The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-10
mueN THE CITY RAN A STORE.
noVE TO KEEP DOWN THE
j PRICES OF NECESSITIES

80 spirit of speculation Bred by
gps ,..ac Running Had Led TO
D'g -. Prices Being Demanded
tcIes of Daily Food - To
r-nsb oat This ENtortion saVan-
- ritv Government Borrowed
h"l- o.., aud opened a store to Sell
81. cost to the Public.
now here remember the time
f'" ssysnnah's city government ran
VIZ ~ break up extortionate prices ana
s''' the people from the rapaclty OF
pl''' Nowhere else, so far as Is
spe'1-N o.s there ever such an effort to
Sno'. s.-,.- me cost of living for the public
hO', ,-.,rv -forekeepers to be satisfied with
legitimate profits 80
connection was the weapon used ana
-s.-,t,-. success is said to have been
"l .a For nearly two years food
MA. were kept down to point where
.oonle mad no reason to complain, ana
w ,ub the city government was clearly
i,s province in entering business in
,- mn one complained excepting
u'I IN, the merchants. The protests
II the latter were apparently given little
heed. ..-.,e. ..
..,nss that would not be tolerated in a
.na of peace No one would think the
.9.. b,snaed at this time in entering the
.-,.p+i1e business even if prices were
bl,b but in 1868 the conditions were en-
,,..lv different The spirit of speculation
r.,eratad bv running the blockade, both
Island and sea, accompanied by enormous
,,oats as Mayor Holcombe said at the
,,ns soon produced an imitation of prices.
There was an extraordinary demand
Gar gold and silver and state bank bills to
snrn,v the vociferous calls of the specu-
l.tors This state of things soon super
,rduce1 a gradual depreciation of the val
Ne Of the currency and a marked apprecia-
ton of every article Of subsistence"
Fabulous prices were soon demanded for
everything that the public needed. Values
mt upon the necessities of life were far
feyond their true worth and condition
of acute suffering fell upon many with
H ont cause save the desire of retailers for
nordnate profits.
n The city government felt that 1t was in
Y cpmbent upon it to do some thing to
N ct4ck this state of affairs. The running
NJ Of public store was a species of social
Il ism that might well have been regarded
q with doubt and misgivings. The conditions
we're so acute as to demand immediate &C
ton though, and so it was decided to ven
q lure on such an experiment. Here is the
. LIo100rr1la told Of the results in
bis report for 1863:
In view of the existing fabulous rates
Fl Of every article of consumption, our banks
N generously proposed to loan to the city
N $4,000, for a reasonable time, and without
interest to aid in establishing a city store,
10 check as far as possible the spirit of
extortion; $4,000 of which has been ac-
n cepted, and the store has been in opera
& ton for the past five months (May to Sep
q TENDER, inclusiye). The plan adopted has
\ been tine retailing system, selling at cost,
and thus giving to the consumer the ad-
vantage of all possible gain. To say the
least, We feel assured that some suffering
has been relieved by keeping a supply at
reduced rates
The following is the result of our OPP
N eratons for the past five months. We
have purchased provisions, such as bacon,
nour, molasses, meal, sugar, peas, ETC.,
omOuIuls 10 4lI0,4l6l6 Outstanding DEBT
E Is $3.50, making a total cost of STA, 256. 2S
Retail cash sales We're $50, 777.12; stock on
hand valued $5042.S2; there is a balance
IN cash Of 5000 and other items run the
credit account up to SILL 99S.45, making the
resulting loss for five months operation
t-olS5. The loss was the result of the
"a purchase of understandable flour to the
vaIue OF &iSl.59. But for this the actual
result would have been a gain of S., 23S 76.
Inc store was continued in 1864, proba-
oN until Sherman made his entrance into
tle CITY. No report was published for that
ssaH Inc report shows that the banks
so' lieH money back in 1863, the notes
gwen by the Mayor for $4,000 having heen
yaAen up. This is the only time in the
history Of Savannah that a city store was
o a-, Inc city dispensary is the nearest
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