commodities We're not
10 per cent higher measured in gold. than those
Of peace in 1860. the year In which, as all in
vestigators agree. the level Of prices was closer
than In any other to the average for many pre-
vious years of peace and prosperity with gold
payments When gold climbed to It's highest
point. in the summer Of 1864. with rebel forces
between Washington and Baltimore. the effect
Of It's advance was n rise in prices much smaller
than the depreciation of the currency so that
the highest point for all commodities in our
rency was in gold only 6la per cent above the
level Of 1860. For nine years after peace came
the prices Of commodities were relatively higher
than during the war, because gold declined more
than prices.
But the Civil War. which at the worst did not
advance prices Of commodities 10 per cent on the
average for all, was profound disturbance. af
fecting all industries and business, reaching
over the continent and driving our ships from
the sea- taking more than n million men from
productive labor. and rendering the future all
the time greatly dependent upon the results Of
battle No such disturbance is by anybody
thought possible in these days. Thus In a
double sense the phrase war prices" is calcu-
lated TO deceive Americans who have memory
or knowledge Of records. It Is absurd TO treat
the rise in wheat as a result Of war. In view Of
the fact that the great scarcity Of supplies IN
IN
world nine months ago In fact, the rise has
not even been Increased In the least by war,
far as anybody can discover. because Euro
pean ships IN great abundance have all the time
been ready to take away all the wheat this
country has to sell
There are some articles which are either so
largely imported from Spain or are so generally
treated as contraband Of war that existing con-
ditions legitimately affect their cost. But they
are few in number and in aggregate Importance
Insignificant sulphur excepted. OF which i'm
ports Of sulphur were one-half from
Spain last year IN value $3.50 763, while nine
tcnths Of the imports of sulphur come from
Italy, with none from Spain. But the fact that
this article Is treated as contraband will some
what affect shipments directly from Italy 10
this country though not Of necessity purchases
Other imports OF some consequence are Of cork,
manufactured s347,576, and crude s1S1,slG,
about three-quarters Of the total imports being
from SPAIN OF almonds the imports from that
country were $47724S over one-half Of the
whole; Of ro!sins $2Gl ,057, about one half, and
Of other dutiable fruits S579O41, also about one
half OF wines about quarter OF the aggre-
gate, s514.3sS in value, came from Spain, and
TALLY all these articles Of so little mpor-
lance to the general business that the importa-
lions from Spain will have small effect So, al
though about third Of the imports Of iron ore,
in value Sl75S2i came from Spain, the aggre-
gate Of such imports Is Of insignificant conse-
quence to the country and as illustrating the
undeveloped state of Spanish Industries 1t may
be added that the only imports Of iron products
were So In value-of wire rods
1t is impossible to understand how little the
general trade Of this country and the course Of
prices here depend on trade with Spain, with
out reciting in wearisome detail the items Of
which our imports from that country are insig-
nlAcant Outside those above named the largest
single item is oranges, S79,651 In value. with
SCI, 422 Of lemons, and other fruits S4,367. and
of nuts other than almonds $685. Next rank
chemicals. in value $1,000, with mineral waters
$4,000, both too small to count in American
trade. The imports Of hides reached only
S74.025 in value, Of manufactures of wood only
$30,793, Of onions $16,GG4. and imports Of no
other article In the entire list amounted in value
to $4,000. OF olive and other oils the value is
about $1,000; Of soap, once largely imported
from Spain, only S6,05S out of s4l4,OG7 from all
countries; of paper stock only sG291. and OF no
other article as much rs $4,000 Imports Of
lead were only s., 222, Of manufactures Of straw
only 1851, and Of tobacco $2,76O, with less
than $500 Of volatile oils. Imports Of salt