New-York tribune., 1900-04-28
PRICES, HERE AND ABROAD.

British prices are advancing just now much
more than American. The quarterly statement
Of "The London Economist makes the index
number for British prices 224O on April 1,
showing an advance of A per cent since Janu-
ary l. American tables, with a much larger
range of articles, but still running in close
correspondence with The Economists" record
for many years, make the rise in American
prices only 10 per cent since January l. But
it is we'll enough known that there has been
scarcely any change, the decline in some arti-
cles which advanced far last year having
nearly balanced the rise in others which have
not yet begun to react. Since April 1, the
latest date for which comparison with British
prices is POSSIBLE, the level of prices in this
country has fallen little, so that it is
barely l per cent higher than January 1. The
British advance is especially significant because
it has been largely in metals and minerals, but
slight in food products In this country metals
and minerals lower than on January 1,
and the advance in lumber and in cotton and
its products has been little more than two
thirds the advance in articles of food.
1t should be noticed at the outset that
American prices have now been gradually
yielding about month, having reached their
highest point this year on March 16, and their
lowest point, on January 90, was over one-half
of l per cent lower than January l. Food
products, however, hase risen on the whole
during the last MONTH and were q shade higher
on April than on March 16, while in the cloth
ing and miscellaneous classes there was little
greater decline. In the metal class, iron and
its products and coal have been gradually
yielding: in the clothing class wool has Welded
with silk, hides and india rubber though
woolen goods have advanced with cotton and
cotton goods, while products of leather silk and
rubber have been comparatively steady In
short, the situation has been quite unlike that
in Great Britain, and the American farmers
have gained most of the benefit since the year
began by the rise in many of the food products
and in cotton. Dairy and garden products, with
eggs, are a shade lower spring approac ches
but meats and breadstuffs have, on the whole
advanced.
In spite of all the outcry about trusts and
their growth under protective duties, it appears
that in Great Britain they have had vastly
more power than here, advancing prices of
manufactured products out of line with prices
Of food In this country the food products
which no trust controls have realized much the
greater part of the advance. and with cotton
over two-thirds of ii, lumber following with
tenth of the aggregate gain, not under the in
fuence of any corporation. The coal cOmbna-
ton has not prevented a decline in anthracite
nor the Standard Oil n decline in refined petrO-
leum, nor the various steel concerns con-
siderable decline in prices of iron and steel
products. The record of the first quarter of
1900 far as it goes, has been as perfectly
adapted to refute and discredit the pretences
of demagogues as if ii had been planned for
that very purpose.
On April the same quantities and qualities
have cost S100 January l. 1860 at New
York the quantities being proportioned to the
actual requirements of the country while Brit
ish products. according TO "The Economists"
table We're in the ratio of 1921 to 100. COM
pared with prices of January, 1860 Nearly
the whole difference has occurred this year, and
nine years ago, in January, 1891, the ratio Of
products in the two countries to those of 1860
was practically the same Owing to mistaken
methods, the elaborate comparisons Of the Sem
ate Finance Committee reached deceptiye re-
suit, representing that American products at
that date were with reference to the prices of
1860 about 10 per cent higher than they actu
ally were, and making the British decline In
prices 10 per cent more than the American in
thfrty-one years, but in fact there was not at
that date a quarter of l per cent difference
With Democracy and prosraton. prices did de-
cline 10 per cent more than In Great Britain
but the gap was subsequently closed in Janu-
ary by the more rapid advance of American
prices. The present rise in Great Britain NAV
disclose influences which will he felt here in
the future. But ii appears more probable that
II Is nearly all due TO the crowdng demands
which result from the war In South Africa. and
Will pass when that struggle ceases
Mr.. Winston Spencer Churchill is being men
toned" TO succeed the new Duke of Argyll In the
q f,r.i1 ha ii,