The times., 1900-12-24
COMPARISON OF PRICES.
Prof. 'Snuerbccls's Conclusions Drawn
From Statistics of Eleven Years.


From Statistics of Eleven Years.
comparison of prices in 1899 with
those of preceding years in that great
worlds market, London. is made by Prof
A. Sauerbeck in publication issued by
the Royal Statistical Society of London,
England. and just received by the Treas
ury Bureau of Statistics. This compari-
son, according to Prof Sauerbeck's state
ment, which precedes it, shows the course
Of prices of forty-five commodities during
the last twenty years, as compared with
the standard period of eleven years. 1867
IL. The statement of values is in the
form of Index numbers" in which the
average price during the period 1857
is taken as 100, and the relative price in
the years named. from 1880 to 1899. is
based thereon. The forty-five articles
considered are arranged in six great
groups: Vegetable food animal food, su-
gar, coffee, and tea, minerals, textiles,
and sundry materials.
In vegetable food the index number for
the year 1880 was SO; for the year 1885,
6S; for the year 1890. it was 65; in 1896
it reached its lowest point. 53 and in
1898 averaged for the year so. In animal
food the figure for 1880 was l01; for 1885,
So; for 1890, 50; in 1896 again the lowest
point. ~. and in 1899. 20. Sugar. tea, and
coffee stood in 1880 at sS; in 1890. at 20,
and reached their lowest average. 81, in
1898. and in 1899 stood at 80, though for
coffee and tea as shown in the discussion
accompanying the tables, the 1899 figures
were the lowest recorded in the tables.
In minerals the index figure in 1880 was
70; in 1885, Sc; in 1890, so; in 1895 it
reached its lowest point, 62. and in 1899
stood at g2, by far the highest point in
the twenty years period. 1sS0-99, under
consideration. In textiles the index figure
for 1880 was 81: for 1885, Sc. and reached
the lowest point in 1897 and 1898. when it
stood in each year at 81, returning in
1899 TO 5S. In the list headed ''sundry ma
terials'' the index figure for 1880 was 50;
for 1885. 76; for 1890, 50. and reached its
lowest point in 1897. when it stood at 62,
and in 1899 returned to 90. Taking the
grand total of the 45 articles considered
in the various classes of vegetable food.
animal food. sugar coffee and tea min
erals. textiles, and sundries. the index fig
ure for 1880 was IS; for 1885, 72 for 1890,
Y. and in 1896 reached its lowest point,
61 returning In 1899 to 6S.
Discussing the table from which the
above figures are taken, Prof. Sauerbeck
says:
"The index number for all commodi-
ties was 6S, against 81 in 1898. or 90 per
cent below the standard period 1917,
and Il per cent below the ten years 1873
81, but per cent above the average of
the last ten years. AS compared with
1898 the advance amounted TO four points
Tor G ii per cent? while the rise on 1895,
the lowest year on record, was much as
seven points Tor II IL pes cent?. The
rise was smaller than was probably ex
pected by many observers. and this is
explained by the fact that the average
advance for the whole year applied only
TO materials, and here principally to
minerals, to a smaller extent to textiles,
and to a very slight extent to sundry
materials Articles OF food, on the other
hand. were in the aggregate lower-an
advantage no doubt to consumers-and
were exactly on a level with 1897, so that
the advance obtained in 1898 was again
lost.
-Four articles out of the forty-ive con-
tained in my tables showed records of
lowest prices, viz, Brazil coffee, fax,
coarse wool, and the average import
price of tea. Articles of food were
little lower, but materials "a per cent
higher than in December 1898, while the
rise for materials from the lowest point
in February, 1895, amounted to as much
as &c per cent in the aggregate. Articles
of food on the other hand, were only
S 1-2 per cent above their lowest record
point in July, 1886.
I'm the course of last year prices of
corn remained generally on a low level.
The small wheat crop of the world of
1897 t2SS million quarters) was follow
ed in 1898 by the largest crop on record
t35S million quarters). and in 1899 by an
other good crop 1924 million quarters.
Meat and butter were somewhat dearer.
the latter being affected by the drought
in August. Sugar and the common sorts
of tea ruled a little higher than in the
preceding year, though both articles are
still on a very low basis, the average
import price of all sorts of tea imported
having been the lowest on record. Brazil
coffee under the influence of four large
crops in succession, was lower than ever
before. Santos touching % shillings per
hundred weight in September but improv-
ing again to 32 shillings toward the end
of the year. Metals generally reached
their highest points between July ard
October. but gave way to some extent
famine prices at the end OF the year and
early in 1900. Iron has not been so hign
since 1874, but copper and tin. although
very dear. were still higher during the
speculation in lSST-'SS.
Among the textiles we have to record
an advance for cotton, in view of a large
and lower estimates of the
current crop, but prices during the past
year we're still very low as compared with
former periods. Flax touched the lowest
price on record, improved gradually. and
realized a sharp advance in December.
Manila hemp experienced great fiuctua-
tions in conjunction with the policy of
opening and again closing the port: the
price was G1I sterling per ton at the end
Of 1897 and about s64 sterling at the end
Of last year. probably the highest figure
Dn record. Merino wool advanced over 60
per cent and has not been so high since
1880. while the bulk of coarse woods oc-
eupied the lowest level on record for the
greater part of the year, improving to
some extent towarI the end Silk was
higher
The past year Will. on the whole. b.
considered ;ery II osperous one. and the
activity of the manufacI ring industries in
Europe, as well as in America. was great
ar than at any zine since 1S7l-7S."
Making Wood Look Like Metal.