New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-23
PRICES IN 1925.

The course Of prices during the year 1895 was
sngularly influenced by various causes not re
lated 10 any question OF public policy. More
important in its influence than any other was
the great speculation in wheat which brought
Letter TO bankruptcy. Its influence on mar
kets for other breadstuffs was great, so that.
while wheat rose nearly 90 per cent from Jan
uary to May 10, the point where the aggre-
gate OF all prices reached its maximum for the
year, other breadstuffs rose over 20 per cent
This class OF products accounted for rise of
So 20 during that period out OF 81 - for all
products, and over half the remaining advance
was in meats. so that the rise in all other prod
ucts was only three-quarters Of ! per cent TO
the highest point. AS the Letter speculation
had been in complete control OF the wheat
market before the year began and before the
Maine was destroyed, il Is not possible 10 de-
termine how large a share In the advance was
due 20 the outbreak of the war and the appre-
hension that shipments OF breadstuffs and
meats 10 Europe might be interrupted. No
doubt II contributed much TO the wrecking Of
Letter, emboldening him to force up the price,
so that the NewYOrk quotation rose from 9S
cents close 10 the end Of March to 81 81 on May
10, whence the fall 10 80 cents took only four
days over one month.
With that exception the influence Of the war
upon prices was remarkably small On March
], after the disaster 10 the Maine, the aggre-
gate OF all prices was higher than II was June
or at any later date until the last month Of
the year. During over two months of actual
hostllties prior 10 the signing of the protocol,
and the remaining four months until the treaty
was signed, prices remained without any gen
eral advance which could be attributed 10 the
war Nor is any reason found for ascrib-
ing the depression Of general prices during those
months 10 the war since the lowest point OF
the year came on September !, about a month
after all hostilities had ceased. and the rise
from that point was only slight until Decem-
Der Moreover the rise in December was al
most wholly In breadstuffs and meats due 20
the enormous foreign demand though some
gains were also caused by the growing activity
OF manufacturing. consumption pressing closely
upon supply The entire range of fluctuations
IN the aggregate during the year was above u
per cent but exclusive Of the movement in farm
products It was less than per cent from the
lowest 10 the highest. The few articles Of
which supplies were much reduced and prices
advanced by the war were relatively so unim-
portant that they scarcely affected the aggre-
gate.
The year closed as II opened with prices rela-
lively per cent lower than British prices
shown BY the tables OF "The London Econo-
mist" which only rose from 1921 per cent on
January /. 1898. to 1925 per cent on January
/. 1890. Of the prices shown by the same tables
on January l. 1860. American prices were
6523 per cent Of the prices Oh January ], 1850
at the beginning OF 1898. and 66-3j per cent at
the beginning Of 1899 While the British tables
cover only twenty-five articles, mostly raw ma
terials. they suffice 10 Indicate the SINE ten
dency toward Improvement which appears IN
this country. But whllo-'changes during the
last year have closely corresponded IN the two
countries, British prices are practically where
they were on July 1. 1897. Just before the Ding
ley tariff was acted. while the sharp recovery
N business here during the last half OF that