New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-02
BrYTNG A GREAT FUTURE.

The continued advance Of prices In NoVem-
Der has been significant in character. AS
In previous months. 1t has strlkingly illustrator
the difference in rate Of gain between the prod
ucts necessary for the future development OF III
dustrics and those required for personal con-
sumption. Another marked difference also APP
noars between the materials Of industry and
the finished products The range Of prices Tor
November 90 was the highest for that
month or the wear thus far so that analysis OF
the figures will serve TO show how far prices
have risen during the year Of greatest advance
In the last twenty years. In 1872 following
resumption of specie payments, prices rose near
ly 30 per cent, but have at no time advanced
more than about 10 per cent in any year since
until this year. Prior TO 1879, excepting less
than per cent in 1S71-'72 and less then III per
cent after the first heavy decline when the war
closed in 1865, there had been no year OF
marked advance since the great depreciation OF
the paper currency which eliminated IN lS6i
This depreciation lifted nominal prices over 40
per cent in a single year. but In gold values
the two years 1870 and 1890 have brought the
greatest advances ever known in this country.
In November TO the ODD the range Of prices
advanced about 2i5 per cent, making 1861 per
cent for the year But while practically a sixth
was added TO the cost Of all commodities each
being reckoned at its relative Importance moth
ing like that proportion has been added TO the
cost of living In the entire department Of food,
including condiments, liquors and tobacco, which
covers more than half the entire expenditure for
all purposes in an average of recent years the
rise this year has been only Ola per cent, and
this nearly all In few articles. such butter,
eggs and apples which are, affected in cost at
each city by causes not necessarily of general
influence In the clothing class the average adj
vance from January l to November y was
7G1 per cent and as this class covers from IA
TO 10 per cent of the aggregate expenditures 1t
Is Of Importance, although the rise here
amounts to only per cent OF the total eX-
pendlture for all purposes last January. More
over, it Is largely In the important materials
which are necessarily reckoned to some extent
in place Of a great variety Of products of which
prices are not known The advance in woollen
goods Is 13 per cent but in wool 26.5; In cot
ton goods 25.4 but IN raw cotton 31.9; in boots
and shoes 100, but in leather 10 and In
hides 191 in raw silk 31.6, but IN such silk
goods as are known only per cent; in india
rubber 12.S, but in such rubber goods as are
known only 10 per cent.
The great part OF the rise In 1890 has been
In products which form practically no part or
ind vidual consumption. but are required for the
maintenance and growth Of manufactures, trans
portation and trade. In few items or thls
sort the increase of cost, reckoning articles ac-
cording to their relative Importance In actual
use has been three times the entire increase
in the food and clothing classes. On the total
purchases. amounting TO SS0,S04 on January !,
the rise in all food and clothing classes added
$780, while In metals and other building ma
terlals II added S100l9. The items OF Increase
are $3.50 in iron and steel products, including
tinplates: S1055 in other articles of the min
era class. including coal and oil; S3.3I9 In lum-
Der and $500 in other building materials. paints,
turpentine llnseed oil, glass and hemp No
family or individual buys pig iron or steel rails,
beams plates or sheets for personal use, ana
little lumber or other building materials
are bought by individuals for their own use IN
proportion to the aggregate consumed Inc
construction Of railroads and rolling stock, or
trolley and other electric lines and electric car
riages. Of vessels and barges for the lakes,
canals and ocean. and Of vessels for the Navy,
of telephone and telegraph lines. of new manu-
featuring works and machinery for them and
others Of new structures for trade and trans
portatlon purposes in all parts of the land, has
consumed large share of these materials,
has caused the great rise in their prices and
rs yet sustans IT,
Thus it Is preparation for the future which
has lifted prices of pig iron 1915 per cent and
of iron products 1874. Of tInplates GIL, Of tin
4S3. of lead Ar, of copper 3l.S Of soft lumber
ga, Of hard lumber 34.4, of linseed oil 24.3, of
turpcntine 27.5, of paints 1913 and of glass 40
per cent The rise of al per cent In hemp Is
due TO conditions in Manila together with the
great demand FOR shipbulding here. These are
the changes which make the rise in prices this
year unequaed in any previous year excepting
1879 gold value considered. and 1t will he recOg
nized that by such advances scarcely anything
has been added to the cost Of living. except as
the cost of new buildings may affect future
rentals Rut the addition Of many new houses
for occupation. even II their cost has been some
what enhanced, can hardly fail TO check the
upward tendency In rents, excepting at points
where the development of industries has been
so rapid as TO cause an extraordinary increase
in population.
The principal mistake OF the Goebel managers
in Kentucky seems TO have been that they