New-York tribune., 1899-07-20
PRICES. BRITISH AND AMERICAN.

"The London Economists" half yearly COM
parson of British prices, received this week,
corresponds remarkably with the comparison Of
prices in this country. The advance in prices
here from January / TO July 1 was 519 per
cent. The advance in British prices. according
to "The Economists" table, was in the same
time 5.73 per cent. There have been dema-
gogues without number crying out against the
rise in prices here, and claiming that "robber
tariff" and drove of "hoggish monopoies"
were devouring the substance of the people.
Rut not one of them will give the slightest atten-
ton. it is safe to predict 10 the fact that a
greater advance by more than tenth has taken
place in British prices, where Free Traders be-
lieve that protectonist rust does not corrupt nor
do greedy monopoists break through and steal
1t is not to be assumed that the comparison of
'The Economist is regarded as equally trust
worthy with the larger comparison of American
prices, since II covers only twenty-five quota
tions while the American table covers more
than ten times as many and while the latter
are compared with strict allowance for the rea-
tive Importance Of each article as the British
are not. But the tables Of THE Economist" are
nevertheless accepted everywhere as giving the
best information attainable regarding the course
Of British markets, and at such n time as this
there is no reason for supposing that 1t essen
TALLY misrepresents them There, as here the
greatest change is in metals and their products
and regarding copper, tin and lead the prices in
this country are so much affected by British
markets that close correspondence Is natural,
while British prices are at present much af-
fected by American prices of iron and steel, and
always by American prices Of grain and wheat.
The British Index number rose exactly as
much in the first in the second quarter of the
year. while the average of American prices rose
$40 per cent in the first quarter and only about
half as much In the second. This fact also rem
ders the comparison more suggestive, because
much the greater number OF powerful consolida-
tions. though legally effected during the first
quarter, did not begin to influence prices appre-
ciably until after April 1. The rise in this coun-
try was slight in textile materials and products
until after that date, though over per cent in
ALL The heaviest advance In both countries was
in metal products, partly brought about by the
comparative scarcity Of pig iron here, which
was disclosed when the great storms In Febru-
ary had somewhat diminished production, and
the supply was found much smaller than the de-
mand and apparently decreasing. But the rise
was also partly due to the previous speculative
advances in minor metals in Great Britain In
all articles OF that class the rise here has been
about 30 per cent in the half year, but 1t was
more than S3 per cent In pig iron, which no trust
or corporation controls except within limited
districts, in all iron products was slightly less,
about so per cent and In British pig iron only 3S
per cent. The prices OF anthracite coal have not
advanced al all during the half year here
though no other commodity Is more fully con-
trolled In price by a combination unless n be
refined petroleum, WHICH is quoted exactly as it
was on December 30.
Wool was declining until May l. but has since
advanced 2.10 cents pound for all qualities of
domestic No combination or trust controls this
product, nor has any American influence con
trolled the market for raw silk, which has ad-